Business Administration Research project Topic Chapter 1-5 titled – The Importance Of Attaining Organization Performance Objective Constitute A Fundamental Phenomena For The Management Of Modern ,
ABSTRACT
The main aim of this study is to examine Management by Objectives as an instrument for organizational performance with focus on First Bank of Nigeria P c.
Management by Objectives is a way of getting improved results in managerial method, whereby the superior and the subordinate managers in an organization
identifies major areas of responsibility, in which they will work, set some standards for good or bad performance and the measurement of results against those
standards (Derek 2005: 156). Management by objectives is also called managing
by objectives. However, there have been certain individuals who have long placed
emphasis on management by objectives and by so doing have given impetus to its
development as a system. Management by objectives prefers to a structured
management technique of setting goals for any organizational unit. The major
problem of this study is that management of companies in Nigeria lack sufficient
techniques to make them manage effectively. Some of these tools are not used
and when used they are not properly utilized. Management by objectives is not
only a managerial strategy to achieve a well co-ordinated managerial goals, but it
is also a popular management techniques that cut across or pervade all human
activities namely business areas, educationed government, health care and non-
profit organization. Unfortunately many of the organizations are yet to adopt this
technique in enlisting commitment and support of their staff. The major
objective/hypotheses of the study was to determine the various problems affecting
management of objectives as an instrument for organizational performance and
the level of participation of both managers and employees in the setting of goals to
be achieved in the organization. Data were collected from both primary and
secondary sources. The major sources of primary data were direct oral interview
and questionnaire which was conducted among the staff. The major instrument
used in the data collection was questionnaire. The data were presented in tables
as frequency distributions and in analysis. In testing the hypotheses, the statistical
test of proportion (Z-test) was applied. The major findings of the study were: MBO
helps to obtain total commitment of all employees to work together in order to
achieve a common goal; that good and prompt salary, promotion as when due,
good relationship with management and recognition of achievement improves
performance of the workers and by so doing enhances organizational
performance when management by objectives is been adopted. The study
recommended that managers should consult his subordinates in drawing up unit
objectives which goes up the hierarchy from where it is modified, collected,
approved and distributed throughout the organisation. Moreso, there should be
autonomy in implementation of plans once the objectives have been agreed upon,
the individual should enjoy wide discretion in choosing the means for achieving the
objectives without being directed by higher ranking manager. Finally, the study
revealed a lot of positive implications and relevance of management by objectives
to modern day management of organizations especially in Nigeria. In practical
terms, the operations of management by objectives requires that each manager of
a unit draws up his department objectives with his subordinates in line with the
centrally stipulated corporate objectives and mission.
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