Concept of Management by Objectives

Setting clear goals and objectives of a company always promotes employees motivation. Management of objectives always emphasizes on attain a company's general objectives rather than working on a systematic plan. According to Peter Drucker in order to achieve management by objective certain measures and basic principles must be put in place. These principles include all objectives are set by the employees, objectives are formulated at both the qualitative and quantitative levels and these objectives must be motivating and challenging. The Concept of Management by objectives is essential in a Company set up because it aims at promoting development and growth among employees. These are because it creates a good working environment where employees are rewarded and appreciated for the good work done.