Setting up smart goals is very crucial for an organization’s smooth functioning and survival. Smart goals work as a guiding force for both individual personnel and organization and direct action in a specific direction that ensures the accomplishment of objectives.
Both individual and organizational goal setting create many problems goals may be irrelevant, unrealistic, and unattainable which affects morale, and the wastage of resources and time.
So in this article, we will learn about What is smart goals, and their components explained with detailed examples.
► What are Smart Goals?
A SMART goal is a well-established tool that helps an individual, group, and organization plan and achieves goals. SMART stands for Specific, Measurable, Achievable, Relevant, and Time-bound.
In other words, a SMART goal is defined as a framework that guides goal setting and helps in achieving better results within a certain time frame.
◉ Smart Goals Meaning
SMART goals simply mean well-designed goals which are realistic, relevant, and futuristic in nature and have the aim to accomplish expected outcomes in a fixed time, the progress of goals must be trackable and measurable.
Developing smart goals assists personnel and organization to increased efficiency, profitability, and productivity. They are specific, achievable, and timely which help in formulating a clear path to attain success and fulfill determined objectives.
◉ Definition of Smart Goals
Smart Goal can be defined as a goal that is Specific (clear and well-defined), Measurable (can be valued precisely), Attainable (possible to achieve), Relevant (aligned with personal life), and Time-bound (have a deadline).
A S.M.A.R.T goal is a well-planned roadmap set up by the individual and organization to focus on efforts that increase the chance of achieving goals. This method of goal setting help in measuring progress and being accountable for your action.
Full Form of SMART Goals
SMART in Smart goals stands for Specific, Measurable, Achievable, Relevant, and Time-Bound. Let’s understand all the components of smart goals more in detail.
- Specific
- Measurable
- Achievable
- Relevant
- Time-bound
✔ 1. Specific
- It means what exactly you want to achieve.
- In order to make the goal effective it should be specifically, well defined and there is no room for ambiguity.
✔ 2. Measurable
- It means how will you know you have achieved it?
- It makes goals quantifiable so that goals can be easier to track and meet the deadline
✔ 3. Achievable
- It means Are you capable of achieving it?
- Goals should seem agreed upon and attainable. A goal said to be achievable that is supported by previous opportunities and efforts.
✔ 4. Relevant
- It means why are you setting the goal that you are setting?
- The goal must seem worthwhile and it should be aligned to achieve other goals.
✔ 5. Time-bound
- It means when you want to achieve it.
- The goal must have a deadline that includes starting date and an ending date.
Also Read : Smart City Mission in India
► Smart Goals Examples
◉ Examples 1
✔ Example of Smart Goals for Business Organization
Motor vehicle companies want to increase its sale of two-wheelers
- Specific: Increase the sale of electric Scooty/scooter
- Measurable: The goal is sale 2000 electric Scooty/scooters this year
- Attainable: Previous year company sold 950 electric Scooty/scooter
- Relevant: The organization wants to increase its market share so that organization becomes the market leader in the electronic vehicle sector
- Time Bound: By the end of the current financial year
◉ Example 2
✔ Example of Smart Goals for Student
A Student Wants to improve his English communication skill.
- Specific: Student is clear about improving his English communication skill
- Measurable: Student will track his performance through Cambly and Cake apps, and he will daily write a 300-word article and take feedback from his English teacher
- Attainable: Young students are fast learners and can speak two languages if they put effort into learning them. They have the ability to improve my communication skill.
- Relevant: This is my final year of graduation if I want a high package salary at a big IT firm, I should have good communication skills.
- Time Bound: My college placement will start in January so I have 5 months to improve my communication skill.