Management by Objectives | Business Objectives | A Level Business 9609
Channel: Alt Academy
Date: 2023-02-13

This video lesson is a holistic explanation of Management by Objectives (MBO), a crucial concept from the Human Resource Management Strategy chapter in Cambridge A Level Business. If you're curious about how businesses set and achieve goals, you're in the right place!

In this video, we'll explore MBO in simple terms, covering its purpose, process, benefits, and challenges.
Firstly, we'll talk about why MBO is important. It helps make sure that everyone in a company knows what they're working towards and how their work fits into the big picture.
Next, we'll explain how MBO works step by step. It starts with the company's long-term goals, which are turned into smaller goals for each department, and then into individual goals for employees. This way, everyone knows what they need to do to help the company succeed.

Then, we'll discuss how MBO involves both top-down and bottom-up approaches. Leaders set the overall goals, but everyone in the company has a say in how those goals are reached. This helps make sure that goals are realistic and meaningful to everyone.
After that, we'll look at the good things about MBO, like how it can motivate people, improve communication, and provide opportunities for career growth.
Finally, we'll talk about the challenges of MBO, such as putting too much pressure on employees, needing skilled managers to make it work, and making sure everyone is working towards the same goals.

By the end of this video, you'll have a complete understanding of Management by Objectives and how it helps companies succeed. So get ready to learn and ace your CAIE A Level Business exam!
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