Smart Goals 91

 

SMART GO GOALS 1

Smart Goals

SMART GOALS

 

SMART GO GOALS 2 1) Starbucks: “In fiscal 2006, we plan to open approximately 1,800 net new stores

globally”

This objective is further explained, “In “In the United States, Starbucks plans to open approximately 700 Company-operated locations and 600 licensed locations. In International markets, Starbucks  plans to open approximately 150 Company-operated stores and 350 licensed stores.” 1

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S–  The above goal is specific in terms of number of  new stores (what) (How to write

SMART objectives and SMARTer objectives, 2010) they want to achieve. Then the place is also identified “globally” , (where) they want to operate. Time frame is also mentioned i.e. year 2006. This short term goal is interrelated to the long term goal of Starbucks, and  based upon the culture, value and mission of the company. company.2 •

M- This goal is quantifiable and can be measured easily. The company has mentioned the

target year to attain this goal. Then the numbers of stores are divided into local and international markets. In the year end, the company can compare their achievements against the goal (number of stores) and the figures are motivational for the employees. •

A–  Starbucks is one of the blue-chip companies in US, and it is growing exponentially

yearr by year. yea year. So attain attaining ing this this goal is not difficul difficultt for this giant company. company. As the company has specified that they want to open more stores in US as compared to the international market, it shows that it is easier to open stores in US, because of the brand recognition and the demand of Starbucks coffee.

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http://www.csrwire.com/press_releases/24 http://ww w.csrwire.com/press_releases/24563-Starbucks-Unpr 563-Starbucks-Unprecedented-Performance-Con ecedented-Performance-Continues-into-Fiscal-2 tinues-into-Fiscal-2006-Commit 006-Commitment-to-thement-to-the-

Starbucks-Experience-Communities-and-Envi Starbucks-Experience-C ommunities-and-Environment-Propels-C ronment-Propels-Company-s-Growth ompany-s-Growth 2

http://www.csrwire.com/press_releases/24563-Starbucks-Unp http://www.csrwire.com/press_releases/2 4563-Starbucks-Unprecedented-Performance-Con recedented-Performance-Continues-into-Fiscal tinues-into-Fiscal-2006-Commit -2006-Commitment-to-thement-to-theStarbucks-Experience-Communities-and-Envi Starbucks-Experience-C ommunities-and-Environment-Propels-C ronment-Propels-Company-s-Growth ompany-s-Growth

 

SMART GO GOALS 3

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R- The goal is realistic to be achieved, because the company has mentioned specific

numbe num bers rs of stor stores es to be op opene ened. d. As US is a bi bigg gger er co count untry ry an and d due to it itss br bran and d recognition in US, they can swiftly expand their business in different cities and towns. About globally, globally, the company has mentioned mentioned lower numbers, numbers, but very real numbers numbers that could be easier for them to be achieved in a year. •

T–  Year 2006 shows that it is time based and one of the senses can experience the

launching or expansion of new stores.

2) Walgreen Walgreens: s: “Second is to hire a significant significant number of people with disabiliti disabilities es in our

South Carolina distribution center, scheduled to open in 2007, and achieve 20% productivity gains there.” •

S–  The above is specific that the company wants to target disabled people (who). The

 place is targeted South Carolina distribution centre (where). Year is also mentioned i.e. 2007 (when) and 20% produc productivit tivity y gains need to be achieved (whi (which). ch). In order to achieve its goal of hiring a workforce that is at least one-third disabled (267 of its 3

 proposed 800 employees). •

M- This goal is quantifiable and can be measured easily. The company has mentioned the

target year to attain this goal. Another main point is that the company wants to achieve 20% productivity gain to measure the result of hiring disabled people, and there is something motivational factor behind it.

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http://www.bedayaonline.org http://ww w.bedayaonline.org/PDFs/People%20Styl /PDFs/People%20Styles/CDO_Insights es/CDO_Insights_article_publish _article_published.pdf  ed.pdf 

 

SMART GO GOALS 4

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A–  The company has not clearly mentioned the number of people in this statement, but

has mentioned that significant number of disabled people, but in most of the reports they have mentioned that they want to at least hire one-third of their proposed employees. •

R- 20% productivity gains is a real number figure that is aligned with the mission of the

company to a mission to hire, engage, engag e, and support people with disabilities. •

a nd the 20% productivity gains seem to be trackable. T– Year 2007 is time based and

3) UPS: “65% of drivers will have access to the new technology (implemented in 2004)

by the end of 2005 and in 2005, we will increase operating profit in each of our 3 key businesses: U.S. domestic, international, and supply chain.”

