The purpose of management is to coordinate and organize the various operations of an organization so that those actions can contribute to the company achieving its objectives. Using the resources of a company in the most efficient and productive way is one of the most important aspects of good business management.
Management by objectives(MBO) uses a set of quantifiable standards or objectives with which to measure the performance of a company and its employees. By comparing actual productivity with a given set of standards, managers can identify problem areas and improve efficiency.
Both management and employees know and agree with these rules and their objectives. Management by objectives (MBO) is a strategic approach to improving the performance of an organization. It is a process in which management defines and transmits the goals of the organization to the members of the organization with the intention of achieving each objective. The main objective of management is to run the company smoothly.
The objective of obtaining benefits from companies by performing various functions should also be taken into account. Management is essential for an organized life and necessary for carrying out all types of management. Good management is the backbone of successful organizations. Managing life means doing things to achieve life's goals, and managing an organization means doing things with and through other people to achieve their goals.
Leadership is an integral part of management and plays a vital role in managerial operations, while management is an integral component of technical and social processes. It offers organizations a process, and many professionals say that the success of the MBO depends on the support of top management, on clearly defined objectives and on the trained managers who can implement it. According to Harold Koontz, “Management is the art of doing things through and with people in formally organized groups. In the management by objectives approach, the most essential step is continuous feedback on results and objectives, since it allows employees to track their actions and correct them.
Perhaps, the importance of management was highlighted by the late President of the United States, John F. According to Kootz & O'Donnell, “the managerial function of staffing involves managing the structure of the organization through the appropriate and effective selection, the evaluation of &% of staff development to fulfill the functions designed in the structure. For example, let's look at the managerial role of a simple housewife and how she uses managerial ingredients to manage the household. Megginson, Mosley and Pietri define management as “working with human, financial and physical resources to achieve the objectives of the organization by performing the functions of planning, organization, leadership and control”.
Management by objectives (MBO) is a strategic management model that aims to improve the performance of an organization by clearly defining the objectives agreed upon by both management and employees. Taylor, “Management is the art of knowing what to do and when to do it and making sure it's done in the best and cheapest way”. However, most management thinkers agree that some form of formal training in academic management helps to manage successfully. Management, in one way or another, is an integral part of life and is essential whenever human efforts are made to achieve the desired objectives.
Management by objectives (also known as management by planning) is the establishment of a management information system (MIS) to compare actual performance and achievements with defined objectives. Management carries out research and development to lead its competitors and face the uncertainties of the future.