The document discusses management by objectives (MBO) and management by exception (MBE).
[1] MBO is a systematic approach that aims to increase organizational performance by aligning goals throughout by having all managers participate in strategic planning and ongoing feedback. It was first outlined by Peter Drucker in 1954.
[2] MBE is a policy where management only investigates situations where actual results differ significantly from plans. It aims to better utilize managers' time by bringing exceptions to their attention. Cisco Systems uses MBE in its supply chain by only intervening when problems arise.
Management by Exception (MBE) is a management style where managers only intervene when employees fail to meet performance standards or when problems arise. Under MBE, managers delegate substantially to employees and only take action if metrics fall outside predetermined ranges. This focuses manager attention on important variances. For MBE to work requires an appropriate budget, a matrix defining exception levels and roles, and timely reporting. MBE allows employees autonomy as long as targets are met but risks demotivating staff and assumes budgets are perfect.
This document discusses the three levels of strategic management - corporate, business, and operational.
The corporate level focuses on the overall plan for the organization and strategic business units. Strategy at this level involves conceptual decisions. The business level determines how each business unit will compete and allocates resources. Operational level strategies improve internal functions like manufacturing and marketing.
Effective strategic management requires coordination across all three levels to improve profitability.
Methods and techniques of organization appraisallakhwinder Singh
This document discusses various methods and techniques for organizational appraisal, including value chain analysis, qualitative analysis, quantitative analysis, historical analysis, industry standards, benchmarking, and the balanced scorecard. It provides details on each method, such as how value chain analysis is used to identify a firm's most valuable activities, how quantitative analysis includes financial and non-financial measures, and how the balanced scorecard translates a business's vision into objectives in four key areas: financial, customer, internal processes, and learning and growth. The document aims to outline different approaches for evaluating an organization's internal environment and identifying strengths and weaknesses.
The document discusses functional implementation and strategies in strategic management. It explains that functional implementation is carried out through functional plans and policies in five key areas: marketing, financial, operations, personnel, and information management. Functional strategies involve developing plans for each functional area to achieve business objectives. These strategies must have vertical and horizontal fit to ensure coordination across levels and functions. The document then provides examples of the types of plans and policies developed for each functional area, including marketing, operations, financial, human resources, and information management.
The document outlines 5 models of organizational behavior: 1) autocratic model which relies on power and managerial authority, 2) custodial model which depends on economic resources and employee benefits, 3) supportive model based on leadership and employee encouragement, 4) collegial model where employees cooperate as a team, and 5) system model based on trust and self-motivation leading to committed employees and high performance.
There are several methods used for management development, including on-the-job methods like coaching, understudy, and committee assignments as well as off-the-job methods like role playing, sensitivity training, and case study analysis. The document provides details on various techniques. It explains that management development is an educational process that aims to induce behavioral changes through learning concepts, skills, and insights needed for effective management. The goals are to enhance performance, ensure qualified managers are available, and support self-development.
The Hawthorne Experiments consisted of four parts conducted between 1924-1932 at Western Electric Works in the US. The first experiment varied lighting levels and found productivity increased regardless, showing factors beyond lighting impacted work. The second experiment gave workers flexibility and found productivity rose. Interviews in the third experiment revealed productivity increased when workers could freely discuss important issues. The fourth embedded observers and found workers set their own standards. The conclusions determined social and psychological factors beyond physical conditions most impact productivity.
Management by Exception (MBE) is a management style where managers only intervene when employees fail to meet performance standards or when problems arise. Under MBE, managers delegate substantially to employees and only take action if metrics fall outside predetermined ranges. This focuses manager attention on important variances. For MBE to work requires an appropriate budget, a matrix defining exception levels and roles, and timely reporting. MBE allows employees autonomy as long as targets are met but risks demotivating staff and assumes budgets are perfect.
This document discusses the three levels of strategic management - corporate, business, and operational.
The corporate level focuses on the overall plan for the organization and strategic business units. Strategy at this level involves conceptual decisions. The business level determines how each business unit will compete and allocates resources. Operational level strategies improve internal functions like manufacturing and marketing.
Effective strategic management requires coordination across all three levels to improve profitability.
Methods and techniques of organization appraisallakhwinder Singh
This document discusses various methods and techniques for organizational appraisal, including value chain analysis, qualitative analysis, quantitative analysis, historical analysis, industry standards, benchmarking, and the balanced scorecard. It provides details on each method, such as how value chain analysis is used to identify a firm's most valuable activities, how quantitative analysis includes financial and non-financial measures, and how the balanced scorecard translates a business's vision into objectives in four key areas: financial, customer, internal processes, and learning and growth. The document aims to outline different approaches for evaluating an organization's internal environment and identifying strengths and weaknesses.
The document discusses functional implementation and strategies in strategic management. It explains that functional implementation is carried out through functional plans and policies in five key areas: marketing, financial, operations, personnel, and information management. Functional strategies involve developing plans for each functional area to achieve business objectives. These strategies must have vertical and horizontal fit to ensure coordination across levels and functions. The document then provides examples of the types of plans and policies developed for each functional area, including marketing, operations, financial, human resources, and information management.
The document outlines 5 models of organizational behavior: 1) autocratic model which relies on power and managerial authority, 2) custodial model which depends on economic resources and employee benefits, 3) supportive model based on leadership and employee encouragement, 4) collegial model where employees cooperate as a team, and 5) system model based on trust and self-motivation leading to committed employees and high performance.
There are several methods used for management development, including on-the-job methods like coaching, understudy, and committee assignments as well as off-the-job methods like role playing, sensitivity training, and case study analysis. The document provides details on various techniques. It explains that management development is an educational process that aims to induce behavioral changes through learning concepts, skills, and insights needed for effective management. The goals are to enhance performance, ensure qualified managers are available, and support self-development.
The Hawthorne Experiments consisted of four parts conducted between 1924-1932 at Western Electric Works in the US. The first experiment varied lighting levels and found productivity increased regardless, showing factors beyond lighting impacted work. The second experiment gave workers flexibility and found productivity rose. Interviews in the third experiment revealed productivity increased when workers could freely discuss important issues. The fourth embedded observers and found workers set their own standards. The conclusions determined social and psychological factors beyond physical conditions most impact productivity.
