Management by Objective - Explained

Management by objective, introduced by Peter Drucker in 1954, involves collaboration between employees and managers to set and achieve goals. This approach aligns personal and organizational objectives, enhancing employee understanding and buy-in. It benefits the management process by increasing loyalty and efficiency. The process includes setting goals, creating action plans, and evaluating performance using quantifiable metrics. Adjustments are made based on results, ensuring continuous improvement.

Describe the relationship between individual goals and organizational goals in the context of Management by Objective.

What steps are involved in modifying the action plan or goals based on the appraisal of results?