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SMART Objectives

Every company needs to set up objectives and goals for it or for the products or
services when they are launching. It depends on what a company wants to achieve.

Setting up goals and objectives are very important for an organization. It focuses a
company on specific aims over a specific period of time and it can also motivate
staff to meet the objectives and goals.

A simple acronym used to set objectives is called SMART objectives.

SMART stands for:

1. Specific – Objectives should be specifying what they want to achieve.


2. Measurable – It should have the ability to measure whether the company is
meeting the objectives or not.
3. Achievable - Are the objectives that company set, achievable and attainable?
4. Realistic – Can an organization realistically achieve the objectives with the
resources that it has?
5. Time – When does the company want to achieve the set objectives?

Examples of SMART Objectives:

There are a number of business objectives, which an organization can set:

• Market share objectives: Objectives can be set to achieve a certain level


of market share within a specified time. E.g. obtain 4% market share of the
mobile phone industry by 2011.

• To increase profit: An objective maybe to increase sales 10% from 2010 –


2011.
• To survive: Surviving the hard times the business is currently in.

• To grow: The business may set an objective to grow by 15% year on year for
the next three years.
• Promotion: To increase brand awareness over a specified period of time.

THE KISS PRINCIPLE:

The traditional expansion of this acronym is Keep It Simple and Straightforward


(sometime it is- Keep It Simple and Short). One of the all time famous acronyms,
and so true. It’s an aim and reminder to maintain simplicity in communications,
design, philosophy, relationships, decision-making, meetings, management and life
generally. Business organizations apply and promote KISS principle to any
condition to determine unnecessary complication, excuses, bureaucracy, red-tape
and management problems, and to encourage no-nonsense communications,
integrity, truth, beauty, and honesty in the organization.

Following are the main KISS principles:

• Solve the most important problem (object relational impedance mismatch) in the simplest
possible way

• Don’t make the solution more complex than the original problem.

• Be completely non-intrusive to the object model.

• Give full flexibility in object modeling.

• Make everything easy to define, modify, comprehend and share the mapping specification.

• Avoid source code generation for data access.

• Keep the mapping engine as much stateless as possible.

• No mind reading.
• Avoid creating a new query language.

• Expose small number of simple and consistent APIs.

• Absorb database-specific dependencies in the internal implementation

• Optimize data access logic automatically.

• Keep the internal implementation simple, extensible and efficient.

• Offer intuitive tools to deal with object models, database schema and the mapping.

• Provide a straight forward installer, lucid documentation and readymade examples.

Summary:

This white paper has identified and discussed the main principles of simplicity (KISS)
that firms follow in designing and developing the organizations. Simplicity does not
mean not providing essential features. Simplicity does not mean being
unsophisticated. Simplicity is not a position of compromise rather than it’s a
position of strengths. Penchant for simplicity often leads to elegance, robustness,
and ease-of-use. The KISS principles above have explained how it makes an
organization fast, flexible, versatile, robust and lightweight.

Swot analysis

SWOT analysis method and examples

The SWOT analysis is an extremely useful tool for understanding and decision-
making for all sorts of situations in business and organizations. SWOT is an acronym
for Strengths, Weaknesses, Opportunities, and Threats. Information about the
origins and inventors of SWOT analysis is below. The SWOT analysis headings
provide a good framework for reviewing strategy, position and direction of a
company or business proposition, or any other idea. Completing a SWOT analysis is
very simple, and is a good subject for workshop sessions. SWOT analysis also works
well in brainstorming meetings.

Swot analysis example

This SWOT analysis example is based on an imaginary situation. The scenario is


based on a business-to-business manufacturing company, who historically rely on
distributors to take their products to the end user market. The opportunity, and
therefore the subject for the SWOT analysis, is for the manufacturer to create a new
company of its own to distribute its products direct to certain end-user sectors,
which are not being covered or developed by its normal distributors.

Subject of SWOT analysis example: the creation of own distributor company to


access new end-user sectors not currently being developed.

Strengths
Weaknesses
• End-user sales control and
direction.
• Customer lists not tested.
• Right products, quality and
• Some gaps in range for certain
reliability.
sectors.
• Superior product performance vs.
• We would be a small player.
competitors.
• No direct marketing experience.
• Better product life and durability.
• We cannot supply end-users
• Spare manufacturing capacity.
abroad.
• Some staff has experience of end-
• Need more sales people.
user sector.
• Limited budget.
• Have customer lists.
• No pilot or trial done yet.
• Direct delivery capability.
• Don't have a detailed plan yet.
• Product innovations ongoing.
• Delivery-staff need training.
• Can serve from existing sites.
• Customer service staff needs
• Products have required
training.
accreditations.
• Processes and systems, etc
• Processes and IT should cope.
• Management cover insufficient.
• Management is committed and
confident.

Opportunities Threats

• Could develop new products. • Legislation could impact.


• Local competitors have poor • Environmental effects would favor
products. larger competitors.
• Profit margins will be good. • Existing core business distribution
• End-users respond to new ideas. risk.
• Could extend to overseas. • Market demand very seasonal.
• New specialist applications. • Retention of key staff critical.
• Can surprise competitors. • Could distract from core business.
• Possible negative publicity.
• Support core business economies.
• Vulnerable to reactive attack by
• Could seek better supplier deals.
major competitors.