Organizational behavior is the study of how individuals, groups, and structures influence behavior within an organization. It is important for modern business management as it allows managers to map out organizational events, understand different personalities and work styles, know themselves and understand others better, maintain good employee relations, understand motivation, optimize marketing, and make the most of employee skills.
This document provides an overview of key management concepts and theories including: Taylor's scientific management theory, Fayol's principles of management, Mayo's Hawthorne experiments, Maslow's hierarchy of needs, McGregor's Theory X and Theory Y, Herzberg's two-factor theory, systems approach to management, leadership styles, and the social responsibilities of management. It defines management, discusses its nature and importance, and outlines common management functions proposed by various theorists.
This document discusses several theories of leadership:
1. Trait theory of leadership, which focuses on innate personal qualities and characteristics of leaders. It describes several frameworks of trait theory including Katz, Stogdill, and McCain.
2. Behavioral theories that attempt to isolate behaviors that differentiate effective vs ineffective leaders, including the Ohio State studies, Michigan studies, and Managerial Grid theory.
3. Contingency theory including Fiedler's model of leadership style and situational control, and the path-goal theory.
4. Hersey-Blanchard situational leadership theory which proposes changing leadership styles based on follower maturity.
5. Other topics covered include transactional
This document discusses organizational design and change. It states that there is no single best organizational structure, and the structure must match the company's strategy. Organizational design involves creating the right structure to implement strategy, while change modifies existing structures that no longer fit strategy. The document outlines different dimensions of organizational structure and contextual factors. It provides steps for developing an organizational design and notes that change affects structures and behaviors. Different structures are described that match various business and corporate strategies like diversification and internationalization.
Business Ethics and Corporate Social Responsibility MEKUANINT ABERA
This seminar presentation discusses business ethics and corporate social responsibility with case studies of Coca-Cola and the Tata Group. It introduces the concepts of business ethics and CSR, outlines their importance, and describes the CSR models and initiatives of Coca-Cola and Tata in areas like water, energy, health, communities and economic development. It also discusses some obstacles faced by Coca-Cola and their responses. The presentation concludes that many businesses are actively engaging in CSR to improve people's livelihoods.
Organizational behavior is concerned with understanding, predicting, and controlling human behavior in organizations. It is an interdisciplinary field that draws from psychology, sociology, anthropology and aims to be both a science and an art. The goals of organizational behavior are to understand, explain, and predict human behavior in organizational contexts in order to fulfill employees' needs and optimize human potential.
Production/operations management (POM) involves planning, organizing, and controlling the production process. As part of management, the key functions of POM are to optimize resource utilization, make decisions about production, and ensure goals are aligned with the overall organization's strategy. The POM manager seeks to effectively plan, organize, control, and model human behavior during the conversion of raw materials into finished goods.
Strategic evaluation is defined as determining the effectiveness of an organization's strategy in achieving objectives and taking corrective actions. It is the final step in strategic management and involves appraising internal/external factors, measuring performance, and making adjustments. Strategic evaluation is important because it assesses the efficiency and effectiveness of plans in achieving goals. It allows managers to evaluate current strategies in a changing environment. The process involves setting benchmarks, measuring actual performance, analyzing variances, and taking corrective actions. Participants include shareholders, directors, executives, and managers.
MANAGEMENT BY OBJECTIVES - FEATURES, PROCESS, BENEFITS, LIMITATIONSAMALDASKH
Management by Objectives (MBO) is a management system where each member participates in setting objectives. The process of MBO involves defining organizational objectives and goals for each section. It then sets subordinates' objectives, matches resources to objectives, and has periodic review meetings. MBO aims to combine long-term goals with short-term goals through participation in objective setting at all levels, but it can be time-consuming and fail to explain its philosophy clearly. Effective objectives should be specific, attainable, innovative, and ranked by importance when set according to MBO.
The document provides an overview of strategic management. It defines strategy and discusses the different levels of strategy - corporate, business, and functional. It then defines strategic management as setting long-term goals and implementing plans to achieve them. The document outlines the key components of strategic management, including environmental scanning, strategy formulation, implementation, and evaluation. For strategy formulation, it discusses analyzing the internal and external environment through SWOT analysis to identify the best course of action. It also explains the process of implementing, evaluating, and controlling strategies.
Techniques of Strategic Evaluation & Strategic Manik Kudyar
The document discusses strategic evaluation and control. It defines strategic evaluation as determining the effectiveness of a strategy in achieving objectives and making corrections. Key aspects of strategic evaluation include assessing internal/external factors, measuring performance, and taking corrective actions. Strategic control ensures the strategy and its implementation meet objectives. Techniques for strategic evaluation include gap analysis, SWOT analysis, PEST analysis, and benchmarking. Strategic control types are premise control, implementation control, strategic surveillance, and special alert control.
Core competencies are a firm's unique skills and abilities that distinguish it in the marketplace. They fulfill three criteria: provide access to markets, contribute significantly to customer benefits, and are difficult for competitors to imitate. The document discusses how core competencies facilitate strategy, innovation, and competitive advantage. It provides examples of companies like Apple, 3M, and Starbucks that have differentiated themselves through core competencies. The core competence model outlines how resources, capabilities, competitive advantage, and strategy are related. Management must identify and build upon a company's core competencies to develop successful long-term strategies.
corporate governance and role in strategic managementzeba khan
describes the concept of corporate governance along with need and benefits of corporate governance. highlights the role and importance of corporate governance in strategic management.
Porter's five forces framework analyzes competition within an industry by considering five competitive forces: the threat of new entrants, the threat of substitutes, the bargaining power of buyers, the bargaining power of suppliers, and rivalry among existing competitors. The five forces determine the profitability and attractiveness of an industry. An unattractive industry has forces that drive down overall profitability. Porter's five forces model originated from the work of Michael Porter at Harvard University.
Business process reengineering (BPR) seeks dramatic improvements in critical performance measures like cost, quality, service and speed through fundamentally rethinking and redesigning business processes. It requires taking a clean-sheet approach to processes rather than assuming current processes are optimal. Key steps involve selecting processes for reengineering, appointing cross-functional teams, understanding the current "as-is" process, developing and communicating a vision for an improved "to-be" process, identifying an action plan, and executing the plan through process simplification and standardization while removing non-value adding activities. Common challenges include processes being too broadly or narrowly defined, over-reliance on existing processes, and failure to align BPR with business objectives.
