Setting up of ambitious targets, backed by specific and measurable goals, is a key ingredient to establishing the corporate strategy of any company. This said strategy then needs to be communicated throughout the organization, with periodic progress reports displayed. In most organizations, even individuals set their own goals, such has been the hold of this concept. Companies often commit the mistake of setting conservative targets, just to ensure that employees reach their goals. Critical interdependence across silos is necessary, as it enables course corrections along the way. More than SMART, it is FAST which is more trending nowadays. While SMART stands for Specific, Measurable, Achievable, Realistic and Time- bound, FAST goes for Frequent, Ambitious, Specific and Transparent.

Source:https://sloanreview.mit.edu/article/with-goals-fast-beats-smart/

Uploaded Date:27 February 2019