Elements of SMARTER Framework, Boag & Son's SMARTER Goals, Formal and Informal Controls - Case Study Example

Goal Setting Elements of SMARTER Framework SMARTER framework of goal setting seeks to add value to the earlier SMART framework by including emotional aspects to goal setting in order to ensure smoother implementation. The main aim of goal setting is improved performance of a corporate entity. With regards to the SMARTER goal setting framework, it mainly founded on the need to have emotional resononance apart from setting practical and achievable goals. The elements of SMARTER framer are as follows; Specific Goals must be straight forward and sensible not vague. A goal must be positive and written in definitive statements that will indicate clarity. Specific goal allows the implementer to have a focused energy and attention consequently making the attainment of the goal easy. Measurable Goal must be clearly measurable by a simple performance metric so that there will be a signal after its achievement. The implementation of a goal must at any given time provide some concrete measurement metric that will allow for the assessors to know the goals progress. Achievable and accountable A goal must be realistic and attainable not a reflection of dreams and aspirations. An achievable goal must have been tested through the potential obstacles so that its attainment is assured. For a goal to be achievable there should be accountability on the part of the implementer so that clear status is received. Achievement strategies for a goal are imperative under the smarter framework of goal setting since it provides a realistic approach with regards to the feasibility of the project objective. Relevant A goal must be relevant to the problem being solved just a statement of desired results; a goal must be able to drive the attainment of a given corporate vision. Relevant goals must be with the overall project objectives or corporate strategy and hence meeting the company’s needs and aspirations. Time bound Working within no time bounds might be unrealistic but a smart goal must have deadlines which must fit in to the project timeline. Timelines in goal setting provides a concrete foundation for the goals implementation and assigns priority levels to a goal. Deadlines also provide the necessary impetus to implement a goal since it provides the sense of urgency required for a particular result. Enthusiasm Attaching emotional resonance to a goal is very essential for easy implementation. Where the goal has ignited enthusiasm on the team members then its implementation will be eased. Enthusiasm provides excitement while implementing the goals consequently imbuing the necessary motivation to the implementation team. Reward A goal must be rewarded. The implementer of a goal must feel a fulfilling urge to undertake the goal since there will be gains associated to its completion. Also rewarding a goal refers to the provision of the necessary resources that will facilitate its implementation consequently making it realizable (Kapferer, 2002). J. Boag& Son SMARTER Goals J. Boag& Son’s corporate strategy of launching its premium beer in Western Australia requires smart and strategic goals in order to ensure that the product launch is a success. Smart goals must take into consideration the strength of the company and also its weaknesses. According to McGrath (2006), product launch involves fighting for the market share, competitor’s actions and ultimately improving the profitability of the market segment. The following are some of the smarter goals for J. Boag& Son in order for the company to achieve its corporate strategy; 1. To increase the market penetration and share up to 50% in the next three years through undertaking of rigorous brand positioning as the finest premium beer in Australia. Launching of a new product usually requires development of initial perceptions that befits the expected brand position of the same product. For the case of J. Boag& Son’s premium beer, it is necessary that the penetration strategy for Australia’s finest beer is anchored on its finest quality therefore needing proper endorsement from opinion leaders and other great personalities and sportsmen of Western Australia. Attaining 50% market share requires strategic communications strategy that will enhance the products qualities of finest premium beer totally differentiated from other beers and that the product is perfect for all great people. 2. To widen the brand recognition in the market segment of the males between18-30 years in Australia by 50% in the next three years through strategic promotions targeting sports and entertainment industry where they are the majority. Brand recognition is one the assets the J. Boag& Son’s needs to invest most for it beer product especially for the middle aged people 18-30 years group since they are the most active generation and largest consumers of beer in Australia. This group still value leisure hence they must be able to associate their leisure with Australia’s finest premium beer. This requires strategic communications and brand publicity in all areas where this age group spends most of their leisure consequently including, sporting events sponsorship, concerts and other entertainment support and even billboards and promotions targeted at them. 3. To develop strategic linkages with suppliers and retailing agents for the J. Boag& Son premium beers by increasing their reward margins as a way of ensuring that beers are available and availed easily by the increasing number of agents to 10 thousand in western Australia and consequently increasing the brand equity by branding of these outlets. In order to penetrate a given market the supply chain must also be supported wholly and where all the players and contacts points to customers are happy, then as a consequence customers will feel the finest services through times availability of the product and happy dealers and retailers. Formal and informal controls The implementation of marketing strategies and goals may always results in the attainment in the unplanned results therefore indicating that there has been variation in the planned and the realized results. This variation can be attributed to; Inappropriate/ unrealistic goal or strategy Poor implementation of the strategic goals Changes in the internal and external environment Marketing manager therefore can not just prepare SMARTER goals and sit back for the results but rather implement both formal and informal controls that will ensure that the plan in undertaken in the right route and where there are detours beyond his/her control then, he should undertake some mitigation plans or controls. Formal Controls Formal marketing controls are deliberate measures undertaken by a marketing department and the entire management of an organization like J. Boag& Son so as to ensure that their marketing goals are achieved. These include input controls mechanisms, process control mechanisms, and output control and performance standards. Input controls mechanisms should be implemented before the implementation of marketing strategic goals or plan. They include; recruitment, selection and training of the relevant manpower, secondly the availing of the other relevant resources like financial and relevant machinery and equipment. Process controls mechanism are part of the form controls that are deigned to support the goal implementation in order to ensure that the implementation process is on course and will constitute deliberate management commitment, internal communication facilitation, establishment of system to evaluate and reward employees and the amount and level of authority given to the employees partaking in the implementation of the corporate strategy. Output control mechanism is deliberate measures by management to ensure that the desired results of the goal implementation are attained. It provides metrics for the comparison between the planned and the realized output. This is usually achieved through, setting of performance standards, conducting of market plan audit and comparison between the planned and actual results. Informal controls Informal controls are implied and unwritten rules that greatly influence the employees’ behavior in a team and individually (Orcullo, 2007). Some aspects of employees and generally human conduct can never be influenced through formal regulations but rather information through organization culture. It is the role of a manager to influence the direction and focus of its team members by even providing the necessary culture for the attainment of the desired results. The informal controls are; Employee self control Societal control Cultural control Employee self control will influence personal objectives of the individual team members through establishment of own personal; objectives and monitoring of their results. This will ensure that the individual roles are inline with the overall project objectives. Societal control on the other hand includes the informally agreed upon norms and ethics for the team generally accepted by all members. Cultural control is similar to societal controls but extends its boundary to outside the team. References McGrath, E 2006, Setting the PACE in product development: a guide to Product and Cycle-time Excellence, Heinemann, New York. Orcullo, N 2007, Fundamentals of Strategic Management, Rex Bookstore, Sidney Kapferer, J 2002, Strategic Brand Management: creating and Sustaining Brand Equity Long Term, Kogan Page, London. Kotler, P, Cunningham, H & Turner, R 2001, Marketing management, Pearson Education, Toronto. Walker, A 2008, Marketing strategy: a decision-focused approach, McGraw-Hill, London Read More