MANAGEMENT BY OBJECTIVES (MBO)
MANAGEMENT BY OBJECTIVES (MBO) A method whereby managers and employees define objectives for every department, project and person and use them to monitor subsequent performance. It is a management practice which aims to increase organizational performance by aligning goals and subordinates objectives throughout the organizational. MBO (Nature or Purpose) • MBO is concerned with goal setting and planning for individual managers and this units. • The essence of MBO is a process of joint goal setting between supervisor and the subordinate. • Clarify the hierarchy of objectives as a series of well defined means end chain. Steps for MBO :- • Set Goals The most difficult step. Specific target and time frame. Assign responsibility. Concrete. • Develop Action Plan For both workgroups and individuals. Course of action. • Review progress/take corrective Action Periodicity. Course corrections. • Appraise overall Performance How are we doing ? Do we...