The Management By Objectives (DBO) refers to the technique to pass the important objectives of the company, which involved all those who make up the company’s strategic and operational level for specific targets various misting.
It can also be said that the management by objectives consists of classifying the strategic objectives of the company, from the hierarchical level, which indicates to each of the levels the specific objectives and thus can meet the general objectives.
Once the objectives have been distributed, each of the members of the company executes an action plan in conjunction with the general objectives. These members, in the company of their superiors, will define their responsibilities and carry out the necessary measures to manage their unit, this being their contribution to the company and it will be evaluated later.
Principles of Management by Objectives
Management by objectives comprises a series of principles such as the following:
Phases of Management by Objectives
Management by objectives is mostly applied in a limited way, this is because it is the means that help managers to develop professionally. Despite this, objective management has broader approaches, therefore, it needs to be applied throughout the company comprehensively.
Regardless of how management by objectives is applied in the company, there are general modalities such as the following:
Both the manager and subordinates must determine results on specific dates.
When workers are motivated, they tend to be more committed to goals.
The results are measured through the established objectives.
Reasons to implement Management by Objectives
There are several reasons for implementing objective management:
Functionalities that comprise Management by Objectives
Among its functions, the following can be mentioned:
Elements of Management by Objectives
This system is fundamental for the development of the company, therefore, it is used to make the objective reality and allows an efficient direction that leads towards the objectives that help to achieve the established goals. For this, the following elements must be taken into account:
Advantages of Management by Objectives
The advantages of objective management can be classified in three ways:
Advantages for the company
Advantages for management
Advantages for employees
This management system previously focuses on achieving the objectives set, therefore, it is very important that all company personnel are always kept informed of what the objectives are and in this way efficiently carry out the activities to achieve said objectives and in turn achieve the success of the company’s projects.