Setting Performance Targets

by Carolyn Stringer, Paul Shantapriyan

Targets are an important part of our work life, whether we are setting themor meeting them. There is a science to target setting. Unfortunately thebehavioral impact of target setting on performance is underestimated.This can lead to serious consequences such as game playing, overchargingcustomers, or demotivating competent managers.This book will help you fill the gap in target setting for performance. Thepivotal issue in target setting is that it is an art as well as a science. Perhapsmore of an art, requiring a balance between the psychologies of the peopletaking initiatives, the science of estimating probabilities and aligning withstrategies, coupled with the motivational effects of incentives. You will alsobe introduced to some of the important methods in target settingsuch as forecasting, sensitivity analysis, and probability analysis; all ofwhich include practical examples to show how these techniques can bedirectly applied. In the end, you’ll learn how interrelated the various partsof organizational activities are and how they impact on each other, whichis important since target setting must include an understanding of theorganizational context (e.g., people, competitive environment, structure,strategy) as well as the impact of incentive compensation and informationflows.

170 pages, Kindle Edition

First published December 14, 2011