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SMART Objective Presentation PDF

SMART objectives are essential for businesses as they provide direction and focus by setting clear, measurable, achievable, realistic, and timely goals. An example is the Cherry Car Dealership aiming to increase SUV sales by 10% over three months, which meets all SMART criteria. This structured approach enhances the likelihood of achieving business targets.

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25 views6 pages

SMART Objective Presentation PDF

SMART objectives are essential for businesses as they provide direction and focus by setting clear, measurable, achievable, realistic, and timely goals. An example is the Cherry Car Dealership aiming to increase SUV sales by 10% over three months, which meets all SMART criteria. This structured approach enhances the likelihood of achieving business targets.

Uploaded by

Gift Simau
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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MNM4801

Online Class – SMART OBJECTIVES


6 May 2024
What is SMART Objectives?
• Objectives is crucial in any type of business, as it provides direction,
motivation and focus.
• Setting objectives help businesses to set targets to aim for.
• Having clearly formulated objectives guides everyone in the
business, so everyone is on the “same page”.
• SMART is an acronym that stands
for Specific, Measurable, Achievable/Attainable, Realistic/Relevant,
and Timely.
• SMART objective incorporates all of these criteria to help focus the
business efforts and increase the chances of achieving the
objectives.
SMART Objectives are:
• Specific: Well defined, clear, and unambiguous
• Measurable: With specific criteria that measure your
progress toward the accomplishment of the goal
• Achievable: Attainable and not impossible to achieve
• Realistic/Relevant: Within reach, realistic, and relevant to
achieve
• Timely: With a clearly defined timeline, including a starting
date and a target date or a period. The purpose is to create
urgency.
Example:
Stated Objective:
Cherry Car Dealership in Benoni needs to increase SUV sales by 10% during
the months of July to September 2024 (3 months) before the launch of the
new 2024 SUV model.
• Specific: Increase SUV Sales by 10%
• Measurable: Will be able to compare sales of July-September 2023 with
2024 sales to see if 10% increase has been obtained.
• Achievable: 10% is achievable and with vigorous advertising strategies they
will be able to do it.
• Realistic: 10% is a realistic figure to achieve over a 3 month period and
with a good sales team.
• Timeous: A time period of 3 months is given – July to September. Entire
dealership is on board and are aware of the time frame.
Sources:
• https://corporatefinanceinstitute.com/resources/management/smart
-goal/
• https://www.fossilconsulting.com/blog/qualifications-and-
training/setting-smart-training-goals/
• https://www.clearreview.com/resources/guides/which-smart-
objectives-definition-should-i-use/

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