TOPIC 4

What does the S stand for in SMART criteria.

• Specific

• Special

• Standard

• Specimen

What does the R stand for in SMART goals

• Realistic and relevant

• Realistic and real

• Right and relevant

• Real and renown

What does the M in SMART stand for?

• Maximum - there are no limits for goals

• Memorable - a goal must be easily remembered

• Measurable - have numbers as your target

• Mental - you have to be able to think about the goal.

The following statement referring to the reasons why it is important to set objectives EXCEPT...

• Motivate employees to perform

• Keep employees busy with task

• As a strategic guide towards action plan

• Help to assess employee progress in long term

Business aim is a(n) ... goal that help business visualize what they want to achieve in future.

... sums up the aim of business in a compelling way that gives good vibe to stakeholders.

Mission statement is criticize as too vague/unclear without smart criteria to guide operational decision-making.

• True

• False

Mr Lee aims to earn just enough profit to get by all the operation expenses in his repair shop. This situation belongs to which of the following business objectives?

• Self-serving profit

• Profit maximizing

• Profit satisficing

• Market share

Startup companies usually aims to make sure their business could sustain for at least 2 years. The business objectives focus on which of the following element?

• Corporate social responsibility (CSR)

• Market share

• Business growth

• Survival

... indicates that business aims to perform well in order to return more dividend for the investors.

• Increasing reputation

• Increasing shareholders value

• Maximizing customer satisfaction

• Niche market segment