1. Performance Metrics That Matter: Aligning Goals with Organizational Objectives

In today's fast-paced business environment, organizations are relentlessly obtaining ways to increase performance and achieve strategic objectives. One powerful tool in this effort is Performance Management, which involves setting clear goals, determining progress, and preparing feedback to employees.

Marketing planning is to try to create long-term competitive advantage to ensure that the business goes though time frame in a way that out-compete their competitors. Marketing planning is the identification and allocation of the resources to accomplish marketing goals and objectives that set for organization. Therefore, having set the primary concerns or objectives what the organization targeting at, then it’s necessary to identify the required resources and try and allocate those resources to achieving the objectives.

Figure 1

Many people often confuse marketing with advertising and while it is true that marketing and advertising have similarities. In other words, advertising is like a subcategory of marketing. Organizations across the globe highly believe that nowadays users are tired of this type of messaging, and it is very important to focus more on understanding the users, their needs or motivations and communicate to them about how the company’s services can solve their problems and always emphasize the value they bring. In terms of marketing, organization have to define their marketing plan because, without a marketing plan, they will not be able to achieve the goals that set for the company or brand.

Marketing Goals act as strategies or aims of marketing activities. Marketing Goals are broader and address what the company wants to achieve, and it help to effectively plan, structure, and execute its marketing campaigns. In an organization, goals and objectives are the pillars that guide all of their actions and strategies. As an organization, if they don’t set any objectives, they don’t know what direction they should go in, or how to do it. But sometimes an organization needs a little inspiration to come up with its own goals. 

Marketing goals are long-term, expensive, and are often inspired by the mission and purposes of a company. Marketing objectives are the actions an organization and the organization’s marketing team take to fulfill their marketing goals and marketing objectives are more specific in scope and should be measurable, either using digits or time frames, or sometimes both.

Figure 2

Regardless of whether it is professional or personal as a human being, we all fight sometimes to achieve our goals/targets. Many times, our struggle is not because of a lack of effort but rather how our targets have been structured. Therefore, Marketing objectives need to be SMART. Which means they should be "Specific, Measurable, Achievable, Relevant and Time-bound". 

The very first acronym of SMART is SPECIFIC. This is considered the most important part of creating or evaluating the goal. The less specific a goal the more tough is to control how long the goal should take to complete or how to measure success. 

For example, many organizations nowadays protect labor rights and encourage safe and secure working environments for all employees, including migrant workers, in particular women migrants, and those in precarious employment. This is a very specific goal to achieve a decent work environment.

MEASURABLE means in the SMART framework is how the organization measures the goal and what determines the success. In an organization some goals may be best measured by yes or no, such as during the COVID pandemic it’s compulsory to change the work to remote mode due to travel being banned and to keep employees safe. However, some other goals are better measured by using metrics such as expanding education, awareness-raising, and human and official capacity on climate change moderation, variation, influence reduction, and early warning. The key to measurements is to ensure that the goal precisely reflects success. 

ACHIEVABLE means well-designed goals deliver clarity of action. If the actions required to accomplish a goal are undecided or there are a large number of actions that need to be taken, the organization should consider breaking down the major goal into manageable, actionable sub-goals. Nowadays, companies globally decided to significantly reduce corruption and bribery in all their forms. To achieve the target goal they've taken actions which are lead business in a principled and honest manner by their company's code of Ethics and Vision and Values by conducting antitrust, anti-bribery, and corruption seminars for employees regularly and communicating with suppliers on moral subjects. 

RELEVANT, Single goals are relevant but in the organization, we often try to pursue multiple goals. However, too many goals at the same time may lead to problems if an organization is not structured properly. Therefore, pursuing many goals needs a well-structured mechanism to monitor the target goal to ensure that an organization pursues the most relevant goals at any given time. 

TIME-BOUND, The last thing an organization wants to ensure is that goals are time-bound. By structuring a proper time frame for which goals should be achieved, helps provide incentives and allows the organization to monitor progress. For Example, globally organizations' response in adapting to the new professional environment due to COVID-19 has promoted a grouping of their pre-existing strategies, such as cyber management and the ongoing digital revolution of the organizations. 

Therefore, it’s important that the organization has a very clear vision of their goals, it should set out realistic objectives, and then allocate resources to achieve those objectives. Objectives them self should identify that the environment in which the organization is operating is changing. However, to truly lead to accomplishment, it is crucial to align individualistic performance metrics with comprehensive organizational goals and strategies. Aligning individual performance metrics with organizational objectives is like steering a vessel toward a conventional destination. Without clear alignment, each department or team may be rowing in different directions, leading to inefficiency and missed opportunities.

REFERENCES:

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Kristelmtp, 2019. Performance Management. [Online] Available at:https://www.coursehero.com/file/62650072/PERFORMANCE-MANAGEMENTdocx/

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James Corbett, J. W., 2008. The Impacts of Globalisation on International Maritime Transport Activity past Trends and Future Perspectives, s.l.: s.n.