Management is principally a task of planning, co-ordinating, motivating and controlling the efforts of others towards a specific objective. It is well known that each and every employee of an organization has a critical role in reaching a company’s objective. The objectives of management are survival, profit and growth of an organization. Management by objectives (MBO) is a strategic management model that aims to improve organizational performance by clearly defining objectives that are agreed by both the management and employees unanimously. It is a process where the goals of the organization are defined and conveyed by the management to the members of the organization. Three types of objectives used in MBO are improvement objectives, personal development objectives and maintenance objectives. Companies that use MBO frequently report better sales rate and productiveness within the organization. Objectives can be set in all domains of activities, such as production, marketing, services, sales, R&D, human resources, finance, and information systems.

Gayatri Vivek

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