BUSINESS ADMINISTRATION
PRINCIPLES AND PRACTICE OF MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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1 Manager Subordinate Involvement2 Matching Goals and Resources3 Implementation of Plan4 Review and Appraisal of Performance5 Goal setting
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1 Matching Goals and Resources2 Review and Appraisal of Performance3 Review and Appraisal of Performance4 Goal setting5 Manager Subordinate Involvement
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1 Meeting with clients regularly 2 Review and Appraisal of Performance3 Review and Appraisal of Performance4 Goal setting5 Manager Subordinate Involvement
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Detailed explanation-1: -Management by Objective, also called Management by Results (MBR), is a theory of management developed by Peter F. Drucker in his book Practice of Management (1954). In summary, MBO is a management system in which the manager and employees work together to develop areas of responsibility for employees.
Detailed explanation-2: -The 6 steps involved in the process of MBO are determining organizational goals, determining employees’ objectives, constantly monitoring progress and performance, performance evaluation, providing feedback, and MBO performance appraisal.
Detailed explanation-3: -Drucker opposed bureaucratic management and was in favour of creative management. According to him, the aim of management should be to innovate. This could be done in the form of combining old and new ideas, developing new ideas, or encouraging others to innovate.