Makro Executive Summary

A new commission related to the management by objective is related in the text. So this commission will be reach only and only if the MBO target will be reach , and to reach this goal they must ;

The corporate and divisional objectives in Glaxo were established for three years. Renewal took place every year. The emphasis in MBO at Glaxo was on strengthening the planning and control systems at different levels and on team building and participative goal setting.

Conclusion: As such, the MCS should have been initially detailed using this reverse order for consistent presentation as well as acting as a catalyst to the planning subsystem of the core control system. In doing so, goals can be set in accordance to the company culture and structure. This enables management to influence the behaviour of more employees by providing clear goals. This makes for a better feedback system because it includes the information of the various departments/divisions and all levels of employment. This allows for attainable goals and prevents the imposition of unrealistic goals, MBO, and the likelihood of fraudulent reporting. To further prevent fraudulent reporting, the measurement subsystem should rely equally on the accounting system as well as non-financial measures (balanced score card).

Step four in management planning is the selecting of goals believed to be most appropriate and feasible by the managers. Step five implements the goals and plans into action by managers. Goal achievement is likely to be linked to the organization’s reward system to encourage employees to achieve the goals and implement plans properly (Thomas S. Bateman, Scott A. Snell, 2009). Step six is essential in making sure goals and plans are met. If the goals and plans are not monitored and controlled managers would not know if they were ever met successfully.

Describe goals and objectives as they apply to business. pg 181-182; wk 6 lecture, pg 1

MBO is defined as a four-step process in which managers and employees (1) discuss and (2) select goals, (3) develop tactical plans, and (4) meet regularly to review progress toward goal accomplishment. MBO focuses on shorter-term tactical

On the other hand, organizational performances can be enhanced in the following manner; by creating success requires respect for everyone’s needs, talents, and aspirations, as well as an understanding of the dynamics of human behavior in organizational systems. Organizations do well when the people in them work hard to achieve high performance, as individuals and as members of teams. The ultimate goal of OB is to improve the performance of people, groups, and organizations, and to improve the quality of work life overall (Schermerhorn, 2011).

4. Management by objective (MBO) is a process that includes all of the following EXCEPT:

Also, management by objectives is a tool that can measure employee’s performance. Management by objective sole purpose as Jay Chronister states is to “track progress toward completion of each objective and ensures the employee objectives correlate to the organizations objective." For instance, GMC recently had a recall for issues with their products key ignition. In order to make sure that the recalls were produced correctly, the

Achieving the general objectives of the organization according to the requirements of the management by applying a clear plan.

To make these goals effective and efficient objectives are important. It gives an organization right direction to achieve its goal, that is why organizational objectives should be specific, measurable, achievable, realistic and time bound (SMART).

When the concept of management by objectives (MBO) became widely recognised in the 1950s, performance management systems moved towards those based on achieving goals, or success in key accountabilities (or key job impact areas)(Pratt 2001). Research between 1950 and 1980 was focussed primarily on improving the instruments used in making performance

Being specific is important because it is to find out what kind of particular targets that needs to make. The objectives need to be measured so that the managers can see whether it has been attained or not. As for achievable, they make sure that their objectives are by any chance achievable in terms of quality of food and customer service. For relevant, the objectives are applicable .If customers are unhappy, they will not be able to make the profit that they want to achieve and this can make the business down. The last SMART component is time, set the objectives is to a standardize duration and also up to

Management by Objectives (MBO) method involves setting specific measurable goals with each employee and then periodically reviewing the progress made.

The nature of business operations includes four points, firstly, meeting the changing future needs of customers and offering the best customer experience and value. Secondly, in our work, we keep the highest ethical standards and maintain our commitments, fair and trustworthy. Thirdly, in our group, we support, engage and trust each other. Fourthly, we are courage and determination to succeed.