A virtual organization is a temporary network of independent organizations that use technology to coordinate work to achieve a common goal. It has no physical presence and relies on electronic communication. Key features include small partners, extensive IT use, shared ownership, flexibility, and geographically dispersed members. Successful virtual organizations require clear communication, performance standards, coordination between members, and support mechanisms for remote work.
The document discusses strategic intent and the balanced scorecard approach to strategic management. It defines strategic intent as the purpose and direction an organization aims to achieve. Key elements of strategic intent include vision, mission, goals, and objectives. These elements form a hierarchy with the vision at the top as the long-term goal, followed by the mission which articulates how the vision will be achieved, then specific goals and objectives with metrics to evaluate performance. The balanced scorecard framework translates strategic intent into objectives and measures across financial, customer, internal process, and learning/growth perspectives.
This document summarizes various aspects of organizational development (OD) efforts. It discusses that OD is a planned change approach that aims to improve organizational effectiveness and employee well-being through interventions at the task, structure, technology, or people levels. It is a long-term and ongoing process that relies on experiential learning and uses action research. Various OD interventions are outlined, including sensitivity training, team building, survey feedback, and process consultation. The key aspects and processes of different interventions like team building, survey feedback, and process consultation are also summarized.
The document discusses the strategic management process, which includes four main steps: environmental scanning, strategy formulation, strategy implementation, and strategy evaluation. Environmental scanning involves analyzing internal and external factors that influence an organization. During strategy formulation, organizations design resource acquisition plans and formulate strategies to achieve goals. Strategy implementation translates strategies into actions. Strategy evaluation regularly assesses strategies and performance to determine if corrections are needed.
This document outlines the key concepts around organizing and human resource management. It discusses the nature and purpose of organizing, including common objectives, division of labor, authority structures, communication, and coordination. It also defines organizing and describes different types of organization structures. The purpose of organizing is to facilitate management, increase efficiency, allow for growth, optimize resource use, and stimulate creativity. The outcome is for students to understand different organization types and the functions of human resources managers.
Management by Objectives (MBO) is a process where employees and supervisors jointly set goals, employees define their own goals and plans, and performance is evaluated based on achieving objectives. MBO aims to improve management by clarifying responsibilities, setting individual and organizational goals aligned with the overall strategy, and providing feedback. Key aspects of MBO include participative goal setting, explicit time periods for goals, and linking performance reviews to achieving objectives.
MBO is a management model that aims to improve organizational performance by clearly defining objectives agreed upon by management and employees. Employees set measurable personal goals based on organizational goals. MBO requires coordination of individual goals to work toward the overall organizational goal. Objectives are set for each level of the organization and employees are given specific targets and accountability. Performance is monitored periodically and employees are incentivized or reprimanded based on evaluations against objectives.
Organizational behavior is the study of how individuals, groups, and structures influence behavior within an organization. It is important for modern business management as it allows managers to map out organizational events, understand different personalities and work styles, know themselves and understand others better, maintain good employee relations, understand motivation, optimize marketing, and make the most of employee skills.
This document provides an overview of key management concepts and theories including: Taylor's scientific management theory, Fayol's principles of management, Mayo's Hawthorne experiments, Maslow's hierarchy of needs, McGregor's Theory X and Theory Y, Herzberg's two-factor theory, systems approach to management, leadership styles, and the social responsibilities of management. It defines management, discusses its nature and importance, and outlines common management functions proposed by various theorists.
This document discusses several theories of leadership:
1. Trait theory of leadership, which focuses on innate personal qualities and characteristics of leaders. It describes several frameworks of trait theory including Katz, Stogdill, and McCain.
2. Behavioral theories that attempt to isolate behaviors that differentiate effective vs ineffective leaders, including the Ohio State studies, Michigan studies, and Managerial Grid theory.
3. Contingency theory including Fiedler's model of leadership style and situational control, and the path-goal theory.
4. Hersey-Blanchard situational leadership theory which proposes changing leadership styles based on follower maturity.
5. Other topics covered include transactional
This document discusses organizational design and change. It states that there is no single best organizational structure, and the structure must match the company's strategy. Organizational design involves creating the right structure to implement strategy, while change modifies existing structures that no longer fit strategy. The document outlines different dimensions of organizational structure and contextual factors. It provides steps for developing an organizational design and notes that change affects structures and behaviors. Different structures are described that match various business and corporate strategies like diversification and internationalization.
Business Ethics and Corporate Social Responsibility MEKUANINT ABERA
This seminar presentation discusses business ethics and corporate social responsibility with case studies of Coca-Cola and the Tata Group. It introduces the concepts of business ethics and CSR, outlines their importance, and describes the CSR models and initiatives of Coca-Cola and Tata in areas like water, energy, health, communities and economic development. It also discusses some obstacles faced by Coca-Cola and their responses. The presentation concludes that many businesses are actively engaging in CSR to improve people's livelihoods.
Organizational behavior is concerned with understanding, predicting, and controlling human behavior in organizations. It is an interdisciplinary field that draws from psychology, sociology, anthropology and aims to be both a science and an art. The goals of organizational behavior are to understand, explain, and predict human behavior in organizational contexts in order to fulfill employees' needs and optimize human potential.
Production/operations management (POM) involves planning, organizing, and controlling the production process. As part of management, the key functions of POM are to optimize resource utilization, make decisions about production, and ensure goals are aligned with the overall organization's strategy. The POM manager seeks to effectively plan, organize, control, and model human behavior during the conversion of raw materials into finished goods.
Strategic evaluation is defined as determining the effectiveness of an organization's strategy in achieving objectives and taking corrective actions. It is the final step in strategic management and involves appraising internal/external factors, measuring performance, and making adjustments. Strategic evaluation is important because it assesses the efficiency and effectiveness of plans in achieving goals. It allows managers to evaluate current strategies in a changing environment. The process involves setting benchmarks, measuring actual performance, analyzing variances, and taking corrective actions. Participants include shareholders, directors, executives, and managers.
