GROWING A BUSINESS REQUIRES COMPANIES TO EVALUATE THEIR
GOALS AND IMPACT. VAN GRAY, PROFESSOR OF MANAGEMENT, EXPLAINS THE IMPORTANT STEPS OF MEASURING OBJECTIVES TO STAY ON A SOLID TRACK OF SUCCESS.
“It's really kind of trying to answer a classic question…if you'll tell me how you'll measure me, then I'll tell you how I'll perform. That external pressure is always to try to answer those questions about, are you really living up to the promises that you're making, through your vision, through your mission and through your communication with your various constituent groups.”
“The first step, it's a research step. What are some important questions for us to ask, what are our promises? Then we have to identify some gaps that we may have…Are we measuring the right things? Are we capturing the right things? And then are we communicating how we are meeting our obligations, meaning our promises with our various communities. We need to constantly ask ourselves, is this really who we're about? Are we moving in the right direction? Should we give ourselves a different compass? Should we update the compass?”
GRAY SAYS THAT SMALL MOM AND POP BUSINESSES, LARGE AND
MULIT-NATIONAL GLOBAL CORPORATIONS ALL NEED TO USE THE SAME PRINCIPLES OF GOAL SETTING.
“The scale may be changes in the audience has changed, but, but at its heart, we're all trying to do the same thing.”
THE BUSINESS REVIEW IS A PRODUCTION OF LIVINGSTON MCKAY AND THE HANKAMER SCHOOL OF BUSINESS AT BAYLOR UNIVERSITY.
