Hi,
Do we need to quantify & timebound the objectives in all situations?
If the case is "shall we enter this market or introduce this product or buy that new technology etc." how can we approach quantifying?
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Quantify objective
4 answers
Yes, you should. E.g. if it is an investment decision, you can quantify by indexing your approach on NPV.
Overall NPV in as-is situation vs investment decision.
You can check Moldovian Coffin case for more details
Best
Serhat
Hi,
the example you provided is pretty vague, so it's difficult to help.
For sure, you would definitely not jump into the "resolution mode" at that stage.
- First, try to frame the situation: get a general understanding of the topic, have clear what are you discussing about;
- Second, try to frame the question: make sure you understand what the interviewer is looking for.
Ps. Time is always a dimension to take in consideration, but rarely the only one.
Hi Anonymous,
as mentioned by Vlad, yes, you can quantify the objective also in the cases you mentioned; however, you should first clarify what is the goal of the client. Once understood what is the objective - eg. increase revenues - you can then clarify the amount and time to achieve it.
Best,
Francesco
Hi,
Yes, absolutely! The interviewer will not always have an answer, but you should always try!
In the examples that you provided you can ask one of the following:
- What will be the criteria for success for us?
- Do we have any numerical objective in mind?
- How do we define success?
Remember that even a simple market entry case can have different objective and completely different structures!
Best!
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