How Do Companies Set Goals

The video tutorial discusses the importance of an organization's mission, vision, and value statements as guiding principles. It explains how goals are set at the top level and filter down through the organization, with each level setting goals to support the overall objectives. The concept of 'means and chain' is introduced, illustrating how lower-level goals contribute to higher-level achievements. Finally, the video highlights the difference between assigned and collaboratively set goals, emphasizing the role of managers in working with subordinates to define objectives.

What are the guiding documents that help set the overall goals of an organization?

• Marketing strategies

• Financial reports

• Employee handbooks

• Mission, vision, and value statements

Who typically sets the initial goals for an organization?

• Middle managers

• Vice presidents

• The president

• Individual contributors

What is the 'means and chain' concept in organizational goal-setting?

• A method of assigning tasks to employees

• A process where lower-level goals support higher-level goals

• A strategy for financial planning

• A way to evaluate employee performance

How can goals be set within an organization?

• By external consultants

• Either assigned or collaboratively set

• Through a voting process

• Only by top management

What role do managers play in the goal-setting process?

• They ignore the goal-setting process

• They work with subordinates to define goals

• They set goals without any input

• They only assign goals