“If every employee hits their goals, will your organization execute its strategy?”
That was the key question in today’s webinar by Donald Sull from MIT’s Sloan School of Management. It’s an incredible insight, as collectively we’ve all embraced goal-setting in the 100 years or so since General Motors popularized the idea.
But does it work? Is there enough transparency corporately to ensure that each contributors goals are in line with the overall strategy, and that if all the individual goals are met that the executive strategy would actually be executed?
Goals have been SMART (Specific, Measurable, Attainable, Realistic, Timely). Dr Sull et. al. present FAST (Frequently Discussed, Ambitious, Specific, Transparent). FAST goals seem more suited to today’s fast-paced high-tech world. They provide the agility needed for organizations to thrive.
Specific and Measurable are redundant, and together lead to Specific.
Attainable and Realistic are redundant, and perhaps wrong, and are replaced with Ambitious.
Timely is modified slightly to become Frequently Discussed, allowing the freedom for the goals to evolve as the needs evolve.
Transparent is missing from SMART, and helps to ensure individual alignment with the big picture.
FAST (Frequently discussed, Ambitious, Specific, Transparent) deserves more attention as businesses struggle to keep pace with innovation.
Check out more at https://sloanreview.mit.edu/article/with-goals-fast-beats-smart/ and http://www.donsull.com/