City Hive's Bev Shah: Why target setting matters

'Provide focus and motivation'

Running a business is largely based around targets.

Target customers, target profits, target growth areas, and there are also diversity targets, whether that is for the number of women or ethnic minorities on boards or senior management or in terms of recruitment at the entry level, as well as net-zero targets or carbon emissions reduction targets. Targets provide focus and motivation for firms - with culture and diversity targets particularly helping them align with their core values, which we discussed in the previous blog.  But firms can sometimes stumble with target setting in relation to culture because it has a strong people comp...