Business Plan Smart Objectives

Business Plan Smart Objectives-89
Plan: A retailer intends to increase business profits by the end of three months and hence devises a plan that will involve his entire team of floor staff.Hence he divides his team into five different sub-teams based on the five departments of retail goods in his store.

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For example, if you set a goal for your team to talk to five new people each day about your company, but don’t tell them why they should be meeting new people, or how meeting new people will have a positive impact on the company, you likely won’t find much success.Attainable - Third, your goals should be attainable.If you tell the sales team to increase sales by 150% this quarter and they only increased by 3% last quarter, then you are probably out of touch with what is actually attainable.Here are some comparative examples of SMART business goals—some which are just not achievable and others which are achievable because of the SMART objectives that are in place.: Plans of ideas: You want to start a carpentry business and hence you buy some tools and let your friends and neighbors know that you are into the business race.At the same time you expect to earn a huge profit from your carpentry business plans.Practical View: There is little to no success rate that can be achieved from such a plan in terms of profit. is an acronym that stands for: Many entrepreneurs have used the SMART process to set structured goals for their business and to provide their employees a target to aim for.An example of a specific goal might be, “The sales team (Who) should increase sales (What) of our electronics product line (which), this quarter (When), in the Midwest region (Where)”.The following are illustrative examples of smart objectives.Several variations of the SMART criteria exist such as Specific, Measurable, Achievable, Realistic and Trackable. Reproduction of materials found on this site, in any form, without explicit permission is prohibited.


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