Which of these options best describes an objective that is Specific, Measurable, Agreed upon, Realistic, and Time-specific?

The term that best describes an objective that is Specific, Measurable, Agreed upon, Realistic, and Time-specific is known as a SMART objective. The SMART criteria are essential for effective objective-setting, as they provide a clear framework that ensures each objective is well-defined and achievable within a certain timeframe.

A SMART objective is highly beneficial for businesses as it helps to break down larger goals into manageable components, making it easier to track progress and assess success. The specificity helps clarify what is to be achieved, while measurability allows organizations to quantify their progress. Agreeing upon objectives fosters commitment among team members, realism ensures that objectives are attainable given available resources, and time-specificity brings a sense of urgency and accountability.

In contrast, a strategic objective refers to broader goals aligned with long-term business strategy and may not necessarily adhere to the SMART criteria in detail. An action plan outlines the steps necessary to achieve objectives but does not inherently define the criteria for evaluating those objectives. A goal-setting framework might include various methods for establishing objectives but does not specifically encompass the detailed elements that characterize SMART goals.