Your Research Ojective Must Be "SMART"

A simple acronym used to set objectives is called SMART objectives. SMART stands for:
1. Specific – Objectives should specify what they want to achieve.
2. Measurable – You should be able to measure whether you are meeting the objectives or not.
3. Achievable - Are the objectives you set, achievable and attainable?
4. Realistic – Can you realistically achieve the objectives with the resources you have?
5. Time – When do you want to achieve the set objectives?
Examples of SMART Objectives:

There are a number of business objectives, which an organisation can set:

• Market share objectives: Objectives can be set to achieve a certain level of market share within a specified time. E.g. obtain 3% market share of the mobile phone industry by 2004.
  

• To increase profit: An objective maybe to increase sales 10% from 2003 – 2004.
  

• To survive: The hard times the business is currently in.
  

• To grow: The business may set an objective to grow by 15% year on year for the next five years.
  

• To increase brand awareness over a specified period of time.
  

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