MANAGEMENT BY OBJECTIVES - FEATURES, PROCESS, BENEFITS, LIMITATIONSAMALDASKH
Management by Objectives (MBO) is a management system where each member participates in setting objectives. The process of MBO involves defining organizational objectives and goals for each section. It then sets subordinates' objectives, matches resources to objectives, and has periodic review meetings. MBO aims to combine long-term goals with short-term goals through participation in objective setting at all levels, but it can be time-consuming and fail to explain its philosophy clearly. Effective objectives should be specific, attainable, innovative, and ranked by importance when set according to MBO.
The document provides an overview of strategic management. It defines strategy and discusses the different levels of strategy - corporate, business, and functional. It then defines strategic management as setting long-term goals and implementing plans to achieve them. The document outlines the key components of strategic management, including environmental scanning, strategy formulation, implementation, and evaluation. For strategy formulation, it discusses analyzing the internal and external environment through SWOT analysis to identify the best course of action. It also explains the process of implementing, evaluating, and controlling strategies.
Techniques of Strategic Evaluation & Strategic Manik Kudyar
The document discusses strategic evaluation and control. It defines strategic evaluation as determining the effectiveness of a strategy in achieving objectives and making corrections. Key aspects of strategic evaluation include assessing internal/external factors, measuring performance, and taking corrective actions. Strategic control ensures the strategy and its implementation meet objectives. Techniques for strategic evaluation include gap analysis, SWOT analysis, PEST analysis, and benchmarking. Strategic control types are premise control, implementation control, strategic surveillance, and special alert control.
Core competencies are a firm's unique skills and abilities that distinguish it in the marketplace. They fulfill three criteria: provide access to markets, contribute significantly to customer benefits, and are difficult for competitors to imitate. The document discusses how core competencies facilitate strategy, innovation, and competitive advantage. It provides examples of companies like Apple, 3M, and Starbucks that have differentiated themselves through core competencies. The core competence model outlines how resources, capabilities, competitive advantage, and strategy are related. Management must identify and build upon a company's core competencies to develop successful long-term strategies.
corporate governance and role in strategic managementzeba khan
describes the concept of corporate governance along with need and benefits of corporate governance. highlights the role and importance of corporate governance in strategic management.
Porter's five forces framework analyzes competition within an industry by considering five competitive forces: the threat of new entrants, the threat of substitutes, the bargaining power of buyers, the bargaining power of suppliers, and rivalry among existing competitors. The five forces determine the profitability and attractiveness of an industry. An unattractive industry has forces that drive down overall profitability. Porter's five forces model originated from the work of Michael Porter at Harvard University.
Business process reengineering (BPR) seeks dramatic improvements in critical performance measures like cost, quality, service and speed through fundamentally rethinking and redesigning business processes. It requires taking a clean-sheet approach to processes rather than assuming current processes are optimal. Key steps involve selecting processes for reengineering, appointing cross-functional teams, understanding the current "as-is" process, developing and communicating a vision for an improved "to-be" process, identifying an action plan, and executing the plan through process simplification and standardization while removing non-value adding activities. Common challenges include processes being too broadly or narrowly defined, over-reliance on existing processes, and failure to align BPR with business objectives.
A virtual organization is a temporary network of independent organizations that use technology to coordinate work to achieve a common goal. It has no physical presence and relies on electronic communication. Key features include small partners, extensive IT use, shared ownership, flexibility, and geographically dispersed members. Successful virtual organizations require clear communication, performance standards, coordination between members, and support mechanisms for remote work.
The document discusses strategic intent and the balanced scorecard approach to strategic management. It defines strategic intent as the purpose and direction an organization aims to achieve. Key elements of strategic intent include vision, mission, goals, and objectives. These elements form a hierarchy with the vision at the top as the long-term goal, followed by the mission which articulates how the vision will be achieved, then specific goals and objectives with metrics to evaluate performance. The balanced scorecard framework translates strategic intent into objectives and measures across financial, customer, internal process, and learning/growth perspectives.
This document summarizes various aspects of organizational development (OD) efforts. It discusses that OD is a planned change approach that aims to improve organizational effectiveness and employee well-being through interventions at the task, structure, technology, or people levels. It is a long-term and ongoing process that relies on experiential learning and uses action research. Various OD interventions are outlined, including sensitivity training, team building, survey feedback, and process consultation. The key aspects and processes of different interventions like team building, survey feedback, and process consultation are also summarized.
The document discusses the strategic management process, which includes four main steps: environmental scanning, strategy formulation, strategy implementation, and strategy evaluation. Environmental scanning involves analyzing internal and external factors that influence an organization. During strategy formulation, organizations design resource acquisition plans and formulate strategies to achieve goals. Strategy implementation translates strategies into actions. Strategy evaluation regularly assesses strategies and performance to determine if corrections are needed.
This document outlines the key concepts around organizing and human resource management. It discusses the nature and purpose of organizing, including common objectives, division of labor, authority structures, communication, and coordination. It also defines organizing and describes different types of organization structures. The purpose of organizing is to facilitate management, increase efficiency, allow for growth, optimize resource use, and stimulate creativity. The outcome is for students to understand different organization types and the functions of human resources managers.
Management by Objectives (MBO) is a process where employees and supervisors jointly set goals, employees define their own goals and plans, and performance is evaluated based on achieving objectives. MBO aims to improve management by clarifying responsibilities, setting individual and organizational goals aligned with the overall strategy, and providing feedback. Key aspects of MBO include participative goal setting, explicit time periods for goals, and linking performance reviews to achieving objectives.
MBO is a management model that aims to improve organizational performance by clearly defining objectives agreed upon by management and employees. Employees set measurable personal goals based on organizational goals. MBO requires coordination of individual goals to work toward the overall organizational goal. Objectives are set for each level of the organization and employees are given specific targets and accountability. Performance is monitored periodically and employees are incentivized or reprimanded based on evaluations against objectives.
Management by objectives (MBO) is a systematic approach for aligning goals throughout an organization that was first outlined by Peter Drucker in 1954. MBO aims to increase performance by setting specific and measurable objectives for employees and evaluating their performance based on achieving those objectives. The MBO process involves managers and subordinates collaborating to set objectives, monitor performance, and provide incentives based on the results. MBO is intended to improve planning, communication, and focus employee efforts on achieving organizational goals.
