OL 501 Module Five Short Paper Guidelines And Rubric Prompt

Ol 501 Module Five Short Paper Guidelines And Rubric Prompt Manage

Management functions include setting and measuring goals for a company, determining which elements are key to a particular situation, and leading/motivating the company to meet those goals. This paper will focus on setting goals for your chosen company and measuring those goals. Review the resources in this module for additional help on elements of this assignment. Specifically, the following critical elements must be addressed:

• Based on the TOWS analysis performed on your chosen company, set two goals for your chosen organization to pursue.
• Suggest at least one metric per goal that managers could use to measure how well the company is meeting each goal.

Metrics need to be objective and meet the SMART criteria: Specific, Measurable, Actionable, Relevant, and Timely. See Start SMART Goal Setting for more information on setting SMART goals.

This short paper must be 2–3 pages in length (plus a cover page and references) and must be written in APA format. Use double spacing, 12-point Times New Roman font, and one-inch margins. All references must be cited in APA format.

Paper For Above instruction

Introduction

Effective management within organizations hinges on the capacity to establish clear goals aligned with strategic analysis and to measure progress toward achieving these goals. Using a TOWS (Threats, Opportunities, Weaknesses, Strengths) analysis provides valuable insights into internal and external factors affecting an organization, enabling the formulation of targeted, actionable objectives. This paper utilizes a hypothetical company, "EcoTech Solutions," an environmentally focused technology firm, to demonstrate how to SET two strategic goals derived from TOWS analysis and recommend appropriate metrics to evaluate progress toward each goal.

Derivation of Goals Based on TOWS Analysis

EcoTech Solutions has identified several internal strengths, such as innovative R&D capabilities and a committed sustainability team, alongside weaknesses, including limited market penetration and resource constraints. External opportunities such as increasing demand for green technologies and supportive government policies, juxtaposed with external threats like competitive pressures and regulatory hurdles, form the basis of the TOWS analysis. Based on these assessments, two key goals were formulated.

Goal 1: Increase Market Share in Sustainable Tech Sector

This goal leverages the company's strengths in R&D to expand its market share within the growing green technology sector. Enhancing market penetration aligns with opportunities identified through the TOWS analysis, such as rising consumer demand for eco-friendly products and favorable policy incentives.

The goal is specific to market expansion and relevant to the company's strategic position. It is actionable by targeting specific customer segments, measurable through quantifiable outcomes, timely within a defined period, such as one year, and aligns with long-term corporate sustainability objectives.

Goal 2: Improve Production Efficiency to Reduce Costs by 15%

This operational goal aims to address internal weaknesses related to resource constraints and cost management. By optimizing production processes, EcoTech Solutions can reduce costs, thus increasing competitiveness and profitability.

This goal is specific to efficiency improvement, measurable via reduction in production costs, actionable through process improvements and technological upgrades, relevant given current resource limitations, and timely with a target reduction within six months to one year.

Metrics to Measure Progress

Metric 1 for Goal 1

The company could track "Market Penetration Rate," defined as the percentage increase in sales or clients within the targeted sustainable technology segment over a specific period. For example, meeting or exceeding a 20% growth rate within 12 months indicates successful market expansion.

Metric 2 for Goal 2

Operational efficiency can be measured through "Cost Reduction Percentage," calculated by comparing ongoing production costs to baseline costs. Achieving a 15% reduction within the targeted period demonstrates effective process improvements.

Conclusion

Implementing well-defined, SMART objectives based on strategic analysis such as TOWS enables organizations like EcoTech Solutions to target crucial areas for growth and efficiency. Selecting appropriate metrics provides clear benchmarks for success, fosters accountability, and supports data-driven decision-making. Organizations must regularly evaluate these metrics to adapt strategies and ensure continuous progress toward their overarching goals, ultimately sustaining competitive advantage and long-term success.

References

• Kliebard, H. (1970). The Tyler Rationale. The School Review, 78(2), 178-193.
• Costa, A. L., & Loveall, R. A. (2002). The Legacy of Hilda Taba. Journal of Curriculum & Supervision, 18(1), 56-62.
• Start SMART Goal Setting. (n.d.). Retrieved from [insert credible URL]
• Gordon, A. (2013). Strategic Management: Concepts and Cases. Pearson.
• Kaplan, R. S., & Norton, D. P. (1996). The Balanced Scorecard. Harvard Business Review, 74(1), 71-79.
• Bryson, J. M. (2018). Strategic Planning for Public and Nonprofit Organizations. Jossey-Bass.
• Porter, M. E. (1985). Competitive Advantage. Free Press.
• Thompson, A. A., & Strickland, A. J. (2018). Strategic Management: Concepts and Cases. McGraw-Hill Education.
• Roberts, J. A., & Escalas, J. E. (2019). Values and Goals in Consumer Decision-Making. Journal of Business Research, 98, 340-352.
• Kaplan, R. S., & Norton, D. P. (2001). The Strategy-Focused Organization. Harvard Business School Press.