GENERAL KNOWLEDGE

Detailed explanation-1: -Some of the main benefits include: Improved Communication between management and employees. MBO requires continuous two way communication to monitor progress toward objectives. This provides numerous opportunities to clarify any ambiguities regarding individual roles and expectations and to adjust objectives if needed.

Detailed explanation-2: -Management By Objectives (MBO) It is a performance management approach in which a balance is sought between the objectives of employees and the company goals. It defines roles and responsibilities for the employees and help them chalk out their future course of action in the organization.

Detailed explanation-3: -The following four major components of the MBO process are believed to contribute to its effectiveness: (1) setting specific goals; (2) setting realistic and acceptable goals; (3) joint participation in goal setting, planning, and controlling; and (4) feedback.

Detailed explanation-4: -MBO is an acronym for Management by Objectives. It can be defined as a management system that measures employees’ performance against a series of set targets or goals to gauge their overall performance in their role.

Detailed explanation-5: -Define organizational objectives. The first course of action is to define your organizational objectives. Translate objectives into goals. Monitor performance. Evaluate progress. Reward accomplishments. 12-Oct-2022