Planning of Management by Objectives is key for successful longterm implementation. Here are some key features of Management of Objectives.
Features Of Management By Objectives (MBO)
Superior-subordinate participation: It is up to management and subordinates to understand that Management by Objectives (MBO) means that they must work hand in hand to come up with goals and objectives. They must also jointly agree on exactly how the job duties should be handled in order to attain those goals.
Joint goal setting: We already know about the cooperation level that is required in the MBO process, but all sides must also realize that the goals that are being set should be tangible, verifiable, and measurable. In order for it to be a successful venture, management and subordinates need to agree on objectives that are realistic and attainable.
Joint decision on methodology: The biggest difference that Management by Objectives holds over other methods is that if focuses on what goals need to be met rather than laboring over how they should be accomplished. Superiors and subordinates work together to devise how that will be done, as well as set up a series of standards and performance evaluation.
Makes it easy to attain maximum results: The MBO process is built on a rational style of thinking which allows maximum results to be obtained by simply setting attainable goals and allowing employees to use creativity and solid decision making on the road to achieving those objectives.
Support from superiors: It’s the role of the superior to always make himself available to the employees. He should offer advice and guidance to every individual that is working towards the organizational goals that have been set. This is exactly how Management by Objectives works in maintaining a high level of communication and cooperation between management and employees.
Steps In Planning of Management By Objectives
Goal setting: The organizational objectives have to be crystal clear before any other steps can be considered. These are usually decided upon by top executives after consulting with the entire management team. The final decisions are them passed on to the rest of the organization, with the main focus on Key Result Areas (KRA).
Manager-Subordinate involvement: Once the bigger organizational details have been decided, management and subordinates get to work on setting individual goals, with everyone then involved.
Matching goals and resources: It’s at this point that management must look at providing their people with all the tools they need to meet those goals.
Implementation of plan: Once all the objectives have been ironed out and resources put in place, the employees then put together the plan. They can call on management at any time should they need further assistance.
Review and appraisal of performance: It’s important that managers and subordinates meet regularly to evaluate performance and progress. The same fair and measurable standards should be used during this process as they were in the planning stage.