Assignment

On
Principle and practice of
Management

Prepared By:
Gurbachan Singh
PGP 1-A
MBO………………
Management :
Management by objectives (MBO) is a
systematic and organized approach that allows
management to focus on achievable goals and to attain
the best possible results from available resources.
Management by Objectives (MBO) was first outlined
by Peter Drucker in 1954 in his book 'The Practice of
Management'.
According to Drucker “manager should activity trap”.
They generally get involved in their day to day life,
instead of considering their long term or main
objective of their organization.
“Instead of just a few top managers, all managers
should” Means the future forecasting should not been
rely on the top management.
Principle of improvement:
If Kavita wants to implement the MBO in her
organization then the main objective should be to
make the future of an organization better than in the
past.
1.Principle of expectation:
   For the success of the MBO in the Organization Ms.
Kavita should set an incentive or extra remuneration
plan for the achieving specific goal or target within the
stipulated time frame.
2.Principle of strategic planning:
To meet the organization’s goal with implementing
the MBO within a proper strategic planning based on
the future effect.
3.Principle of Targeting:
Ms Kavita must delegates responsibilities and
authorities to particular employees targeting specific
goal with efforts within specific time frame.
4.Principle of accountabilities:
Every employee must be accountable for his
participation and the contributions and the
responsible for his acts.
5.Principle of feedback:
There must be a proper feedback channel established
for the purpose of job satisfaction and improvement.
6.Principle of control:
Ms Kavita must specify the controls of the new
Process i.e. MBO and specific person should be
identified for the handling of the controls of the MBO
in the organization.
7.Principle of prioritizing:
The work should be assigned on the basis of priority
or nature of the work.
Process:
Set Goal and
Reward andObjective
Incentive

Allocation
of work

Evaluate
Perform
Monitor
Performance
Conclusion:
MBO was initially applied in the operation and
management of enterprises, Chinese enterprises
introduced the method of MBO in the 1980s, and have
achieved good results. So implementing MBO
(management by objective) will be a dynamic step for
the organization’s bright future and growth with
commitment to their objective. And all the colleagues
and subordinates should welcome this dynamic and
wonderful change.
Thank You…………