Management by objectives
Summary :
Table of Contents
- Introduction
- What is Performance Management?
- What is MBO?
- The process of MBO
- Defining organizational goals
- Performance evaluation and reviews
- Rewards and punishment
- Key features of MBO
- Limitations
- How to implement MBO in an organization
- Conclusion
- References
Abstract
management by objectives or MBO is a widely embraced management concept that aims at articulating the company's goals into clear and measurable targets and breaking such targets into specific objectives for each individual in the company. Though MBO was initially a tool to facilitate performance appraisals of employees, its scope has now extended much beyond performance appraisals. MBO is now widely used as a tool for strategic planning and exercise managerial control over the work of employees in an enterprise.
What is Performance management?
Performance appraisal is the systematic, periodic and an impartial rating of an employee's excellence in the matters pertaining to his present job and his potential for a better job.
What is Performance management?
Performance appraisal is the systematic, periodic and an impartial rating of an employee's excellence in the matters pertaining to his present job and his potential for a better job.
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