Page 3: SMART objectives
Businesses need to set out their objectives in ways that are clear and easy to measure. Using SMART objectives makes it easy to assess whether targets have been met.
- Specific relating to clearly identifiable targets, for example, to be the “partner of choice” for governments.
- Measurable set out in ways that can be measured. Examples include cost reductions, waste reductions or energy efficiency targets.
- Achievable objectives should not involve unrealistic targets. They should not be set too low either. Anglo American believes that making cost savings of $1 billion by 2011 is an ambitious yet achievable target.
- Relevant the objectives should relate to key business or corporate aims. For Anglo American this means using resources more sustainably.
- Time-framed giving a clear deadline or end point by which the objective needs to have been achieved.
Examples of Anglo American”s SMART objectives can be analysed.