GOAL SETTING

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 GOAL SETTING

GOAL SETTING
SMART GOALS
ACTION PLANS
OBSTACLES – FAILURE MANAGEMENT

INTRODUCTION
The process of working collaboratively with
a group of people to achieve a
goal. Teamwork is often a crucial part of a
business, as it is often necessary for
colleagues to work well together, trying their “Success is the progressive
best in any circumstance. realization of a worthy goal or
Goal setting involves the development of an ideal.”
action plan designed to motivate and guide Earl Nightingale
a person or group toward a goal. Goal
setting can be guided by goal-
setting criteria (or rules) such as SMART
criteria.

QUALITIES TO AIM WHILE

SETTING GOALS
• Specificity. You have a better chance of
achieving a goal if it's specific.
• Optimism. Be positive when you set your
goals. Being able to pay the bills isn't
exactly an inspirational goal. Achieving
financial security phrases your goal in a
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 GOAL SETTING

more positive manner, thus firing up your

energy to attain it.
• Realism. If you set a goal to earn
$100,000 a month when you've never
earned that much in a year, that goal is
unrealistic. Begin with small steps, such
as increasing your monthly income by 25
percent. Once your first goal is met, you
can reach for larger ones.
• Short and long term. Short-term goals
are attainable in a period of weeks to a
year. Long-term goals can be for five, 10
or even 20 years; they should be
substantially greater than short -term
goals but should still be realistic.

SMART GOALS
SMART GOALS - WHAT IS IT? IMPORTANT

The acronym SMART has several slightly

different variations, which can be used to
provide a more comprehensive definition of
goal setting:

• S - specific, significant, stretching

• M - measurable, meaningful, motivational
• A - agreed upon, attainable, achievable,
acceptable, action-oriented
• R - realistic, relevant, reasonable,
rewarding, results-oriented
• T - time-based, time-bound, timely,

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 GOAL SETTING

tangible, trackable
They are defined as following: The brief
explanation of SMART is given below:
• Specific: Well defined and Clear to anyone
that has a basic knowledge of the project
• Measurable: Know if the goal is obtainable
and how far away completion is and Find
out when you have achieved your goal
• Attainable: the goal should be within the
limits of physical and man-made laws and
rules.
• Realistic: Within the availability of
resources, knowledge and time
• Time-Based: Enough time to achieve the goal
and not too much time, which can affect
project performance
IMPORTANCE OF GOAL SETTING IMPORTANT

Goal setting is necessary in life and this is

where SMART goals come in. SMART goal
setting is one of the most effective and yet
least used tools for achieving goals . The
importance of SMART goals is as follows :

1. Clarifies your end vision: Without a

proper vision and goal setting, the
individual will be wandering around
without a proper aim. Do not try to aim
goals that are not definite and are
ambiguous in nature. This will only lead
to wastage of capital and time.

2. Let’s you focus: With the setting up of

goal, it lets you focus on what you should
really aim for. Moreover, it will prevent
you from getting distracted in the day to
day activities of life and prevents from
wasting resources.

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 GOAL SETTING

3. Moves you forward: Setting up a long-

term goal can help you motivate to reach
towards the goal and drive you forward.
Whenever you feel like losing motivation,
think about the goal, get motivated and
try moving forward again

4. Instils self-discipline: If the individual

doesn’t have any proper discipline, then
it will be hard for them to achieve a
certain goal. Try to discipline yourself
and focus on the method that you could
use to achieve this goal.

5. Reminds you off your priorities :

Knowing what your priorities are is a sure
way of achieving a goal. Set up your
priorities and know what your priorities
are. List them if possible and try to
achieve these goals one at a time.

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 GOAL SETTING

6. Let’s you do your best: Setting up your

goals can help you to grow beyond your
limits and be a more strong and reliable
person.

7. Gives you something new to think:

Setting up goals makes more creative and
innovative with course of time. Hence it
helps in creative thinking. This will help
you get a new perspective of things and
helps you achieve your goals in a
consistent manner.

8. Helps manage your time: Set your own

timeline and try to achieve as many goals
as possible within that timeline. This will
help you to be more adaptable under
pressure.

