Many business experts suggest that both corporate and functional objectives need to conform to a set of criteria referred to as an acronym SMART.
The SMART criteria are summarised below:
|Specific||The objective should state exactly what is to be achieved.|
|Measurable||An objective should be capable of measurement – so that it is possible to determine whether (or how far) it has been achieved|
|Achievable||The objective should be realistic given the circumstances in which it is set and the resources available to the business.|
|Relevant||Objectives should be relevant to the people responsible for achieving them|
|Time Bound||Objectives should be set with a time-frame in mind. These deadlines also need to be realistic|
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