Four Steps for Achieving Success: Goals, Planning, Inspiration, and Evaluation - Essay Sample

What role do you think goals would play in planning the change in direction for the company? List some goals you think might be necessary. (Make sure these goals have the characteristics of well-written goals).

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In shifting direction, goals and objectives play a critical role in providing guidance, facilitating planning, inspiring and motivating the workers, and evaluating its performance. Well-defined goals will inspire and mobilize Garmin Ltd employees to work towards a particular direction by making sure that workers understand what they need to accomplish in the present and future. In that statement, the company’s core objective should relate to making employees feel valued through recognition and a well-defined communication system. Other important goals of the company during the change process includes offering services and products that satisfy the clients’ needs, and with utmost respect and integrity, and creating a business environment characterized by respect and integrity.

What types of plans would be needed in an industry such as this one? (For instance, long-term or short-term, or both?) Explain why you think these plans would be significant.

Garmin Limited is a company operating in the technology industry, a fast-paced industry characterized by ever-changing consumer needs due to frequent advancements. Therefore, the organization requires flexible short-term plans that will accommodate the rapid changes. The long-term goals provide better ways for the company to map out its mission, vision, and priorities. However, the strategy does not allow for agility and adjustments along the process of change. Therefore, Garmin Limited should focus on agile short-term strategic plans that will allow frequent reviews, regular assessments of progress, and appropriate response to the emerging changes.

What contingency factors might affect the planning Garmin executives have to do? How might those contingency factors affect planning?

Contingency factors such as lack of sales can severely affect Garmin Limited executives' planning. In this case, fewer returns are primarily caused by political and legal proceedings, such as imposing the additional U.S and foreign governmental controls and regulations. These legislations are likely to result in new and enhanced restrictions on free trade or tariffs to the company’s products imported to other countries. For instance, trade restrictions by the U.S to China could have substantial devastating impacts on the company’s business operations and financial condition.

What planning challenges do you think Garmin executives face with continuing to be the global market leader? How should they cope with those challenges?

Being the global market leader, Garmin Limited and its executives face unique and increasing competition from each of its different business segments, and the threat of substitutes for its products. However, the company can cope with these challenges by developing products that incorporate the latest technologies and paying attention to consumers’ opinions, demands, and needs.

Think about the importance of planning, goals, and directions for your professional development as a leader, manager, or line employee. What are your short-term and longer-term goals for your professional development? Where are you going? How will you get there? What will be the measures indicating your progress?

The short-term goals for my professional development include improving my networking and communication skills, elevating my performance numbers, and using time effectively. On the long-term front, I intend to improve my leadership skills, gain management experience, and land a job within my professional line. In the future, I want to be a leader and a manager, and I intend to achieve them by sharpening my communication and listening skills.