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 GOAL SETTING

9. Obliges to act: Simply just setting up a

goal won’t help you to reach anywhere.
Try to take actions along with it. Goals
make you feel obligated to act to reach
the goal.

10. Gives a sense of containment: When

achieving a goal, it will give you a sense
of gratification, when you set up your
goals. This will you make you happier and
satisfied as an individual.

SMART GOALS OBJECTIVES IMPORTANT

SMART goal setting brings structure and

trackability into your goals and objectives.
Instead of vague resolutions, SMART goal
setting creates verifiable trajectories
towards a certain objective, with clear
milestones and an estimation of the goal's
attainability. The objectives of SMART goals
are as follows:

• Process objectives: Let’s you know how

well the project can be done and how the
project can be achieved. Describes about
the participants, their activities and
behaviours.
• Impact objectives: Let’s you know what
the long-term effects are from the
project. How well does the project
impacts on others?
• Outcome objectives: Let’s you know what
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 GOAL SETTING

kind of results are formed during the

completion of the project. How it will
affect the knowledge and the behaviour
of the target audience.
• Personal objectives: Personal
development is an ideal factor for the
Smarter goals.

DIFFERENT TYPES OF GOALS IMPORTANT

Every goal or objective, from intermediary

step to overarching objective, can be made
S.M.A.R.T. and as such, brought closer to
reality. There are three types of goals. They
are:

• Long term goal:

These include tasks of having long term of

planning and thought, usually having a
duration of more than 5 years. This means
more hours of hard work and more
commitment towards the goal. The result of
such a goal is usually life long and has its
effects on the individual’s life.
For example: Completing a degree course.
• Intermediate term goals:
Usually having a duration between 1 -5 years.
It is considered less burdensome t han
completing a long-term goal. But still
considered as fruitful. Less time is also
given for such goals.

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 GOAL SETTING

For example: Strict Diet plan

• Short term goals:
These goals have a duration usually less than
a year. The more focused and hardworking
the individual is, the faster the goal will be
reached. Moreover, such goals do have a
slight impact on the individual’s life though
the effects are not long lasting.
For example: Earning money

BENEFITS OF SMART GOALS

SMART goal setting also creates

transparency throughout the company. It
clarifies the way goals came into existence,
and the criteria their realisation will
conform to. So don't 'stop procrastinating',
but 'achieve a daily discipline' . The benefits
of SMART goals are as follows:

• They aren’t vague in nature: Vague goals

don’t help you to keep on track. Specific
ones help you to focus on what you want
to achieve. This will also help you to
make modifications along the way when
you attain your goals.
• Plans are incorporated: Multiple
activities can be incorporated into a
single goal. For example, when you set a “People with goals succeed
goal (in this instance, let’s say riding a because they know where
bike), we need the right equipment they’re going”
(helmet, shoulder and knee padding), and Earl Nightingale
something to track your goals (fitness
tracker). Hence multiple tasks are coming
together.
• Quicker to identify missed targets: Easier
to measure what the status of the goal is.
Moreover, it is easier to recognize who is
performing well and who needs assistance
in the long run. If you have missed a step
during the process, it is easier to map and
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 GOAL SETTING

identify which step it was when you have

a specific goal. For example, it is easy for
sales executives to keep track of what is
happening in a week-to-week basis rather
than keeping track of sales in an annual
basis.
• Easier to visualize what success looks
like: Progress is easier to monitor and
acts as a gauge to evaluate yourselves.
Hence, it is easier to predict what the
results are in the long run and how the
results are in the end.
• Divide large goals into small attainable
ones: Try to solve the problem in
successive manners. The first step is to
divide the set goal into small attainable
goals. Do not try to exhaust yourselves by
taking up a very large project. Try to
divide the project within yourselves
within the group.
• Try to complete each goal one at a time:
Try to achieve the set goals into small and
intermediate achievable goals. This will
help you to narrow the distance between
the start and the finish line.

