3
Setting SMART objectives
This tool will help you:
- Derive targets to aim for
- Stay on track
- Motivate management and staff
About this tool
Objectives are intimately linked to goals. Your firm aims towards a goal, a destination typically articulated in words. Objectives are targets, whether along the route or at the final destination, and typically are set out in numbers.
You may aim for the goal of national market leadership in a key segment by 2018. That is a worthy goal, but a bit too vague for a robust strategy. More precise would be the corresponding objectives of attaining 33 per cent market share by 2016 and 35 per cent by 2018. These objectives should help deliver your goal of market leadership in that segment.
How to use it ...
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