MANAGEMENT BY OBJECTIVES
MANAGEMENT
BY OBJECTIVES (MBO)
MBO
is a process whereby the superior and subordinate managers of an organization
jointly identify its common goals, define each individual’s major areas of
responsibility in terms of results expected of him, and use these measures as
guides for operating the unit and
assessing the contribution of each of its members. - Odiorne
FEATURES
•
Emphasizes participation in setting
goals that are verifiable, and measurable
•
Focuses attention on what must be
achieved rather than how it is to achieved
•
A dynamic system which seeks to
integrate the company’s need to achieve its profit and sales growth with the
manager’s need to contribute and develop himself.
•
Allows mgt to attain maximum
results from available resources. It allows the subordinates with plenty of
room to make creative decisions on his own
STEPS
IN MBO
1.
Goal setting
•
Know your own goals
•
Meeting with your subordinates
•
Climate for goal setting
•
Second meeting with subordinates
2.
Action Plan
3.
Appraising performance
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