Monitoring change - Models
3 important questions on Monitoring change - Models
What does management by objective (MBO) define?
- It defines objectives for each employee.
- After that, their performance is compared and directed against these objectives.
MBO objectives should be SMART. What does SMART mean?
- Specific
- Measurable
- Achievable
- Realistic/relevant
- Time-related
For example:
- The company will use downsize its employees by 5% in 2 years by natural attrition as much as possible, otherwise with redundancies.
- Increase sales by x% in 2 years.
- Acquire x new customers within 2 years.
- Retain x number of customers within 2 years.
SMART objectives is a part of MBO objectives should be set for the whole organisation. What are the five different levels?
- Corporate objectives (Exemplar)
- Company objectives (Woodco)
- Divisional objectives (Outdoor)
- Departmental objectives (Sales)
- Individual objectives (John Smith)
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