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Business Smart Goal
- By Elite CIO
Dec 14, 2020
10
Business Smart Goal during pandemic period
Every business, at any stage of its life-cycle, needs defined goals to keep moving. Goals provide direction, motivation, conviction & clear ways to measure your progress. Without having goal is like sailing a ship without radar in the ocean. There are many examples of companies failed in business without having goals.
Goals are SMART- Specific, Measurable, Achievable, Realistic & Time bound.
When company sets goals, it makes its priorities clear for everyone involved in the business. The purpose of Goal Setting is to show employees what they need to focus on the upcoming months and quarters. Goals are driven by purpose in line with the vision. Strategies are made to achieve the goal. The Business Plan is made to accomplish business goals. Business Plan is translated to annual functional objectives and functional objectives are further translated to individual KRA.
In an unforeseen situation like pandemic, don’t fret. The constraints of a pandemic can make it hard to accomplish bigger goals. Make your goals small but meaningful. Rework on strategy.” Set goals based on their strength & weakness. Reassess goals to reflect current realities. Even though setting and tracking goals can be difficult, it is worthwhile to keep your business focused during a difficult time”.