Robert Bosch: Goal Setting and Workplace in Actual Organization

Bosch: Goal Setting and Workplace in Actual Organization 
Student’s Name
Institution
Bosch: Goal Setting and Workplace
The Company
Bosch has been selected as the company of choice for this project. Bosch is a German multinational supplier of technology and services (Bosch, n.d.a.). It was founded in 1921 by Robert Bosch. At the time of its inception, the company had the legal status of a sole proprietorship (Bosch, n.d.b.). However, with the founder in poor health and unclear about who would run the company and continue his vision after his death, changes had to be made. The company became a public limited company in 1917 and 49% of its shares were given to Bosch’s partners while he held the remaining percentage of the shares (Bosch, n.d.b.). The company has since grown to become one of the leading multinational technology companies in the world. By 2020, it has approximately 395, 000 employees in the world and a total sales of 71.5 billion euros. It offers innovative products in software, sensor technology, smart homes, household appliances, and industry 4.0, among others (Bosch, n.d.a.).
The Topic/Theory of Discussion
For this group discussion, the theory of goal setting and the workplace will be discussed. Understanding goal setting in the workplace is important because it provides an insight into how employees at a company utilize goal setting to create and achieve goals in line with their professional development needs as well as the company’s overall objective. Special attention will be paid to Bosch to understand how the theory of goal setting is applied in the company or how it can be better applied to help the company prosper. At Bosch, Just like many other organizations, goal setting carries a lot of weight. At Bosch, there is an annual goal-setting meeting that provides employees with an opportunity to assess the available opportunities for future professional development (Bosch Stiftung). Through such goal-setting activities, employees cannot only look back at what they have achieved so far with regard to their past goals but can also look ahead and identify future opportunities for growth and career development. Employees can also establish whether the company has opportunities that align with the professional development needs of each employee.
Group Project Summary
The purpose of this group project is to discuss goal setting and the workplace. Goal setting involves meaningful actions that are aimed towards achieving a goal or an objective in the workplace. According to Locke and Latham (2020), in goal-setting theory, meaningful work towards a goal...