Peter Drucker, author of Management by Objectives, developed his popular theory about the role of goals and objectives in the management of corporate America in a time of stable economies and steady growth. However, the fast-paced global marketplace of today is drastically different. Information is required to be available at lightning speeds, and businesses must learn to manage goals and objectives in real-time.
Align Company Goals With Objectives
Volatile and changing times requires regularly monitored and altered goals and objectives throughout the business year. By managing goals and objectives in real-time, management is given the opportunity to change goals and priorities immediately to stay aligned with company objectives.
Get A Visual Map
Having a visual map of your goals and objectives increases focus, motivation and productivity. Real-time systems contain maps that supply a centralized picture of where a firm stands at any point in time in the goal-setting process. Maps play a key role in driving outcomes by giving users a chance to study how tasks are progressing, and what needs changing to point the firm on the productive path.
Align Employees With Company Goals To Increase Productivity
To achieve optimum productivity, employee goals and objectives must be aligned with company goals. In this vein, every employee must have specific goals that help the firm work towards its desired outcome. Real-time systems will highlight which employees are productively working towards company goals and which ones are not working up to potential. With this, management can then make changes to correct any employees that are off course.
Managing and tracking goals and objectives in real-time increases focus. Since information is continuously changing during real-time feedback, it gives management a chance to immediately focus in on what is working and what is not.
One crucial way to increase focus is using lists as a visual representation of tasks. It’s important to keep track of tasks, as they are crucial for driving outcomes. According to Peter Drucker, task management and task study are central to any goals and objectives process. Real-time systems allow us to analyze the work, tasks and steps needed to achieve desired outcomes. After analyzing data, management can decide what course of action is required.
Real-time systems also provide us with an updated “to do” task list that helps decision makers concentrate on exactly what needs to be done to better manage the goal and objectives process.
Develop Time Optimization
As any effective manager understands, time is money. By managing objectives in real-time, time optimization skills will be enhanced. Less time is spent on useless activities and on distractions. With proper time optimization, employees can increase their overall focus, organization, productivity and motivation.
Change Nonproductive Goals
Real-time systems allow management the opportunity to set, change and re-prioritize goals as soon as inefficient ones are noted. This in turn also allows management the opportunity to quickly change company goals to better reflect and align itself with the goals of management.
Real-time systems , like those offered by Objectiveli, offer so many benefits for managing goals and objectives, firms will flounder and fall behind the competition unless effective ones are implemented. Objectiveli concentrates on driving outcomes by using a simple and intuitive interface that shows users how to replace traditional tools, such as emails, post-its and spreadsheets with empowering applications that fulfill goals, aspirations and visions.
Source: Toward the Next Economics and Other Essays – 1981 Peter Drucker