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Goals & objective
- 2. TOPICS Management Functions Goals and Objectives Setting Goals Effectively Management by Objectives(MBO) Group Members: I. Engr.Syed Wasif Azim Rizvi II. Engr.Muhammad Bilal III. Engr.Mustanser Hussain
- 3. Prophet Muhammad (Peace Be Upon Him) said: “Each of you is a shepherd, and all of you are responsible for your flocks.” (Saheeh Al-Bukhari, Saheeh Muslim)
- 4. Management Management refers to the tasks and activities involved in directing an organization or one of its units: planning, organizing, leading, and controlling. The process of reaching organizational goals by working with and through people and other organizational resources.
- 6. Planning Planning involves tasks that must be performed to attain organizational goals, outlining how the tasks must be performed, and indicating when they should be performed.
- 7. Organizing Process of deciding where decisions will be made, who will perform what jobs and tasks, and who will report to whom in the company Includes creating departments and job descriptions Finance Manager HR Manager Production Manager CEO
- 8. Leading Getting others to perform the necessary tasks by motivating them to achieve the organization’s goals. Objective is to improve productivity Crucial element in all functions.
- 9. Controlling Process by which a person, group, or organization consciously monitors performance and takes corrective action.
- 10. Goals & Objectives Goals and objectives are a critical component of management. Tell you if you and the organization are on the right track.
- 11. Goals Provide the foundation for measurement. Define what an organization is trying to accomplish. A collection of related programs. A reflection of major actions of the organization.
- 12. Objectives Very precise, time-based and measurable actions that support the completion of a goal. Must be related directly to the goal Be clear, concise, and understandable Stated in terms of results. Specify a date for accomplishment Be measurable.
- 13. “Leadership is working with goals; management is working with objectives.” Russel Honore
- 14. Goals and Objectives in P-O-L-C Goals and objectives are an essential part of planning. Also have cascading implications for all the aspects of organizing, leading, and controlling.
- 15. Goals, Objectives, and Planning Planning typically starts with a vision and a mission. Then managers develop a strategy for realizing the vision and mission Achieving vision and mission will be indicated by how well the underlying goals and objectives are achieved.
- 17. Goals, Objectives, and Organizing, Leading, and Controlling Obviously, the role of goals and objectives does not stop in the planning stage. If goals and objectives are to be achieved and actually improve the competitive position of the firm, then the organizing, leading, and controlling stages must address goals and objectives as well.
- 18. Continue… The way that the firm is organized can affect goals and objectives in a number of ways. In terms of leadership, it is usually top managers who set goals and objectives for the entire organization. Finally, goals and objectives can provide a form of control, regarding how well or how poorly the organization executes its strategy.
- 19. P-O-L-C Framework In terms of planning-organizing-leading-controlling (P-O-L-C) framework.
- 20. Management Goals Employee Motivation Customer Satisfaction Increased Profit
- 21. Setting Goals Effectively The process of setting goals effectively should be a collaborative process between an employee and his manager. Whether writing long- or short-term goals, the most widely-used framework is S-M-A-R-T.
- 22. S-M-A-R-T Specific: Well-defined to inform employees exactly what is expected, when, and how much. Measurable: means you are able to determine or figure out that you have hit your target. Attainable: means it's not just a dream, but your goal is within reach. Realistic: means it's possible to do the task within a fixed amount of time. Time-bound: Establish enough time to achieve the goal, but not too much time to undermine performance.
- 24. Definition: Management By Objectives (MBO) can be defined as a process whereby the employees and the superiors come together to identify common goals, the employees set their goals to be achieved, the standards to be taken as the criteria for measurement of their performance and contribution and deciding the course of action to be followed.
- 25. Concept of MBO Developed by Peter Drucker Most widely accepted Philosophy of Management Democratic style of Management Better than Classical Theory of Management
- 26. Concept of MBO Superiors and Sub-ordinates managers jointly define common goals Together decide about their areas of responsibility and expected results. They use these measures as guides for operating the unit and assessing the contribution of each of its member.
- 27. MBO Process: Define Organizational Goals Define Employee Objectives Continuous Monitoring of Employee Performance and Progress Evaluate Performance Reward Employee
- 29. Advantages of MBO : Develops result-oriented Philosophy Raises Employee’s morale Acts as a motivational Source Facilitates Effective Planning Improves the Quality of Management
- 30. Limitations of MBO : Time Consuming Reward Punishment Approach Creates Organizational Problems Develops Conflicting Objectives New opportunities might lose.