Ms. Paschitti

What is your definition of success? bcitech.org/lpaschitti 2

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GOAL SETTING

Objective  To understand the importance of setting goals consistent with success by always considering the opportunity cost in your choices to ensure that you are making the best choice. 5

Students Will…  Define opportunity cost and apply the concept of making decisions.  Define delayed and instant gratification, and how each influences current and future choices and opportunities.  Correlate how the choices they make now affect future opportunities. 6

Key Concepts  Goals  Objectives  Choice  Decision Making  Opportunity Cost 7

Introduction  We all have goals we want to achieve, but we often do not reach them.  How many have made a New Year’s resolution but failed to keep it?  Why?  lack of goals and planning 8

Goals  What is a goal?  Something you would like to achieve.  What is the purpose of setting goals?  Goals give you direction and keep you focused on where you want to end up.  Setting goals gives you a long-term vision and short-term motivation.  It focuses your acquisition of knowledge, and helps you to organize your time and your resources so that you can make the very most of your life. 9

In Your Notes…  What are some things you hope to achieve in the next few weeks or months?  What are some things you hope to achieve in the next few years? 10

Types of Goals  Short-Term:  Goals that can be accomplished in the near future (within a few weeks or months)  Long-Term:  Goals that are more far reaching and take longer to achieve (a year or more) 11

Realistic vs. Unrealistic Goals  Setting unrealistic goals can lead to feelings of failure, lowered self-image, and lowered self- esteem.  What makes goals unrealistic?  Untimely  Requiring unavailable resources  Too generally written 12

Creating SMART Goals What Are SMART Goals?  SMART Goals are one of the most popular goal setting methods because they are effective  SMART is an acronym to guide people when they set their objectives and goals  By setting a goal which incorporates the following five characteristics, you are much more likely to actualize the outcome… 13

Creating SMART Goals  Each letter in SMART refers to a different criterion for judging objectives:  Specific  Measurable  Attainable  Relevant  Time-bound 14

Creating SMART Goals  Specific  The goal has to be specific, clearly defining what exactly needs to be accomplished.  A specific goal will usually answer the five “W” questions: What: What do I want to accomplish? Why: Specific reasons, purpose or benefits of accomplishing the goal Who: Who is involved? Where: Identify a location Which: Identify requirements and constraints 15

Creating SMART Goals  Measurable goals are just that – measured  Setting criteria to measure progress helps you achieve what you want. It lets you reach your goals and experience success  A measurable goal will usually answer questions such as: How Much? How Many? How will I know when I have accomplished this goal? 16

Creating SMART Goals  Achievable  Set yourself up for success! Don’t make it too hard, but a challenge is always more satisfying than an easy task.  Useful questions to ask yourself: How can the goal be accomplished? What do I need to accomplish this goal? (list items, people, programs, etc.) 17

Creating SMART Goals  Realistic:  Will this goal that you are setting REALLY make a difference?  Goals need to be relevant to the situation at hand.  A goal must be something that you are willing and able to work towards.  Good questions for relevancy are:  Why is this important to me?  Can this be accomplished? 18

Creating SMART Goals  Time-bound  Goals should include realistic timeframes for achievement.  Commitment to a deadline helps you focus your efforts, and creates a sense of urgency and importance.  It helps in overcoming the interruptions that invariably happen in everyday life.  Setting a deadline also encourages you to unconsciously find a way to get the work done.  A time-bound goal will usually answer the question: When? What can I do 5 months from now? What can I do 5 weeks from now? What can I do today? 19

Using the SMART System in the Real World  Take the example of a business goal to bring in more revenue for a company. Company goals are:  Sell more products  Get new clients  Work harder to build accounts 20

Business SMART Goal  Create three new sales packages by Wednesday to present to XYZ client to get additional product sales.  Instead of going for coffee at 10, use the time to call one new prospective client each day for the next month.  Analyze the existing accounts list to determine which 20% of the clients are bringing 80% of the revenues for the firm. 21

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Resources  Ms. Paschitti Website –  Poll -  Muffinmilk Website