Goal Setting Framework - Term Paper Example

Goal Setting Framework Goal setting is the first of the six steps of performance management of an organization.Davis (2013) defines it as “the process of deciding what you want to accomplish and divising a plan to achieve the result you desire” (15). Goals, therefore, need to be specific, measurable, attainable, and realistic and time bound. The goal setting in Los Angeles has risen due to: rising cost of distribution, reduction in circulation revenue, and the current number of the employees cannot continue to be supported if the revenue continues to sink.

The Organization seeks to reduce distribution cost in the next financial year. Due to the rising cost of distribution, Los Angeles Tribune will use any of the following strategies to achieve its set goal; distribute jointly with other producers to the consumers, use digital distribution channel, increase the number of middlemen companies to assist in distributing its products or create new subsidiaries in different cities and towns to reduce the distribution cost. Of all these strategies, the organization shall use digital distribution as one of the most appropriate strategies.

Therefore, the organization will distribute most of its newspapers through online system. This tactic will ensure that customers subscribe for their newspapers for them to get access to the papers. Various activities need to be carried out in order to reduce the cost of distribution such as; proper education of the customers on how they will get the online papers without any constrain and advertising to the public to create awareness of the new move in the organization so that they are not surprised with the new organizations move (Barton, 2001).

This is planned to reduce the cost of distribution by 10% in every month. This measure Barton of success will show the progress of the goal set to reduce the cost of distribution so that the profit realized may increase.The other goal is to increase circulation revenue. The Los Angeles Tribune is making strategies such as to increase the newspaper supply, increase the advertisement efforts or to reduce the prices to attract more customers. With the investigation, the organization has realized that the circulation revenue goes down due to an increase in the prices of its newspaper.

Therefore, one of the tactics that the organization will use is to reduce the price of its papers so that it regains its market share in the next two months. This will be done through reducing other costs, which will result in a cut, in prices. As a measure of success, 5% price cut in every month should result into 10% rise for the paper which will result into increase in circulation revenue (Locke & Shaw, 1981). The revenue should increase by 10 % as goal measurement in every month the price is reduced.

The last goal is supporting employees of the organization even if the prices continue to go down as employees are the most important resources to the organization. Their support is required in every situation that the organization goes through. This would involve engaging them in other income generating activities, agreeing on working reduced hours, reducing the number of employees support or reducing wage cut (Locke & Gary, 2012). The organization will reduce various supports such as housing, travel and medical allowances, which will ensure continued support for employees.

The organization will communicate efficiently on the organization’s situation and accept any changes that may come with it. When this activity is accepted warmly by the employees then it shall be used as a measure for the success of the goal. The goal measurement then shall be a continuous support at a reduced level of up to 20% for every employee’s support. ReferencesBarton, R.B. (2001). Organizational Goal Setting and Planning. Murray State University: Murray, KY. Davis, Jeffery H. (2013). Managing and Achieving Organization Goals.

American Management Association. New York.Locke, Edwin, A. Shaw, Karyll, N. Saari, Lise, M. Latham, Gary P. (1981). Goal setting and task performance. Psychological Bulletin. Locke, Edwin & Gary, Latham (2012). New Directions in Goal-Setting Theory. Blackwell.