MNGT 3100 Lecture Notes - Relate, Financial Statement, Economic Indicator
Document Summary
Metrics: measurable values used to gauge performance on objectives. Goals & objectives in polc i. ii. iii. iv. Leading- managers help set goals that are realistic. Mbo: a systematic and organized approach that aims to increase organizational performance by aligning the subordinate objectives throughout the org with the overall goals set by management a. b. Aim is for people to know what the org is trying to achieve and what their role should be in that. Managers should focus on results (objectives), not just activities. Provides all members with clear link to vision and mission c. Provide incentives that align with objectives to prevent dysfunctional reward systems d. Provide incentives that align with objectives to prevent dysfunctional reward systems. Framework designed to translate an org"s mission and vision statements and overall business strategy into specific, quantifiable goals and objectives, and to monitor the organization"s performance in terms of achieving those goals.
