Understanding Management (MindTap Course List)
Understanding Management (MindTap Course List)
10th Edition
ISBN: 9781305502215
Author: Richard L. Daft, Dorothy Marcic
Publisher: Cengage Learning
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Chapter 5, Problem 7DQ
Summary Introduction

To discuss:

How to decide where to draw the line between a "good" stretch goal and a "bad" one that is unrealistic.

Introduction:

Planning is a process of making the plan before executing any work. The process of planning includes identification of goals and objectives, formulation of strategies, creating the means required and implementation and monitoring.

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Goals that are overly ambitious can discourage employees and decrease motivation, yet the idea of stretch goals is proposed as a way to get people fired up and motivated. As a manager, how might you decide where to draw the line between a “good” stretch goal and a “bad” one that is unrealistic?
To compare and contrast goal setting and objective setting and the importance of these two processes for a manager Explain the difference between setting goals and setting objectives. What are the potential negative ramifications that can be created if they are not met, with regard to a major project and the organization as a whole?
Roy, an entrepreneur, has worked for years on developing his business idea and on ensuring a good implementation of his strategy. However, years into the business, Roy discovered that the profit he set to reach, in 5 years-time, is not attainable and is disappointed with the results.  What is benchmarking? How can Roy make use of this concept when planning and setting goals?
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