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MANAGEMENT BY OBJECTIVE (MBO) TO MANAGE AN ORGAISATION EFFECTIVELY FORMULATION OF CLEAR OBJECTIVES ARE REQUIRED. OBECTIVES ARE GUIDELINES OR ROADMAPS FOR MANAGERIAL EFFORT AND ACTIONS. AN OBJECTIVE IS A GOAL, AN END THAT AN ORGANISATION OR AN INDIVIDUAL AIMS AT OR STRIVES TO ATTAIN. OBJECTIVES DETERMINE WHAT AN INDIVIDUAL AND THE WHOLE ORGANISATION ARE EXPECTED TO ACCOMPLISH. OBJECTIVES ARE THE FOUNDATION OF GOOD PLANNING. OBJECTIVES SHOULD BE “SMART” S = SPECIFIC (TARGET) M = MEASURABLE (QUANTIFY) “What gets measured gets done” A = ATTAINABLE OR ASSIGNABLE R = RELEVANT OR REALISTIC T = TIME BOUND “OBJECTIVES SHOULD BE ACCEPTED BY BOTH THE SUPERIOR AND THE SUB- ORDINATES” HIERARCHY OF OBJECTIVES TLM : MISSION, OVERALL OBJECTIVES OF AN ORGANISATION, PRODUCTIVITY, PHYSICAL AND FINANCIAL RESOURCES, PROFITABILITY, MARKET SHARE, INNOVATION, SOCIAL RESPONSIBILITY, QUALITY AND SERVICE ISSUES. MLM : DIVISIONAL AND DEPARTMENTAL OBJECTIVES. LLM : PERFORMANCE GOALS, UNIT OBJECTIVES. MBO MBO IS AN APPRAISAL TOOL. MBO IS A PLANNING AND CONTROL DEVICE. THE PROCESS OF MBO BEGINS WITH SETTING OF SUBORDINATES OBJECTIVES JOINTLY BY THE IMMEDIATE SUPERIOR AND SUB-ORDINATES AND ENDS WITH THE PERFORMANCE APPRAISAL OF THE SUB- ORDINATES. THE MANAGER ALONG WITH HIS/HER SUB-ORDINATES PLAN TOGETHER TO SET COMMON GOALS. MBO STEPS DEVELOP OVERALL ORGANISATIONAL GOALS F E ESTABLISH SPECIFIC GOALS FOR VARIOUS DEPATMENTS, SUB-UNITS & INDIVIDUAL E D FORMULATE ACTION PLANS IDENTIFYING THE PROBLEM AREAS B A C IMPLEMENT AND MAINTAIN SELF CONTROL K CONDUCT PERIODIC REVIEW OF THE PLANS APPRAISE PERFORMANCE OF THE SUB-ORDINATES
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