Question

In: Economics

What does M stand for in SMART objectives? Explain and provide two examples of objectives that...

What does M stand for in SMART objectives? Explain and provide two examples of objectives that would fit the M criteria?

Solutions

Expert Solution

S stands for Specific
M stands for Measurable
A stands for Achievable
R stands for Realistic
T stands for Time-bound

Every company's goals should be SMART i..e specific, measurable, achievable, realistic and time-bound. Goal statement is the most important document for any company, basis on which whole organization works.
Here, Measurable means to measure the progress of work towards achievement of goal, within specific criteria. Any goal that is defined in goal statement should be measurable. Any goal which in not measurable in not a goal. Questions that can be asked here in:
How much?
How many?
How would I know when the goal is reached?

Let's understand with an example (let take basic day to day life example to understand)
1) I want to reduce 9 Kg weight by 28th Feb (at 3 kg per month) and reduce fat, gain muscle.
Here, goal is Measurable i.e. 9 kg weight loss, at 3 kg per month., it also has other SMART goals.
2) A company wants to open its new branch in New Jersey by 31st Dec, 2019, employing nearly 100 employees.
Here, goal is again measurable. By 31st December, 2019, if the new branch is opened or not can be measured.


Related Solutions

Java Programming Explain what is MVC. What does is stand for and explain what MVC suggests...
Java Programming Explain what is MVC. What does is stand for and explain what MVC suggests for the different parts of an Application? [PLEASE STOP COPY AND PASTE ANSWERS FROM OTHERS]
EXplain current development in smart Grid with examples?Name the fundamental technologies that will drive the Smart...
EXplain current development in smart Grid with examples?Name the fundamental technologies that will drive the Smart Grid?
What does it mean to "be smart"?
What does it mean to "be smart"?
Smart exporters insist on irrevocable letters of credit. Why? Provide examples.
Smart exporters insist on irrevocable letters of credit. Why? Provide examples.
Explain what is Minkowskian Geometry and provide examples.
Explain what is Minkowskian Geometry and provide examples.
What does i.i.d. stand for in econometrics?
What does i.i.d. stand for in econometrics?
What Does PXE stand for and what are the benefits?
What Does PXE stand for and what are the benefits?What is Reliability Monitor?What are PXE and Reliability Monitor used for and their Benfits?
Explain how the two objectives are connected together in cell biology by giving examples or elaborating...
Explain how the two objectives are connected together in cell biology by giving examples or elaborating on each. Cell Communication and Membrane Structure
What does the acronym “ADR” stand for, how do ADR’s work; give three examples. Make a...
What does the acronym “ADR” stand for, how do ADR’s work; give three examples. Make a judgment as to the “safety” of Shell’s dividend – is it at risk of being cut, use financial data/results to support your answer.
Does GDP measure well-being? Explain and provide 4 specific examples, two that illustrate the connection between...
Does GDP measure well-being? Explain and provide 4 specific examples, two that illustrate the connection between GDP and well-being, and two criticisms showing the disconnection. Explain how we might better account for each of your two critical examples.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT