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
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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
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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.
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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
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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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