How important are Targets in a Business? Alok Kejriwal explains in this #Dhandhekibaat A-Z series

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Targets is a very sensitive topic for many of us. Some get made by targets; some get destroyed by them. My personal view on targets as explained in the video :

- I am a non-believer in 'targets' to start with.
- Targets make us 'prisoners' of outcomes (hence become restrictive).
- Targets CAN be dangerous if not carefully planned.
- What goes wrong in targets?
a) Formulaic setting (impractical)
b) It becomes a way to pass on business pressure from boss to junior
c) Sometimes NOT understood by the people who set targets!

What are the targets that work (and which I like)?
- Non-revenue based targets - like quality targets

There is an 'arithmetic' of targets that should be understood by the target setter and receiver so that its fully understood

Don't make targets a BULLYING tool.

Finally, remember - targets can be lethal (lots of returns after month closing, scams and lies) if implemented badly.

On Social Media Alok can be followed here:

Video Transcript:

Welcome to Dhandhe Ki Baat.

This is Alok Kejriwal.

Today we are going to tackle a sensitive topic.

'T' for Target.

So, targets is a very common occurrence in
all our lives.

I'm sure you have a target.

I have a target.

We all have a target.

It seems like sometimes, we are
prisoners of targets.

I think in this age of large numbers, everything
has to go up.

The graph should always be up.

Targets are the greatest tool to deploy.

Make a target and the person will achieve
it by any means.

So, targets are a very dangerous tool.

Personally, I don't believe in targets.

I think they do more negative than positive.

So, what goes wrong in a target?

Earlier, people used to use formula - like
increase the sales by 25% of this quarter.

The GDP is not increasing by 25% that you
will be able to increase your sale.

They are unrealistic.

Sometimes, people just are under so much business
pressure, they pass on that pressure to targets.

"Please make this much sale. I need
the money. Do it by any means."

Doesn't work like that.

It is unreasonable and unjust.

And, finally, I think, people who sometimes
set targets haven't understood how to achieve

them themselves.

So, that's a big problem.

It's set by people who don't know what they
are talking.

What are the targets that work?

I mean, targets work, right?

So, there are targets which are not always
aligned with revenue but can lead to revenue.

For example, in the product business - "Hey
product manager, this quarter I don't want

any of your games to be less than 4.5 stars".

It's a quality target.

Achievable if you do a good product.

It's something that can be measurable and
that can be easily attainable with effort.

Right?

"Hey HR, I don't want anyone in my company
to go home after 8PM".

Great!

So, it's a quality target that helps me improve
employee morale.

There are many many positives of targets if
you pursue them.

Second, targets are very big science.

I would suggest this method.

I call it the arithmetic of target setting.

So, there is a formula - a*b*c*d=e.

What does this mean?

There are many variables that you assume,
you hope for, you say, this should become

this leading to an output.

I would suggest, anybody who is watching and
who is receiving targets to understand the

math of targets very carefully before you
give them or accept them.

So, work with whoever you are working
with or with yourself and say

What parts of my formula are realistic?

What parts are optimistic?

What parts are normal?

And what could be the variance on this target?"

Don't just give arbit targets because they
don't work.

So, this is very important.

Finally, right, this is a very personal matter
I feel.

Don't make targets a bullying tool.

It is a very very bad way to bully people
- like this is your target, now you achieve

it and show. It never works.

Negatives of targets can sometimes be lethal.

You know, some companies I have seen, bill
excessively in March to fulfil a target and

all those goods are returned in April.

People lie.

People do all kinds of scams.

Avoid this because it's not going
to help you.

In the end, I'd love to quote one of my favourite
shlokas from the Gita

"Karmanye va dhikaraste maaphaleshu kadachana"

What does it mean?

Do not always keep thinking of the fruit aka
the target, believe in the effort.

So, I hope this helped.

Set targets carefully, Accept targets even
more carefully.

Learn some Gita shlokas.

Keep watching Dhandhe Ki Baat.

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I work on and what else can I review for you.

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Thank you so much.