Final answer:
A measurable goal that allows a company to determine if it is being successful is often referred to as a SMART goal. SMART is an acronym that stands for Specific, Measurable, Achievable, Relevant, and Time-bound.
Step-by-step explanation:
A measurable goal that allows a company to determine if it is being successful is often referred to as a SMART goal. SMART is an acronym that stands for Specific, Measurable, Achievable, Relevant, and Time-bound.
Specific: The goal should be clear and well-defined, stating exactly what is expected. It should not be too broad or general.
Measurable: The goal should be quantifiable and have concrete, observable progress that can be measured. This will allow the company to track their progress and determine if they are successfully achieving the goal.
Achievable: The goal should be realistic and attainable. It should be possible to overcome any barriers or challenges that may arise.
Relevant: The goal should be relevant and support the company's overall objectives and other goals. It should make sense in the context of the company's mission and vision.
Time-bound: The goal should have a specific target date or deadline. This helps create a sense of urgency and allows the company to evaluate their progress within a defined timeframe.