Management by Objectives (MBO) is a comprehensive management system where managers and subordinates jointly set measurable and participative objectives. The MBO process involves 1) defining organizational goals, 2) setting employee objectives, 3) continuously monitoring performance, 4) evaluating performance, 5) providing feedback, and 6) conducting performance appraisals. MBO aims to increase employee involvement in planning and control which enhances commitment and performance.
Management by objectives (MBO) is a process where superiors and subordinates jointly set objectives and assess individual contributions to organizational goals. MBO integrates key managerial activities like setting organizational objectives, identifying result areas, establishing subordinate objectives, periodically reviewing performance, and providing feedback. The goals of MBO are to measure and relate individual performance to organizational goals, clarify job expectations, foster competence, enhance communication, and stimulate motivation. MBO employs techniques like objective setting, performance reviews, and participation in planning but is a philosophy rather than just a technique. It aims to match objectives and resources through an ongoing process.
Management by Objectives (MBO) is a strategic approach to enhance the performance of an organization.
It is a process where the goals of the organization are defined and conveyed by the management to the members of the organization with the intention to achieve each objective.
Management by exception is a business management strategy that states that managers and supervisors should examine, investigate and develop solutions for only those issues where there is a deviation from
set standards,
norms,
business practices,
or any other financial goals like profits deviation, quality issues, infrastructure issues, etc. instead of examining and dealing with each routine business activities.
This document provides an overview of management by objectives (MBO). It defines MBO as a process where managers establish objectives for their departments that are consistent with overall organizational goals. Key steps in the MBO process include setting specific and measurable goals, establishing review periods, and evaluating performance. The benefits of MBO include improved planning, accountability, and motivation of employees. Some limitations are that MBO can be time-consuming and require competent managers to implement successfully.
Management by Objectives (MBO) is a systematic process for setting performance goals and monitoring results. It was first outlined by Peter Drucker in 1954 and involves employees participating in goal setting for their roles. The key principles of MBO are aligning individual, team and organizational goals and providing ongoing feedback to achieve objectives. MBO aims to increase motivation, communication and performance by clarifying expectations. However, it requires objectives be carefully set and monitored to avoid unintended outcomes.
This document discusses Management by Objectives (MBO). MBO is a managerial system that integrates key activities like setting objectives, monitoring performance, and providing feedback toward effective goal achievement for organizations and individuals. It emphasizes setting short-term and long-term objectives, performance appraisal, and planning. The MBO process involves setting preliminary objectives at the top level and then clarifying roles and setting subordinate objectives, which are then recycled. Benefits of MBO include improved planning, accountability, participation, and feedback, while potential weaknesses are difficulties setting goals and overemphasis on short-term goals.
Management by objectives (MBO) is a strategic management model that aims to improve organizational performance by defining agreed upon objectives between management and employees. The MBO process involves: 1) defining organizational goals, 2) establishing employee objectives aligned with organizational goals, 3) continuously monitoring performance and progress, 4) conducting performance evaluations, 5) providing feedback, and 6) conducting performance appraisals. Benefits of MBO include improved role understanding, teamwork, communication, and goal alignment for employees. Limitations include potential disregard of organizational culture and overemphasis on goals versus employee development.
Management by Objectives (MBO) is a process where managers and their subordinates create clear objectives for subordinates that align with organizational goals. The MBO process involves setting organizational goals, defining employee objectives, monitoring performance, providing feedback, and conducting performance reviews. MBO aims to improve communication, motivate employees, and assess performance through the use of specific, measurable goals.
Management by Objectives (MBO) is a process where managers and employees agree on objectives together and employees have goals to work towards. It aims to make everyone clearly understand the organization's objectives and their own roles. Key aspects include cascading goals down the organization, setting specific objectives for each employee, periodic performance reviews, and rewarding employees based on achieving their goals. MBO focuses employees on results rather than activities and aims to motivate employees by involving them in the goal setting process.
Management by objectives (MBO) is a process where managers and employees jointly set objectives for employees' work and assess their performance against these objectives. It involves participative goal setting, choosing actions, and periodic performance reviews. MBO aims to align individual employee goals with organizational goals to improve planning, motivation, and performance management. However, some weaknesses include that goal setting can be time consuming and difficult, participation may be challenging, and it risks becoming too inflexible or pressure-oriented.
MBO is a process where managers and employees jointly identify common goals, employees set goals to achieve and standards to measure performance. The goals must be specific, measurable, achievable, relevant and time-bound. The MBO process involves defining organizational goals, employee objectives, continuous monitoring, performance reviews and evaluations. MBO motivates employees by involving them in goal setting, improves communication through frequent reviews, and holds individuals responsible for objectives. However, developing objectives and appraisals can be time consuming. It is also difficult to make comparative ratings and identify potential using MBO.
Management by Objectives (MBO) is a process where employees and supervisors jointly identify common goals, employees set goals to achieve, and performance is evaluated. MBO aims to ensure everyone understands organizational objectives and their role in achieving them. Key aspects of MBO include setting specific, measurable, attainable, realistic and time-bound (SMART) goals, periodic reviews, and rewarding employees based on goal achievement. MBO focuses employees on results rather than activities and creates clear linkages between organizational strategy and individual performance.
MBO (Management by Objectives) is a process introduced by Peter Drucker in 1954 where managers and subordinates jointly define goals, responsibilities, and measures for evaluating performance. The key aspects of MBO include participative goal setting between superiors and subordinates, periodic performance reviews, and rewarding employees based on goal achievement. MBO aims to align individual objectives with organizational goals to improve communication, motivation, and results.
MBO (Management by Objectives) is a process introduced by Peter Drucker in 1954 where managers and subordinates jointly define goals, responsibilities, and measures for evaluating performance. The key aspects of MBO include participative goal setting between superiors and subordinates, periodic performance reviews, and rewards based on goal achievement. MBO aims to align individual objectives with organizational goals to improve communication, motivation, and results.
Management by Objectives (MBO) is a process introduced by Peter Drucker in 1954 where managers and subordinates jointly define goals, responsibilities, and measures for evaluating performance. The key aspects of MBO include participative goal setting between superiors and subordinates, periodic performance reviews, and rewarding individuals based on achieving objectives. MBO aims to align individual goals with organizational goals to improve communication, motivation, and results.
