Setting and achieving goals is a task in itself for individuals and companies alike. Without goals what are we to know what we are working towards? In a company setting, goals are a one-directional approach to keeping the company moving forward and preparing a clear concise vision for any and all employees that work for the company. Companies that share goals with their employees tend to see a lower turnover rate because the employees are buying in to the job and goal at hand. The company works as one when goals are presented and executed. The top three challenges faced by HR organizations today are turnover, employee engagement, and succession planning. (Carter, 2015)
Types of planning used to achieve goals
For this paper we will look at two
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Tactical planning and strategic planning do have some of the same characteristics but are used a little differently. Tactical planning is typically used for here and now type goals. Tactical planning is also most often used in different divisions of one company. There may be 10 different ongoing tactical plans at the same time in a company whereas there is only one strategic plan. Tactical planning is a systematic determination and scheduling of the immediate or short-term activities required in achieving the objectives of strategic planning. (Tactical Planning, 2016) Tactical planning often outlines the production tasks needed in order to fulfill the strategic plan. (Patrick Genin, 2007) The way I differentiate the two planning types is the strategic plan is where the company is going and the tactical plan is how they are going to get there. So although they may be utilized in different ways they are still working towards the same …show more content…
As with everything in business without one or the other a company would have a hard time reaching the vision of the company. Strategic planning and tactical planning are the most utilized planning methods in the business world. (Pirraglia, 2016) This can be because they intermingle so seamlessly. Any good company will utilize strategic and tactical planning methods, just remember the strategic plan comes first. With a mission and vision, followed through with a strong strategical plan a company can succeed. For a company to prosper take it a step further and utilize tactical plans to implement the departmental factors for the strategic plan. When utilizing both planning methods a company can strive for the longevity every business owner dreams
The strategic plan is planned those who influence resources and understand how a set of tactics work together, it is identifying and setting a vision. On the other hand tactical planning utilizes the resources to achieve the goals and support the vision. Those doing this type of planning face having to plan the usage of limited resources into actions to achieve a set of goals. I don’t think the two can really be separated, but rather they go hand in hand (Owyang).
New businesses will take longer to thrive with the United States falling economy. The faltering job market and the deepening slump in housing threaten to hurt consumer spending. Consumers are becoming more conscious of their spending and therefore using cash to pay for smaller necessary purchases. The cost of entertainment and other presumed luxuries may be pushed to the background by most families, when having to choose whether to pay for a bill or treat the family out. Thriving businesses will understand the need to provide a service or product at affordable prices.
The set goals should also be those that are favourable to the workers, as well as the management team as a whole. This is to ensure that they can be met easily without much difficulties involved.
Having goals is crucial in the journey of eventually reaching the organizations vision. A vision is the destination for the organization, while the goals are more focused (Clark, 2014). The presence of goals within an organization allows leaders to be able to measure their progress. According to Colorado State University-Global Campus (2010) the concept of SMART (specific, measureable, attainable, realistic, timely) goals is frequently used to help measure an organizations success in reaching their goals. Having goals that meet the SMART criteria enable the organization to be able to more efficiently track, measure and ultimately reach their goals. Goals that are missing any of the five facets of the SMART concept will be a liability to the success of the organization.
The implementation of SMART goals is widely used in healthcare organizations. A major reason for the use of SMART goals is that research has shown that staff who were provided with specific goals which were thought-provoking unfailingly achieved greater results the staff given ambiguous, less stimulating goals (MacLeod, 2012, p. 69). Goals which are specific, measurable, achievable, relevant and time bound (SMART goals) clearly are a valuable goal setting tool for managers.
Strategic planning consist of four steps starting from defining the company’s mission. When talking about a mission were talking about a certain phrase or slogan for say, that is intended to draw attention to customers and make them want to be even more loyal to the company. For example Walmart says, “Save money. Live Better”. Therefore, Walmart’s mission would be to let people know that they have low prices all day every day, insinuating that their products are affordable for everyone. This is a good mission because it gets the majority of the people in this world to want to go out and save money on their everyday necessities and even luxuries. The second step would be to set certain objectives and goals for the company as well. For example, CVS did use “Health is everything” as their mission and this didn’t just set out for a name it became a goal as well. Sooner or later you must set goals on your mission to understand the level that you need to get to and reach. Another example of a goal that I believe CVS set was to start selling healthier products. In the chapter it says that CVS stopped selling tobacco and other products that
Tactical plans have shorter time frames and narrower scopes than strategic plans. Tactical planning provides the specific ideas for implementing the strategic plan. Operational plans support tactical plans and are the tools for executing daily, weekly, and monthly activities. They include policies, procedures, methods, and rules. GE has essentially grown in size and benefits since 1980’s. GE centralized financial management and strategic planning control, and practiced strategic planning management.
Strategic Planning is looking at where you are now, knowing where you want to be in the future and planning the steps to get you there.
Strategic planning is the continuous and systematic process of guiding members of an organization to make decisions about its future, develop the necessary procedures and operations to achieve that future, and determine how success will be achieved.
If asked what strategic planning is one could interpret it as simply a road map that can guide the organization in the right direction. It is very unlikely that an organization would know which direction to take without a sense of direction. Managers are faced every day with decisions that have a major impact on the direction the organization must take, therefore, strategic planning can play an important role in guiding managers in the right direction. In other words strategic planning is a tool that management can use to give them a sense of direction that will guide them in doing a better job and to ensure that all the members of the organization are working toward the same goals
Strategic planning has a focus on stabilizing the current environment, and it also support the organization's business plans and goals. Strategic planning helps to implement new projects, new technology, consolidation of data centers, data warehouses, exponential data growth, cost of ownership, and resources available in an organization to assess the future requirements. Strategic planning analyzes the business plan, potential blockage or other issues in the current architecture, processes and their implementation in new initiatives, and processes. Strategic planning helps to formulate the ideas about the key factors that are affecting the present and future development of the organization and the opportunities offered by the environment and the competence of the organization.
Motivation should focus on aligning individuals’ goals with the organization’s mission and vision (Hall et al.
Company goal is to educate us on the many options that will assist us in realizing our full potential and take to action to create the results we desire. From communications to goal setting and time management, we can all become more effective in our work and relationships.
Strategic planning is an organizational process in which it looks towards developing and sustaining success or balance in its ever changing environment.
Strategic planning implies establishing in advance what an individual or organization wants to achieve within a specified timeframe and deriving ways on how to achieve that. A strategic plan is basically a course of action that is used to attain desired results. It means anticipating the future and having measures on how to grow into the future. Technology is a macroeconomic factor that is rapidly growing and changing. Technology has had positive effects all over across the globe to business organization and to individuals.