Setting Team Objectives in the Workplace - Assignment Example

Setting Team Objectives in the Workplace YourFirst YourLast Question Effective time management can lead to a myriad of benefits. Through effective time management, employee would achieve a better quality of work. When employees manage their time properly, they can save more time to doing their assigned projects with sobriety. Also, through effective time management, employees can relax knowing that there is enough time to complete the assigned task. Good time management is an incentive to improving the morale of employees. When employees are relaxed, they remain calm and can work more readily as compared to their colleagues under a pressure of limited time. Good time management is also attributed to doing things in a faster way. In fact, there is nobody who would not want to do things in a faster way. Therefore, it is no secret that things can be done much faster when the time is managed in a better way. Finally, good time management is an incentive that leads to improved productivity. When employees utilize techniques of time management such as calendars, their organization is improved. A well-managed time is equated to higher output, and it in turn creates more opportunities. Question #2 There is a broad range of time management techniques and practices. They include (1) diary, (2) make and use lists, (3) tickler files, (4) meetings, and (5) block your time. Question #3 One of the workplace time management techniques that can be employed to attain a personal objective is ‘make and use lists’. They are four basic lists, which include (1) my schedule, (2) Things-to-Do List, (3) people –to Call-list, and (4) conference planner. My schedule is the list for the entire year, day by day, which can be employed to attain personal objectives. The list helps one to focused and manage time well. The things-to-do list is a list if things to be done, organized by month, week and day. This list is prioritized alphabetically. People –to-call list comprises of individuals to be called and is organized alphabetically. The last one is conference planner is a page for each individual one’s interact with a lot. Concisely, an individual to achieve his /her objectives can use make. Question #4 Workplace team objectives are an important tool for the organization because of the various benefits associated with it. As a matter of fact, every group that wants to achieve its goals has to be deeply founded on a sense of mission. Workplace team objectives are more important to the organization than individual agendas. Through team objectives, a team is bound together and kept in a unified manner even when internal disagreements or obstacles are high. Additionally, workplace objectives can become an incentive to productivity if everyone involved understands the mission and buys into the idea of moving the group forward. Conclusively, workplace team objectives are the way for every group to go, as that is the foundation upon which successful teams are built. Question #5 SMART Objective is a widely used technique for setting objectives. The following is my SMART objectives. Specific: I will sell e-books through Amazon.com Measurable: I will be ready to take my first Amazon.com order within three weeks and will aim at selling a minimum of four e-books per month. Attainable: I will first sign up with Amazon.com and write four books to sell. Next, I will promote by e-books through various social sites such as twitter, Facebook, and Google +. I will also build customer relationship through face-to-face and referrals. Relevant: Selling e-books will allow me to make extra coins hence becoming financially capable. Time-Based: My Amazon.com store will be created within one week and it will started running immediately and I will have a total of four e-books to sell within four weeks. Methods of Monitoring Progress against Objectives The main contributing factor to effectual monitoring and evaluation of performance is to identify a variety of ways so that an individual is capable of selecting the best set of methods, easiest to apply and choosing the methods that are best suited depending on the task. Objectives help in short-term evaluations, and they assist in executing long-term goals (Jeffs, 2008). Therefore, for objectives to be effective, it is necessary that they be well defined, clear and to the point. They also need to be measurable and must have time factor attached to it. Objective Specific objective Scale / level Time limit / ETC Financial Objectives Increase revenue 10% increase 1 year Decrease expenses 7% decrease in operating expenses 9 months Increase profit after tax Increase net profit by 25% 15 months Customer Objectives Expand sales 1% sales for current customers 50% for new clients 3 months target Retain customers 100% customer retention 12 months review Operational Objectives Ensure top quality of production Maintain the best staff members, increase quality control, ensure checks and balances 12 months The following are the steps for measuring progress against the set targets. Procedure 1 The initial process is to define the objectives that are required to be met. The nature of the expected work should be also defined. There should also be processes and procedures for checking whether the work done is satisfactory. Procedure 2 The second stage involves measuring the total quantity produced per unit input. Numbers are important because they show exactly the levels of production, and the elements sacrificed to achieve that desired objective. Procedure 3 Checkpoints need to be established to gauge whether the set standards and timelines are corresponding to the output (Sadler, 2003). The timelines should be altered in cases where they were underestimated or overstated. Progress review may be carried out quarterly or half-yearly. Procedure 4 The management should engage the staff members on the ground to evaluate the progress of the project. Staff members should fill in self-appraisal sheets to report on the progress. Many times, the company objectives usually differs in principle with the workers perceptions. Procedure 5 The management should strive to motivate the staff members by offering feedback on the workers’ contribution to the organizations bottom line. Written or oral feedback boosts the morale in many organizational set up. Review achievement of SMART objectives against success criteria SMART objectives are specific and measurable. They are also aligned to the company’s long-term goals, relevant and constrained by time resources. Many activities when applying this method are dependent on if the stated objective is associated with elements that are of importance to the organization. They are also dependent on whether the management is willing and able to commit the available resources. In organizations and individuals alike, the distribution of resources many times denotes priorities once set in the past and needs. While formulating SMART objectives, individuals should be mindful whether the planned results are consistent with and directly applicable with the bigger strategic objective and anticipated result. They should also evaluate the incomes expected from their drive in order to establish the worthiness of the investment required. Objective Specific objective Achieved so far Time limit / ETC Financial Objectives Increase revenue 3% increase 16 months Decrease expenses 5% decrease in operating expenses 9 months Increase profit after tax Increase net profit by 9% 21 months Customer Objectives Expand sales 3% sales for current customers 70% for new clients 7 months target Retain customers 30% customer retention 12 months review Operational Objectives Ensure top quality of production Highest quality ratio assessment 6 months review Feedback on Team Performance After every period of evaluation has lapsed, it is important to gather self-appraisal forms from staff members in order to gather feedback on many issues, especially pertaining to achieved or non-achieved targets. It helps the management to evaluate and see the areas of improvement in the next evaluation period. Objective Specific objective Target set Achieved so far Feedback Time limit / ETC Financial Objectives Increase revenue 10% increase 3% increase Lack of differentiated products 16 months Decrease expenses 7% decrease in operating expenses 2% decrease in operating expenses Lack of review of policies and operational guidelines 9 months Increase profit after tax Increase net profit by 25% Increase net profit by 9% Partial achievement because of extra effort 21 months Customer Objectives Expand sales 1% sales for current customers 50% for new clients 0.1% sales for current customers 32% for new clients Customers complaints of non-specialized products 7 months target Retain customers 100% customer retention 30% customer retention Poor customer service and lack of required products according to market standards 12 months review Operational Objectives Ensure top quality of production Maintain the best staff members, increase quality control, ensure checks and balances 7 cases of Staff flight and reports of poor control Remuneration competition in the market Better offers offered by competitors 6 months review References Jeffs, C. (2008). Strategic management. Los Angeles: SAGE. Sadler, P. (2003). Strategic management. Sterling, VA: Kogan Page. Read More