The document discusses objectives and decision making. It defines objectives and describes the characteristics and types of business objectives. It also outlines the management by objectives (MBO) cycle, which involves defining organizational and employee objectives, continuous monitoring, performance evaluation, feedback, and performance appraisal. Finally, it describes the seven steps of the decision making process: identify the decision, gather information, identify alternatives, weigh the evidence, choose among alternatives, take action, and implement the decision.
Talent management refers to the skills of attracting highly skilled workers, of integrating new workers, and developing and retaining current workers to meet current and future business objectives.
Network analysis techniques such as critical path method (CPM) and program evaluation and review technique (PERT) can be used to plan, manage, and control projects. CPM involves identifying all activities, their durations, and their logical sequence or precedence relationships using a network diagram of nodes and arrows. It allows determining the critical path that dictates the minimum project duration and identifying any activities that could delay the project if they slip. PERT extends CPM by using three time estimates per activity to model the uncertainty in activity durations through probability distributions.
The document discusses three main economic systems - capitalism, socialism, and mixed economies. Capitalism relies on private ownership and market forces, while socialism involves state ownership and central planning. Most countries have mixed economies that incorporate aspects of both systems, with private and public sectors operating side by side. The US and Canada are provided as examples of capitalist economies, while India has established a mixed economy with strategic industries controlled by the government and others left to private enterprise.
3 c's and 4c's plays very important role in any business in its management as well as in marketing. This presentation shows how to implement these factors to success your business.
Do you know what is your personality type and what role emotions play in one's personality.
This presentation helps you to explore all the personality types.
Learn the process of Research.
Research process consists of a series of actions or steps necessary to carry out research. It guides a researcher to conduct research in a planned and organized sequence.
This presentation includes all the factors about Supply
"The law of supply states that, other things equal, the quantity supplied of a good rises when the price of the good rises. "
The document discusses the key aspects of planning including defining it as selecting missions, objectives and actions to achieve them. It requires decision making by choosing among alternative future courses of action. Planning provides a rational approach to preselected objectives. The levels of planning include strategic, tactical, and operational. Forecasting is also an important part of planning to predict future needs. Qualities of a good plan include providing a workable solution that meets objectives while minimizing risks. Types of plans discussed are standing plans, single use plans, and day-to-day planning.
What is a Project and Project Management? This presentation helps you to gain more knowledge about how to manage a project and helps in understanding the Project Life Cycle.
Brian Fitzsimmons on the Business Strategy and Content Flywheel of Barstool S...Neil Horowitz
On episode 272 of the Digital and Social Media Sports Podcast, Neil chatted with Brian Fitzsimmons, Director of Licensing and Business Development for Barstool Sports.
What follows is a collection of snippets from the podcast. To hear the full interview and more, check out the podcast on all podcast platforms and at www.dsmsports.net
How to Implement a Real Estate CRM SoftwareSalesTown
To implement a CRM for real estate, set clear goals, choose a CRM with key real estate features, and customize it to your needs. Migrate your data, train your team, and use automation to save time. Monitor performance, ensure data security, and use the CRM to enhance marketing. Regularly check its effectiveness to improve your business.
The 10 Most Influential Leaders Guiding Corporate Evolution, 2024.pdfthesiliconleaders
In the recent edition, The 10 Most Influential Leaders Guiding Corporate Evolution, 2024, The Silicon Leaders magazine gladly features Dejan Štancer, President of the Global Chamber of Business Leaders (GCBL), along with other leaders.
Discover timeless style with the 2022 Vintage Roman Numerals Men's Ring. Crafted from premium stainless steel, this 6mm wide ring embodies elegance and durability. Perfect as a gift, it seamlessly blends classic Roman numeral detailing with modern sophistication, making it an ideal accessory for any occasion.
https://rb.gy/usj1a2
B2B payments are rapidly changing. Find out the 5 key questions you need to be asking yourself to be sure you are mastering B2B payments today. Learn more at www.BlueSnap.com.
Event Report - SAP Sapphire 2024 Orlando - lots of innovation and old challengesHolger Mueller
Holger Mueller of Constellation Research shares his key takeaways from SAP's Sapphire confernece, held in Orlando, June 3rd till 5th 2024, in the Orange Convention Center.
Building Your Employer Brand with Social MediaLuanWise
Presented at The Global HR Summit, 6th June 2024
In this keynote, Luan Wise will provide invaluable insights to elevate your employer brand on social media platforms including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok. You'll learn how compelling content can authentically showcase your company culture, values, and employee experiences to support your talent acquisition and retention objectives. Additionally, you'll understand the power of employee advocacy to amplify reach and engagement – helping to position your organization as an employer of choice in today's competitive talent landscape.
Navigating the world of forex trading can be challenging, especially for beginners. To help you make an informed decision, we have comprehensively compared the best forex brokers in India for 2024. This article, reviewed by Top Forex Brokers Review, will cover featured award winners, the best forex brokers, featured offers, the best copy trading platforms, the best forex brokers for beginners, the best MetaTrader brokers, and recently updated reviews. We will focus on FP Markets, Black Bull, EightCap, IC Markets, and Octa.
Zodiac Signs and Food Preferences_ What Your Sign Says About Your Tastemy Pandit
Know what your zodiac sign says about your taste in food! Explore how the 12 zodiac signs influence your culinary preferences with insights from MyPandit. Dive into astrology and flavors!
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This presentation is a curated compilation of PowerPoint diagrams and templates designed to illustrate 20 different digital transformation frameworks and models. These frameworks are based on recent industry trends and best practices, ensuring that the content remains relevant and up-to-date.
Key highlights include Microsoft's Digital Transformation Framework, which focuses on driving innovation and efficiency, and McKinsey's Ten Guiding Principles, which provide strategic insights for successful digital transformation. Additionally, Forrester's framework emphasizes enhancing customer experiences and modernizing IT infrastructure, while IDC's MaturityScape helps assess and develop organizational digital maturity. MIT's framework explores cutting-edge strategies for achieving digital success.
These materials are perfect for enhancing your business or classroom presentations, offering visual aids to supplement your insights. Please note that while comprehensive, these slides are intended as supplementary resources and may not be complete for standalone instructional purposes.
