Short Term Objectives Flashcards, test questions and answers

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What is Short Term Objectives?

A short-term objective is a goal that a person or organization sets out to achieve in the near future, typically within six months to one year. These goals are used by businesses and individuals to help focus efforts, prioritize tasks and set achievable expectations. Short-term objectives should be specific and challenging, but realistically attainable with effort and dedication. For individuals, having short-term objectives can help motivate them to stay focused on their larger goals while also allowing them to celebrate smaller successes along the way. For example, if a person’s long-term goal is to increase their annual income by twenty percent in five years, they may set several short-term objectives leading up to that such as increasing their monthly savings rate by two percent over the next six months or applying for three new jobs each month until they find one that meets their desired salary level. Businesses often utilize short-term objectives as part of strategic planning processes that involve long-term visioning and goal setting. A company may use these goals to ensure its employees are making progress toward reaching certain milestones that are crucial for achieving overall success. For instance, a business might have an overarching mission of becoming market leader in its industry within five years; it could then break this down into shorter term objectives such as launching two new products annually or achieving 20% growth in customer base every year for the first three years. Short-term objectives can be great motivators when it comes to working towards bigger ambitions whether at an individual or organizational level since they provide tangible goals along the journey of success. When setting these targets it’s important not only to consider what resources will be required but also how progress will be measured so as not only meet expectations but continue striving forward with determination.