Essentials of Planning and Managing by Objectives

More documents

Recommendations

Info

ObjectivesObjectives were defined earlier as the important ends toward which organizational andindividual activities are directed. Since writers and practitioners make no clear distinctionbetween the terms goal and objectives, they are used interchangeably in this book. Within thecontext of the discussion, it will become dear whether the objectives are long term or shortterm, broad or specific. The emphasis is on verifiable objectives, which means at the end ofthe period it should be possible to determine whether or not the objective has been achieved.The goal of every manager is to create a surplus (in business organizations, this means profit).Clear and verifiable objectives facilitate measurement of the surplus as well as the effectiveness andefficiency of managerial actions.The Nature of ObjectivesObjectives state end results, and overall objectives need to be supported by sub objectives. Thus,objectives form a hierarchy as well as a network. Moreover, organizations and managers havemultiple goals that are sometimes incompatible and may lead to conflicts within the organization,within the group, and even within individuals. A manager may have to choose between shorttermand long-term performance, and personal interests may have to be subordinated toorganizational objectives.
Hierarchy of objectivesAs Figure 4-3 shows, objectives form a hierarchy, ranging from the broad aim to specificindividual objectives. The zenith of the hierarchy is the purpose or mission, which hastwo dimensions. First, there is the social purpose, such as contributing to the welfare ofpeople by providing goods and services at a reasonable price. Second, there is themission or purpose
Page 1 and 2: Essentials of Planning and Managing
Page 3 and 4: .Types of PlansPlans can be classif
Page 5 and 6: the same situation every time it co
Page 7 and 8: ProgramsPrograms are a complex of g
Page 9 and 10: 2. Establishing ObjectivesThe secon
Page 11: 8. Quantifying Plans by BudgetingAf
Page 15 and 16: Examples of objectives for key resu
Page 17 and 18: Multiplicity of objectivesObjective
Page 19 and 20: 113evolving Concepts in Management
Page 21 and 22: Failures of management by objective
Page 23 and 24: KEY IDEAS AND CONCEPTSFOR REVIEWPla

Essentials of Planning and Managing by Objectives

Create successful ePaper yourself

Delete template?

Save as template?