Research Paper on Goal-Setting Framework

Introduction

The goal-setting framework consists of key results and objectives that assist an association to explain its objectives and goals so that it can achieve them. The framework was created so as to help associations to make goals that are far-reaching in terms of days and not months. Management is the procedure in which an organization deals with people or control things. Six steps that assist in performance management are, being committed from the very first moment, having clear objectives, having feedback that is always balanced, conducting steady progressive assessments, planning about development and hiring skillful managers that are capable of leading the organization in achieving its goals. (Daft, & Marcic, 2016).

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The rising cost of papers has greatly affected the company and if the problem is not tackled, we might lead the company to collapse. The people of Los Angeles are greatly depending on the news that is published by the newspapers and if the company fails the people will not be able to get news as they did before. The strategic plan that I have decided to apply is to use some of the funds that we had saved to buy lands so that we can plant our trees that are used for papermaking. This will help to save the company from the future crisis of the paper rising costs. This will also create employment for more people in the community and hence we will be able to improve the economy of Los Angeles and also reduce the unemployment rates. We have planned to hire skillful employees to work on the sector of cutting the papers before they are published so that they cut them the right way so as not to misuse them. (Pattabhiramaiah, Sriram, & Sridhar, 2017).

I have also created a partnership jointly with the paper manufacturing company so that they can give us discounts when we buy the papers at a wholesale price. In order to increase profits for the company, we have decided to increase the cost of newspapers by 1.3 percent of its original cost. This will help the company to recover the losses that it has incurred for the past years that have passed. The company's goal is to have increased its sales with a large percentage by the end of the year. As the present Chief Executive Officer, I have employed a skilled and experienced manager who will help the company to achieve its goals by managing it the right and required way. We are also hiring qualified journalists who have the skills to find captivating news so as to provide them to the editors who are also qualified and they make interesting headlines that will capture the readers' attention so that they can have the curiosity in reading the newspaper. Giving positive feedback to the workers will also motivate them to work harder and this will help the company to achieve its goals and objectives early. By providing the workers with a little overtime fee will motivate them to work even harder so that they can be able to put more effort when they are doing their work.

The rising of distribution cost is another factor that is contributing to the falling of the company. Due to the rise of the economy in Los Angeles, the transport system has become expensive and this is making the distribution of the newspapers countrywide to become more difficult. Due to poor roads, the distribution becomes difficult because the company does not have the off-road that is able to travel during the rainy seasons. I as the C.E.O, I will introduce a non-governmental organization that will present the needs of the people to the government of Los Angeles so that they can attend to our grievances. I have also organized a meeting with the leaders of the state so that I can explain to them the challenges that we are going through when we are distributing the newspapers to the citizens of Los Angeles due to the bad roads. To reduce the distribution cost, we have hired people all over the town of Los Angeles so that they can easily distribute the newspapers we have published easily. (Morrison, Ross, Morrison, & Kalman 2019).

Since the consumers are aged above 40 years and above. As the people tend to grow older, they develop poor eyesight and thus reading the newspapers to will become hard to them. To deal with this problem, I instructed the editors to print the newspapers with a larger font so that the customers can be able to read them clearly without struggling. Since most of the youths are not interested in reading the newspapers, we have taken our business online so with more interesting stories about the entertainment news about the celebrities so that we can capture the attention of the reader. We are targeting by the next year to have started our own website so that the young generation can access it whenever they want because they have access to social media all the time.

References

Singer, J. B. (1997). Changes and Consistencies Newspaper Journalists Contemplate Online Future. Newspaper Research Journal, 18(1-2), 2-18.

Morrison, G. R., Ross, S. J., Morrison, J. R., & Kalman, H. K. (2019). Designing effective instruction. Wiley.

Daft, R. L., & Marcic, D. (2016). Understanding management. Nelson Education.

Pattabhiramaiah, A., Sriram, S., & Sridhar, S. (2017). Rising prices under declining preferences: the case of the US print newspaper industry. Marketing Science, 37(1), 97-122.