What are SMART goals in operations?

Business & Management
#1

Goal setting is primarily important before proceeding towards any gols. Hence proper planning is required.
goal to be achieved must be:

Specific: Be clearly set out in a specific manner. Refer to actual facts and concrete figures.
Measurable: The results or goal must be able to be measured in units or in any other exact way.
Attainable: the goal must be attainable or achievable, it must not be something out of reach or too ambitious. If the goal is too ambitious and never achieved, employee morale may suffer.
Realistic: the goal must be realistic in what it sets out to achieve with the available resources and time frame.
Time based: The goal must have a due date by when it should be achieved. The time line or due date for the goal must also be realistic and achievable.

#2

It is specific, quantifiable, reachable, timely, and relevant. The Smart Goal approach gives the Operational Manager a framework with which to set a long-term goal. It also gives them a time restriction for working on the same goal.

Specific: Gives a detailed and clear description of what has to be done.

Example- increasing revenue and reducing expenses in the year 2022.

Measurable: Provides a statistic, such as a number, that indicates when the goal has been met.

Example- achieving a 15% increase over the previous year in sales.

Attainable: The goal must be attainable within the timetable and budget constraints.

Example- 10% increase in new customers and reduction in the churn rate.

Relevant: Important, significant, and in line with corporate goals.

Example- sales improves the bottom line

Time-Bound: The goal must be completed by a certain date; scoring occurs at this point to determine if the goal was met.

Example- The sales to be increased successively in each quarter.

2022-02-05T18:30:00Z