Goal Setting Framework: The First Of Six Steps Of Per 823803

Goal Setting Frameworkthe First Of Six Steps Of Performance Management

The first of six steps of performance management consists of goal setting, as detailed in Chapter Three. 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-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 a 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.

Paper For Above instruction

The Los Angeles Tribune faces multiple critical challenges that threaten its sustainability and growth. To address these issues, a strategic goal-setting framework must be developed, focusing on cost management, revenue diversification, and customer engagement. This paper proposes specific goals, strategies, activities, and measures for each chosen area, applying principles of effective goal setting as outlined by Locke and Latham (2002). Such an approach emphasizes goal specificity, challenge, and alignment with organizational resources, which are vital to motivating staff and stakeholders toward desired outcomes.

1. Cost Management: Reducing Rising Paper and Distribution Costs

Goal Statement: Reduce paper and distribution costs by 15% within twelve months through optimized resource usage and process efficiencies.

Strategies: Implement procurement negotiations for bulk purchasing, introduce environmentally friendly printing practices, and streamline distribution routes to reduce fuel and labor costs.

Tactics and Activities: Form a dedicated team to renegotiate supplier contracts, evaluate alternative sustainable materials like recycled paper, and employ routing software for distribution optimization. For example, consolidating delivery routes to reduce mileage or switching to digital invoicing and logistics management can decrease delays and expenses.

Measures of Success: Cost savings percentage, reduction in paper and fuel expenses, employee adherence to new logistics practices, and supplier contract improvements.

Goal Measurements: Monthly financial reports comparing current costs to baseline, tracking of procurement savings, and operational audits reviewing route efficiency.

This approach aligns with goal-setting principles by setting clear, measurable, and challenging objectives that motivate operational improvements (Locke & Latham, 2002).

2. Revenue Diversification: Enhancing Digital Revenue Streams

Goal Statement: Increase digital advertising revenue by 30% within one year through targeted online advertising strategies and content offerings.

Strategies: Develop specialized digital ad packages appealing to local businesses, expand online content with multimedia features, and leverage analytics for targeted marketing campaigns.

Tactics and Activities: Conduct market research to identify client needs, create tiered advertising packages with metrics that demonstrate ROI, and introduce webinars, podcasts, or video content to attract online visitors. For instance, offering local restaurants sponsored content or event promotions with tracking metrics can add value to advertisers.

Measures of Success: Revenue data from digital ads, customer acquisition rates, client retention, and engagement metrics such as click-through rates and time-on-site.

Goal Measurements: Monthly revenue reports, client feedback surveys, and tracking of new clients gained through targeted campaigns provide measurable outcomes demonstrating progress toward diversification objectives.

Initiating this goal facilitates growth in digital revenue, vital as traditional circulation declines, aligning with Locke and Latham’s (2002) emphasis on challenging yet attainable goals.

3. Customer Engagement: Broadening the Customer Age Range

Goal Statement: Expand the customer base to include an improved demographic distribution, increasing readership among underrepresented age groups (e.g., 20-40) by 20% over 18 months.

Strategies: Develop a multichannel outreach campaign, including social media, mobile apps, and community events, to connect with younger audiences while maintaining traditional print readership.

Tactics and Activities: Launch targeted social media marketing campaigns with platform-specific content, develop a user-friendly mobile app offering news summaries and interactive features, and organize community events or partnerships with local organizations. For example, creating a youth-focused newsletter or hosting student journalism contests can attract younger readers.

Measures of Success: Shift in readership metrics, social media engagement, app downloads, and participation in community events.

Goal Measurements: Analyze analytics reports from social media and app platforms, survey data tracking readership demographics, and event attendance records to evaluate progress toward engagement goals.

Adopting this goal opens pathways to diversify the customer base, addressing revenue decline risks and fostering brand loyalty among younger consumers (Locke & Latham, 2002).

Conclusion

Addressing these three areas through targeted goal-setting strategies, aligned with the principles of SMART goals and motivation theory, provides a structured path toward improving the Los Angeles Tribune’s performance. Clear objectives, strategic activities, and measurable outcomes will motivate stakeholders and guide the organization toward financial stability and growth amid challenging economic conditions.

References

• Locke, E. A., & Latham, G. P. (2002). Building a practically useful theory of goal setting and task motivation: A 35-year odyssey. American Psychologist, 57(9), 705–717.
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