management (noun, man-age-ment, \ ˈmænɪdʒmənt \) by objectives (noun, ob-jec-tive, \ əbˈdʒektɪvz \)
Definition: is a type of management approach that relies on the management’s and employees’ discussion and approval of company objectives so that both parties have a clear understanding of how the organization plans to operate in the future. Such a system helps set the basis for: a) increase in the employee’s motivation due to his participation in the planning procedure, b) improvement of the overall efficiency of the company as all workers know the objectives placed in front of them, and c) creating plans that are aimed at concrete results and not semi-related tasks without a common goal. Additionally, the agreed upon objectives are regularly reviewed and evaluated to check if progress has been made and if any changes are needed.
In a Sentence:
- During the interview, Mr. Evans was asked about his thoughts regarding the existing management by objectives system. Mr. Evans responded that he has always strongly believed that all employees must have a say in setting business goals due to the unique perspective they offer.
- If you want to improve the communication with your employees, you can always try implementing the management by objectives approach.
- The board of directors promised that the introduction of the management by objectives style will make operations run more smoothly than ever before.
Synonyms and related words: management by exception, organization management, management by values, management by delegation, quality of life management