Question & Answer: You are a business major, list your long-term goals? Describe the steps that you have taken to ensure…..

Long-term goals are objects of your ambition or effort that will take time to accomplish. They cannot be achieved quickly. Rather, they require careful planning and serious commitment. As a major of the business there are few long terms goal I am going to make such as:-

• Customer satisfaction

This will be my 1^st goal, if the customer is satisfied with my services or product than that will automatically help the company to grow further. Because that way you will able to make loyal customers.

• Optimum utilization of resources

This will be my 2^nd goal because if I am able to use my resources at best then the wastage for my company will reduce which will help me to maintain the cost of the production and increase the profit for the company.

• Allocate right budget to each department

If you are allocating the budget to each department than the each department will able to know how much resources they have and how much they can spend to achieve the common goal of the company.

• Set a quality standards

As a manager you should give standard guildlines to the each department regarding the standards of the quality of the product they are producing or services they are giving to customers so that incase any one misses at any point of time, there will be no surprises for the person.

There are lots of problem while making the long terms goal for the company as well. Challenges like:-

• Make feasible goals

Sometimes this happens that management make the goals which are not at all feasible or realistic. This is very important that the management will make the goals which are actually achievable.

• Make the changes in middle of working

This is another thing that a management need to do. They need to make the changes in the middle of the year or while working because of any reason like change in rules of government , change in technology, etc.

• Correct cost allocation

The management need to allocate the cost or budget to each department correctly or sensibly because if they allocate less money than the team will get de-motivated as they will not able to achieve the goal properly and if they allocate more money than required than that will result in wastage of resources.

The company can deal with these problem by :-

• Comparing the data bases of research or past experience
• Making the team for which can help to set these long term goals
• Making the plan flexible so that the changes can be done easily
• Inviting the suggestion from the low or middle level employees as well because they are the one who are more close to the work