MGT 386 Section 11 Goal Setting Theory

8/6/2019 MGT 386 Section 11 Goal Setting Theory

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Section 11- Goal Setting Theory


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Why Should You Use Goal Setting?Why Should You Use Goal Setting?


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What is a Goal Anyway?y According to Merriam-Webster a goal is: the end

toward which effort is directed. Goals are dreams and

wants except a goal is more spe

cifi

c.


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The Purpose of Goalsy The purpose of goals is to give you something that you

want to enhance your life in some way, so the most

important thing you need to know about goals is thatyou ought to have some.


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"TIME IS LIFE.

TO WASTE YOUR TIME IS TO

WASTE YOUR LIFE;

TO MANAGE YOUR TIME IS TO

MANAGE YOUR LIFE."

-- ALAN LAKEIN


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How to Set Goalsy Learning how to set goals is as important as knowing

what the goal should contain. Whats important to

remember about setting goals is thecorre

ct F.R.

A.M.E.of mind. What is meant by frame of mind? Each

letter in the word frame illustrates the following:


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F.R.A.M.E

y Fantasize - Dream your wildest dreams and make sure that yourgoals match your values. Ask yourself: what do you want to bedoing in 1 year? 5 years? What kind of person do I want to be?

y Reality- Fantasies can become reality, depending on how hard

you are willing to work for them.

y Aim - Define your goal(s) by striking a balance between Fantasyand Reality; set a high but realistic goal.

y

Method

Be truthful to yourself by narrowing your

choi

ces orgoals to the ones you really intend to accomplish. Dont be afraid

to ask for help.

y Evaluation - Process the results, but dont make it the last step;evaluation should be on going.


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y Goal setting works!!!!!!

y Have you ever sat down on a Sunday evening infront of a pile work and asked yourself "Whathappened to the weekend?"

y When done properly, goal setting helps you dothose day to day activities that you know youshould do to be successful but don't always getdone.

y

More generally, goal setting helps you to identifywhat you want to accomplish and find a way to doit.


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5 Qualities ofEffective Goals

S.M.A.R.T.

y Before you begin your goal setting process it isimportant to know what qualities your goals should

embody. Effective goals have three important qualities.They are realistic, measurable, and reviewed.


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SPECIFICy The Goal should be SPECIFIC enough so that we

know exactly for what we are striving.


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MEASURABLEy Agoal must be MEASURABLE. It should haveconcrete facts. You should be able to answer very

specifi

cally, when and how you will know you attainedyour goal.


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ACTIONORIENTEDy ACTION-ORIENTED,declaring positive activity that

will produce results.


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REALISTICy Agoal must be REALISTIC.Challenging yourself is an

important part of goal setting. You want to aim high;

however, you also need to be realistic.


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TANGIBLEy TANGIBLE meaning concrete and not vague.


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Also dont forget

Goals must also be


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REVIEWED

y Finally, a goal must be REVIEWED.

y Share your goals with friends and family members who care

about your success. Pick one of these persons who will hold you

accountable in addition to yourself. In the meantime, remind

yourself regularly of the goals you have set for yourself.

y You can write your goals in your calendar, on a mirror, or a desk-

wherever you will see them often. Check your progress regularly.

y Ask your friend or family member to check on your progress.

They might even offer you some additional incentive for

accomplishing your goal!


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Steps Toward Setting Effective Goalsy " THE ESTABLISHMENT OF A CLEAR AND

CENTRAL PURPOSE OR GOAL IN LIFE IS THE

STARTING POINT OF ALL SUCCESS. BRIAN TRACY


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1. Set Goalsy Identify what is important to you. What do you want to

accomplish?


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2.Identify possible strategies or objectives

to reach each goal.

y Make a list of what you feel are the best and most

effective ways of reaching the goals you have already

identified.


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3. Select the best strategiesy Now that you have made a list of several ways to

achieve your goal, recognize which of these strategies

will work best for you.


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4.Outline specific plans to accomplish

each strategy.

y Once you have narrowed down your strategy list, youcan begin to make very detailed and specific plans toaccomplish each strategy and ultimately reach your

goal.y Once we have a well-formed Goal Statement we need

some direction to follow to achieve this Goal.


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y "AN UNWRITTEN WANT IS A WISH, A DREAM, A

NEVER HAPPEN. THE DAY YOU PUT YOUR GOAL

IN WRITING IS THE DAY IT BECOMES A

COMMITMENT THAT WILL CHANGE YOUR LIFE.

ARE YOU READY?" - TOM HOPKINS


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y Setting goals is a means of identifying and plotting

how you are going to achieve your aims in life. By

writing down your goals you are committing yourself

to accomplishing them; therefore, make sure that your

goals are important toYOU

!!!!!


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ExerciseOne: The Million Pounds

Giveaway

y If I was given a 1 million Rs. today but I have to spendit immediately. I would buy the following ten things.

Take out a piec

e of paper and list them. Remember,you must spend it and buy stuff with it. You can'tinvest it in stocks or put it in the bank. List ten thingsthat you truly want.


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xerc se wo: ong os r en

yYou come across a good old friend today. You lose

contact with this friend and haven't seen him for three

years. Both you are delighted to see each other again.

He says:" I havent seen you for three years! How are

you doing recently?" You answer his questions:


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y I live in (town, city, village ):

The car that I drive is:

I am making a living by (job title/job role):

I am earning (Rs. per year):

My hobbies and interests are:

I have given up/I have taken up:

Since Ive last seen you a new skill that I have acquired

is:

My partner is:

Other:


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Exercise Three Charity Giveaway:

y If I had Rs. 1 Million to give to a single charity I would

give it to:

Write it on the paper.


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Exercise Four: The last time I felt was

y The last time that I felt success was:

The last time that I did something that I really didnt

want to do, but did it anyway, was:

The last time I felt truly happy was:

The last time I felt truly at peace was:

The last time I felt really proud of myself was:The last new skill that I developed was:

The last time that I felt totally focused was:


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Exercise Five I am financially free

yYou have won the lottery and acquired millions and

millions of rupees. You don't have to worry about bills

coming, loan repayments or other payments. Picture

this incredible wealth. Now, what are you going to do?

How are you going to fill each day?


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Leaders are Readersy The 7 Habits of Highly Effective People Stephen R

Covey (2004)

y

#2B

egin with the End in Mindy The HP Way, David Packard (2005)

y We thought if we could get everyone to agree on whatour objectives were and to understand what we were

trying to so, then wec

ould turn them loose and theywould move in a common direction.

y This is Goal Setting


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MGT 386 Section 11 Goal Setting Theory