Most successful businesses have clearly defined objectives, and they constantly set goals and targets. By setting effective targets and meeting them, they tend to create overall value for consumers. Target setting provides a strong backdrop for effective strategy making for businesses and insulates them from negative market forces.
In the absence of the above, businesses may find themselves negatively exposed to market forces, and without a right direction. However, targets/goals must be specific, realistic, measurable, achievable, time bound (SMART), and firmly entrenched in the overall strategy of the business and its deliverables.
In this course, the student is required to prepare a project for an existing organization developing a specific new activity/product or service within the area of specialization. As a business project, it should be specific and measurable, while adhering to budget and time constraints.
