What is the concept of goal

Goal is defined as an objective, condition or something you desire to achieve or attain at any given period or time.

Goals

Goals are important factors in the management process. Goals are the desires that individuals or families are willing to work for. They are more definite and clear than values because they are to be accomplished. They are tangible things, objects, ends or purposes. Goal is an objective or purpose to be attained. They are specific ways of realizing the values one hold.

Definition: Goal is defined as anobjective, condition or something you desire to achieve or attain at any given period or time.

At present, your goals are to com-plete your courses and obtain higher degree so as to get job in your chosen profession. As each of these goals are achieved, new goals, will emerge leading to other higher goals in your life.

Goals, like values, play an impor-tant role in your life. Values give mean-ing to your life. Goals on the other hand, point the direction you want your path to follow. Thus, it can be said that val-ues and goals are inter-related. Values are the vehicles and goals are the highways you use to attain your desired quality of life.

Types of Goals

Goals are classified under the following heads.

They are classified:

I) According to the number of groups:

Individual goals are established byan individual for himself. These are based on his own values. He puts in efforts for their achievement and receives satisfaction to himself, for example scoring 70% marks in the examination.

Group goals are established by thegroup. These are based on the some of the common values and interests of the group members, for example, achievement of 100% result of the class at the S.S.L.C. examination.

II) According to duration for achievement of goals

Throughout life each individual and each family is always seeking some objectives.

According to duration for achievement, goals are classified as short-term, intermediate and long-term goals.

i) Short-term goals

In short term goal, the period of attainment of goal is short. Example is to successfully complete the course of study. Since the achieve-ment is anticipated in the near future, these goals usually involve a time period of six months or less.

ii) Intermediate goals

Intermediate goals are nothing but the link connecting between short term and long term goals. They have definite characteristics and serve a purpose in your life time achieve-ment. The time duration involved in intermediate goals is longer than short term goals. Achievement of these goals is measured in terms of several months or years. For exam-ple, to complete your graduation you will require few years.

 

What is the concept of goal

iii)Long term goal

The duration in achieving this goal is long. Classification differs from the other two, in regard to the time period, the degree of specificity and the extent of active imple-mentation involved in attainment. Long term goals are those you have set for yourself in the distant future.

Long term goals may include one or more of the following – get-ting a good job in chosen pro-fession, getting married, owning home or farm.

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Specific, Measurable, Attainable, Realistic, Timely

What are SMART Goals?

Goals are part of every aspect of business/life and provide a sense of direction, motivation, a clear focus, and clarify importance. By setting goals, you are providing yourself with a target to aim for. A SMART goal is used to help guide goal setting. SMART is an acronym that stands for Specific, Measurable, Achievable, Realistic, and Timely. Therefore, a SMART goal incorporates all of these criteria to help focus your efforts and increase the chances of achieving your goal.

What is the concept of goal

SMART goals are:

  • Specific: Well defined, clear, and unambiguous
  • Measurable: With specific criteria that measure your progress toward the accomplishment of the goal
  • Achievable: Attainable and not impossible to achieve
  • Realistic: Within reach, realistic, and relevant to your life purpose
  • Timely: With a clearly defined timeline, including a starting date and a target date. The purpose is to create urgency.

Specific SMART Goals

Goals that are specific have a significantly greater chance of being accomplished. To make a goal specific, the five “W” questions must be considered:

  1. Who: Who is involved in this goal?
  2. What: What do I want to accomplish?
  3. Where: Where is this goal to be achieved?
  4. When: When do I want to achieve this goal?
  5. Why: Why do I want to achieve this goal?

For example, a general goal would be “I want to get in shape.” A more specific goal would be “I want to obtain a gym membership at my local community center and work out four days a week to be healthier.”

Measurable SMART Goals

A SMART goal must have criteria for measuring progress. If there are no criteria, you will not be able to determine your progress and if you are on track to reach your goal. To make a goal measurable, ask yourself:

  1. How many/much?
  2. How do I know if I have reached my goal?
  3. What is my indicator of progress?

For example, building on the specific goal above: I want to obtain a gym membership at my local community center and work out four days a week to be healthier. Every week, I will aim to lose one pound of body fat.

Achievable SMART Goals

A SMART goal must be achievable and attainable. This will help you figure out ways you can realize that goal and work towards it. The achievability of the goal should be stretched to make you feel challenged, but defined well enough that you can actually achieve it. Ask yourself:

  1. Do I have the resources and capabilities to achieve the goal? If not, what am I missing?
  2. Have others done it successfully before?

Realistic SMART Goals

A SMART goal must be realistic in that the goal can be realistically achieved given the available resources and time. A SMART goal is likely realistic if you believe that it can be accomplished. Ask yourself:

  1. Is the goal realistic and within reach?
  2. Is the goal reachable, given the time and resources?
  3. Are you able to commit to achieving the goal?

Timely SMART Goals

A SMART goal must be time-bound in that it has a start and finish date. If the goal is not time-constrained, there will be no sense of urgency and, therefore, less motivation to achieve the goal. Ask yourself:

  1. Does my goal have a deadline?
  2. By when do you want to achieve your goal?

For example, building on the goal above: On August 1, I will obtain a gym membership at my local community center. In order to be healthier, I will work out four days a week. Every week, I will aim to lose one pound of body fat. By the end of August, I will have realized my goal if I lose four pounds of fat over the course of the month.

The Importance of SMART Goal Setting

Often, individuals or businesses will set themselves up for failure by setting general and unrealistic goals such as “I want to be the best at X.” This goal is vague, with no sense of direction.

SMART goals set you up for success by making goals specific, measurable, achievable, realistic, and timely. The SMART method helps push you further, gives you a sense of direction, and helps you organize and reach your goals.

Additional Resources

Thank you for reading this guide to SMART Goal-setting in business. Below are additional free resources from CFI, the global provider of financial analyst certification courses.

  • Emotional Intelligence
  • Time Management
  • Leadership Traits
  • A Sense of Purpose at Work

Whats is a goal?

A goal is an objective or target that someone is trying to reach or achieve. Goal is also the end point of a race or something that a player is trying to put an object into as part of a game. Goal has other senses as a noun. A goal is an aim or objective that you work toward with effort and determination.

What is mean by goal in management?

Management goals are achievement plans communicated to employees. They are specific and clearly defined objectives used to engage employees in the company process and increase performance.

What is goal in life define?

Life goals are all the things you want to accomplish in your life. Often your life goals are very meaningful to you and can make a lasting impact on your life. They can be large and challenging goals, or they can be smaller and more personal. It all depends on what you want to achieve.

What is a goal with example?

Examples of goals include: I want to become known as an expert in business strategy. I will commit to my career development and learn how to increase sales. I want to be more confident.