A level Business

• What does SMART stand for in business objectives?

  Specific, Measurable, Achievable, Relevant, Time-bound
• Why should business objectives be specific?

  To clearly state what is to be achieved
• What does it mean for an objective to be measurable?

  It should be capable of being quantified
• What is the importance of an achievable objective?

  It should be realistic given available resources
• What is an example of a business objective?

  Sales rebate
• How does a sales rebate function as a business objective?

  It incentivizes customers to make purchases
• How do SMART objectives contribute to business success?

  They provide clear targets and measurable outcomes
• What does the 'R' in SMART objectives stand for?

  Relevant
• Why is it important for objectives to be relevant?

  They should align with overall business goals
• What does the 'T' in SMART objectives represent?

  Time-bound
• What is the significance of a time-bound objective?

  It sets a deadline for achieving the goal
• How can a business ensure its objectives are SMART?

  By regularly reviewing and adjusting them