Loose-Leaf Edition for Management
Loose-Leaf Edition for Management
7th Edition
ISBN: 9780077720551
Author: Angelo Kinicki, Brian K. Williams
Publisher: McGraw-Hill Education
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Chapter 16, Problem 3MIA
Summary Introduction

To determine:

The SMART goals for each category of the balanced scorecard

Introduction:

Balances Scorecard: Balanced scorecard is a management tool or report which is used to track the employee’s performance A Balanced scorecard has following four perspectives:

  1. Financial perspective
  2. Customer perspective
  3. Internal perspective
  4. Process perspective

SMART goals: A smart goal means the goal which is Specific, Measurable, Attainable, Results-oriented, and has Target dates. Each characteristic is explained as follows:

  • Specific: A goal should be specific and not ambiguous.
  • Measurable: A goal should ne measurable in quantity to the extent possible.
  • Attainable: The gold should be possible to achieve, it should not be an impossible goal.
  • Result Oriented: The achievement of goal should bring some result, in other words the goal should be meaningful.
  • Target date: A goal should have a deadline to achieve.

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