A Prosperous Business Entrepreneur Needs To Understand The Significance Of Goal Setting Techniques


Probably the most popular proponents of the goal setting philosophy are philosophers E. A. Locke and G. Latham. Their philosophy suggests that goal setting is innate among human beings and that determining and mapping out methods to reach them are some of the most natural factors of human conduct.

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As an entrepreneur and small business management; it is necessary for you to know that goal setting is rooted on 4 fundamental ideas:

1. People logically set task-related goals.

2. People are the ones that determine how much time and effort are afforded into reaching these goals.

3. Goals, to succeed, must be precise, accepted, and attainable.

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4. It is advisable to list feedback on performance.

The goal setting theory considers all of the above and makes the following general claims:

1. Goal setting affects behavior patterns.

2. Challenging goals result in higher performance levels.

3. Determination originates from lessons from a previous goal.

4. Goal clarity impacts performance.

5. Goal difficulty is directly proportional to satisfaction.

Goal setting and conduct for the internet business entrepreneur.

Goal setting theory claims that identifying goals allows entrepreneurs to render gauged decisions. Once these are accomplished, they naturally direct and provide motivations to ensure that these goals are attained. It also helps people commit to a specific thing and organize their activities so as not to prevent them from the intended achievement.

Performance is correlated to difficulty for the business entrepreneur.

The more demanding and difficult it is to achieve a goal, the higher the consequential performance level. Of course, if a task is a touch daunting, the more effort a person will likely give to accomplish it. Consistent with the goal setting theory, efficiency is influenced by four primary factors.

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First, goal setting centers on a person's attention to steps that would lead to a goal, thereby reducing the time and effort given to things completely unrelated. Second, as said earlier, the higher the goal, the more energy is required. Thirdly, when a person knows he has control over the time and effort to be set aside, the more diligent he becomes. And finally, there are lessons to be learned.

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Determination is powered by past actions

People get motivated to work toward an objective if they had been exposed to or familiar with a similar scenario that saw fiasco in the past. Goal setting theory notes that problems and discontent push people to do better the next time.

The clearer the objective, the better the performance

This needs no further details. If a successful business entrepreneur understands exactly what he wants to accomplish, it is going to be a lot easier to identify proceeding steps and faster to reach the goal. Performance performs at its full capability this way.

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Goal difficulty affects gratification

In relation to factor number two, people tend to get a greater worth when they complete difficult tasks. As per Locke and Latham's goal setting theory, fulfillment levels are driven by the amount of labor and sacrifice put into a particular goal. For the successful business entrepreneur challenging goals provide a stronger sense of achievement.

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