[NOTE: This episode is republished from #92 in October 2019.]

Goals are often misunderstood. Goals are much more than just objectives that are handed down to subordinates. Rather, goals are self-determined in the best cases, and at the very least, are set collaboratively to get the most out of them.

We discuss Goal Setting Theory (GST), results from research that Tim conducted, and we address the three key elements that must be included to maximize the effect of the goals: 1. The goals must be perceived as achievable. Without perceived achievability, the goal is not accepted and, therefore, not a goal. 2. There must be some involvement with those who are executing the goals. If the goal is handed down from on high without meaningful participation from the person who’s going to act on it, it’s not a goal. 3. There must be a positive relationship between the goal and the reward (including a perceived assessment of risk). As the risk of achievability increases, so must the perceived value of the reward.

This short grooving session also delves into some myths and how to deal with them. Ultimately, we want listeners to come away with a clear understanding of the powerful results than can be obtained with practical and effective use of self-selected goals. 

Links

Zig Ziglar: https://en.wikipedia.org/wiki/Zig_Ziglar

Goal-Setting Theory: https://en.wikipedia.org/wiki/Goal_setting

Edward Locke: https://peakon.com/us/blog/future-work/edwin-locke-goal-setting-theory/

Gary Latham:  http://www.rotman.utoronto.ca/FacultyAndResearch/Faculty/FacultyBios/Latham

Howard Klein: https://fisher.osu.edu/people/klein.12

Ran Kivetz: https://www8.gsb.columbia.edu/cbs-directory/detail/rk566

George Loewenstein: https://www.cmu.edu/dietrich/sds/people/faculty/george-loewenstein.html

Saurabh Bhargava: https://www.cmu.edu/dietrich/sds/people/faculty/saurabh-bhargava.html

Raghuram Bommaraju: https://www.isb.edu/faculty-research/faculty/directory/bommaraju-raghuram