Common elements of management by objectives commerce essay

They are also very important to communicating results, and for evaluating the suitability of the goals that contain been arranged. The standards should be specified quantitatively as far as possible and the subordinate must understand them fully.

Common Elements Of Management By Aims Commerce Essay

MBO is not, however, without its problems and failures. This detailed analysis will highlight the desirable long run as well as short run objectives.

The concept of MBO is very important in terms of its managerial implications. McConkey has preferred the term management by results to management by objectives. The basic steps of MBO process are described as follows: Measurable goals indicate an easily determined output from an employee, which may be difficult given the nature of work, with many managerial and support roles not lending themselves to easily determinable output.

Nevertheless, this process isn't only audio for appraisal purposes, it is or should be a standard operating method in satisfying the management functions of planning, leading, and calculating. It may need to be slightly modified to fit in with a particular organisation, but the basic principles still hold true.

With MBO, the subordinates feel proud of being involved in the organisational goals. An attempt should be made to make the objectives specific and realistic. While informal performance appraisal of a subordinate is done by his manager almost every day, there should also be periodic review of performance.

As goals have been described in a specific, measurable and time-based way, the evaluation facet of MBO is relatively simple. The development, application, and results of the strategy and MBO are so similar that most articles on MBO would need only be modified to make reference to the individual rather than the task and the discourse would stay valid.

MBO should be treated as an overall philosophy of management and the entire organisation. Business elan, the soul of achievement, is dependant on the integration of company and worker goals--that is, a congruence between the organization's objectives and the individual interests and abilities.

After setting the departmental goals, the subordinates work with their respective managers to set their own goals relative to the organisational goals. Current management theory emphasises flexibility and adaptability as the key to maintaining a competitive advantage over time.

Management by Objectives Essay Sample

The review technique should be such that all deviations are caught early and corrected. The individual members who comprise the unit should also be consulted by the subordinate. Essay on the Concept of Management by Objectives: Setting of objectives does not mean anything in itself unless resources and means to achieve, there objectives are also provided.

It generally contains the following information: When you pay back goal achievers you send a definite subject matter to everyone that goal attainment is appreciated and that the MBO process is not only a fitness but an essential facet of performance appraisal.

Management by objectives is an extension of Goal theory as it involves systematic and programmatic goal setting throughout an organisation. Whether the goals are realistic or not does not enter the picture.

The individual members who comprise the unit should also be consulted by the subordinate. They must be adequately oriented about the value of MBO. They should be clearly understood by all concerned.

Peter, however, himself decreased its significance in the 90's when he said: Make sure you bear in mind the participative process: These objectives are generally set by the central management and usually in consultation with the other managers.

Instead of blindly following orders, managers, supervisors, and employees in an MBO system know what needs to be achieved and thus won't need to be bought around. The goals of the subordinates will be specific and short range and indicate what the subordinates unit is capable of achieving in a specified period of time.

Appraisal by objectives Appraisal by aims, the application of MBO techniques to performance appraisal, is not really a new concept.

Firstly specific goals are placed which when achieved should bring forward the results that support organizational, operational, tactical, strategic goals and plan.

The relationship of one job with other jobs in the organization should also be clearly established. There are some elements which are common to all the MBO processes.

After setting the organisational objectives, the next step is to set the departmental objectives. All this helps in improving the organisational structure as a result of location of the problem and weak areas of the organisation.

Examples List on Common Elements Of Management By Objectives Commerce

MBO ensures periodic meetings between the manager and his subordinate to discuss the progress towards the accomplishment of the targets of the subordinates. Common Elements Of Management By Objectives Commerce Essay Published: November 7, Peter Drucker formulated the term Management by Objectives.

Common Elements of Management by Objectives (MBO): 1. Goal Specificity: Firstly specific goals are set which when achieved should bring forward the results that support organizational, operational, tactical, strategic objectives and plan.

Management By Objectives MBO Commerce Essay. Print Reference this. Published: 23rd March, MBO is a process whereby superior and subordinate managers of an Organization jointly define its common goals, define each individual's major areas of responsibility in terms of results expected of him and use these measures as guides.

Read this essay to learn about Management by Objectives (MBO). After reading this essay you will learn about: 1. Introduction to Management by Objectives 2. Purpose 3. Characteristics 4. The Actual Mechanics 5.

Process 6. Steps Involved in an MBO Programme 7. Benefits of an MBO Programme 8. Why does MBO work? 9. Problems Effective Implementation Dec 05,  · Planning | Define management by objectives (MBO) and list four elements of this type of goal setting.

What are some problems associated with this. Management By Objectives MBO Commerce Essay. Published: November 7, According to George Odiome, MBO is a process whereby superior and subordinate managers of an Organization jointly define its common goals, define each individual's major areas of responsibility in terms of results expected of him and use these .

Common elements of management by objectives commerce essay
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