Inside CGN: Our World
Barriers to Achieving Business Goals
By Ram Venkataraju
Often, organizations set business goals that they want to achieve. The goals set the direction in which the organization wants to move forward to align itself with the desired future state. These goals are usually for a one to three year period or sometimes even a five year period. Even though companies come up with effective ways of setting up business goals, such as: quantifiable goals (SMART goals), setting deadlines, and converting goals into action plans, often they fail.
There are various barriers that keep an organization from achieving its goals and strategy. Below are some common barriers that prevent an organization from reaching its potential:
Ownership and commitment: Business goals cannot be achieved if people in an organization do not have the same level of ownership and commitment towards working on goals as the business leaders. When leaders grow, inspire and reward employees for good performance, employee morale and commitment improve, which, in turn improve their performance. Ownership and commitment relate to the connection that people have with their organization. Helping employees understand business strategy and goals, and how their role will contribute to achieving said strategy, creates an environment for employees to excel. Along with incentive rewards, this will result in increased ownership and commitment.
Decision making: Decision making is one of the most critical factors when it comes to running a business. Business leaders make several decisions each day that can impact customers, employees or the business ecosystem. Sometimes, organizations cannot make progress toward their goals as business leaders cannot make critical decisions due to complexity and potential risks. Researchers have come up with several disciplines for effective decision making using Operations Research, Decision Science, etc. They follow a structured approach to decision making by looking at objective/goal, facts and possible options. CGN has extensively helped clients in critical decision making processes, by establishing a business structure wherein the problem, possible solutions through deep-dive analysis and potential impacts would be discussed for rational decision making.
Organizational silos: In organizations, employees are divided by different business units to create focus and achieve specific goals. However, this creates silos as each business unit will be working towards their business goal rather than the organization. Silo mentality is a big hurdle for organizational excellence and is created and driven by leadership. The hurdle could be broken, by creating a unified vision, working towards a common goal, collaboration and motivation.
Lack of resources: Businesses might come up with lack of resources (people or tools) as a reason for not achieving their goals. However, effective plans could be made to mitigate this gap. Solutions could be as simple as identifying a cross functional team with capabilities to design and carry out the tasks of developing a workforce plan to plan recruitment of necessary resources.
Change Management: When organizations undertake transformation initiatives, they require changes in organizational behavior and capabilities. Employees across all levels must embrace and make successful transitions along with the organization to make the transformation successful. CGN has worked with our clients in implementing change management during business transformation initiatives by creating programs focused on educating transformation goals and objectives, identifying skill gaps and facilitating training, communicating progress, insights and achievements.
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CGN has extensively worked with their clients to transform their organization to meet business goals. Based in the Americas, Europe and Asia, CGN is a trusted advisor to fortune 500 companies and has a proven track record of innovating and transforming global brands towards increased stability, greater revenue and competitiveness.