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Management By Objectives (MBO)
Management by objective (MBO) or management by Result is both a philosophy and a technique of management. The philosophy is aimed at harmonizing individual manager goal with those of the organization (it is an embodiment of precise strategic plan and its translation into departmental and individual goals, which are reviewed when result are obtained). [Read more…]
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Business Social Responsibility And Ethics
How does social responsibility arise? In the pursuit of the objectives of profit optimization businesses consciously or unconsciously forget that they operate in and environment that give them succour ( help given at times of need) without which they will not exist in the first place. [Read more…]
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CORPORATE OBJECTIVES SETTING
Definition: Objectives as used in management refer t the aims, goals or the “Hoped for Result” that organizations seek to accomplished. The primary, overall objective of an organization; its expressed reason for existence is refer to as its mission.
IMPORTANCE OF MISSION OR OBJECTIVE:
The importance of a suitable mission that is formally expressed and effectively communicated to the people cannot be overemphasized. The mission and the objectives derived from an organization serves as criteria for all subsequent managerial decision making. If managers do not know what their organization’s basic purpose was, they would have no logical reference point for deciding which alternative is best. [Read more…]
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BUSINESS MANAGEMENT PLANNING AS CORPORATE
Planning as a management function is the process of selecting objectives and deciding what should be done to attain them. In management parlance, planning is the systematic process of analyzing relevant information both past and present and the development of alternatives so that a course of action be taken to achieve organizational objectives. [Read more…]