Explain how goal-setting relates across different levels of an organization. What characteristics do effective goals possess?
What will be an ideal response?
Corporate-level managers set goals for individual divisions, which in turn set goals for each function. Functional managers then set goals for individual workers. Goals at each level must harmonize with other levels. It is important that goals are set appropriately to motivate success. If goals are set at an impossibly high level, managers might work only halfheartedly to achieve them because they are certain they will fail. In contrast, if goals are set so low that they are too easy to achieve, managers will not be motivated to use all their resources as efficiently and effectively as possible. The best goals are specific, difficult goals-goals that challenge and stretch managers' ability but are not out of reach and do not require an impossibly high expenditure of managerial time and energy. Such goals are often called stretch goals.
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Which of the following is the best synonym for bona fide?
A) well done B) good faith C) unusual exception D) true value E) bad faith
Which of the following is NOT a reason that employees may want to unionize based on economic needs?
A. Promotions, transfers, and shift assignments are handled in an unfair or biased manner. B. Union employees on average make more than nonunion employees. C. A larger percentage of union workers have health coverage as compared to nonunion workers. D. Union workers are more likely to have guaranteed pensions than nonunion workers.
Conflicts between two mutually exclusive projects occasionally occur, where the NPV method ranks one project higher but the IRR method puts the other one first. In theory, such conflicts should be resolved in favor of the project with the higher IRR.
Answer the following statement true (T) or false (F)
Master Craft Control Inc. has bonds that mature in 6 1/2 years with a par value of $1,000. They pay
a coupon rate of 9% with semiannual payments. If the required rate of return on these bonds is 11% what is the bond's value? A) $1,022.74 B) $908.83 C) $1,026.73 D) $973.76