“If you don’t know where you are going, any road will get you there.”
Management by objectives (MBO) is a management model that aims to improve performance of an organization by clearly defining objectives that are agreed to by both management and employees. The term was first outlined by management guru Peter Drucker in 1954 in his book “The Practice of Management.”
An MBO contains four parts:
- Objective: What you want the Business to accomplish.
- Goals: What you have to do to achieve the Objective. The Goals contain numerical values that when reached represent the Objective being achieved.
- Strategy: The clever way in which you do what you do.
- Recurring Events: All the things that the business does that supports the Strategy/Goals /Objective. The recurring events are behaviors – things that you have to deliberately believe in order to accomplish what the business does.
Here are some questions for your organization to consider:
- Do you know what your organization’s objective is?
- Can you easily define your Objective?
- Do all your employees know the Objective?
- What are the Goals for your organization?
- Are your Goals easily measurable?
- Do you have a Strategy to reach your Goals?
- What are the Recurring Events in your organization to know your employees are using the Strategy?
These questions and their answers are vital to the success of your organization. Complete your MBO and put your organization on the path to success.
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