Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Management by Objectives for the growth of business

By Annphilip Subscribe to RSS | February 27th 2012 | Views:
loading
 
  



The concept of management by objectives or MBO is closely related to planning. MBO plays a key role in the effective functioning of an organization. The essence of MBO is identifying common goals, choosing correct course of action and decision making. When employers and employees work together for the fulfillment of a common goal they can achieve it in a smooth way.

It was Peter Drucker who introduced and popularized the concept of MBO. The concept gains more popularity as it was against the policy of imposing goals and target on subordinates. It suggests that objectives should not be imposed on subordinates but should be decided collectively. This systematic and organized approach allows management to focus on goals and achieve the best possible in a quicker and easier way. A high speed internet connection from providers like Charter Internet can give you more information on management principals and its various strategies.

The main objective behind MBO is to make sure that everyone working for an organization has a clear understanding of the aims or goals of the organization. This in turn makes each person aware of his own roles and responsibilities in achieving those aims. To make the MBO system a success, both the management and the employees should work together in implementing and achieving plans. This automatically improves the standard and position of the organization, when compared to its competitors.

The different levels of MBO process includes defining organizational goals, setting employee objectives, monitoring performance and progress, evaluating performance, providing feedback and performance appraisals.

Defining goals – This is the first step of MBO process. Setting objectives is based on the organizations vision and mission. Objectives are placed after continuous research and decision making process. To set goals or objectives one should have a though knowledge about the project, the process going on there and about the organization.

While setting objectives, one should keep in mind the following factors:-

Objectives should be focused on result not activity

It should be consistent and specific

It should be measurable and time bounded

It should be designed in such a way that people can achieve the targets

Setting objectives for employees - After organizational goals are defined, employees work with management to determine their individual goals. In this way, everyone gets involved in the goal setting process. As part of setting goals for employees, the employers match their goals and resources. This ensures that employees have necessary tools and materials to achieve goals. After allocating men, material and money, the plan is implemented.

Monitoring performance and progress – After implementing the plan, there will be periodic review of the progress. Nowadays online monitoring is practiced in most of the organizations. Computers with Internet connection from High Speed Internet providers are used for this purpose.

To unleash the power of organization and achieve better results, you have to keep in touch with the employees. Two main tools to improve the performance are motivation and better communication and coordination. Motivation increases the empowerment of the employee. This improves the employee’s commitment towards the work and ultimately he will get job satisfaction. Meanwhile, communication and coordination helps in developing and maintaining a healthy relationship between the superiors and the subordinates. Other techniques to improve performance include brainstorming, nominal group technique, and the Delphi technique. We can collect more information about the techniques from the web connected to Charter Internet.

Evaluating performance – Next step is process evaluation. During the evaluation process, a manager reviews the process of each employee on an individual basis. He will discuss the problems faced by the employee during the course of action. Then, explains the ways the employee adopted to control the situation and the level of success. After review process, a feedback will be given. The main purpose of the review process is to analyze the current performance of the employee and give suggestion to improve his performance in the future

Annphilip - About Author:
Ann is a freelancer. She is interested in writing articles about different strategies adopted by organizations in improving their performance. She will do lots of researches before writing articles. Her home computer connected to Charter Internet gives her sufficient information related to her articles.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/business-articles/management-by-objectives-for-the-growth-of-business.htm

Related Business Articles Subscribe to RSS

Financial management of a festival production
Published by Adam Walker on April 11th 2012 | Business
Summer is coming up in Europe and the festival season is opening. This summer hundred thousands of p...
 
Importance of internet for buying destin florida homes for vacations
Published by Dany on May 11th 2012 | Business
Whenever we talk about beauty apart from other factors Destin Florida is best the place which strike...
 
Advantage of Joomla for a content management system
Published by Roney on February 7th 2012 | Business
Joomla hosting allows users to keep track of each part of the website content users are more or less...
 
Trying to keep the perfect Brand Message on the internet
Published by Edward Lui on June 25th 2012 | Business
Desires to know about the category of business you were making an effort to term, always keeping the...
 
Building management services- Setting up new relations
Published by Julia Roger on May 9th 2012 | Business
The owners corporation management services are taxed on profits and are permitted deductions for sal...
 
Strategic management of physicians’ day-to-day operational issues
Published by Jacob Thomas on November 29th 2011 | Business
Unlike physician practices of yesteryears, physician practices today have found themselves surrounde...
 
Services Offered by Property management Sioux Falls Companies
Published by Julia Roger on May 25th 2012 | Business
The Property management Sioux Falls companies are the most famous names in business. They have earne...
 
Zodiac Solutions Inc- Making effective management your criteria for growth
Published by Rahul on July 24th 2012 | Business
To help your organization’s success stay constant even in the times of economic slowdown, there ar...
 
Outsource stock management and order fulfillment to make your work easier
Published by Diego Hall on December 15th 2011 | Business
A business has many parts and taking car of each part single handedly is impossible, hence outsource...
 
Why is management training so important
Published by Julia Roger on March 22nd 2012 | Business
Dancing Lion are leading providers of Management Training, Call and Contact Centre Training and Cust...
 
Shopgoldyn.com coupon codes are regularly shared around the internet and posted on websites
Published by Pappu Sujitha on December 28th 2011 | Business
Make sure to use a website that lists the most latest/current Shopgoldyn.com coupon codes so that yo...
 
Handle all aspects of property with Dallas property management companies
Published by James Blee on June 9th 2012 | Business
Dallas property management companies are one of the reputed names in handling all aspects of propert...
 
Make waste management easy with skip bins
Published by Matthew Arthur on August 6th 2012 | Business
Waste, trash or garbage is needed to be disposed in a proper way. There are many reputed companies w...
 
Why have home décor stores become such a hit on the internet?
Published by Joseph Wilson on December 20th 2011 | Business
Well primarily because they offer exquisite merchandises, often even custom made, and now that you c...
 
Efficient ship management - the biggest need of shipping business
Published by Saurabh Pandey on December 3rd 2011 | Business
If you are the owner of a ship then you might be looking for someone who can manage it so that you g...
 
Versatile restaurant management systems available online
Published by Vem Call on May 24th 2012 | Business
In today's competitive hospitality market, meeting a customer's expectations is imperative in order ...
 
Compare auto insurance quotes via internet- safety measures:
Published by on April 4th 2012 | Business
Selecting effective and affordable car insurance might not be an easy task, but you can simplify it ...
 
Making a Bigger Market on the internet
Published by Darrell Fore on June 19th 2012 | Business
If you wish to produce a wider and bigger industry, you'll be able to do selling iphone in the on th...
 
E-Procurement Software is ensures business internet presence
Published by Nairapost on January 9th 2012 | Business
Though, E-Procurement Software contains mixed variety for securing on-line marketer accession to the...
 
BT Broadband in need of a better internet service provider?
Published by Paul Rowley on March 20th 2012 | Business
If you are looking for a new broadband internet connection and don’t know where to begin. Then BT ...