MGT538- GOAL Setting PDF

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UNIVERSITI TEKNOLOGI MARA PERLISPERSONAL DEVELOPMENT AND ETHICS(MGT538)GOAL SETTINGGOAL SETTINGTo accomplish anything in life, there needs to be a plan and a path to get there. The hardest choice for a person in making a good career choice and goal setting for career is to decide what exactly you wa...

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UNIVERSITI TEKNOLOGI MARA PERLIS PERSONAL DEVELOPMENT AND ETHICS (MGT538)

GOAL SETTING

GOAL SETTING To accomplish anything in life, there needs to be a plan and a path to get there. The hardest choice for a person in making a good career choice and goal setting for career is to decide what exactly you want. Although sometimes it is very likely that you know what you want to be, but even then you have doubts whether your choice is right or wrong for you, whether it will be going to work for you or not. Goal setting is a powerful process for thinking about your ideal future, and for motivating yourself to turn this vision of the future into reality. The goal setting process assists you to decide where you want to go in life. If you know exactly what you want to achieve, where you want to be in your life, you are always clear about the areas where you need to put your efforts. You can also identify the distractions which can potentially lure you from your course. When you set an objective for yourself, you should include each step necessary for success. To help, you can use a framework called SMART goals. A SMART goal is a carefully planned, clear and trackable objective. It stands for Specific, Measurable, Attainable, Realistic and Timely. As for me, after I’m done with my degree that will complete around 2022, I want to have my own brand for clothing and scarf that called “Deizy”. The name “Deizy” is taken from Daisy flower meaning new beginning for someone. To achieve this goal, I follow Zig Ziglar’s goal setting formula. Zig Ziglar is an American motivational speaker. Based on Zig Ziglar formula, there are seven steps of goal setting. There are Identification, Benefits, Obstacles, Skills, People, Plan and Timelines. First step is identification. It means to identify what are my goal in every aspect in my life, such as in money, career, health, religion, physical appearances and many more. It can be one month goal, one year goal or ten year goal. As I state my goal based on SMART, it is to have my own brand for clothing and scarf after I’m done with my degree around 2023. It might not be easy and very challenging but it has been my goal to have my own brand since I’m at secondary school. I want to helps other as well as myself. Being a businesswoman will be a very tough journey for someone who does not have any experience like me but I think it will be worth all of the sweat and tears as soon as I achieve this goal. Furthermore, the next step of this goal is list the benefit. As a business owner, I’m my own boss. I can’t get fired. More importantly, I have the freedom to make the decisions that are crucial to my own business success. Next, is lifestyle. Owning a business gives me certain lifestyle advantages, it is because I’m in charge, I decide when and where I want to work. If I

want to spend more time on non-work activities or with my family, I don’t have to ask for the time off. In addition, financial rewards. In spite of high financial risk, running my own business gives me a chance to make more money than if I were employed by someone else. I’m benefit from my own hard work. Moreover, I can have learning opportunities. As a business owner, I’ll be involved in all aspects of my business. This situation creates numerous opportunities to gain a thorough understanding of the various business functions. Also, it can give creative freedom and personal satisfaction. As a business owner, I’ll be able to work in a field that I really enjoy. I’ll be able to put my skills and knowledge to use, and I’ll gain personal satisfaction from implementing my ideas, working directly with customers, and watching my business succeed. Despite all the benefit, there will always be the obstacle to accomplish this goal. First is financial risk. The financial resources needed to start and grow a business can be extensive. I may need to commit most of my savings or even go into debt to get started. If things don’t go well, I may face substantial financial loss. In addition, there’s no guaranteed income. There might be times, especially in the first few years, when the business isn’t generating enough cash for me to live on. Next is stress. As a business owner, I’m the business. There’s a bewildering array of things to worry about like competition, employees, bills, equipment breakdowns, customer problems. As the owner, I’m also responsible for the well-being of my employees. Next, time commitment. People often start businesses so that they’ll have more time to spend with their families. Unfortunately, running a business is extremely time-consuming. In theory, I have the freedom to take time off, but in reality, I may not be able to get away. In fact, I’ll probably have less free time than you’d have working for someone else. Vacations will be difficult to take and will often be interrupted. There’s also a lot of skills that need to be acquire to attain the goal. First is financial management. Being able to effectively manage my finances is critical. I will need to be able to forecast your cash flow and sales, as well as, monitor your profit and loss. Having sound financial management skills will help me to run my business profitably and protect my financial investment. Next, is marketing, sales and customer service. It is important to be able to promote my products or services effectively. Providing good customer service and having a marketing strategy in place will help me to generate sales. In addition, communication and negotiation is also one of the skill that I need to learn. I will need to communicate and negotiate with my suppliers, potential investors, customers and employees. Having effective written and verbal communication skills will help me to build good working relationships. Moreover, leadership is one of the skill that need to be learn. If I employ people, leadership will be a key skill. I must be

able to motivate me staff in order to get the best out of them and improve productivity. Furthermore, project management and planning is also essential. Starting a business means I will have to manage a range of projects, such as setting up a website, arranging the fit-out of my premises and developing a range of policies and procedures. Knowing how to effectively manage my resources, including time, money and staff will help me to achieve your goals. Also, problem solving is one main essence of skill that I need to learn. However much I plan, I will always encounter problems in my business. This means I need to be able to make good decisions, sometimes under pressure. Lastly, networking. Building good relationships through networking will help me to grow my business and give me the support I’ll need. People that can assist with my goal is someone creative that full with new ideas. Next, someone who are willing to take risk, want to learn, someone that not afraid to make mistake and not easily give up. When I’m still doing my degree, I will save my own money so that it can be my capital money to start a business. After that, I’ll find a team that will work with me to design and finding the best material for the scarf and clothes. When I finish with designing and creating my product, I will explore my target market and start selling my product. The dateline for this goal is when I reached my birthday on 13 May 2024. I’m well aware that this goal might be very challenging for a fresh graduate like me but once I put my mind on it, I’ll work for it until it become a reality that can be talk about to everyone....