Business & Industry Future

Objectives Management - Presentation Transcript

1. Management By Objectives

2. managing an organization effectively requires the formulation of clear objectives . Objectives serve as guidelines or road lines or roadmaps for managerial efforts and action. Well thought objectives steers an organization to success.

3. Heinz Weihrich and Harold Koontz define management by objectives as “ a systematic manner and that is consciously directed toward the effective and efficient achievement of organizational and individual objectives.”

4. An objective is a goal or an idea that an organization or an individual aims at or strives to attain. A supervisor of a team sets the objectives and decides the process by which these objectives can be achieved . Objectives provides a direction for the organization and specify the quantity and quality of work to be accomplished within a given period of time. Objectives determine what individuals, groups , and organizations are expected to accomplish.

5. Relationship of objectives and organizational Hierarchy Level of organizational Hierarchy Board of Directors and top Level managers Middle level managers Lower level managers Types of objectives Socio economic purpose Mission Overall objectives of the firm Objectives in the Key result areas

o Productivity

o Physical and financial resources.

o Profitability and market standing.

o Innovation.

o Managerial performance and attitude.

o Social responsibility.

o Quality and service issues.

Divisional objectives Departmental objectives Department and unit objectives Objectives of subordinates

o Performance goals

o Development goals.

Top down approach Bottom – up Approach

6. A Network Of Objectives

7. Objectives and planning programs are co-existential and co relational. They support one another to form a network of expected outcomes and results. If the objectives are not linked with each other and if they do not support one another, it is possible that individuals...