Business Goals in biz world.

From the beginning the business owner should work to create clearly defined goals for his or her business plan. These goals begin at the top of the business and work their way down. Some are longer range-twelve-month goals. Other sub goals needed to reach the larger targets are intermediate range-say six months. Some are just three months out or even less. These are usually extremely important things that must happen before work can proceed on the next step of a larger goal.
Businesses are formed to achieve something. For a business to remain in operation, it must have a goal. Goals are results to be achieved. Goals are also called objectives or ends.
There are two questions we ask when establishing business goals:
a) Where do we want to go in terms of products, customers, profits, return on investment?b) What changes do we have to make in each department to get us there?
Have you ever seen people give up before they start because? That's something we don't want to have happen here. Recognize that there may be too large a gap between the goals you come up with and the firm's current position. There may come a time when you say, there’s no way we can accomplish all that this year.
All objectives should be SMART i.e. Specific, Measurable, Achievable, Realistic, and Timed as explained below:• Specific - Be precise about what you are going to achieve• Measurable - Quantify your objectives• Achievable - Are you attempting too much?• Realistic - Do you have the resource to make the objective happen (men, money, machines, materials, and minutes)?• Timed - State when you will achieve the objective (within a month? By February 2010?)Example of goals• Start the business worth UGX 1,000,0000/= by November 2008• Finish construction of the poultry house which can house 200 birds by August 2008• Stock 200 birds (layers) by December 2008• Reduce production costs by 500,000 every year.
Importance of goals in business
• Goals focus the efforts of individuals in the business.o For exampleo “You cannot hit a target you can’t see!”o “If you do not know where you are going, you will never know when you get there”• Goals help in planning. We plan to achieve something.• Goals encourage people to work• Goals assist in watching and checking performance of workers and the entire business
Questions to Answer
• Are the goals which you have put to your introduction clear and unambiguous to you and to the outside reader?
• Do you understand them clearly?• Will you be able to say when you have achieved them or are they are vague and indeterminate?• Do you know by when you aim to achieve them?