Frameworks/Models included:
Microsoft’s Digital Transformation Framework
McKinsey’s Ten Guiding Principles of Digital Transformation
Forrester’s Digital Transformation Framework
IDC’s Digital Transformation MaturityScape
MIT’s Digital Transformation Framework
Gartner’s Digital Transformation Framework
Accenture’s Digital Strategy & Enterprise Frameworks
Deloitte’s Digital Industrial Transformation Framework
Capgemini’s Digital Transformation Framework
PwC’s Digital Transformation Framework
Cisco’s Digital Transformation Framework
Cognizant’s Digital Transformation Framework
DXC Technology’s Digital Transformation Framework
The BCG Strategy Palette
McKinsey’s Digital Transformation Framework
Digital Transformation Compass
Four Levels of Digital Maturity
Design Thinking Framework
Business Model Canvas
Customer Journey Map
Part 2 Deep Dive: Navigating the 2024 Slowdownjeffkluth1
Introduction
The global retail industry has weathered numerous storms, with the financial crisis of 2008 serving as a poignant reminder of the sector's resilience and adaptability. However, as we navigate the complex landscape of 2024, retailers face a unique set of challenges that demand innovative strategies and a fundamental shift in mindset. This white paper contrasts the impact of the 2008 recession on the retail sector with the current headwinds retailers are grappling with, while offering a comprehensive roadmap for success in this new paradigm.
How MJ Global Leads the Packaging Industry.pdfMJ Global
MJ Global's success in staying ahead of the curve in the packaging industry is a testament to its dedication to innovation, sustainability, and customer-centricity. By embracing technological advancements, leading in eco-friendly solutions, collaborating with industry leaders, and adapting to evolving consumer preferences, MJ Global continues to set new standards in the packaging sector.
At Techbox Square, in Singapore, we're not just creative web designers and developers, we're the driving force behind your brand identity. Contact us today.
Best practices for project execution and deliveryCLIVE MINCHIN
A select set of project management best practices to keep your project on-track, on-cost and aligned to scope. Many firms have don't have the necessary skills, diligence, methods and oversight of their projects; this leads to slippage, higher costs and longer timeframes. Often firms have a history of projects that simply failed to move the needle. These best practices will help your firm avoid these pitfalls but they require fortitude to apply.
Understanding User Needs and Satisfying ThemAggregage
https://www.productmanagementtoday.com/frs/26903918/understanding-user-needs-and-satisfying-them
We know we want to create products which our customers find to be valuable. Whether we label it as customer-centric or product-led depends on how long we've been doing product management. There are three challenges we face when doing this. The obvious challenge is figuring out what our users need; the non-obvious challenges are in creating a shared understanding of those needs and in sensing if what we're doing is meeting those needs.
In this webinar, we won't focus on the research methods for discovering user-needs. We will focus on synthesis of the needs we discover, communication and alignment tools, and how we operationalize addressing those needs.
Industry expert Scott Sehlhorst will:
• Introduce a taxonomy for user goals with real world examples
• Present the Onion Diagram, a tool for contextualizing task-level goals
• Illustrate how customer journey maps capture activity-level and task-level goals
• Demonstrate the best approach to selection and prioritization of user-goals to address
• Highlight the crucial benchmarks, observable changes, in ensuring fulfillment of customer needs
2. What is MBO?
• Management by objectives (MBO) is a systematic and
organized approach that aims to increase organizational
performance by aligning goals and subordinate
objectives throughout the organization.
• It allows management to focus on achievable goals and
to attain the best possible results from available
resources.
• One of the concepts of MBO is that all managers should
participate in the strategic planning process for better
implementation of plans. It includes ongoing tracking
and feedback in the process to reach objectives.
3. Origin of the MBO Concept:
• MBO was first outlined by Peter Drucker in 1954 in his
book 'The Practice of Management'.
• Since the book introduced the concept, MBO has been
accepted and implemented in many businesses like:
General Motors,
General Electrics,
General Foods, etc
4. Core Concept of MBO:
According to Drucker managers should "avoid the activity
trap", that is, getting so involved in their day to day activities
that they forget their main purpose or objective.
MBO is primarily a tool for strategic planning, employee
motivation, and performance enhancement.
It intends to improve communication between employees and
management, increase employee understanding of company
goals, focus employee efforts upon organizational objectives,
and provide a concrete link between pay and performance.
The emphasis is on the results achieved by employees
rather than the activities performed in their jobs.
5. Basic Principles of MBO:
Unity of management action is more likely to occur
when there is pursuit of a common objective.
The greater the focus on results on a time scale, the
greater likelihood of achieving them.
The greater the participation in setting meaningful
work with accountable results, the greater the
motivation for completing it. These call for:
Clarification Specific
Participative Explicit Performance
of objectives Decision time Evaluation
Organization for each Making and feedback
al objectives period
member
6. Applications of MBO:
• The MBO concept is appropriate for knowledge-based
enterprises where staff is competent.
• Appropriate in situations where one wishes to build;
employees' management and self-leadership skills
and tap their creativity, tacit knowledge and initiative.
• Used by Chief Executives of Multinational Corporations
for their country managers abroad.
8. Process of MBO:
Setting Objectives
Setting Employees’ Targets
Monitoring Performance
Evaluating Performance
Performance based Incentives
9. Setting Objectives:
• In MBO systems, objectives are written down for each
level of the organization, and individuals are given
specific aims and targets.
• It provides focus and emphasizes on team and
individual targets in congruance with organizational
goals.
• For MBO to be effective, individual managers must
understand the specific objectives of their job and how
those objectives fit in with the overall company
objectives set by the Board of Directors.
10. Setting Employees’ Targets:
• The management has to set the targets for each
employee and outline their accountability for the timely
fulfillment of the same.
• Thus, the organizational goals are bifurcated into
individual objectives and targets.
• A successful MBO program requires each employee to
produce five to ten specific, measurable goals.
• Each target should be supported with a means of
measurement and a series of steps toward completion.
• These targets should be proposed to the employee's
manager in writing, then discussed and approved.
11. Monitoring and Evaluating Performance:
• To monitor the performance of employees in pursuit of
the targets assigned to them, a proper review system
and Management Information System has to be
designed and made operational.
• Periodical and strict performance appraisals form a
crucial part of the MBO process. Actual Performance is
compared to the standards and employees are
appraised accordingly.
