Management by objectives: Everything you need to know

Management by objectives!!

When Paul Meyer said that “Productivity is never an accident. It is the result of a commitment to excellence, smart planning, and serious effort”. let me ask you a question: Which is the biggest resource a person can have? If your answer is people, then congratulations!!!! You have a leadership mindset. growing with the team will always benefit you. you can move rocks and mountains if you take yourself with a team, you can achieve anything in life when you grow with others.

When you start taking a little more than his share of the blame and a little less share of the credit.

Well, all this can be achieved when a company or management of a company has an objective with them and that objective can only be completed if your resource mate or employees knows about your objective.it is all about motivating others to achieve your target and that management skill comes with proper planning and execution. Just imagine you are going trekking but without a roadmap and necessary items will you be able to achieve the destination? Will your friends or team you are traveling with will have trust in you? will they commence their journey with you? These many questions and has only one answer that is No.

Management without an objective is a man without a future. When you lead a company and organization you must let your employees or office family know about the objective and what the company expects in return. when we specify those goals we are on a successful path.

Let’s define the exact management of objective?

Management by objective may look like a new word for you but this word is used for ages. From business tycoon Ratan Tata to India’s former captain MS Dhoni all have followed certain objective and management principal which has led them to successful career. MBO (management objective) which is the secretion of concrete objective + commitment +teamwork gives a successful result.

MBO is an approach for managers to get used to the most out of their employees. The process of creating linear concrete goals for an employee to achieve for the betterment of an organization.

Purpose of MBO

Well, it ensures that office family gets clear instruction on their roles and responsibility and they must also be guided with their contribution towards their company which may lead to the good health of an organization. when one knows about the clear objective he may give his best shot to make that happen. apart from clarity, it will also lead to taking ownership of those responsibilities which may lead the organization to reach its mission.

The true business is the one in which true transparency makes work more easier. few businesses are operating where a person from one department does not know what he is working for this leads to fewer chances of succeeding. Employees start feeling demotivated when they don’t know what their organization is doing which may lead to the fall of the organization and will lead to? on transparency and accountability.

Advantages and Disadvantages of Management by Objectives

Every management has certain pros and cons and when it comes to management by objectives. Let’s have a look:

• Trump card of Management by Objectives
• They will understand and appreciate their impact as individuals on the company and as a whole.
• Beliefs are clearly mentioned and communicated based on Key Result Areas (KRA) to every employee.
• They understand every angle of success and work on them to achieve to reach it.
• Teambuilding activities increase and improve and decreases blaming game. They come to know their responsibilities and tasks.
• They start feeling important and every important asset for their organization which leads to a major impact on the company’s growth.

The drawbacks of Management by Objectives

• Even though MBO has a certain advantage and most probably the managers may totally depend on these objectives for the task but it may lead to an unmeasurable path and also overemphasized task which will create chaos sometimes. these goals must be regulated regularly so that with time it is updated and be in focus. 
• Henceforth, management by objectives will definitely help your organization to move in the correct direction, moreover, it is not a cure to every challenge of your organization which it faces regularly. 
• Ways to inculcate the incorporate Management by Objectives into Your Organization.
• Everything in life happens for a reason and these steps and tips will bring better clarity to the management of an organization.

Management by Objectives Steps

Establish the Goals

How will you like to see an organization when it can achieve in whole, and what will be the deadline? The way you are going to implement these goals and how are you going to implement them in your organization?

Establish and channelize companies goal :

What are the ways you will make your office family responsible which will make closer towards goals of an organization? This will make you keep track of goals and objectives.

Watchdog their progress with proper monitoring

Check on your employees’ performance on a regular basis with certain parameters. are they completing those targets which are assigned to them and check their duration? Are they motivated towards this goal and objective?

Monitor based on their Performance

It will give you a certain level of satisfaction when you come across their completion of work, moreover, it’s very important to speak with them about how they’re doing with them. 

Regular performance reviews of your employees will also help them to reach their individual growth.

Outfit with Feedback

Make incorporating management and objectives into your company culture and future history. You may feel happy with how well your employees will take this new system and once they adapt and understand your expectations they will make the company into the best organization.