Time Bound: It is essential for bank to lay goals and also have the deadline for the completion of each goal. To be a market leader bank needs to work hard. They need to dedicate more time and resources to attain required success. A time associated with each goal develops a sense of urgency that is required within the organization otherwise there is a chance that employees will not take that goal seriously.
A time-bound goal will usually answer the question:
- What can bank do 6 months from now to increase customer base?
- What can Bank do 6 weeks from now?