Class notes

Moving Away from Objective-Based Management and Toward Balanced Scorecard

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Course
EMAN 001

Institution
Canadian College ( )

The professor's name is Mr. Henry Palacio. This is based on his presentations about the topic 7.3 Moving Away from Objective-Based Management and Toward Balanced Scorecard.

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Uploaded on January 12, 2023
Number of pages 4
Written in 2022/2023
Type Class notes
Professor(s) Mr. henry palacio
Contains All classes

scorecard
management
balance scorecard
objective based management

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7.3 Moving Away from Objective-Based Management based on a set of objectives
Management and Toward Balanced Scorecard
MBO is a method that is both structured and
methodical, and it enables leaders to
concentrate on achieving objectives that are
The Goals of Our Instruction
within their reach while also achieving the best
• Objectivity should be the defining possible outcomes with the resources at their
feature of management. disposal. MBO seeks to improve organizational
• Explain what a Balanced Scorecard is performance by matching the objectives of
and the advantages it offers. subordinates throughout the company with the
overarching goals that leadership has
established for the organization as a whole. In
As you would think, companies utilize a wide an ideal situation, workers would have
range of measuring methodologies, which significant involvement into the process of
refers to the ways in which they go about determining their goals, time lines for
establishing and administering their goals and accomplishment, and so on. MBO incorporates
objectives. If you have an understanding of how continuous monitoring and feedback into the
the use of these approaches has evolved over process of achieving goals.
time, beginning with management by objectives
(MBO), then you will also have a much better
view of how and why the current incarnations, Peter Drucker initially articulated MBO in his
as seen by variations on the Balanced book The Practice of Management, which was
Scorecard, have many features that are published in 1954. Where managers need to
desirable. If you have an understanding of how concentrate the majority of their efforts and
the use of these approaches has evolved over time was one of the primary principles that
time, starting with MBO, then you will Drucker presented in MBO. According to
understand how and why the current Drucker, competent managers of MBOs
incarnations have many desirable features concentrate their attention not on the action
but rather on the outcome. They transfer
responsibilities to their subordinates by
Results That Are Strategic Pyramid. First and "negotiating a contract of aims" with them and
foremost: Results (both for the mission and the by avoiding the practice of prescribing a precise
business and for the customers). Middle: road plan for the execution process. MBO
Outputs (Processes and Activities). Inputs, entails establishing goals, which are further
including people, technology, and other fixed subdivided into a greater number of particular
assets, come in last. objectives or important outcomes. MBO is
comprised of:
Figure 7.3.1: Any effective method of
performance management must have goals and
objectives as an integral element of the process. Establishing company-wide objectives based
"Performance Reference Model" developed by on the overall business plan
FEA and made available in the public domain.
Determining team- and department-level
objectives

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