SHORT-TERM GOAL FOR A

NEW RETAIL STORE

ADVERTISING GOALS

Create a budget for getting the word about your business out.
GRAND OPENING GOALS
Plan a Grand Opening celebration.

COMMUNICATION GOALS
After your Grand Opening, you'll want to know what your customers
thought and experienced and where they saw a need for your
improvement
RETAINING GOALS

The key to a successful business of any venue -- and retail

especially -- is return customers because your profit will come from
these customers. 2
HOW TO SET MEASURABLE GOALS
IN PRODUCT DEVELEOPMENT
• ASSESS YOUR CURRENT PROCES
Before initiating any new strategic plans and goals, document
how your company develops a new product now.

• WORD BACKWARDS
Start with your ultimate goal, which may be delivery to your
customers.

• BRING IN KEY PLAYERS

Goals should never be created in a vacuum.

• DEFINE GOALS

Within each timeframe, clearly define your expectations so that

each department is clear about the final objectives. 4
HOW TO CREAT A CLIENT MEMO
Memos are designed for official internal communications of a business or organization. They are often
sent to an entire organization but are also useful for informing a single department, team, or smaller
group of people.

HEADING
To: [Recipients’ full names and job titles or department]
From: [Your full name and job title]
Date: [Today’s date]
Subject: [What the memo is about]

OPENING STATEMENT
Try starting with, “I’m writing to inform you . . .”

BODY OF THE MEMO

This is where you will include details for the client’s reference
5
CLOSING
 HOW TO CALCULATE PROBABILTY IN PERT

A Project Evaluation and Review Technique (PERT) is a tool that project management
uses to manage a project. The PERT chart contains information about subprojects and
estimated completion times. Each subproject is assigned an estimated completion time,
based upon probability distributions for the expected completion time for the subproject
from start to finish.
The probability distribution for expected time is calculated by the following equation:

WHERE:

O = Optimistic Estimate
P = Pessimistic Estimate
M = Most Likely Estimate 6
 EXAMPLE PROBLEM

Within a large city, some factors influence how long it takes to drive from home to
the office. The weather, the time of day, and any vehicle accidents on the road can
impact the duration to get from home to the office on those roads.

Most Likely (M) 60 clear weather, clear roads, normal

minutes volume of drivers on some of the roads
Optimistic (O) 30 clear weather, clear roads, no other
minutes drivers on any road
Pessimistic Estimate 120 thunderstorm with rain, road blocked
(P) minutes from multiple vehicle accidents, the
highest volume of drivers

𝐎 +𝟒 𝑴 + 𝑷 𝟑𝟎+ 𝟒 ( 𝟔𝟎 ) +𝟏𝟐𝟎 𝟑𝟗𝟎

𝑷𝑬𝑹𝑻 = = = =𝟔𝟓 𝒎𝒊𝒏𝒖𝒕𝒆𝒔
𝟔 𝟔 𝟔
7