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Managing by Objectives
The purpose of the Management By Objective programme is to achieve the company’s overall plan for the year based on the strategy of the business.
This is linked to individual targets by departments and will focus their minds and synchronise their objectives with those of the company as a whole. MBO will ensure that all managers and departments are working to the same corporate goals so that these are more likely to be achieved.
There are four stages to the set up the programme in the organisation
1. Objective Creation
• Objectives should be set up consisting of Quantitative and Qualitative objectives.
• They must be measurable.
• Quantitative objectives will be as set out in the yearly Business Plan.
All objectives should be realistic and on a gradual base.
2 .Items of Objective management
• All objectives must be derived from the company’s annual plan and not conflict with it.
• All objectives must be measurable on a monthly basis.
• Objectives can be revised on a quarterly basis in line with changes in the company business plan.
3. Review
• All objectives will be reviewed after each quarter against the original plan.
4. Assessment of achievement
• Managers will be assessed on their level of achievement of their objectives
• The assessment will be based on measures, action plans and objectives completed.
• All members of the Management Team will be assessed.
Click here to view a Management By Objectives example quarterly report
To find out more about FIRA's Management By Objectives programme please contact Bruce Lovell on 01438 777700 or email blovell@fira.co.uk
