Management by Objectives
With regards to the same, the management must realize and understand the performance standards and measurement of the employees. It is better to involve the employees while setting the goals and decide on the course of action so that the responsibilities bestowed upon them are accomplished successfully. The system of management by objectives Involve both the seniors and juniors Identifying and agreeing to a common set of goals, understand the spontaneously areas and devise a plan to Implement In order to achieve the goals.
Features As mentioned, management by objectives Is a mutual process of achieving a company’s target and goals. The features of this process include: a. Motivation provided to employees to identify their strengths and increase the level of goals set for themselves, thereby providing opportunities of self growth b. Improved coordination and communication skills between the employees as well as the seniors and maintain a cordial relationship amongst each other c. Better clarity of goals d.
Better motivation and realization of self set goals rather than the ones imposed on by others e. The goals are sync with the organization’s annual targets f. The common goal for the organization Indicates a directive principle of management About Objectives The objectives
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Depending on the strategies to achieve the annual target and goal, the management may choose to decide the actual goal setting for departments as well as individuals. This helps in understanding the strengths and weaknesses of an organization and its task force. Determining and communicating the goals are essential. Limitations The concept, although may sound a good initiative on the part of the management to involve everyone to achieve the goals, there are certain limitations that should not be moored. A.
The concept puts more emphasis on the setting of targets and goals than the execution and Implementation plan b. The concept also, somehow, Ignores the significance of the context and environmental factors Involved during goal setting process. Availability of resources, their quality, amount of research put in to set the properly. It is better to measure the pros and cons first and then proceed with planning about achieving the goals.