Dec 12 2023

GoalEnvision answers and explains - Formulating realistic and measurable goals (SMART goals)

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What are SMART goals?

SMART is an acronym that stands for:

Specific: Goals should be clear and concrete. Avoid vagueness and ambiguity. Answer the questions "What do we want to achieve?" and "Why is it important?"
Measurable: Goals must be measurable so that you can assess progress. Define how you will measure success and what key figures or indicators you will use.
Accepted: Goals should be realistic and achievable. They should be accepted by those responsible for achieving them.
Relevant: Goals should be relevant to your purpose and strategy. They should support the overall vision and not be divergent.
Time-bound: Goals must have a clear timeframe. Define when the goal should be achieved, which creates a sense of responsibility and pressure to follow the plan.

Read more about the developed SMARTER model in GoalEnvision...

 

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Steps to Formulate SMART objectives

  1. Clarify purpose and vision: Before you start formulating SMART objectives, make sure you have a clear understanding of your company's overall purpose and vision. Your objectives should be in line with these.
  2. Specify your goal: Formulate the goal as specifically as possible. Use detailed and concrete language to avoid misunderstandings.
  3. Measurable criteria: Identify the measurable criteria that you will use to assess the success of the goal. What will you measure and how will you do it?
  4. Realistic Assessment: Assess whether the goal is realistic and achievable with the available resources and timeframe. If it is too ambitious, consider adjusting it.
  5. Relevance to Strategy: Check if the goal is relevant and linked to your strategy. Make sure it supports your overall business objectives.
  6. Time limit: Set a clear timeframe for when the goal should be achieved. This gives a sense of urgency and responsibility.

Example of SMART goals

Let's take an example in project management to illustrate SMART objectives:

General objective: Improve customer satisfaction.

SMART objective: Increase customer satisfaction by 15% by reducing response time to customer support requests from 24 hours to 12 hours within the next 6 months.

In this example, the goal is clear, measurable, achievable, relevant and time-bound. It provides a clear direction for improving customer satisfaction.

Conclusion

Formulating SMART goals is a critical part of planning. By making your goals specific, measurable, achievable, relevant and time-bound, you give yourself and your team a clear direction and the ability to measure progress. In the next chapter, we will explore how you can develop strategies to achieve your SMART goals.

 

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