Aims = The overall goal/vision of the business e.g. “To become the
fastest growing Ice Cream brand in the UK”
Objectives = The strategies that you use to achieve the overall Aim
, Aims and Objectives should be SMART
Specific - Be precise about what you are trying to achieve, statements
such as “increase sales” is not enough. “Increasing the sales of Mars Bars
by 15%” would be a specific objective.
Measurable - Using percentages or sales figures makes the objective
measurable, so the business can clearly see if they have been successful.
Achievable - Having achievable goals makes setting targets worthwhile,
setting an unachievable goal could damage staff morale. E.g. Setting an
objective of “earn a sales turnover of £1 Billion” for a small cafe would not
be an achievable goal.
Realistic - A realistic goal has to be within the capability of the business.
E.g. “develop 10 new products in six months” may not be a realistic goal for
a small business.
Time-Bound - Placing a time limit on your objective keeps employees
focused on the task and ensures the objective is delivered within a
reasonable timeframe e.g. “Increase our Instagram followers by 50,000
within the next six months”
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