what is an example of a smart model for goal settings

Expert Solution

SMART stands for
Specific
Measurable
Achievable
Relevant
Time Bound.

Goals are Based on Smart Model
(Where as objectives in general are not)

Example of Smart Goal setting in relation to finance is:

Today* a fortune 500 company named Reliance industries limited(RIL) made a major announcement that it will become a "net zero debt company"
It has almost $21.5 Billion dollar debt (approx) as till date.

It wishes to achieve it in 18 months time.

So it is a SMART Goal.

S- Specific.
Specific about reducing its Net debt of the company.

M- Measurable.
Net debt from $21.5 Billion to $0.

A- Achievable.
It's an achievable target set by the company taking into consideration it's EBIDTA Margin.

R- Relevant.

It's very much Relevant in the Economy today to be debt free.

(Because recently 2 major events Shaked the Indian Financial Market recently.

Suicide of a Business tycoon Veerappa Gangaiah Siddhartha due to Net debt of his company increasing.

RIL (Reliance) Chairman Mukesh Ambani brothers company Anil Ambani comapies becoming bank corrupt and going to insolvency procedure. )

Time Bound:

With in a time of 18 months from August 2019.

It was announced in 42nd AGM of RIL by its Chairman Mukesh Ambani.

The above is an example of SMART goal set by RIL for financial prosperity of the company.

jeff jeffy answered 6 months ago

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what is an example of a smart model for goal settings

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