performance management strategies (Objectives)

Question 1

Management by objectives

Answer 1

It is a process by which management and employees agree on a set of goals for each employee, with these individual goals all contributing to the objectives of the business as a whole.

Question 2

Advantages of management my objectives

Answer 2

*Employees who are involved in setting goals and choosing a course of action are more likely to work productively and fulfil their responsibilities
*Both manager and employee and likely to know what is expected of them, reducing ambiguity and confusion in relation to roles
*Can improve communication and result in employees being more aware of a businesses objectives

Question 3

Disadvantages of management by objectives

Answer 3

*Can be time consuming-meetings and reports required can add to the responsibilities and burden of both management and employees
*Management by objectives is not always useful for all types of employees
*A failure to meet objectives could become demoralising for some employees, resulting in a lack of motivation