answer 5 - MFB (1) - 5 Management by Objective(MBO Process...

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5. Management by Objective (MBO) Process MBO process has 6 stages, mainly: a) Setting long term goals b) Converting long term goals into specific performance goals c) Developing action plans to achieve the performance goals d) Periodic Review e) Performance Appraisal f) Corrective Action Setting Long-term Goals Setting of long-term goals is done by the top management. After setting these goals along with the policies and procedural guidelines, they communicate these goals to the managers of the organisation who are responsible to execute the MBO process. The manager will then call a meeting with his team to resume the process of goal setting. Converting Long-term goals in to Specific Performance Goals The manager then meets his immediate subordinates and communicates the broad objectives and the guidelines. After being given time to understand the expectations and to evaluate the goals, the subordinate then conducts another meeting with the operating team
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