Objectives of Management
Definition of Objectives of Management:
Objectives stand for aims and objects purpose, goals targets and mission, but the common redeeming feature in all these terms is the end and the destination towards which all human endeavors are made in conjunction with the available resources. They are as such those aims and aspirations which are set up by people to achieve and towards which the whole economic and business activities re directed. G.R terry define objective in the following words: “A managerial objective is the intended goal that prescribes definite scope and suggests direction to the planning efforts of a managers.” This definition includes four concepts:
A goal should not be confused with a general areas of desired activities the scope of the intended goal is included is included in a statement of the prescribed boundaries to be observed. And objective connotes definiteness. Proposes state in value double meaning have little or no managerial value. Finally, direction indicated by the Objectives.
Nature of Objectives:
Objectives state and results and overall objectives need to be supported by objectives. Thus, objectives form a hierarchy as well as a network, moreover organization and managers have multiple goals that re some time incomparable and may lead to conflict within the organization, within the group and even within individuals.
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- Multiple objective:
Objectives, whether of an enterprise, institution or any other establishment, may be many. a business enterprise might have objectives certain rate of profit and return on investment, flow of finished products at certain quantities, maintaining a certain quality of goods produced, emphasizing research capturing market etc. similarly a charitable institution like hospital might have objectives of providing effective treatment to a given number of expanding indoor and outdoor medical facilities a certain rate, improving quality of services through better training to medical staff, carrying research, adding new branches of medical treatment likewise a unify varsity might have objectives of providing Education in certain field or fields of knowledge, carrying research. Offering basic training in different faculties, attracting good students, faculty members etc.
Multiple objectives form a network of desired results. They may be long range depending upon the urgency of the requirements and priorities set by the enterprise. They should support and interlock with each other. They express the missions of an enterprise or institution. They should, therefore, supplement each other to make the targets of the enterprise a success. It will definitely be tragic when they interfere with each other.
Hierarchy of Objectives:
For every enterprise here exists a hierarchy of objectives. At the top organizational level there may be major objectives providing goals for the entire organizational level there may be major objectives providing goals for the entire efforts. At the middle or lower level of organization structure there may be departmental or sub departmental objectives. This may go on further subdividing down the organizational level to finally become individual objectives the accomplishment of each subsidiary objectives should contribute to the achievement of each subsidiary objectives should contribute to the achievement of each subsidiary objectives should contribute to achievement of immediate superior objectives and in this may sub departmental objectives should finally lead to the accomplishment of major objectives.
Therefore, the objectives of a section of the department, the department itself and different departments a whole should thoroughly be integrated to make theme positive.
A Network of Objective:
Both objectives and planning normally from a network of desired results and events. If goals are not interconnected and if they do not support one another people very often pursue parts that may seem good for their own department but may be harmful to the company as a whole. It is easy for one department of a company to set goals that may seem entirely appropriate for it, only to find itself operating at cross purposes with another department. The manufacturing department may see that it goals are best served by long production runs, but this might interfere with the marketing departments desire to have all products in the line readily available or with the fiancé departments goals of maintain investment in inventory at a certain low level.
Characteristics of Objectives:
Clarification of Objective:
It explains and spelling out specific objectives in clear, understandable, and definite term, the superior knows what he experts from his subordinate’s manager and the latter understands what he has to accomplish by a given them.
- Success of specific goals:
It sets specific goals in such a manner that it integrates short-range objectives with long range objectives. Each success e specific goal is perfectly integrated.
Delegation by Objectives:
If duties are assigned in terms of results to be achieved. Authority delegation becomes specific and simple. It believes in delegation of authority in the light of objectives assigned. This makes delegation of authority purposeful and effective.
Freedom to Act:
In the light of clear objectives, specific goals along the way to it, and the authority to achieve them, the subordinates’ manager gains the freedom at act and put his best. He has initiative to work and develop faith in his own self.
It is impossible to measures achievement of objectives accurately if stated in general terms. Management by objectives expresses specific goals in verifiable and quantifiable terms thereby making measurement of performance or control easy, simple and definite.
- Clear communication:
Clear communication is only established when a subordinate is given verifiable results to attain and the authority to achieve them. Such clear communication motivates the subordinate’s manager to put forth his best efforts and imagination. Management by objectives builds clear communication.
- Improve management ability:
At each interval, the subordinates should understand his capability effectiveness and efficiency so that he may concentrate on his weaker areas of performance to improve himself further. Management by objectives provides this opportunity.