LIMITATIONS OF SMART GOALS IMPORTANT

Setting up of SMART goals also makes you

to ignore the underlying results of goal
setting. This includes spirituality, wisdom,
and getting happy of what you do. Too much
of SMART goal setting can set you up in a
trap into being greedy in success. This can
cause discord among employees. This
includes:

• Achievement addiction: Achieving goals

periodically might lead you to an
achievement addiction, where the
individual is solely focused on attaining
the goals alone and ignoring other aspects
such as health, social relations, and
spirituality. This might lead the person to
be isolated from the rest of the group and
in severe cases, may cut off ties with
people.
• Spiritual starvation: While constantly
achieving goals, there can be an
underlying effect on the individual that
is, a form of spiritual starvation. When
constantly working under the clock and
under pressure, the person ultimately
loses the value and the purpose of life.
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 GOAL SETTING

• Identity confusion: Being under constant

pressure can make the individual question
his/her identity in the society. This
causes a form of identity crisis within the
individual. Hence the repercussions cause
the individual to perform in their private
life and ultimately feel sick of it.
• Goal setting failure: When a person who
is repeatedly achieving goals, through
goal setting, does not achieve a certain
goal due to some certain circumstances,
it causes a serious case of feeling
depressed. This causes a dire an d
substantial drop in one’s self confidence.
Hence it causes the individual to think
that he/she is useless. Just because you
didn’t achieve a goal, doesn’t mean that
it is the end of the world.
• Goal setting idolatry: Another factor of
this goal setting method, is setting up
goals just for the sake of goals and tries
to engross themselves in activities that
are not even match with the task itself.
For example: Just to make money, people
try to consort to practices that are not
even congruent with their ideals. Usually
these kinds of activities have a negative
impact on their social status and how
people see them in a society.
• Goal setting marathon lifestyle:
Constantly working under a constant fast
paced and time bound environment
causes drastic changes in the lifestyle of
the individual. This causes deterioration
in health conditions and causes too much
stress on the individual. Long term goals
require lots of energy and focus. So, it is
advisable to take sufficient rest in
between after successive projects.
• Overly ambitious approach: Do not try
to set and achieve goals at once. This
won’t let you anywhere. Try to focus what
your priorities are and then take singular
steps to maintain the final objective

EXAMPLES OF SMART GOALS

“SMART Goals may be
If a person wants to start a business, then achievable, but vision driven
his SMART goals will be classified this way: goals are out of reach”
Dan Rockwell

Broad Goal: I want to start a business.

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 GOAL SETTING

1. Specific: I will sell ha ndmade cards

through Etsy.com.
2. Measurable: I will be ready to take my
first Etsy order within four weeks, and I
will aim to sell a minimum of five cards
per week.
3. Attainable: I will get set up on Etsy first.
Then I will build an inventory of 30
handmade cards to sell. Finally, I will
promote my business and build customer
relationships through word-of-mouth,
referrals and local networking.
4. Relevant: Selling handmade cards will
allow me to benefit financially from my
favourite hobby.
5. Time-Based: My Etsy store will be up and
running within four weeks, and I will
have an inventory of 30 cards to sell
within six weeks.
SMART Goal: Within a month, I am going
to get set up to sell handmade cards on Etsy,
which will allow me to benefit financially
from my favourite hobby.

Within six weeks, I will have an inventory of

30 handmade cards to sell and aim to sell a
minimum of five cards per week, building
customer relationships through word of
mouth, referrals, and local networking.

ACTION PLANS
ACTION PLANS - WHAT IS IT? IMPORTANT

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 GOAL SETTING

An Action plan is a detailed plan outlining

actions needed to reach one or more goals.
An action plan is a "sequence of steps that
must be taken, or activities that must be
performed well, for a strategy to succeed".
An action plan is a document that lists what
steps must be taken to achieve a specific
goal.

The purpose of an action plan is to clarify

what resources are required to reach the
goal, formulate a timeline for when specific
tasks need to be completed and determin e
what resources are required.

TIPS TO KEEP IN MIND BEFORE IMPORTANT

PLANNING
The challenge comes in creating and
following a plan to make our goals a reality.
During the initial days of setting a goal,
enthusiasm drives motivation to achieve
results. But it isn’t long before it’s life as
usual and the goal is a distant memory. If
you’re ready to realize your goals, you need
a plan. Following are the few ways to
concentrate on before planning.

