meaning of management goal?
Management Goal means a set target which is made by the management to achieve within a specific time period. For example- Management decided that they will increase their sale by 20% in July. This is goal of management to increase their sale by 20% in July.
Why is goal important in management?
In management goals are very important for growth and development of the organization. If there is no goal in the organization then how would employee know what they will need to do or what not. Every human resource working in the organization makes the goal of the organization its goal, but if the organization starts working without any goal, then how the employee will be able to work properly. It will be very difficult for the company to stand in the market without goal management.
Let’s understand this with an example to make it more clear. For example- Management in the organization decided that they will double their sales within two years and for this big goal they need to set small goals to achieve that big goal. Organization can send their sales worker in new markets and direct to the customer in the residential area to increase the sale. Organization need to set that next month our goal will be to increase our product sale by 10% and same like this constantly they will increase their sale target in every month so that they can achieve their big goal that is double the sale within two years.
After setting the management goals, the employee has a clear idea what to do next and they do their job properly without any confusion as per the instruction given by the employer. Management goals also increase the profit of the organization and make it developmental.
four kinds of management goals?
1) Time based management goal- Time based management goals means short term goals and long term goals. Management works on both goal simultaneously. Goals that can be achieved within a period of one year are short term goals. For example- customer satisfaction, Increase awareness about product, etc. And goals that take more than a year to achieve are long-term goals. For example- launching a new product in the market.
2) Performance based management goal- Performance based management goals means to set the goal on the basis of how organization is performing in the market. After identifying the deficiency areas, the management sets a target to correct the deficiency areas so that the organization can grow more.
3) Quantitative vs. qualitative management goal- Quantitative as the name suggests means what is the number of your customers using your product. Within this, the management sets its goal to increase the number of customers.
qualitative management goals means to find out weather your customers are happy with the quality of product or not. If not, then management set goals that can enhance the quality of their products.
4) Outcome- vs. process-oriented management goal- Outcome management goals means the type of goals that will provide something in return to the management. For example- launching a new website. outcome that management get after launching a new website is more new customer will find out about the organization and this thing will increase the sales, revenue, and growth of the organization.
Process-oriented management goals refer to those types of goals that require continuous work for a specific period of time to achieve the goal. For example- design and develop a website.
Tips for setting management goals
- Always keep your mind clear about your goals
- Do proper research on your goals
- Keep your employees involved in the decisions about your goals so they stay motivated
- Keep your employee motivated so that they can do their work properly
- Make sure your all workers in the organization are clear about the goals.
How do you achieve management goals?
- Check your goal after a certain period of time so that you can find out whether your goal is working well or not
- Make goals after careful consideration
- Make sure each employee is giving their best to achieve the goal
- Get periodic feedback about the goal
objectives of performance appraisal
What is performance appraisal?
Performance appraisal is a systematic process to evaluate the performance of employees in the organization to check the real capability of organization employees.
This process happens after a specific period of time in the organization. for example- after every 6 months, after every one year. Transfers and promotions all happens in the organization on the basis of performance appraisal.
objectives of performance appraisal
1) To keep employee’s Performance record– One of the most important objectives of performance appraisal is to keep employee’s performance record so that further organization can determine compensation packages, wage structure, salaries raises, promotions, transfers, etc. on the basis of performance of employee in the organization.
2) helps to find out right person for right job- performance appraisal also helps to identify the strength and weaknesses of employees in the organization and on the basis of their strength and weaknesses organization place right men on right job.
3) To find out actual capability of employee- On the basis of performance appraisal, we can find out that what is actual capability of employee and as per of that we can train them. For example- There is a person working in organization. His mental and logic work is enough good then his physical work but in organization he does physical work more. In this case, organization is not getting 100% utilization from his employee. but after performance appraisal, organization can find out actual capabilities of employee and get maximum utilization from the employees.
4) Fully utilization of human resources- After doing performance appraisal, organization can find out what is actual capacities of employees that are working and as per of their capabilities, organization take the decision of promotion and transfer of employee, so that they can get 100% benefit from their human resource.
5) helps employee to improve their performance- After performance appraisal, employer can provide a feedback to employees regarding their performance and related status and as per of that feedback, employee can improve their performance in the organization to improve their lacking areas.
6) To motivate other employees- This work motivate those employee who show some laziness in their work because when they will see that company is enhancing all things of employee on the basis of performance appraisal then they will also do their work properly and accurately.
Why is performance appraisal important?
Performance appraisal is most important for organization and employee both. Let’s discuss how:-
- How performance appraisal is important for organization
- 100% utilization of human resource
- Increment in profits
- organization can meet its goal easily
- high Employee satisfaction
- Daily smooth working without any hinderance
- Growth of organization increases
- increase the value of organization in the market
- organization can easily find out right person for right job
- make other employee motivated
- How performance appraisal is important for employee
- Provide right amount of salary and wages as per of work
- growth and development of employee through trainings and work
- having enough experience in a specific field
- fully satisfied
- get promotions and increment in remuneration
- getting chance to improve the lacking areas in work through feedback
Purpose of performance appraisal
Following are purpose of performance appraisal:-
- Employee can do their work 100% effectiveness and efficiency
- organization can fulfill his settled goals on time
- Employee can get right amount for their work
- to find out what is capabilities of different employee
- To let employee realize how they are working
- To provide employee accurate feedback about how they are doing in organization
- To increase the effectiveness and efficiency of work in the organization
- To pay fair wages to the employee
- To keep employee satisfied
- To find out right person for right working department