Question

What are some real life examples of Management by Objectives (MBO)? Please don't use personal experience and provide an explanation for each example

Answer 1

Management By Objectives can be defined as the process of clearly defining goals and objectives that are agreed upon by both management and employees. It allows the employees to contribute to the company's top priorities. There are the following examples of MBO:

1. Triple social media following: Social media has emerged as one of the best tools to reach potential customers. The company can achieve the goal of reaching new customers by streamlining its posts on social media. The employees can announce contests and giveaways to engage people with the posts and thereby attracting potential customers.  

2. Maintain employee satisfaction index of 90%: Employee satisfaction is the key to the success of any organization. The Human Resources department can achieve this by engaging with employees and taking care of their concerns. It can provide them with facilities such as wending machines, games, and social outings. But above all, the Human Resource department must ensure that the employees are paid best in the industry in order to satisfy and retain them for a longer period of time.

3. Launch four new product features: The research and development team can work together to achieve this objective. Adding new features to a product prolongs the life cycle of a product. The R&D team can ensure that it keeps on researching and adding new features to the company's products.