12. Performance Based Incentives:
• The performances of employees at all levels of
management are assessed and evaluated and based on
the same, performance incentives are given to
employees. These incentives can be:
Negative Incentives
Positive incentives
Reprimand
Rewards
Fines and penalties
Bonus
Warnings
Promotions
Retrenchment
13. Advantages of MBO:
Better utilization of resources,
Aid in Planning,
Development of personnel,
Better Team Work,
Concentration on Key Result Areas,
Objective Evaluation,
Result Orientation,
Sound Organizational Structure.
14. Disadvantages of MBO:
Incurs Time & Cost,
Failure to teach MBO Philosophy to employees,
Problems in Objective setting,
Emphasis on short-term objectives,
Inflexibility,
Frustration of employees.
15. Strengths of MBO:
• One of the best reviews on the strengths of MBO programs is
reported by Henry J.Tosi and Stephen J. Carroll. They opine:
• MBO stresses collaborative efforts between managers and
subordinates which aids in planning.
• MBO lets subordinates know what is expected of them by
forcing managers and subordinates to establish attainable
objectives within specified periods of time.
• MBO improves communication between managers and
subordinates and makes individuals cognizant of
organizational objectives and goals.
• MBO improves the performance review and evaluation
process by focusing on results and by providing systematic
feedback.
16. MBO at Hyundai Motors:
• Like many organizations, Hyundai Motors applies the
concept of MBO in their managerial spans.
• Annual, quarterly and weekly targets are determined for
employees at all levels of the organization and various
constraints and performance measurement criteria are
explained to them.
• Periodical reviews are done to evaluate the degree of
achievement of employees’ targets and their congruance
with the organizational goals.
• Hyundai Motors incentivizes employees’ performances
through non - monetary rewards and punishments.
18. What is MBE?
• Management by Exception (MBE) is a "policy by
which management devotes its time to investigating
only those situations in which actual results differ
significantly from planned results.’’
• The concept of MBE was propounded by:
Frederick Winslow Taylor.
• Attention and priority is given only to material
deviations requiring investigation and correction. It is
a part of motivational and control techniques.
• Its objective is to facilitate management's focus on
really important tactical and strategic tasks.
19. Significance of MBE:
• Proper and timely decision making and appropriate
flow of action and employees’ activities.
• Better utilization of managers’ time by bringing to their
attention only those conditions that appear to need
managerial action.
• Easy identification of discrepancies.
• Benefit to customers since MBE makes it easier for the
business to grow and improve its service rather than
use valuable resources on routine tasks.
20. Types of Exceptions:
• There are two types of exceptions which are identified
and managed through MBE:
Problems Below Opportunities Above
standard standard
performance performance
and results. and results.
Need to be strategized and Need to be identified and
solved in time. tapped.
21. Process of MBE:
Identifying and specifying Key Result Areas (K.R.A.s)
Setting standards and outlining permissible deviations, especially for K.R.A.’s
Comparing actual results with the standards
Computing and analyzing deviations
Identifying non - permissible, that is, critical deviations in K.R.A.s
Strategizing and taking corrective actions
22. Variance Analysis and Management By
Exception:
• Variance analysis and performance reports are
important elements of MBE.
• MBE aims at directing the managers’ attention towards
those parts of the organization where plans are not
working out for one reason or another.
• If actual results do not conform to the budget and to
standards, the performance reporting system sends a
signal to the management that an "exception" has
occurred.
23. Material Variances:
• Variances may and do occur for a variety of reasons. But,
only some of them are significant and warrant
management attention and action.
• The materiality of a variance may be determined by:
the size of a variance.
the size of the variance relative to the amount of spending
involved.
Plotting variance on a Statistical Control Chart.
24. Statistical Control Chart
• Some random fluctuations in variances from period to
period are normal and to be expected even when costs
are well under control.
• A variance should only be investigated when it is
unusual relative to the normal level of random
fluctuation.
• Typically the standard deviation of the variance is used
as the measure of the normal level of fluctuations.
• A rule of thumb is adopted such as "investigate all
variances that are more than X standard deviations from
zero, where X is the permissible Standard deviation.’’
25. Statistical Control Chart
Above
- plus
Favorable one
Plus
- - one
Permissible
S.D. Zero
(+1 to - 1) S.D. of
the
Minus Variance
- one
Below
Unfavorable minus
- one
1 2 3 4 5
Weeks
26. MBE At Cisco Systems:
Cisco Systems is a Multinational Corporation with its Headquarters
in San Jose, California. It designs and sells consumer electronics,
networking, voice, and communications technology and services.
Cisco's network of contract manufacturers, component suppliers
and distributors for its Internet Routers business are linked through
Cisco's extranet to form a virtual, just-in-time supply chain.
Application of MBE:
When a customer orders a router through Cisco's website, the order
triggers a flurry of messages to contract manufacturers of printed
circuit board assemblies.
Meanwhile, component suppliers are alerted to supply the generic
components of the router, such as a power supply.
27. MBE At Cisco Systems: Continued
Soon after the contract manufacturers reach into Cisco's extranet, the
extranet starts looking around the contractor's assembly line to make
sure everything is in order.
Factory assemblers slap a bar code on the router, scan it and plug in
cables that simulate those of a typical corporate network.
One of those cables is a fire hose for Cisco's automated testing
software. It looks up the bar code, matches it to a customer's order and
then probes the nascent router to see if it has all the ports and memory
that the customer wanted.
If everything checks out and only then - Cisco's software releases the
customer name and shipping information so that the subcontractor can
get it off the shop floor.
The chain runs itself until there's a problem, in which case the system
alerts some employee to fix the problem. Nothing needs to be done
unless there is something wrong.
Cisco Systems, Inc. (NASDAQ: CSCO, SEHK: 4333) is a multinational corporationheadquartered in San Jose, California, that designs and sells consumer electronics, networking, voice, and communications technology and services. Cisco has more than 70,000 employees and annual revenue of US$ 40.0 billion as of 2010. The stock was added to the Dow Jones Industrial Average on June 8, 2009, and is also included in the S&P 500 Index, the Russell 1000 Index, NASDAQ 100 Index and the Russell 1000 Growth Stock Index.[5]