Top Management has set forth Shea Moisture organization major goals that are to increase the sales margin by 4 percent by the end quarter of the year, and the objective goals of Shea Moisture organization presently are to increase the hair products sales by 4 percent by the end of the last quarter of the year and decrease the defective beauty products ratio by 2 percent by the next quarter of the present year. According to Brian Hill, goals and objectives are statements of what you want your small business to accomplish. Goals are usually set first, followed by objectives that help you measure your progress toward those goals. After establishing your goals and objectives, determine the specific actions and steps required to reach them (2018).
All set ups will have specific ‘Aims and Objectives’ for their respective businesses. Aims are the broad terms
The board could hire business minded individuals to help come up with ideas to reach their strategic goals. Objectives are mini-goals. They are smaller, vital steps to reaching your ultimate goal along the path of your stated business strategy. In other words, to determine what your business objectives are, you must commit your company to your strategy. A full commitment will focus on objectives. I think whatever strategy that they have, it’s need to be a decisive decision to implement the goals set forth.
L’Oreal is the largest beauty company in the world and in the past 100 years that it has expanded, it has supplied to 130 countries with offices in 58 different countries. This global company is the number one premium cosmetic product in the world today and has taken the core and beauty of people’s everyday lives since 1907, the beginning of L’Oreal. The superior leadership of a guy named Eugene Schueller started this strategic company with basic products such as hair care and also the first man-made hair color product. Five years later you could find these products in Austria, Italy, and the Netherlands. In 1934 Eugene invented the first mass market of soap less shampoo and this led the success of L’Oreal in the country of Europe which soon recognized them as the leader in body care and hair coloring products. Finally soon after World War II L’Oreal moved into the United States and the company seemed to change. When L’Oreal expanded the competition was more involved and more growth was needed in order for the company to be more successful. With problems like this, the strategy and planning that has been applied in L’Oreal has been huge for the success of the company. L’Oreal realized they needed to expand in other fields of the beauty market and target markets in order to stay alive and successful. This would mean that L’Oreal would need to acquire other companies as part of their expansion and through this they have kept the constancy of the leading company with acquisitions of many small companies. Finally in the 1980s they started their globalization into new markets all around the globe by acquiring new companies that would form the cosmetics that we know today. Although the role of acquisitions has never been the main focus of the company, internal growth and strategy was the number one reason for L’Oreal becoming such a big name. The main strategy was to adopt new companies and expand it from within believing that the brand could be taken globally and benefit their overall brand portfolio. The main role of acquisitions was to increase and lengthen the internal growth rate. L’Oreal started acquiring companies from the beginning of their name. They started with the basics of their own brands such as L’Oreal Professional, L’Oreal Paris, Kerastase, and Club des Createurs de Beaute.
These goals are often found in written form and having proper documentation which are commonly found in businesses like a business specific goal can be to start a new setup, hire employees, improve quality and expand production with lower cost. Such goals could be short term but often long term.
Setting goals in some cases is intense, though the harder step is choosing the correct goal. Goal setting is an essential strategy for settling on what is expected to accomplish in your life, by separating it into vital and immaterial parts. It will help you endlessly pursue with fearlessness, the effective accomplishment of said goals. One can pick a goal that you feel important for your wellbeing, solidity, and happiness. There are many advantages in setting goals. Setting goals can leverage in achieving, improving more in a lifetime. It also boosts the self-confidence of an individual.
Goal is an observable and measurable end result having one or more objectives to be achieved within a more or less fixed time frame ((BusinessDictionary.com, 2015). In this Fresh Mart project, there were 2 goals which were stated goal and real goal. The stated goal of this project was to gain profit for raising funds to help out someone who is in need. However, for real goal, it was a part of assignment for Accounting which every first-year’s degree students must be completed. Besides, financial goal is a goal that set to revolve around finance or money (Study.com, 2015). It was also considered as a financial goal that we needed to earn RM 2,500 profits by selling the vegetables and fruits within 5 hours and donated the 60% of profits for
Setting goals is the most important thing you can do in your life. Without goal's you are going to have no direction, no ambition to be successful, no drive to stay in school, and trouble finding a career that will provide for you. Without these three things, achieving your goals is going to be one of the toughest tasks in the years to come.
Nowadays, the entire businesses activities need to set objectives. Objectives will be a guideline to the organizations in order to achieving the goals. Then, objectives may contain the focused actions or activities that need to be done by the company or organization. One of the methods that can be applied to developing objectives is by using SMART objectives. SMART objectives are the most efficient way to build up the objectives. What are the SMART objectives? SMART is an acronym that stands for:
Short-term objectives: are to expand the workforce for anticipated growth, expand further into international markets, and continue developing new products.
Goals are something everybody needs to have, without them where are you going? What are you doing and why are you doing it? My personal goal is to stay vegan and to stay healthy. My academic goal would be to go to all of my classes, to not get grades under a B, and to understand what I am being taught. Lastly, my career goal, I do not want to work a 9-5, I want to be doing something I really enjoy doing.
2. Sales-target objectives - are specific, quantitative, realistic marketing goals to be achieved within a specified time period.
a set of organizational goals that are used to operationalize the mission statement and that is specific and cover a well-defined time frame. The Vision organizational goal that suggested powerful and compelling mental images. Mission statement a set of organizational goals that include both the purpose of the organization, its scope of operations, and the basis of
Objective is a specific result that a person or system aims to achieve within a time frame and with available resources. Objectives are also the stepping stones which guide us to achive our goals.
Goals of the organization will help in the measurement of success rate of the organization. Goals here refers to
The success of an organization in today's competitive business environment is related to the core of existence of such organization. Whether large or small scale enterprise, it is expected that every business must have certain guidelines and principles which form the basis for its existence. In this case, we may refer to such principles and guidelines as the mission, vision and values of the organization. Goal settings are very often derived from the vision and mission of an organization and finding ways to achieve these goals can be referred to as strategy development (Pilbeam & Corbridge, 2010: 38-42).