Explain management by objectives by discussing advantages and disadvantages of the approach
Expert Answer
Management by Objectives is a management approach in which the managers and employees work together to set define objectives, set, record and monitor goals for a specific time period. Below are the advantages and disadvantages of the approach –
Advantages
1. Continuous emphasis on the goals and objectives to be achieved with regular discussions between managers and employees
2. Course correction to the approach based on the evaluation of the deliverables with the goals.
Disadvantages
1. Development of objectives require a lot of time of both managers and employees.
2. Possibilities
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