Management by objective was primarily focused on organisation and includes planning of objectives for the organization by dividing it into smaller manageable divisions/groups. Every division has a set of objectives which are further broken down to individual objectives. This strategy is effective for setting up goals and achieving desired outcomes for almost every type of entity ranging from large organisations to small businesses, entrepreneurs and individuals. It helps in positive and desired outcomes by following realistic timelines and keeps a check on the plan in real time.
Management by objectives enables organisations to make a collective approach in decision making by integrating suggestions from managers and employees. This helps in more motivated employees and better productivity. Management by objectives is an ideal blend of top down and bottom up approach in management.
The steps involved in management by objectives process are as follow.
- The Initial step is to locate and set realistic and achievable goals.
- Once the goals are set, actions required to accomplish these goals are identified.
- The third step involves the formulation of logical relationship between different actions and the time in which they are carried out.
- After formulating different relationships the total Time required and cost is evaluated
- Finally, required resources are determined.
Management by Objectives is actually a course of action, the components of which are employed on each action within your Strategy. With this sort of control, you will have focus, track, and a substantial edge against your competitors. Take advantage of this robust resource to assist your small business surpass your expectations.
Benefits of Management by Objectives –
- Management by objectives helps in better management as it encourages the managers to presume the course of actions for accomplishing a certain goal. The manager is responsible for fixing the objective, finding the right course of action and also determining the resources required for the goal. Once everything is set, manager keeps an eye on the whole process to ensure safe and sound execution of the planned strategy.
- Employing the concept of management by objectives helps in a unified decision making process and encourages unity amongst employs. This also helps centre all the employees at different levels if organisation with the same focus of action.
- Organisations and businesses using Management by objectives have a comparatively lesser issues and conflicts within employees as compared to other businesses working on other models.
It has been proven that only 3% of people who set goals actually achieve them. The key reason behind such poor rate is the lack of management and proper focus. Modern man is too busy to stay focused on his goals. Objectiveli was founded with an aim to provide individuals, businesses and organisation with a simple and interactive solution which can help them organise, follow and accomplish their goals in real time. Objectiveli is an outcome driven real time web application which is based on the principles of Management by Objectives.
Embrace the power of objectively and implement management by objectives to get the success you deserve. Visit http://objectiveli.com for more information.