Final answer:
The management practice aimed at setting clear business-based targets for service performance revolves around the establishment of SMART goals. These goals are Specific, Measurable, Achievable, Relevant, and Time-bound, supported by detailed Action Plans to facilitate measurable and attainable service performance improvements.
Step-by-step explanation:
The management practice with the goal of setting clear business-based targets for service performance is often associated with establishing SMART goals. The acronym SMART stands for Specific, Measurable, Achievable, Relevant, and Time-bound. These criteria help to ensure that targets are well-defined and attainable within a specified timeframe, providing clear direction and measurable outcomes for service performance improvements.
For example, a SMART goal could be: 'To become an office manager within the next 2-3 years with a salary increase between 10-15%, possibly within the same organization.' This goal is Specific in its role target, Measurable in terms of the salary increase percentage, Achievable by considering the individual's current position and career path, Relevant to their career ambitions, and Time-bound with a 2-3 year target.
Action plans play a crucial role in the journey towards achieving SMART goals. They involve breaking down the goal into smaller, feasible action steps, and identifying a clear target date for each action to track progress. Reflecting on the necessary actions to accomplish a goal makes the process more manageable and provides ongoing motivation towards reaching the established targets.