Many firms have embraced Management By Objectives (MBO) as a way to effectively integrate people into the organization. An MBO system provides a structure to ensure the coordination of the organization and to effectively delegate authority and responsibilities.
- Is MBO working for you and your company?
A successful MBO system is tricky to implement and maintain because it requires a high degree of honesty in the organization.
- Is your management and Board Of Directors behind your MBO program?
- Does MBO create more work for you?
- Who reviews your MBO and lets you know how you are doing?
- Is having Key Performance Indicators better than MBO?Thanks, Marieta
MBOs/OKRs (Objectives and Key Results) are generally designed for projects that have a definable beginning and end.
While KPIs are designed to measure ongoing processes that a company is expected to do forever.
Learn to Run a Business by the Numbers, Improve it Constantly andProject What Will Happen to be Ahead of the Competition.
Dashboards are the key tool to run and scale businesses by getting things down to a science. They enable managers to put people and processes on auto-pilot so they can work “on” the business, not “in” the business. Dashboards enable Management By Exception (MBE), a more advanced management method. They allow people and processes to mature and be measured and accountable for results. They allow superior projection and the ability to constantly improve over time. No company becomes very successful without systematization and dashboards are the key tool for this.
I suggest that companies try all of these where they are applicable.
Today, Marieta, dashboards, and KPIs are used more frequently in my experience.
I hope this helps you, Marieta.