Goals of a business plan

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A goal is an idea of the future or desired result that a person or a group of people envisions, plans and commits to achieve. People endeavor to reach goals within a finite time by setting deadlines. Goal-setting theory was formulated based on empirical research and has been called one of the most important theories in organizational psychology. A positive relationship between goals and performance depends on several factors. First, the goal must be considered important and the individual must be committed. Participative goal setting can help increase performance, but participation itself does not directly improve performance. Goals can be long-term, intermediate, or short-term.

The primary difference is the time required to achieve them. Short-term goals expect accomplishment in a short period of time, such as trying to get a bill paid in the next few days. The definition of a short-term goal need not relate to any specific length of time. Before an individual can set out to achieve a goal, they must first decide on what their desired end-state will be. Peter Gollwitzer’s mindset theory of action phases proposes that there are two phases in which an individual must go through if they wish to achieve a goal. This section needs additional citations for verification. Certain characteristics of a goal help define the goal and determine an individual’s motivation to achieve that goal.