Foundations Of Planning
- Topics:
- Management By Objectives
- Source:
- Southern Utah University
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Overview: Planning is the tool, which helps in operationalizing the strategy of an organization. This, in turn, results in effective realization of the organizational goals. Goals define the roadmap towards realization of an organization’s vision and mission. A plan gives a specific direction to the organization whereby the organization is clear on its approach towards managing its competitive position in the market. Management By Objectives (MBO) is a technique to implement the principles of planning in the organization. In MBO, specific objectives are set for each employee. Based on the same, the employees’ performance is subsequently monitored and measured. MBO is one of the many approaches towards realization of strategic plan. The paper discusses planning and examines the pros and cons of the same. In this context, it also delves into the concept of MBO.
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Format: HTML | Size: 96KB | Date: Jan 2003 | Pages: 23
