The concept of management by objectives (MBO) Department: Business Administration and Management By: bapatigi7954 Project ID: 2469 Rating: (3.2) votes: 11Rate this project12345 Price:₦3000 Get the Complete MaterialAbstractThe main aim of this study is to examine Management by Objectives Concepts with a focus on First Bank of Nigeria Plc. 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. 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....Preview Download Preview +Other Business Administration and Management project topics and materials you might be interested in»The Effect of Management Information System on Achievement of Organization Objectives ( A Case Study of Nitel Owerri )»The impact of production planning and control on a manufacturing process ( a case study of Nigeria bottling company aba, abia state)»Marketing implication of merger and acquisition in banking industry - a case study of Access bank Plc, Bida branch, Niger state»The Effect of Motivation on Employees Productivity in Anambra State ( A Case Study of Education Commission Awka )»The Impact of Staff Discipline in the Attainment of Organizational Objectives ( A Case Study of Selected Organizations in Owerri, Imo State )»The Impact of Performance Appraisal on Staff Productivity ( A Case Study of Diamond Bank Plc, Owerri )»The effect of irregular payment of workers salaries on productivity of workers in imo state (a case study of owerri municipal council)»A critical evaluation of leadership style and organization performance in the private sector ( a case study of selected establishment in abia state)»The impact of welfare packages on employees performance (A case study of Nigeria breweries plc Aba)»The Effects of Motivation on Workers Morale ( A Case Study of Power Holding Company of Nigeria, Aba )»Motivation and Employee Performance in Public Sector ( A Case Study of NTA Channel 12 owerri)»Management Problems of Manufacturing Industries in Nigeria ( A Case Study of Nigeria Breweries Plc and Unilever Plc )»An assessment of the impact of modern communication facilities on service delivery in business organization ( A case study of ICT based firms in aba, abia state)»The Impact of Delegation on Management Decision Making ( A Case Study of Zenith Bank Plc, Enugu )»The Role of Customer Service in the Service Delivery of Multinational Companies in Nigeria ( A Case Study of Unilever Nigeria Plc Aba)