Discuss Management by Objectives

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The Answer is Management by objectives (MBO) is a management technique that aims to improve organizational performance by aligning individual and team goals with the overall objectives of the organization. It involves setting specific, measurable, achievable, relevant, and time-bound (SMART) objectives for employees and then regularly reviewing their progress towards these objectives.

MBO is used by first setting clear and specific objectives for each employee or team, which are then communicated and agreed upon by both the manager and the employee. Progress towards these objectives is regularly monitored and feedback is provided to help employees stay on track. At the end of the set period, the achievement of these objectives is evaluated and used as a basis for performance appraisal and reward decisions.

The advantages of MBO include improved communication and alignment of individual and organizational goals, increased employee motivation and engagement, and a focus on results and performance. It also provides a clear framework for performance evaluation and development planning.

However, MBO also has its disadvantages. It can lead to a narrow focus on short-term goals at the expense of long-term strategic objectives, and it may create a competitive environment among employees. Additionally, setting and measuring objectives can be time-consuming and may not always capture the full range of an employee's contributions.

An example of a good objective for MBO could be for a sales team to increase their monthly sales by 10% over the next quarter. This objective is specific, measurable, achievable, relevant, and time-bound, and it aligns with the overall goal of increasing company revenue. By regularly monitoring their progress towards this objective, the sales team can stay focused and motivated to achieve their target.

Discuss Management by Objectives

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Discuss Management by Objectives

Essay

Correct Answer:Answered by ExamLex AIShow Answer

Correct Answer:
Answered by ExamLex AI