Achievable

Definition

Achievable refers to the ability to realistically accomplish a goal or objective within a given timeframe and with available resources. It is a crucial aspect of setting effective entrepreneurial visions and goals, ensuring they are practical and attainable.

5 Must Know Facts For Your Next Test

1. Achievable goals are essential for maintaining motivation and momentum in the entrepreneurial journey, as they provide a clear sense of progress and accomplishment.
2. Assessing the achievability of a goal requires considering factors such as available resources, skills, and constraints, as well as the timeframe for completion.
3. Setting achievable goals helps entrepreneurs allocate resources effectively, avoid burnout, and stay focused on realistic and meaningful objectives.
4. Regularly reviewing and adjusting goals to ensure they remain achievable is crucial as an entrepreneur's business and circumstances evolve over time.
5. Achievable goals should be ambitious enough to challenge the entrepreneur but not so unrealistic that they become demotivating or unattainable.

Review Questions

• Explain how the concept of 'Achievable' relates to the development of an entrepreneurial vision and goals.
  • The concept of 'Achievable' is crucial in the context of an entrepreneurial vision and goals because it ensures that the objectives set are practical and can be realistically accomplished within a given timeframe and with the available resources. Achievable goals provide a clear path forward, maintain motivation, and help entrepreneurs allocate resources effectively. By setting achievable goals, entrepreneurs can break down larger visions into more manageable steps, stay focused on meaningful objectives, and avoid the risk of burnout or discouragement from pursuing unrealistic targets.
• Describe how a feasibility analysis can help ensure that entrepreneurial goals are achievable.
  • A feasibility analysis is a key tool in assessing the achievability of entrepreneurial goals. This process involves evaluating the practicality and viability of a proposed plan or idea, taking into account factors such as available resources, constraints, and potential challenges. By conducting a thorough feasibility analysis, entrepreneurs can identify potential roadblocks, estimate the resources required, and determine whether their goals are truly achievable within the given timeframe. This assessment helps entrepreneurs make informed decisions, allocate resources effectively, and set goals that are realistic and attainable, ultimately increasing the chances of success in their entrepreneurial endeavors.
• Analyze the role of incremental goals in making entrepreneurial visions and objectives achievable.
  • Incremental goals play a crucial role in making entrepreneurial visions and objectives achievable. By breaking down larger, more ambitious goals into smaller, more manageable steps, entrepreneurs can create a clear and actionable plan for achieving their overarching vision. Incremental goals provide a sense of progress and accomplishment, helping to maintain motivation and momentum throughout the entrepreneurial journey. Additionally, the step-by-step approach of incremental goals allows entrepreneurs to allocate resources effectively, identify and address potential challenges, and make necessary adjustments along the way, ultimately increasing the likelihood of successfully realizing their entrepreneurial vision.

Related terms

SMART Goals:

A framework for setting effective goals that are Specific, Measurable, Achievable, Relevant, and Time-bound.

Feasibility Analysis:

The process of assessing the practicality and viability of a proposed idea or plan, taking into account factors such as resources, constraints, and potential challenges.

Incremental Goals: Breaking down larger goals into smaller, more manageable steps that can be accomplished in a step-by-step manner.