Ambitious, dynamic goal-setting as a tool to improve the competitiveness of the metallurgical company

A. V. Kolobov ()

Russian Journal of Industrial Economics, 2019, vol. 12, issue 2

Abstract: The article describes an approach to dynamic definition of achievable ambitious goals of the company on the horizon from two to five years and their breakdown for organizational units that allows to provide a market advantage over competitors. To solve this problem we describe a mechanism for analysis of the main factors in improving competitiveness of the enterprise based on Michael Porter’s Five Forces. A new approach to determine quantitative values of goals that are ambitious and stimulate staff to achieve significant results is proposed. The approach to breaking down these objectives for the company’s units on the basis of theoretical potential assessment is also described. The ambition of the approach is dictated by the need to include factors of production in ensuring the final result of the enterprise. The proposed method allows to determine reasonably such quantitative values of goals that will be ambitious but at the same time achievable. On the basis of the methodology an example of setting ambitious cost reduction goals for the departments of the steel making enterprise is shown.

Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:ach:journl:y:2019:id:744

DOI: 10.17073/2072-1633-2019-2-205-212

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