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Enterprise Marketing — Entrepreneurship STD 12 Commerce — Question

CBSE BoardEnglish MediumSTD 12 CommerceEntrepreneurshipEnterprise Marketing3 Marks
Question
"Establishment of short or long term objectives and incorporating deadlines in quantifiable measures requires some rules." After identifying the concept described in the above lines explain its rules.
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Answer

Rules for goal setting:
  1. Business goals need to be relevant: To be relevant, a business goal has to possess a clear advantage or benefit to the specific business.
  2. Business goals need to be actionable: Business goals that are too vague or abstract should not be chosen. Goals without action plans are just pretty words.
  3. Business goals need to be achievable stretches: The purpose of business goals is to move the businesses forward. So we have to position the bar very carefully, if the bar is set too high, we set ourselves up for failure.

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