Target Identification FAQs:
Q. What is the purpose of target identification?
Target identification is the process of identifying potential targets or objectives for an organization to pursue. It involves identifying opportunities, challenges, and risks that the organization may face and determining the best course of action to achieve its goals.
Q. How is target identification different from goal setting?
Target identification is the process of identifying potential opportunities and objectives, while goal setting is the process of setting specific and measurable targets for an organization to achieve. Target identification is the first step in the goal-setting process, as it helps an organization to identify what it wants to achieve.
Q. What factors should be considered during target identification?
Factors that should be considered during target identification include the organization's strengths, weaknesses, opportunities and threats, as well as industry trends, customer needs, and competitive landscape. Additionally, the organization's mission, vision, and values should be taken into account.
Q. How often should target identification be conducted?
The frequency of target identification depends on the organization and its specific needs. It is typically conducted on a regular basis, such as annually or semi-annually, to ensure that the organization's goals and objectives remain aligned with its strategic direction.
Q. What qualifications are required to conduct target identification?
Target identification can be conducted by a variety of professionals, depending on the organization and the specific goals. A broad range of professionals, such as managers, consultants, and strategic planning experts, can conduct target identification. It is important to have a good understanding of the organization's industry, mission, vision, and values. Relevant professional certifications such as Certified Management Consultant (CMC) or relevant professional qualifications may also be required.