In today's video, we'll explore the widely used performance management strategy known as Management by Objectives (MBO).
Join us as we delve into both the advantages and challenges of this structured approach to goal setting and performance evaluation.
I hope the video takes you beyond the definition & helps to make the learning process a little more tangible. Please subscribe & feel free to share.
--------------------------------------------------
Video Content
0:00 - Introduction to Management by Objectives (MBO)
Advantages of MBO:
Clarity and Alignment of Goals
Boosted Employee Motivation and Engagement
Encouragement of Ongoing Communication
Framework for Measuring and Evaluating Performance
Shift from Performance Measurement to Development
Challenges of MBO:
Time-Consuming Implementation
Risk of Overemphasis on Short-Term Goals
Potential Rigidity in Adapting to Change
Subjectivity in Goal Evaluation
Risk of Minimum Requirement Focus
Best Practices for Effective MBO Implementation:
Dedication of Time and Effort
Balance Between Short-Term and Long-Term Goals
Flexibility in Goal Adaptation
Objective Goal Evaluation Criteria
Encouragement of Excellence Rather Than Minimum Requirements
Conclusion: Maximizing MBO Effectiveness with Holistic Performance Management
--------------------------------------------------
School of Learning
Arnav Dutta
/ arnav-dutta-a2020a44