• Make Sure Your Goals Are SMART:

SMART goals give you clarity and a
deadline for achieving them. Here is a
basic definition of SMART goals:
Specific: Your goal is clearly defined. “I
want to make more money,” is vague. “I
want to make $10,000 per month,” is “If you spend too much time
specific. thinking about a thing, you
Measurable: You need to quantify your will never get it done”
goal so you know you achieved it. This is Bruce Lee
where being specific helps. What
constitutes "more" in more money?
Whereas a specific dollar amount is
measurable.
Attainable: It’s good to set goals that
make you stretch and challenge yourself,
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 GOAL SETTING

but you set yourself up for frustration

and failure if your goal is impossible.
Relevant: Your goals should fit within
your ultimate plans in life.
Time: You’ve set a date by which your goal
will be achieved.
• Work Backwards to Set Milestones: A
challenge to reaching goals is that often
the due date is so far away, many people
put off acting until it’s too late.
Instead, looking at the amount of time
you have and the goal you want to reach,
create mini-goals that move you toward
the big goal. For example, if it’s your goal
to make $10,000 a month in your business
within six months, create mini -goals of
how much you’ll earn at the end of one
month (i.e. $2,000/month) and three
months (i.e. $5,000 per month). You’ll
know you’re on or off track when one and
three months comes, and you’ve hit or
missed your mini-goal.
• Determine What Needs to Happen to
Reach Your Goals: During this step, get
specific on what it takes to reach your
mini and big goals within the time frame.
Using the $10,000 a month goal example,
to make more money, you need to get
more clients or customers. In this step,
you want to determine how many clients
you need to make $5,000 and $10,000 per
month in your business. How many
prospects need to enter your sales
process? How many pitches need to be
made to generate a sale?
• Decide What Actions Are Required to
Reach Your Goals: What tasks do you
need to do regularly to fulfil #3 and your
goal? For example, if you need to talk to
10 people to make two sales, what actions
do you need to take to find 10 people? If
you need to have 100 leads to find 10
people to talk to, what actions will it take
to find 100 leads?
In business, the tasks in this section
usually involve marketing and guiding
people through your sales funnel.
However, it also involves providing a
quality product or service and keeping
your customers and clients happy so
they’ll keep coming back and/or refer
new prospects.

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 GOAL SETTING

• Put Your Actions into a Schedule: When

you complete #4, you should have a list
of tasks that need to be completed to
reach your goal. Now it’s time to put
those tasks into your schedule by making
a daily plan. These are the tasks you do
each day to generate the prospects and
leads. It’s also the tasks you do to create
and deliver your product or service. It’s
your job.
If you’re starting a part-time business
around an already busy life, it can be a
challenge to add more tasks to your daily
routine, but it’s crucial to achievi ng your
goals. One way to make it all work is to
learn how to manage and maximize your
time.
• Follow Through: Once you’ve completed
the above steps, you should have your
daily schedule and targets to shoot for
during the process of working on your
goal. The next step is to follow your
schedule.
Do the daily tasks you’ve assigned
yourself to do. That seems like a no -
brainer, and yet most people don’t
achieve their goals because they don’t do
the work.
While you're at it, keep track of your
accomplishments and results. Set aside
time every month or so to evaluate how
well your plan is working and tweak it if
you're not make the progress you want.

THREE STEP PROCESSES IN IMPORTANT

ACTION PLANS
Action Plans are simple lists of all the tasks
that you need to finish to meet an objective.
Simply list the tasks that you need to carry
out to achieve your objective, in the order
that you need to complete them. Use the
three-step process below to help you:
• Identify Tasks
• Analyse and Delegate Tasks
• Double-Check With SCHEMES
Step 1: Identify Tasks
Start by brainstorming all the tasks that you “Don’t wait until you are
need to complete to accomplish your ready to take action. Instead,
objective. take action to be ready”
It's helpful to start this process at the very Jensen Siaw
beginning. What's the very first action you'll
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 GOAL SETTING

