26 Jul Directions Share one of your SMART goals related to professional growth with a brief summary of your plan/steps to reach the goal. Review the courses you have taken during your MB

Unit 8: Overview – Strategy for Business and Life

Introduction

While understanding strategy and the many ways it can be applied is wonderful knowledge to have, whether or not we can apply that knowledge is even more important. Some organizations write detailed strategic plans and are skilled at setting goals, yet they cannot get the tactics in place to make the strategies work for them. As we have seen in some of the previous units’ topics, an organization needs to be able to successfully apply new strategies and be open to change and adapt those strategies when their environment changes.

Similarly, we can do personal strategic planning for our lives as an aid for reaching our goals. Just as athletes have been shown to be more successful when they can see themselves meet their goal, we can also attain higher potential if we have strategies in place to get where we want to go.

,

SMART GOALS

The basic concept of SMART goals is based on the work of Doran (1981). The concept has been modified and reused many times in literature about strategic planning, self-improvement, team processes, etc. “Checking” your goals against the SMART criteria can help develop goals that have a higher potential for success!

SMART =

· Specific – target a specific area for improvement.

What exactly do I want to accomplish?

· Measurable – quantify or at least suggest an indicator of progress.

If a goal is not measurable it is not possible to know whether there is progress toward reaching the goal. A measurable goal is one that indicates when it is accomplished.

· Attainable – can it be reached within reasonable constraints?

The goal should be realistic; not out of reach or so easy that it is meaningless. Are there some attitudes, abilities, skills and financial capacity you need to reach the goals?

· Relevant – does it matter?

Goals that are relevant will tend to generate support from your family, workplace, mentors, and peers. A relevant goal will be worthwhile and will “fit” with other goals.

· Time-related or Time-bound – specify when the result(s) can be achieved.

Goals need target dates. A time-bound goal not only establishes a sense of urgency but also helps define what can be done today, next week, within the next few months or the next year.

Doran, G. T. (1981). There's a S.M.A.R.T. way to write management's goals and

objectives. Management Review, 70 (11): 35–36.

,

Unit 8: Discussion 2

Directions

Share one of your SMART goals related to professional growth with a brief summary of your plan/steps to reach the goal. Review the courses you have taken during your MBA plan and comment on how your plan to reach the goal was enhanced by the knowledge you have gained.