Colorado Technical University: SMART Goal Development Project, MKTG320

This assignment focuses on the development and implementation of SMART goals within the context of advertising and public relations for a bank. The student analyzes the bank's strategic goals and creates advertising and public relations objectives using the SMART methodology (Specific, Measurable, Achievable, Relevant, and Time-bound). The project demonstrates how these objectives align with organizational goals, such as increasing profit and creating a competitive advantage. Furthermore, the assignment discusses the importance of using specific objectives to assess measurement, accountability, and return on investment (ROI). The student provides detailed explanations and examples, emphasizing the relevance of digital platforms and effective advertising strategies to achieve these goals. The document also includes references to support the analysis and recommendations.

Running head: SMART GOAL DEVELOPMENT
SMART GOAL DEVELOPMENT
Name of the Student
Name of the University
Author note

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SMART GOAL DEVELOPMENT
Table of Contents
Background......................................................................................................................................2
Part 1................................................................................................................................................2
Part 2................................................................................................................................................4
Part 3................................................................................................................................................5
References........................................................................................................................................7

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SMART GOAL DEVELOPMENT
Background
Banks have been facing severe competition in the operational process. This incurs
increasing communication and hence wise this will be ensuring that the policies that are designed
by the bank reaches the mass and there is an increase in the client base. This report will be
discussing about the implementation of SMART technology in the operational process. Proper
alignment is also well demonstrated in the report as well.
Part 1
Create advertising and public relations objectives that align to each one of the bank’s strat
egic goals. Be sure to use the specific, measurable, achievable, relevant, and time bound
(SMART) methodology.
S (Specific): It have been seen that for performing proper advertisement will be difficult
in this case. It have been seen that the client base of the chosen bank is not much technologically
advanced and hence wise they the advertising process must not be virtual in nature. Appointing
agents who will be visiting the clients and hence wise making them aware of the new policies
that are created will be conveyed (Reeves & Fuller 2018). This conveying of the policy ensures
that the clients will be aware of the new policies. These agents will also be visiting potential
clients and hence wise acquiring new clients will be one of the main aspect of advertisement that
will be considered. This will ensure that there will be an increase in reaching out to the audience
and hence wise it can be expected that there will be an increase in 50% of the audience base.
This is one of the main reason that there will be an increase in investment. 15% increase in
investment interest amount can be retrieved in the process as well.

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M (Measurable): The measurable unit that can be decided in the operational process of
the chosen bank scenario is the profit that it makes after completion of transaction. It have been
seen that the client base that it has does not provide much profit as the loans that are taken by the
clients are not of much amount. The interest that is earned in the process is also less and hence
the revenue earned from the process have been low. The only way to increase the profitability of
the operational process is by reducing the cost that is incurred in the operational process. This
have been a major aspect that is to be considered. Again if the client base can be increased, the
issue of lacking profitability can be increased. This is one of the major aspect that will be leading
to increase in profitability and higher revenue can be collected.
A (Achievable): The achievable aspect that is considered in this case is that the clients
that are present is needed to be retained. Another major aspect that is considered is that gaining
hold of new clients also acts important. This is one of the major reason that processing of the
business management as per desired operational plan acts important. This might be affecting the
business revenue earning process and hence wise this process is completely achievable.
Reaching out to a massive audience have been one of the major goal that can be achieved
(Bjerke & Renger 2017). Increasing the revenue collected is not completely achievable however
reaching out to the mass is achievable.
R (Relevant): In today’s society implementation of digital platform for performing
banking process have been one of the major relevant strategy that is needed to be implemented.
This implementation of the digital platform will be increasing the ease in operation ability and
hence there will be an increase in client base. Manual transaction have been getting outdated and
to save time that is spent usage of digital platform can be made and hence this is considered to be

