What Is Management By Objectives And Its Advantages And Disadvantages?

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What Is Management By Objectives And Its Advantages And Disadvantages?

10 Answers

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Answer 1

It is an modern method of performance appraisal.in simple words management by objective is an process by which they see an organisational goals and one who do there work best is apprised not only the workers but management as well. So we can write process as:
Set organisational goal - joint goal setting - performance review - set check posts - feed back.
So in conclusion we may say it has three foundations:
Goal setting
feedback
participation

Advantages:
1.) Helps and increases employees motivation.
2.) Managers are more likely to compete with other manager.
3.) It reduces conflicts and ambiguity.
4.) It leads to good Planning.
5.) Identify problems.
6.) Develop leadership qualities.

Disadvantages:
1.) Failure to give guidelines to goals.
2.) Danger of inflexibility.
3.)Failure to teach philosophy of MBO.
4.) Managers compitition may lead to tug of war.

Answer 2

Management by objectives is a concept of management that has become very famous over the years. It is the process of setting an agreeable objective by the mutual understanding of management and employees and then working for its achievement. The advantages are:
- Involvement of all the employees.
- Employees are motivated and work together.
- Collective contribution towards goals
Disadvantages are:
- Objectives can be misleading and short term.
- System might not have the capabilities required for MBO.
- Organizational culture might not accept it.

Answer 3

:Advantages of Management by Objectives
1.) Helps and increases employees motivation.
2.) Managers are more likely to compete with other manager.
3.) It reduces conflicts and ambiguity.
4.) It leads to good Planning.
5.) Identify problems.
6.) Develop leadership qualities.

Disadvantages:
1.) Failure to give guidelines to goals.
2.) Danger of inflexibility.
3.)Failure to teach philosophy of MBO.
4.) Managers competition may lead to tug of war.

Answer 4

Management by objective is a philosophy of management by which every managerial activity must be directed at a specific objective

Answer 5

MBO or Management By Objectives is a thorough and meticulous management process that is accoutred with all those main activities that are completely and consciously directed towards the efficient and effective achievement of objectives, both on an individual basis as well as a collective basis.

In addition to that, this very approach comprises of a number of steps. Firstly the highest level involves setting goals and objectives. Secondly it deals with clarification of roles to those individuals who are working on the very project and are responsible for accomplishing it. Next comes the step of setting smaller objectives for the people at the sub-ordinate level of the organization who intend to adopt the procedure of MBO. Projects can be both verifiable (quantitative) and also they could be non-verifiable (qualitative) for line managers as well as for other personnel of the organization who are also connected to the process of Management By Objectives.

Answer 6

Anonymous answered

Management by objective is process by which managers work towards one objectives and its achievement

Answer 7

Besides its share of advantages, MBO has its account of drawbacks to accompany the benefits that it offers.

For starters, the dearth of clarity in defining the philosophy of MBO encumbers for organizations to gain acumen about the theme of its philosophy, without which they couldn't gain full utility out of the approach.

Another major setback is the approach's failure to give any clear-cut guidelines and goal-setters for the phase of implementation as well as the phase of strategizing. Besides that, there is no strategy in MBO for altering obsolete goals and changing them to new ones that adapt to the current environment. This becomes a major issue for the contemporary times as advancements have become a workaday happening.

Furthermore the goals that are designed through MBO are usually short-term rather than long-term, which is another disadvantage. In addition to that, while giving attention to verifiable goals (qualitative), the process ignores quantitative (non-verifiable) goals, which is another negative point of the MBO.

Answer 8

Also, these goals put an employee's mind in one track. This means that the employee will only be focused on these goals and any new ideas or improvements can be missed because the employee will be focused just on the goals set through MBO.

Answer 9

I m not sure that my answer will satisfy you....still I tried...
Objectives of business firm would be profit maximisation ,increasing market share, minimisation of loss, building its image in a market etc.

Answer 10

Being a comprehensive process that deals with the key activities of a business to achieve effectiveness and efficiency, Management By Objectives definitely has myriad benefits to claim in terms of business success.

For one, the approach enables the management of the organization to ameliorate on an individual (regarding their personal growth) as well as on a collective front (regarding their contribution in the growth of the organization).

Another factor that MBO brings and that could be classified as a benefit is the entrenchment of the organization structure in such a way that everyone connected with the organization manages to develop perspicacity about it.

Moreover the degree of personal commitment elevates enormously, benefiting both the organization as well as the personnel. The level of personal commitment brings an enhancement in business operations and results as well as the work atmosphere of the organization in terms of building strong ties between the employees of the company.

Lastly besides the excellent accomplishment of the planning mechanism, the effectiveness of the control methodology bolsters as a result too, both of the systems being complements of each other, with one being incomplete and futile without the other one.