Zeeshan Nawaz

Roll # F2021302002
Program: MSCM (2 years)
UMT, Lahore
Courses: Management of Organizations
Assignment:

Q #1 (a) Elaborate the importance and validity of organizational goals?

Answer:
Organizational goals:
Organizations can assume to have a single goal. Businesses want to make a profit, and non-profits want to meet
the needs of a certain group. A single goal, on the other hand, cannot fully describe an organization's success.
Most business objectives can be classified as strategic or financial. Financial objectives are concerned with the
organization's financial performance, whereas strategic goals are concerned with all other factors of the
organization's performance.
"Organizational goals are established in the hopes of achieving a specific level of profit and success.
Organizational goals are generally found in the company's mission statement, but the details of those goals are
stated in the business plan."
Types of organizational goals are:
1. Strategic Goals 2. Tactical Goals. 3. Operational Goals.
Example:

Importance of organizational goals:

Goals are the desired outcomes for individuals, groups, or entire organizations. Objectives are set to a particular
time and thus the same objective is not repeated year after year, month after month or day after day. Goals are
critical to organizational effectiveness as they serve several purposes. Organizations have several different kinds
of goals, all of which must be appropriately managed.

4 reasons why goals are important:-

1. Goals provide guidance and direction 2. Goals intensely planning and actions
3. Goals Motivate 4. Goals help in control
1. Goals provide guidance and direction:
Goals provide people in the organization with advice and control. They show staff where the company is going
and why it is essential to get there. Goals simply state what the company wishes to achieve.
2. Goals intensely planning and actions:
Goal-setting has a significant impact on planning. Good planning supports effective goal setting, and good
planning marked change goal setting. Organizational goals are desired results, and plans are the strongest ways
to achieve them. 
3. Goals Motivate:
Goals can also provide as a source of motivation for staff. Goals that are clear and fairly complex might
motivate people to work harder, especially if they will be rewarded when they are met.
4. Goals help in control:
Goals offer as a monitoring and control system. Performance can be checked and verified in the future based on
how well today's goals are achieved. 
Q #1 (b) What is mission statement and explain significance of Mission Statement?
Answer:
Mission Statement:
Every organization needs a mission, which explains that organization's goals. Managers are forced to identify
what they are in business to do when they define the mission. However, that mission statement can be limited at
times. 
“A mission statement is used by a company to explain, in simple and concise terms, its purpose for being. The
statement is generally short, either a single sentence or a short paragraph.”
For example, Tesla: To promote the world's transformation to renewable energy.
Importance of Mission Statement:

1. Worker can be used as a guide 2. Helps to maintain your focus, energy, and attention
3. Helps to come up with new and innovative ideas 4. Helps in the development of company culture
5. Conveys a marketing messages in the marketplace 6. It motivates people to work hard and take action.
1. Worker can be used as a guide:
The short and long term aims of every organization determine its growth and success. It is also critical for the
firm to carefully create and follow the path forward in order to achieve all of the firm's goals and objectives.
2. Helps to maintain your focus, energy, and attention:
The firm's mission statement isn't simply written with the purpose of giving you and your company a head start
immediately. In fact, the objective is to guide and advise you during your entire professional experience,
including all market cycles and transformation.
3. Helps to come up with new and innovative ideas:
As previously said, understanding the importance of a mission statement in helping a company come up with
strategic concepts and a path forward is extremely important. It also helps in the emergence of new and creative
thoughts that are unexplored, undeveloped, undone, and unusual in nature.
4. Helps in the development of company culture:
The firm's HR department is also responsible for incorporating components of the mission statement into the
firm's regulations and policies.
5. Conveys a marketing message in the marketplace:
The key reason for this is that it sends out a strong brand message throughout the market and industry. It
explains the firm's principles, vision, and strategic plans to industry experts, critics, consumers, vendors,
investors, and other stakeholders.
6. It motivates people to work hard and take action:
Understanding and keeping to the Importance of the mission statement helps in seeking and driving action to
achieve all of the firm's short and long term goals and objectives.
Q #1 (c) Discuss the relationship between organization goals and mission statement?
Answer:
A mission statement is a general statement that explains how you plan to achieve your goals. Plans are a set of
actions for achieving the vision by using the objectives. Goals are expressions of what can be completed in
order to put the plan into action.

Points of Difference Organization Goals Mission Statement

Definition An organizational objective
explains where you want to be
communicates both the purpose
and values of your firm
Answer It answers the question, Where
so we aim to be?
Time The future is discussed in an
organization's goals.
Change Its list where you see yourself
some years from now. Its
inspires you to give your best. Its
shapes your understanding of
why you are working here.
A mission statement explains how you
plan to get where you wish to go. Defines
the purpose and major objectives in
relation to the needs of your customers
and the values of your team.
It answers the question, What do we do?
What makes us different?
A mission statement discusses how the
present will lead to the future.
Your mission statement may change, but
it should still tie back to your core
values, customer needs and visions.