S.M.A.R.T. (or 'SMART') goals is a popular system used to create goals by many companies and organizations in order to achieve success. This post will be about the similarities and differences. If you're thinking of moving from SMART goals to OKRs, after reading this post, you'll have a good idea of what to begin with.
So what is the difference between an objective and a goal?
Actually, it is the most frequently asked question by people who are about to get into the goal-setting world. The main difference between goals and objectives is that objectives are precise actions or measurable steps individuals or groups take to move closer to a goal. They are nothing but specific targets which typically have a timeline or a time-bound schedule for completion. This is how we identify the difference between a goal and an objective.
What exactly are SMART goals?
This is the most widespread question among people who would like to start setting and managing their goals. A set of criteria for setting and creating goals, attributed to the framework Management By Objectives (MBO) are called SMART goals.
Unlike other frameworks which cover performance management, organizational hierarchy and strategy creation, a SMART goal is a simple structure that explains how to measure and create progress towards one goal or another. In this sense, the SMART objective criteria and an OKR can be compared as two alternate ways to structure a goal.
Specific, Measurable, Achievable, Relevant and Time-bound - these are five things that SMART goals should correspond to. If we look at each of the SMART criteria individually, we can see the details behind setting SMART goals. Setting SMART goals means you are able to use your time and resources productively, focus your efforts and clarify your ideas so in order to increase your chances of achieving what you want in life.
A SMART goal must be specific by providing a clear description of what needs to be achieved. It has to be clear for everyone contributing to it.
We have already found out what the difference is between a goal and an objective. Now let's talk about what they have in common.
Some examplesNow, when we know exactly how to write smart goal so that it contains all the SMART criteria and can be made in a way it will be most efficient for your company, I am happy to share some examples of smart goals being used at work :
- Be prepared for a new product launch by developing launch checklists of tasks, due-dates, activities and driving approval by all stakeholders by October the 1st.
- Ensure that 95% of the team members have completed training on the newest inventory management software by the beginning of the third quarter.
What is a S.M.A.R.T. Goal for development examples?
Improve my new product understanding by drafting, creating and delivering 3 projects using our product till the end of the quarter.
Smart personal goals example
To lose 4lb by the end of September by cutting down on junk food and training two times a week in order to cure my lower back pain and constant fatigueue.
Now you know what the similarities and differences between SMART goals and OKR are, as well as the difference between goals and objectives. To sum up all of the above, I can say that all the modern companies use these frameworks to allow their businesses to constantly move forward by focusing on their main goals.
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