The process of management by objective focuses more on results rather than the activities involved. Management by Objective defines roles and responsibilities for the employees and to help them find out their future course of action in the organization. MBO is defined as a management practise which aims to increase organizational performance by clearly defining the goals and subordinate objectives of the organization that are agreed to both management and employees.
MBO defines as a comprehensive managerial system that systematically integrates many key scheduled activities and that is consciously directed toward the effective and efficient achievement of organisational and individual objectives. Goals are the most important part of organizational effectiveness and it serves several purposes. Every Organization have several different kinds of goals all of which must be perfectly managed.
The manager asks the employees which target they can achieve in the given period of time. Then they will discuss some issues related to their goals and try to solve them. Management by Objectives or MBO process is not only essential for making line managers in business but also it is equally important for monitoring the performance and progress of the employees.
Under the process of MBO, the concerned manager reviews the performance. It is used to measure the amount of value added by an employee in terms of increased business revenue, in comparison to industry standards.
It helps employees to have self-awareness about their performance. Performance evaluation lets an employee understand where does he or she stands as compared to other employees in the organization. One of the main parts of the MBO process is taking feedback from valuable clients that allows to monitor and correct or improve actions of the product or organization.
It increases the quality of the product or services and helps to know about the market standard. Management may be defined as the art of work done through people, with the satisfaction of the employer, employees, and the public. To do this, it is necessary to guide, direct, control human effort towards the fulfilment of the goal of the enterprise.
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Method of data collection. The 5 most important questions. Management by objective by rohit. Strategic management. Related Books Free with a 30 day trial from Scribd. Related Audiobooks Free with a 30 day trial from Scribd. Elizabeth Howell. Zoe Zoe. Atishay Jain. Ershadali Kt. Show More.
Views Total views. Actions Shares. No notes for slide. Management by Objectives: An Overview 1. Momentum Management by Objectives Software www. With an MBO system, you see the job in terms of what its end result should be. Activities are never the primary element, but rather an intermediate step in getting the desired result. Peter Drucker Peter Drucker originated the concept of management by objectives in the s.
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