Management Concepts and Applications/Planning

From Wikibooks, open books for an open world
Jump to navigation Jump to search

Definition and Importance[edit | edit source]

Definition[edit | edit source]

Management by Objectives (MBO) is an effective planning tool that helps supervisors set objectives. MBO has come a long way since it was first suggested by Peter Drucker in 1954 as a way of promoting managerial self-control. It has been used to appraise performance, to motivate individuals, and recently, for strategic planning. Also called as “goals and control “approach as it integrates both planning and control. It aims at setting goals through constant interaction of superiors and subordinates. MBO aims at achieving organizational objectives and enhancing employee commitment and participation. MBO is a cyclical or continuous process.

Importance[edit | edit source]

planning is a process by which we can know what to do, how to do, when to do and by whom to do to achieve desired goal

Types of Plans[edit | edit source]

planing process can not person unless the types of plan undrestand

1. purpose  or mission 
2. objective
3. strategy
4. policies 
5. procedure
6. rules
7. program
8. budget

Types of Planning[edit | edit source]

Steps in Planning[edit | edit source]

Limitations of Planning[edit | edit source]

Planning Premises[edit | edit source]

Management by Objectives (MBO)[edit | edit source]

Concept[edit | edit source]

Objective setting Process[edit | edit source]

Benefits and Weaknesses[edit | edit source]