Goal-Setting Theory
Goal-Setting Theory states that specific goals increase performance, and that difficult goals, when accepted, result in even higher performance.
People also perform better if they receive feedback during or after achieving their goals. Self-generated feedback - when an employee monitors his or her own progress - has been shown to be a more powerful motivator than feedback coming from someone else.
Besides feedback, goal-setting is also made up of goal commitment, adequate self-efficacy, and national culture.
Self-efficacy is also a component of goal-setting. Self-efficacy is defined as an individual's belief that he or she is capable of performing a task.
A real-world example of how goal setting works in a company, is seen in the mission statement of the Walt Disney Company:
"The mission of The Walt Disney Company is to be one of the world's leading producers and providers of entertainment and information. Using our portfolio of brands to differentiate our content, services and consumer products, we seek to develop the most creative, innovative and profitable entertainment experiences and related products in the world."
By reading this mission statement, the company can keep on track to what it's mission, or goals are, moving forward with all of their products and entertainment parks. They can refer back to this as needed to show what their goals should be focused around, and guide them into the right direction. It also keeps them from doing things they should not be doing or wasting time thinking about, so they can use their time productively to meet company standards.
References:
Robbins, S. P. (2014). Management. Upper Saddle River: Pearson.
Walt Disney Company's Mission Statement and Vision: Formula for success. (n.d.). HubPages. Retrieved May 3, 2014, from http://simondixie.hubpages.com/hub/Walt-Disney-Companys-Mission-Statement-and-Vision-A-formula-for-success
People also perform better if they receive feedback during or after achieving their goals. Self-generated feedback - when an employee monitors his or her own progress - has been shown to be a more powerful motivator than feedback coming from someone else.
Besides feedback, goal-setting is also made up of goal commitment, adequate self-efficacy, and national culture.
Self-efficacy is also a component of goal-setting. Self-efficacy is defined as an individual's belief that he or she is capable of performing a task.
A real-world example of how goal setting works in a company, is seen in the mission statement of the Walt Disney Company:
"The mission of The Walt Disney Company is to be one of the world's leading producers and providers of entertainment and information. Using our portfolio of brands to differentiate our content, services and consumer products, we seek to develop the most creative, innovative and profitable entertainment experiences and related products in the world."
By reading this mission statement, the company can keep on track to what it's mission, or goals are, moving forward with all of their products and entertainment parks. They can refer back to this as needed to show what their goals should be focused around, and guide them into the right direction. It also keeps them from doing things they should not be doing or wasting time thinking about, so they can use their time productively to meet company standards.
References:
Robbins, S. P. (2014). Management. Upper Saddle River: Pearson.
Walt Disney Company's Mission Statement and Vision: Formula for success. (n.d.). HubPages. Retrieved May 3, 2014, from http://simondixie.hubpages.com/hub/Walt-Disney-Companys-Mission-Statement-and-Vision-A-formula-for-success