SMART Objectives: Key Necessity for Company Success - Essay Sample

Introduction

Companies require well sought SMART objectives before the integration of important components needed to commence organizational operation. The SMART objective is chiefly the starting point of Plaeo Hero's marketing plan. According to Yemm (2012), SMART objectives involve a set of goals that direct a company on a specific field that is quantifiable, achievable, and realistic within a certain time. SMART goals, therefore, provide a clear focus on the efforts of every company that needs to implement the specific, measurable, achievable, realistic, and time-based components (Lawler & Bilson, 2009). The specific component in the SMART objectives involves certain individuals, the exact accomplishments, the location, the timeframe, necessities, and reasons for performing specific tasks. The measurable item involves the establishment of methods that will gauge the progress of the daily tasks (Bogue, 2005). The A in SMART refers to achievable, whereby the company should identify its goals and then evaluate the attainability of the objectives. The next element explains the fact that a company should be realistic in setting the goals; not too high but where the organization would achieve its potential with the available resources. The last item, time, is an important factor that a company should consider when setting goals since it has to work within a specific time-frame.

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Paleo Hero boasts of its natural ingredients blended in their daily products. The products of the company are considered of high quality with proof from the website reviews. The delivery of quality products with natural ingredients is one of the strengths observed by the company. However, the organization is not well known to the locals and clients from various regions. The reason is that the company has failed to invest enough resources towards proper marketing strategies.

The SMART objectives explain the need for a company having realistic goals. One of the weaknesses identified in the SWOT analysis is overpricing. This might be a disadvantage since the company might have set an unrealistic price for its products. Additionally, the company should consider the location component of the SMART tool which involves evaluation of the daily progress of the company to increase the number of distribution channels. This would lead to an increase in the daily sales of the company, hence, maximizing its profits.

The first objective Paleo Hero should work towards achieving is its promotion strategies. The company has not reached most of its desired targets. Therefore, the organization should consider including occasional discounts on the daily menu. Also, the company ought to hire a popular celebrity that would be better marketing the products on social media platforms.

The second objective Paleo Hero should consider implementing is on ways to beat the potential competitors. The company has more advantages over its competitors since the products provided are healthy conscious. With proper marketing strategies, the organization would attract more clientele than other companies providing the same products.

References

Bogue, R. L. (2005). Use SMART goals to launch management by objectives plan. Retrieved November, 15, 2010.

Lawler, J., & Bilson, A. (2009). Social work management and leadership: Managing complexity with creativity. Routledge.

Yemm, G. (2012). FT essential guide to leading your team: How to set goals, measure performance and reward talent. Pearson UK.