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Monday, 6 July 2015

PRINCIPLES OF MANAGEMENT / IMPORTANCE OF MANAGEMENT BY OBJECTIVES Part-I







PRINCIPLES OF MANAGEMENT: Importance of Management by Objectives - Part I


As we all know that Management by Objectives is a systematic practice very useful in achievement of   departmental and organizational goals. Hence, its importance cannot be ignored. Some of the major importances of management by objectives are illustrated below:-



Effective Performance:
Management by Objectives helps in achievement of pre determined objectives by giving healthy and cordial atmosphere in business or industrial unit. This enhances the individual, departmental and managerial performances. Hence, all activities are goal oriented and to give momentum to the pre determined objectives.

Team Spirit:
Management by Objectives totally depends on the human factor. All work in a business or industrial unit is to be performed with the help of individual beings operating at different levels with different expertise and competencies. An environment is created in such a way that worker, subordinates and superiors perform as a team to achieve the desired goals. This helps in minimizing the egoistic behavior and other differences between subordinates and superiors, thereby creating sweet & cordial relation within the organization. A team spirit develops which supports the achievement of basic pre determined objectives. 

Motivation:
The whole process of Management by Objectives is mostly self motivating.  This is because all the major or minor decisions are adopted after systematic consultation between the subordinates, departmental heads and senior levels of managers. Hence, all have the feeling that this objective has to be achieved, giving a sense of pride as it becomes a personal attachment with the business or industrial unit. This inborn responsibility of all, forces all to give their best whole hearted effort for the final positive outcome. Ultimately it increases the level of individual work aspiration & motivation.

High Morale:
The enhanced working facilities & socio-cultural process of Management by Objectives in the business or industrial unit raises the morale. All the workers, subordinates, departmental heads and senior levels of managers understand that the final achievement would have a direct bearing on incentives and promotion. So the morale level towards the goal achievement becomes positive and high.

Effective Decision:
The Management by Objectives is a combined sincere effort of subordinates, departmental heads and senior levels of managers towards achievement of pre determined objectives in business or industrial unit. The combined consultation of different levels of managers and subordinates makes way for taking the best applicable decision in the hour of need for any particular type of problem. This decision making process is very effective and is the base behind the positive outcome towards achieving the goal.

Job Satisfaction:
The objective of Management by Objectives is to get full co-operation of all the workers, subordinates, departmental heads and senior levels of managers. Whatever is necessary to get the best efforts is provided, so that maximum amicable satisfaction is present during the process of work. The negative factors are reduced to the minimum instantly. So, a major issue of job satisfaction is attained to the best possible maximum level.

Effective Managerial Development:
The Objectives taken up by departmental heads makes individual managers totally responsible towards the achievement of their departmental targets. Since the authority has been delegated for performance, it inculcates the feeling of responsibility in the individual, which increases the intellectual ability and efficiency. This process of Management by Objectives helps in development of effective managerial skills and quality.


Few more points on importance of management by objectives would be presented in next blog.


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