need to take? Once that task is complete,

what comes next? Are there any steps that
should be prioritized to meet specific
deadlines, or because of limits on other
people's availability?
Step 2: Analyse and Delegate Tasks
Now that you can see the entire project from
beginning to end, look at each task in greater
detail.
Are there any steps that you could drop, but
still meet your objective? Which tasks could
you delegate to someone else on your team,
or could be dealt with by a freelancer? Are
there any deadlines for specific steps? Do
you need to arrange additional resources?
Step 3: Double-Check With SCHEMES
Use the SCHEMES* mnemonic to check that
your plan is comprehensive. SCHEMES
stand for:
• Space
• Cash
• Helpers/People
• Equipment
• Materials
• Expertise
• Systems
You may not need to think about all of these
to complete your project. For instance, for
a small internal project to streamline the
format of your team's reports, you might
only need to think about "Helpers/People,"
"Expertise," and "Systems."

ADVANTAGES OF ACTION IMPORTANT

PLANNING
Planning is an important prerequisite for
attaining the cherished goals of a business
enterprise. Of all the managerial activities,
it comes first because of the following
benefits:

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 GOAL SETTING

• Planning leads to more effective and faster

achievements in any organization.
• Planning foresees the future and makes a
provision for it, it gives an added
strength to the business for its steady
growth and continuous prosperity.
• It secure unity of purpose, direction and
effort by focusing attention on the
objectives. Hence, unnecessary
duplication, overlapping and cross-
purpose workings are eliminated.
• It has the effect of minimizing the cost of
operations.
• It ensures an even flow of work, minimizes
false steps and protects against unwanted
deviations.
• It enhances the efficiency of other
managerial functions.
• It provides an effective basis for control
in all organizations whether small or big.
• It facilitates the process of decision -
making.
• It enables the management to implement
future programmes in a systematic way so
that the management may get the
maximum benefit out of the programmes
framed. It enables all the activities to be
conducted in an orderly and coordinated
manner to achieve the common goals of
the enterprise.
• With the rapid growth of technological
development, it is essential for a manager
to keep abreast of the up -to-date
technology. Otherwise, the products are
likely to become obsolete. Planning helps
in this process.
• By avoiding waste of men, money,
materials and machinery, planning
indirectly leads to large-scale economies.
• Planning encourages the sense of
involvement and team spirit. Planned
targets provide a basis upon which good
performances can be rewarded and poor
performances can be improved.
• Planning is the essence of all management
activities. Once it is. done well, other
activities automatically follow.
• It educates people. It orients people. It
gives them a sense of direction and the
stimulating feeling that their efforts are
being put to useful purpose, rather than
being wasted. They begin to feel that they
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 GOAL SETTING

are worthy partners in a productive

enterprise.

DISADVANTAGES OF ACT ION IMPORTANT

PLANNING
Planning aims at forecasting and providing a
means for examining the future and drawing
up a plan of action. The very purpose of
planning is to develop creative and
innovative policies to guide company’s
activities in the marketplace. There are many
obstacles in the path leading to successful
planning. They are:

• Accuracy of facts and information about

the future is one of the limitations of
planning. According to Terry, Managerial
planning can be made accurately only if
the events in future are predicted
accurately. Often adequate facts may not
be available.
• Time, money and effort are required in the
collection and analysis of data and in the
formulation and revision of plans. It is a
time-consuming process. It is an
expensive process. Planning i s useful
only when the expected gains from it
exceed its costs. Often it is remarked that
the cost of planning is more than its
actual contribution.
• Planning takes time i.e., adequate time.
Sometimes, it may cause delay in taking “A good plan implemented
decisions. A manager may be bogged today is better than a perfect
down by procedures, rules, etc., when plan implemented tomorrow”
quick decision is essential.
George Patton
• Planning may create a false opinion that
all problems will be solved if the plans
are implemented. In practice,
management has to revise the plans
continuously and check on their
execution.
• Another major limitation of planning is
that there are various alternatives to
combat certain problems. Every
alternative has its own merits and
limitations. Every alternative presents
different results also. In this way,
diversity of alternative s causes many
difficulties in the way of formulating
planning.
• The effectiveness of planning may be
greatly influenced by external forces, the
controllability of which is not in the
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 GOAL SETTING

