Goals and Objectives Complex Business Models

Question: Discuss about theGoals and Objectivesfor Complex Business Models. Answer: Introduction For all organizations, goals and objectives are the basis of all their undertakings. It is normality for a business to operate in tandem with a certain timeline that reflects what has been achieved and what remains to be done to take the organization to the next level. However, for others, goals and objectives are a mere formality which are only present because conventionally, they ought to be there (Cothran and Wysocki, 2012, n.p). The modern business environment is so competitive that setting goals and objectives has become a definitive factor between success and failure. For Company A, setting goals and objectives and attaining them has been the difference between being a retail shop 4 years ago to being a chain store. Founded in 2012, Company A identified the niche in the locality and aligned their operations on long-term growth along short-term objectives (Smith, 2010, 460). During the time of entry, Company A realized that the local market was flooded with retail shops but with little ambition for expansion. The main competitor had stayed in the business for 1o years and although it had a huge influx of customers, A realized that most customers had the potential but were probably finding it hard to shop conveniently. After a scan of the environment, As manager realized that most people were shopping in small quantities on a daily basis because of the suffocated space within the premises. This proved the turning point for the company. The manager undertook to expand the premises within 1 year. In the meantime, the management embarked on an evaluation exercise by speaking with the customers and tapping feedback. However, there was one big challenge; the capital for expansion since the business had not picked (Locke and Latham, 2006, 270). However, the manager of A undertook to expand the premises while maintaining the current stock level. After 1 year, A expanded the shop by combining the premises with another adjacent shop. There was more space for customers and within the first month, the number of customers had doubled. However, the sales were not improving. Company A decided to open another store a few meters away from the first shop. The constant objective was to reroute some of the customers to the new joint so that their stock would not be subdued by the customers concentrated at the original shop. Within 5 months of opening, the branch has gained impressively while branch 1 experienced reduced customers. Once this was done, the retailer undertook to open another branch away from the first 2 with specialization in household goods only so that they could tap in more customers and channel them to the other stores for other non-food stuffs. This trick worked and within the first 3 years, company A had 3 robust branches that offered customers a wide variety of products (Campion., et al, 2010, 250). Presently, company A has 8 branches while plans are underway to open the 9th branch. This is a demonstration of exemplary goal setting and a confirmation that sometimes long-term objectives ought to come first before the short-term goals. References Cothran, H.M. and Wysocki, A.F., 2012. Developing SMART goals for your organization.Retrieved March,25, p.2013. Smith, W.K., Binns, A. and Tushman, M.L., 2010. Complex business models: Managing strategic paradoxes simultaneously.Long range planning,43(2), pp.448-461. Campion, M.A., Fink, A.A., Ruggeberg, B.J., Carr, L., Phillips, G.M. and Odman, R.B., 2011. Doing competencies well: Best practices in competency modeling.Personnel Psychology,64(1), pp.225-262. Locke, E.A. and Latham, G.P., 2006. New directions in goal-setting theory.Current directions in psychological science,15(5), pp.265-268.