Examples of Business Goal-Setting Theory

Topics: Management, Motivation, Business Pages: 2 (456 words) Published: August 29, 2013
Examples of Business Goal-Setting Theory
by Mary Jane, Demand Media
Business owners will often set individual goals to motivate employees and reach company objectives. Goals that are hard to reach are often more intriguing, as more work is required to fulfill them. Edwin A. Locke introduced the theoretical approach to setting goals and building motivation, which can be directly applied to a professional setting. In fact, this type of goal-setting theory is one of the more useful motivational theories used in industrial and organizational psychology and management.

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One part of business goal-setting theory is creating clear and focused goals that are obtainable. Having a goal of pulling in $100,000 in business profits within a single year may not be obtainable for a small business owner. A clear and focused goal may be to get $50,000 in profits based on $20,000 in product sales, $10,000 from investments and $20,000 from service sales. A single goal must have a plan to reach the goal, whether it is a monthly plan with mini-goals or a weekly plan for short-term goals.

Commitment and Teamwork
Employees of a given business may be more committed to a goal if they are a part of setting the goals and deadlines. In addition, a team may also work closer together if they have a mutual goal. Commitment and responsibility to a goal may also increase the motivational level within the business. In addition, each employee may have his own goal, but keep all workers informed of larger goals to ensure continuous commitment and teamwork in a business.

Feedback and Progression
Another theoretical perspective on setting successful goals in a business environment involves getting feedback from managers and other employees as the work towards the goal progresses. Part of the feedback includes getting clarity on tasks, adjusting...
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