Managerial Objectives and Planning

Managerial Objectives and Planning - Managerial Objectives...

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Managerial Objectives and Planning Goals : depends on where you sit in the organization, goals can be different. Organization Employees: high wage Customers: low prices Owners: high dividends Management: promotions Goals and strategies Objective for performance Starting point of a successfully managed business The planned method of reaching a goal is the strategy Purpose of Setting Goals Provides direction, guidance and motivation Assists in allocating resources Helps define corporate culture Helps managers assess performance Goals vs Objectives -Goals is a long term desired result -Objectives are short term steps in the ladder one must achieve in order to reach long term goal. Setting goals and objectives Specific and measurable Time oriented Realistic yet challenging Set by those responsible for reaching them Balanced Integrated to performance appraisal Flexible Planning Determining the best way to use organizational resources
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This note was uploaded on 09/13/2011 for the course ADM 1300 taught by Professor Koppel during the Fall '08 term at University of Ottawa.

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Managerial Objectives and Planning - Managerial Objectives...

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