Hi,
Cold calling is normally used in marketing and refers to meeting with a new prospect without a prior appointment or trying to set up an appointment with a new prospect randomly and with little or no reference from anyone. In a limited way, if you have access to biodata that broadly meets a client's specification and you call the candidate to inquire if he/she is interested in the opening, it can be termed cold calling.
Headhunting, on the other hand, refers to the systematic and targeted identification of a candidate who perhaps has special skill sets or the appropriate academics and experience. This is usually done for very senior-level positions and often involves trying to poach or lure a candidate from a competitor with the offer of much better pay, perks, designation, and job profile.
I trust I have clarified the terms to your satisfaction.
Jacob
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