A large corporation that sells bath products may be able to meet its goal of increasing its sales by 12 percent within three months because they have ample resources and enough employees to do so. However, a tiny independently owned boutique that sells bath products may not be able to reach that same goal because of their limited resources. This is an example of which component of the SMART framework differing in definition from business to business?
(1 point)
Responses
Specific
Specific
Achievable
Achievable
Measurable
Measurable
Relevant
Relevant
The component of the SMART framework that differs in definition from business to business in this example is "achievable." The reason is that what is considered achievable for a large corporation may differ from what is considered achievable for a small independently owned boutique.
To understand this better, let's break down the SMART framework:
1. Specific: The goal of increasing sales by 12 percent within three months is specific, as it defines the desired outcome.
2. Measurable: The goal is also measurable, as the increase in sales can be quantified by a percentage.
3. Achievable: This is where the difference lies. While the goal may be achievable for a large corporation with ample resources and employees, it may not be as attainable for a small boutique with limited resources.
4. Relevant: Increasing sales is relevant to both businesses as it is a common goal for any business.
5. Time-bound: The goal of increasing sales within three months sets a time limit for achieving the desired outcome.
Therefore, the component of the SMART framework that differs in definition is "achievable" because it is dependent on the resources and capabilities of each business.