List of Short-Term Goals for a Business

Save

The best way for a business to profit from short-term goals is to use the SMART goal-setting strategy. This strategy urges the creation of specific, measurable, attainable, realistic and timely goals in order for each goal to come to fruition. The SMART goal-setting formula is applicable to any type of business, but the specific goals that a business sets will be custom for that individual company.

Increasing Profits

  • To simply state "Increase profits" is not a SMART goal, but a business can set a goal to "Increase profits by 150 percent in 2010," which is an attainable goal that is specific, measurable and timely. This goal references a measurable task, making it easier for the business to track whether or not the goal is being achieved, and when it will be achieved based on whatever progress has been made toward that end.

Cutting Costs

  • Cutting costs is a positive short-term goal for a business because it presents the business with ways to lower expenses, thereby improving profits. To make cutting costs into an attainable short-term goal, a business should choose one aspect of its costs at a time and create a measurable improvement and a time frame in which to achieve it. For example, a business might set the goal to "Lower shipping costs by 10 percent this month," and this goal fits into the SMART formula, giving the business a better chance of accomplishing it.

Improving Human Resources

  • Improving human resources and employee relations is a common goal in many businesses, but companies struggle to find ways to measure the results of this goal. This makes it difficult to determine whether or not the goal was achieved. A business can, however, create a measurable goal by determining what types of improvements are desired. For example, a business may set a goal to "Decrease employee turnover by 10 percent in 2010 by improving employee relations," and this creates a goal that fits into the SMART formula.

Improving Efficiency

  • A business may also want to improve efficiency through various means in the business, which can cut down on costs, improve revenues and help the business run more smoothly. A SMART goal to this end may be "Cut down on overtime by 50 percent by implementing training programs for employees in the sales department."

Related Searches

References

  • Photo Credit business charts with buy image by Andrew Brown from Fotolia.com
Promoted By Zergnet

Comments

You May Also Like

  • Why Company Goals Are Important

    Most companies set goals to better compete, be profitable, more productive and define their purpose. Goal setting is important because it allows...

  • What Are Some Examples of Goals for a Business?

    Having clearly defined business goals is crucial to the success of businesses. Goals help you plan your time effectively and ensure you...

  • How to Benefit From Financial Planning

    Planning your finances has many benefits. Whether you do it yourself or you hire a professional, the important thing is to know...

  • How to Make a List of Short-Term Goals

    While long-term life, business, or career planning is important, it is impossible to know how to achieve long-term goals without first identifying...

  • The Short Term Goals of a New Business

    Business owners usually have several key short-term goals or objectives for their new businesses. The key is ensuring that your short-term goals...

  • Short-Term Goals and Objectives

    Short-term objectives are specific activities that must be completed to meet short-term goals. Short-term goals, in turn, help long-term targets. Well-developed strategic...

Related Searches

Check It Out

Are You Really Getting A Deal From Discount Stores?

M
Is DIY in your DNA? Become part of our maker community.
Submit Your Work!