Goal Setting Framework: The First Of Six Steps Of Performanc

Question

Goal Setting Frameworkthe First Of Six Steps Of Performance Management Assume that you work for the Los Angeles Tribune, a large but struggling newspaper publisher with distribution throughout the Los Angeles region. Various problems have arisen that need to be addressed: The cost of paper is rising, the cost of distribution is rising, circulation revenue is down, advertising revenue is down, largely due to free online listings offered by Craigslist and other online advertising services, customers are largely in the 40+ age range, and the current number of employees cannot continue to be supported if revenue continues to shrink. You have been selected by the CEO to construct a goal-setting framework that focuses on three of the six issues above. In your APA formatted two- to three-page paper, include a goal statement for each of the three issues you’ve chosen and describe the corresponding strategies, tactics, activities, measures of success, and goal measurements you recommend. Support each with your rationale, citing the textbook as necessary, and be sure to provide specific examples within the activities section. In addition to your two to three pages of written content, a title page and reference page are required. For this assignment, it is possible to make reasonable assumptions regarding the organization’s economic situation and business climate. Be sure to specifically mention any such assumptions that you are making within your paper. Carefully review the Grading Rubric for the criteria that will be used.

Dr. Jack HW Helper · Accepted Answer

The Los Angeles Tribune faces multiple challenges threatening its sustainability, including rising costs and declining revenues. To address these issues effectively, a strategic goal-setting framework focusing on key problem areas must be established. This paper formulates three targeted goals, along with strategies and measures, to steer the organization toward stability and growth. 1. Goal to Reduce Operating Costs The first priority is to mitigate the rising costs of paper and distribution. The goal is: "Reduce overall printing and distribution costs by 15% within 12 months through operational efficiencies and strategic vendor negotiations." Strategies to achieve this include renegotiating contracts with paper suppliers to secure lower prices based on bulk purchasing, and exploring alternative, cost-effective distribution models, such as joint ventures with other regional newspapers or private logistics providers. Activities could involve conducting a comprehensive procurement review to identify potential vendors offering better rates, transitioning to digital delivery for certain editions to reduce print volume, and implementing route optimization software for distribution efficiency. Measures of success should include percentage reduction in material and distribution costs, vendor contract renegotiation outcomes, and operational KPIs such as delivery timeliness. Regular financial audits and monthly cost tracking will serve as goal measurements, ensuring that the cost-saving initiatives stay on track and are adjusted as necessary. 2. Goal to Diversify Revenue Streams The second goal addresses declining circulation and advertising revenue: "Expand revenue streams by launching digital subscription services and premium online content within 18 months, aiming for a 25% increase in total revenue." Strategies involve developing exclusive digital content, such as investigative reports or local event coverage accessible through a subscription model. Activities include i

Goal Setting Framework: The First Of Six Steps Of Performanc

Goal Setting Frameworkthe First Of Six Steps Of Performance Management

Paper For Above instruction

1. Goal to Reduce Operating Costs

2. Goal to Diversify Revenue Streams

3. Goal to Enhance Customer Engagement

Conclusion

References