Professional Documents
Culture Documents
The process of management begins with setting of goals, objectives and targets. The goals are
long term aims to be achieved by the organization; objective are relatively short term milestones
organization's business. The goals, objectives and targets are so set that they are consistent
with each other and help to achieve each other. These are to be achieved within a stipulated
time and failing to achieve the same, means less of business profit and image. The difference
between these entities can be best understood by examples in the three types of organizations
Organization
modern amenities
entertainment.
TARGETS 20 per cent growth per Achieve $ 800 bed per Achieve 90 percent
everyday.
and personal goals emerge, which create conflicting environment in the organization. The goals,
leads to the attainment of goals. Careful determination of these entities is, therefore, essential
for a successful management process. The goals, objective and targets become reference
It further helps the management to identify key areas of business and key areas of management
attention. Its advantage is that it stimulates the development of people and provides motivation.
According to Peter Drucker, goals and objectives are necessary in every area where
performance and results directly and vitally affect the survival, growth and prosperity of
business.