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S–   “65% of drivers” is the specific figure that needs to be achieved and they will have

access to the new technology (what) only that would be by the end of 2005 (when). Then 3 areas (where) are focused, where operating profit (what) would be increased. •

M- This goal can be measured by the end of the year 2005 and the operating profit needs

to be increased only in 3 key businesses. 65% of the drivers sound to be motivating. •

companies in US, and it has implemented implemented new technology A–  UPS is one of the biggest companies in 2004, so it would be attainable to give access to 65% of the drivers within a year, and in 3 businesses, they want to increase operating profit firstly.

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R- 3 business areas are relevant as these are the core areas of the company. Secondly,

65% is result result-or -orien iented ted becaus becausee they they are the major major employ employees ees that that delive deliverr the final final  p pro roduc ducts ts to the the cu cust stom omer ers, s, an and d it is re real alis isti ticc in te term rmss of th thee compan company’ y’ss mi miss ssio ion n statement.

 

SMART GO GOALS 5

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T – 65% of drivers would have access to the new technology can be seen in the growth of 

the company, and the statement mentions the specific year 2005 to achieve the results.

4) Wri Wrigl gley’ ey’s: s: “In 2005, 2005, the co comp mpan any y wi will ll decre decrease ase the long-t long-term erm ra rate te of re retur turn n

assumption for the assets of its U.S. (pension) plans from 8.75 % to 8.5%.”

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S–  The company is specific about the U.S. pension plans (what) to be worked upon.

Then the year 2005 (when) is mentioned in which this goal has to be achieved. The company is clear about the rate of return (what) that needs to be decreased from 8.75% to 8.5%. (which) •

M- The goal is measureable in terms of the decrease in rate from 8.75% to 8.5%.

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return can be decreased decreased by 0.25% and is action-ori action-oriented ented (that it could be A–  The rate of return decreased easily)

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R- The company has set a realistic % to be decreased in a year.

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T–  Mentioning the year 2005 is time specific and results would be tangible as the rate

would be decreased.

5) Ha Halli llibur burto ton: n: “We estim estimate ate that that 74 74% % of the the backl backlog og ex exist isting ing on 12/ 12/31 31 wi will ll be

eliminated the following fiscal year.”

 

SMART GO GOALS 6

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S–  The statement is targeting about the backlog (what), and then the specific date is

mentioned. The company wants to decrease 74% (which) of the accumulated unfinished work in the next year (when). •

M- The figure 74% is motivational to be achieved and its results can be measured in the

following fiscal year. •

action-or -orien iented ted figure figure,, because because the compan company y is focusi focusing ng to increa increase se the A–  74% is action efficiency in work and it would be more effective for the company, the more it would decrease the waiting time of any work to be done.

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R- The company has set a realistic % as it is interrelated to the efficiency of the work.

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T–  The following fiscal year shows the time framed and the results can be traceable in

the whole year.

6) Martha Stewart Living Omnimedia: “In 2004 we will discontinue the Catalog for

Living and its online product options, and sell remaining inventory in early fiscal 2005.”

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S–  The goal is specifically talking about catalog for  living and online products (what)

that would be discontinued in the year 2004 (when), and sell remaining inventory (which) in early fiscal year (when). •

M- Here remaining inventory is measurable. The numbers are not specified because it

could be revealed at the yearend only.

 

SMART GO GOALS 7

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A–  In the early fiscal year is action-oriented, because the remaining stock needs to be

sold out and as the company is discontinuing the product line, so it would be attainable to sell the left over stock. •

R- Early fiscal year 2005 is realistic time frame which consists 3-4 months to sell the

 product. •

T– 2004 and early fiscal year 2005 are time framed and the results would be visible if the

remaining stock is sold in the first quarter or not.

REFERENCES: •

Rapidbi, June 28th 2010, “How to write SMART objectives and SMARTer objectives”, Available from http://www.rapidbi.com/created/WriteSMARTobjectives.html> [September, 28 2010]

 

SMART GO GOALS 8

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CDOInsights, December 2007, “ The Search for Talent: Why Hireing and Retaining”, Availablefrom[September, >[September, 28 2010]