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one of the relevant aspect that can be considered. This acts as one of the relevant shift that is
expected in the process.
T (Timely): The strategies that are considered in the process needs to have a proper
assessment of the time in which completion of the task is a must. This is one of the major aspect
that is considered in the process (Moore 2017). It can be stated that in case the entire work is not
completed within the stated deadline the innovations and strategies that are considered in the
process will be having a change in the process.
Part 2
Demonstrate how each objective aligns directly to an organizational goal.
The organization goals that are considered in the process are namely increasing the
overall profit and hence wise this will be increasing the return of investment on each of the
clients. Creation of competitive advantage with the help of e commerce initiative have been one
of the major goal. Proper identifying as well as penetrating a profitable market segment have
been considered as a major aspect that will be benefitting the operational process. Effective
advertising have been one of the major strategic goal that can be considered important
(Daudkhane 2017). These are the long term strategic goals that are to be considered in the
operational process. This is the main reason that aligning the entire process with the objectives
and the smart objectives that have been framed needs to be properly aligned. This alignment of
the developed strategies with business strategic goals have been one of the major aspect that will
be creating a change in the operational process.
As per SMART strategy, proper development of the policies that are developed will be
conveyed in a manner other than virtual manner and hence this will ensure that proper

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SMART GOAL DEVELOPMENT
management of the policies that will be framed will be well conveyed and hence wise this will be
having a proper change in the business management process. There is a proper alignment in the
strategy development of the as profit and ROI will be considered (Giol 2018).
It have been considered that the development in the field of digital platform have been
already proposed and this will be benefitting the processing of the e commerce initiative. This is
one of the major aspect that is to be considered. With the help of introduction of e commerce, the
main aspect that is considered is that reaching out to the mass will be beneficial.
With increase in employing of agents who will be preaching the policies, the objective of
a new profitable market segment will be well known. These are the aspects that will be
performed and hence it can be stated that there is high alignment in the operational processing.
It can be stated that with the help of promoting 2, 5 and 10 years CDs, there can be
increase depositors by 40% and hence wise profits will be rising by 25%.
The entire operational process is divided in 5 phases. The phases are allotted with
different works and hence wise this ensures that there will be having a better understanding of
the business process. Identifying of the target market have been one of the major aspect. Creation
of branding have been yet another aspect that is to be considered. Creation of public relation
piece have been one of the major aspect that is considered. These steps are highly aligned with
the objectives and strategic goals of the organization.
Part 3
Discuss the importance of using specific objectives to meet the organizational goals from m
easurement, accountability, and return on investment perspectives.

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SMART GOAL DEVELOPMENT
Measurement: With the help of specific objectives better and precise understanding of the
business goals are performed. This is one of the major reason that proper management of the
profitability can be measured.
Accountability: with the help of specific objective setting accountability of the entire
process increases. This is one of the major reason that functional process will be having a better
management of the accountability. With the help of the preciseness and goals supported with
proper validating point, the entire operational process can be maintained (Ford 2017).
Return of Investment: With the help of specific strategy, the main advantage that is
received is that the investment that will be required for incorporating the e commerce platform.
Proper calculates are also performed in order to understand the break even point and even this
helps in understanding the time period that will be having a better assessing of the return of
investment. It can be stated that with proper calculation better management of the business can
be made.

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References
Bjerke, M. B., & Renger, R. (2017). Being smart about writing SMART objectives. Evaluation
and program planning, 61, 125-127.
Daudkhane, Y. (2017). Why SMART Goals are not ‘Smart’enough?. Imperial Journal of
Interdisciplinary Research.
Ford, R. C. (2017). Combining performance, learning, and behavioral goals to match job with
person: Three steps to enhance employee performance with goal setting. Business
Horizons, 60(3), 345-352.
Giol, E. (2018). SMART goals in artistic management. Bulletin of the Transilvania University of
Braşov, Series VIII: Performing Arts, 11(2-Suppl), 103-108.
Moore, J. (2017). Setting SMART objectives. Headteacher Update, 2017(6), 14-14.
Reeves, M., & Fuller, J. (2018). When SMART Goals Are Not So Smart. MIT Sloan
Management Review, 59(4), 1-5.