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“Our plans miscarry because they have no aim. When a man does not know what harbor he is making for, no wind is the right wind.” Seneca Goal setting acts as a vital tool for measuring progress. It helps you to define the path that leads to ultimate success. Goals map out a direction to walk ahead and challenge you to rise and achieve things that appear impossible at one point of time. Setting goals in corporate world exemplifies the wisdom of a CEO as a leader, mentor, guide, and the first person responsible for the growth of an organization. With stiffer competition, increasing global opportunities, new technologies, and more complex regulations, the significance of goal setting has increased. Here are some things to remember while you set your organizational goals: Set realistic goals It is important to set goals that are achievable. A CEO should first assess his resource pool in terms of man, machine, and finance. The bar can be raised every time you set goals but it should not go beyond your reach. Prepare a draft of your goals If you write down your goals, they will appear more real to you. Maintaining a record of the goals will help you in chalking out strategies and devising ways to achieve them. They may lose their existence, if you try to keep them only in your memory. Categorize your goals Categorization of goals into short-term, medium-term and long-term is a successful technique in reaching your ultimate destination. It helps a CEO to delegate the responsibilities among its subordinates as per their skills and expertise. Consider downsizing, if required Access the skills, strengths, and weaknesses of employees and downsize the goals considering the organizational limitations. Downsizing can also be an appreciated move, if the market appears unfavorable for the business. Prioritize your goals Prioritization is an important aspect of effective goal-setting. Prioritizing the goals as per the circumstances ensures smooth functioning of an organization. While zeroing on priorities, urgency of the goal becomes the deciding factor. Need of a review system for monitoring progress The CEO should in advance develop a review system to keep a track of the progress in the course of achieving the goals. It will help you keep the whole process under control and develop a special action plan if things do not go as per the plan. Set deadlines Goal setting is meaningless without a deadline. If you do not have a deadline, you will probably end up spending a lot of time in procrastinating and waiting for work to be done. It is important to spare some buffer time while setting deadlines as this allows you the space to rectify a miscued attempt. Keep in mind the reasons of previous failures The footsteps of failure can well become the stepping stones to success. A CEO should always remember the reasons of previous failures and should look for some action plan to avoid those trouble spots on the way towards reaching the goal. The experiences of your peers at a CEO Association or CEO Coaching can be helpful here. You may seek professional guidance It sometimes becomes lonely at the top of the hierarchy. This is where the services of a CEO association can prove its worth. At such CEO clubs, you can interact with other business leaders and can get some professional guidance in setting and achieving your goals. A CEO conference is a great platform for sharing your experiences and getting helpful insights on how to get rid of the weaknesses. Being at the pinnacle of the management, CEOs put all their energies and available resources into moving toward that very destination. To have a clear view of the direction and destination help attain higher profits, greater market share, new range of products and services, and dedicated employees.
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CEO Association, CEO Club, CEO Coaching, CEO Conference,
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