Managing by objectives simply means that the manager organizes his tasks of managing systematically with the established objectives always in mind. He does this by setting good objectives, and then through proper planning and controlling, he makes the right choices to achieve that objective. To manage is to control, direct or to make the right things happen. Proper management can actually reduce work and also increase productivity in use of financial, physical and labour resources. Managing to get the right things done is no more work than managing to get the wrong things done.
Budgets are road maps.
They should show how you plan to get where you are going. There are bound to be some detours and changes, but a well thought out budget will remain a valid overall guide. Assets and debts are yours. Control and guide your assets and debts properly and your goals will become a reality. You are trying to reach the goals you thought were important.