hands of planners. Government control,

natural calamities, etc., may creat e
hurdles in the implementation of
managerial plans.
• It makes the entire organizational set up
extremely rigid.
• It leads to probable results and not
assured goals.
• Machinery of planning cannot be free from
bias. Forecasting methods, statistical
data supplied, etc., are all inaccurate and
the results of operation research cannot
be applied to all cases that come under
planning.
• In the planning process, the qu ality of the
output depends upon the quality of input.
• Tendency towards inflexibility or
reluctance to change, is another drawback
of planning.
• It encourages a false sense of security
against risk of uncertainty.
• Standing plans demand repetitive
operations, but in the absence of such
operations, plans lose their significance.
• Despite the serious limitations, planning
is still recognized as the foremost
function of the management. It is no
doubt that unplanned operations shall
produce chaos and disorder everywhere
without exception

OBSTACLES – FAILURE MANAGEMENT

WHAT DO YOU MEAN BY
FAILURE?
Failure is the state or condition of not
meeting a desirable or intended objective
and may be viewed as the opposite of success

“Failure is success if we learn

from it”
Malcom Forbes

OBSTACLES TO SUCCESS AND

SUGGESTIONS FOR
OVERCOMING THE CHALLENGES

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 GOAL SETTING

• Lack of Focus: More than 90% of people

have identified lack of focus as their
biggest obstacle to success. Does this
describe you? You jump around from one
project to another. You have one hundred
half-finished projects laying around.
You’re confused and wonder why success
seems to evade you. Soon y ou give up
believing the goal was unrealistic in the
first place.
You need to learn self-discipline. The
first thing you want to do decide exactly
what your objective is. The next thing is
weed out all your unfinished projects that
will not assist you in achieving your goal.
Prioritize your tasks and finish it before
moving to another. If you find yourself
drifting, you need to stop and remind
yourself of what you are attempting to
accomplish and why.
• Perfectionism: You are a perfectionist.
You finish your project, but you don’t
think it’s quite right. You tweak it a little,
and then begin to wonder what else isn’t
right. You don’t want to put it out there “Success is not final, failure is
until you are sure it is perfect. You need not fatal: It is the courage to
to learn to take a risk. Put it out there, continue that counts”
it’s just fine. Nothing is ever perfect. Winston Churchill
There’s always room for improvement.
• Lack of Money: Many people believe the
saying “It takes money to make money”.
While this may be true to an extent, it is
an obstacle that can be easily overcome
because if you truly desire something you
can always find the money. It may be a
matter of skipping a night out on the
town or brown bagging it to work
Fear: You’ve probably heard the term,
“Fear of Success”. If that’s the way you
feel, there’s usually an underlying reason.
Before you can overcome fear, you need
to figure out exactly what you are afraid
of. Often once you realize exactly what
your fear is, it dissipates. You have
something of value to offer the world.
Visualize what life will be like when you
succeed.
• Time: Everyone is allotted the same
amount of time, 24 hours a day, and 365
days a year. It’s your choice how you
spend your time. Everyone seems to find
the time to do things they enjoy.

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 GOAL SETTING

By dedicating just an hour a day towards

your goals – you will achieve them. For
good time management skills, you need
to: Make and follow a Daily to -do list,
Prioritize, Clear away physical and mental
clutter, Delegate whenever possib le and
Learn to say NO.
• Conflict: This could be an inner conflict
within yourself, a conflict with your
significant other or a business partner.
To be successful you need to follow your
passion. Your goals need to be personal.
It must be something you des ire with all
your heart, mind and soul. You can’t try
to do something that goes against your
personal ethics and morals. You will be
in constant distress and will lack
motivation to do anything.
• Distractions: Don’t allow distractions to
get in the way of you achieving your
dreams. Distractions are just a form of
procrastination. Distractions can be
anything from getting up for a cup of
coffee, taking the kids to school, talking
on the phone or watching TV.

MAKE SURE YOU REVISE

✓ BENEFITS OF ACTION
PLANNING
✓ DEFINITION OF ACTION
PLANNING
✓ DISADVANTAGES OF ACTION
PLANNING
✓ IMPORTANCE OF SMART GOALS
✓ TYPES OF SMART GOALS
✓ STEPS IN ACTION PLANNING
✓ SMART GOALS OBJECTIVES

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