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CS Professional · Strategic Management and Corporate Finance · Introduction to Strategic Management

Which of the following is the best-formulated objective for a firm, in line with the SMART approach?

The best objective is increasing market share from 12% to 15% in the southern region by 31 March 2027. It is specific, measurable and time-bound, whereas the other statements are vague aspirations without quantified targets or deadlines, so they cannot be used to measure performance.

  1. ABecome a respected name in the industry
  2. BTry to improve profitability whenever possible
  3. CIncrease market share from 12% to 15% in the southern region by 31 March 2027Correct
  4. DBe the best employer in the country eventually

Explanation

A SMART objective is specific, measurable, achievable, relevant and time-bound. The market share option gives a starting point, a target, a place and a deadline. The others are vague, lack numbers and have no time limit.

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