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?
A specific
B achievable
C measurable
D relevant
B achievable
is this right
No, that is not correct. The correct answer is D relevant. The "relevant" component of the SMART framework refers to setting goals that are aligned with the overall objectives and priorities of the business. In this case, the goal of increasing sales by 12 percent may be relevant for the large corporation, but not for the tiny independently owned boutique due to their limited resources.
The SMART framework is a commonly used tool for setting goals in business, which stands for Specific, Measurable, Achievable, Relevant, and Time-bound. In this scenario, the differing component from business to business is the "Achievable" aspect.
In the SMART framework, "Achievable" refers to the feasibility of achieving the goal based on the available resources, capabilities, and conditions. It asks whether the goal can be realistically accomplished.
In the case of the large corporation, it may have ample resources and enough employees to support a 12 percent increase in sales within three months. However, for the tiny independently owned boutique, their limited resources may make it challenging or unachievable for them to reach the same goal.
Therefore, the correct answer is B) Achievable.