Staying the course, winning the prize

FUNCTIONAL and efficient organisations rely on clearly laid-down goals to succeed.

Well articulated goals give definite direction to any organisation, particularly in periods of economic uncertainty. Setting objectives is one of the surest benchmarks of the direction the organisation is expected to take.

In treacherous economic situations, a clear roadmap is fundamental in navigating towards set goals.

But once the target is set, staying the course is equally important. Business executives do not have the luxury to be negligent, sloppy and inconsistent.

This obviously goes against the grain of fiduciary expectations.

In particular, negligence — which is not paying due attention to the business - typically leads to disastrous ends for most firms.

The minute business leaders start focussing on petty issues that do not drive the company forward, they will ultimately lose the plot.

Every company is most likely to have different dynamics and company politics that may affect the company in a way, but such company politics should not divert the core business of the company.

Focussing on goals that do not strategically move the company forward is counterproductive.

Petty internal company dynamics unnecessarily channel more energy to unproductive ends. Where staff expend energy pursuing different agendas, the organisation is likely to lose direction.

Put glibly, the objective of companies is to make profit and ensure the continued growth of the businesses.

Taking eyes off the ball can be catastrophic. This is usually the case for companies that start well but run into problems as greed creeps in and divergent agendas take their toll on the way the organisation is managed.

And this is precisely the reason why objectives are so indispensable in the way companies are run.

They force employees to pull in one direction, particularly in circumstances where the result-based model is used.

In other words, the workforce is given a target to aim at and the drive needed to succeed.

But the business objective, which so often is tied to the vision of the shareholders and or business leaders, has to be well articulated for it to be satisfactorily met. The vision has to be shared. In itself, setting objectives enables management to assign individuals within the organisation with specific targets and responsibilities, and also having a measurable template to refer to when reviewing their performance.

By so doing, management can therefore be able to compare objectives with actual performance and adjusting processes and behaviours as required. Such a business approach can also be applied on the national scale.

Zimbabwe has set various objectives and agendas over the years, some were achieved and others were not. A thorough review of why objectives are not met is very important.

Changing geo-political circumstances, including fluid relations between Zimbabwe and the West, have made it difficult for the country to stay the course on economic plans.

Every new circumstances demand a different economic approach, hence the difficulty that the country has been experiencing in growing the economy over the years.

Indeed, sanctions have to a greater extent contributed to the decline of the economy over the past 16 years but it is important to acknowledge that we also took our eyes off the ball.

There is now renewed need to focus on matters that add economic value.

Zim-Asset, as a five-year economic plan that has been committed to by policy makers, has to be expeditiously implemented by all means.

While it also true that experience is the best teacher, a smart way is to leverage on the experience and expertise of other staff members in order to get ahead in life.

Smart entrepreneurs always surround themselves with mentors, consultants, coaches and other professionals generally smarter than themselves on specific areas of their business.

Our experience as Zimbabwe should teach us that we need to go back to basics and stick to our objectives.

Comparing the Zimbabwe of 1987 and the Zimbabwe of 2017 will surely be instructive.

Now that we know why objectives are important and how to set them, the most important matter is on how to actually stick to them.

At various points throughout the year, it is important to take time to review the progress you have made towards meeting the objectives. Are there any sticking points or causes for concern?

Success depends on a well-calculated game plan with objectives. The discipline and resolve needed to meet these objectives is very important.

Taurai Changwa is a member of the Institute of Chartered Accountants of Zimbabwe and an estate administrator with vast experience in tax, accounting, audit and corporate governance issues. He is MD of SAFIC Consultants and writes in his personal capacity. Feedback: tauraichangwa1@gmail.com, Facebook page SAFIC Consultancy and WhatsApp +263772374784