Advantages of Mbo

In: Business and Management

Submitted By abj2020
Words 1930
Pages 8
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8 Key Result Areas Where Managers Must Pursue Clear Objectives

• Marketing • Innovation • Human organization • Financial resources • Physical resources • Productivity • Social responsibility • Profit requirements

Management by Objectives (MBO) Principles

• Cascading of organizational vision, goals and objectives • Specific objectives for each member • Participative decision making • Explicit time period • Performance evaluation and feedback

| |
|The Two Questions You Need to Answer To Get The Whole Process Rolling |
|Where do I want to go ? (What is the objective?) |
|How will I pace myself to see if I am getting there? (What are my milestones, or key results?) |
|Make sure that the answers are precise! |
|Types of Objectives1 |
|Routine objectives |The objectives must be: |
|Innovation objectives |focused on a result, not an activity |
|Improvement objectives |consistent |
| |specific |
| |measurable |
| |related to time |
| |attainable |
|MBO Strategy: Three Basic Parts5 |
|All individuals within an organization are assigned a special set of objectives that…...

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