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Setting SMART Goals for productivity

Setting Goals for Productivity Module 3: Setting and Achieving Goals for Productivity Setting SMART Goals for productivity

Goal setting is an integral part of running a business. Setting goals will provide a business with direction, motivation, and clarity. Goals also provide businesses with a target to reach. Businesses often use the SMART goal model to assist with goal setting. SMART is an acronym for: Specific, Measurable, Achievable, Realistic, and Timely. The SMART goal model is useful for businesses because it allows them to identify their strengths, track progress, and find areas that need improvement. The five criteria of the SMART goal model are expanded on below.

SMART goals defined SMART is an acronym for the following five characteristics. These characteristics should be included in the goal setting process to achieve success:

Specific

goals should be straightforward, specific, and clearly defined. Having specific goals will help a business to focus and have a clear idea on what it wants to achieve. Being specific with goals also makes it easier to determine what steps need to be taken to achieve that goal.

Measurable

with goal setting, businesses should know what criteria, or which metrics, they will use to measure their progress towards achieving a goal. Objectives should be quantifiable so that progress can be easily measured. For example, a business can measure quantitative objectives such as returns and outputs, or they can measure qualitative objectives such as the quality of returns and outputs.

Achievable

it is important to set business goals that are realistic and attainable. A goal that is realistic will provide invaluable information about the business itself and its operations, rather than being something unachievable. Achievable goals also enable a business to trial best practices for reaching a goal, based on measurements.

Relevant

businesses should set goals that align with the business’s objectives and visions. Relevancy will help a business to determine what should be done specifically for business growth. A business can identify whether a goal is relevant, by looking to see what benefit it brings to the business.

Time-bound

goals should have a deadline or timeframe within which they should be achieved. The process of planning and implementing goals will be more organised if there is a deadline. Deadlines work as a motivator and will encourage employees to work more efficiently.

Refer to the Image Below: SMART

When setting SMART business goals, it is important to involve employees/team members in the process of brainstorming and selecting goals to focus on. This will help to develop enthusiasm and interest amongst employees/team members. Each step to achieving the SMART goal should be planned. And the goal should be documented so that each team member is aware of the goals and the smaller steps to be taken – this ensures everyone remains on track. Furthermore, after each project is completed, the whole process should be evaluated to see where improvements could be made, to see what was successful, and what could be modified. A SMART goal can also be adjusted or modified but should still align with business objectives and missions.

Task: MCQ Completion of the In-Lesson Task does not contribute to the assessment grading and serves as preparation for the final assessment.

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Setting SMART Goals for productivity