Areas of establishing objectives under MBO are : (i) Market Standing (ii) Innovation (iii) Industrial Relations (iv) Public Accountability (v) Productivity (vi) Industrial Policy Codes :
(i), (ii), (iv) and (v)
Management by Objectives (MBO) was popularised by Peter Drucker in “The Practice of Management” (1954). He identified eight key result areas in which every business must set objectives: market standing, innovation, productivity, physical and financial resources, profitability, manager performance and development, worker performance and attitude, and public responsibility.
(i) Market Standing — one of Drucker’s key result areas. Included.
(ii) Innovation — a key result area. Included.
(iii) Industrial Relations — not one of the eight areas; worker relations appear only as worker performance and attitude. Excluded.
(iv) Public Accountability — corresponds to public (social) responsibility, a key result area. Included.
(v) Productivity — a key result area. Included.
(vi) Industrial Policy — this is a government policy matter, not an area in which a firm sets its own objectives. Excluded.
So the areas are (i), (ii), (iv) and (v).
Hence, the answer is (i), (ii), (iv) and (v).
Similar Questions
Match the following :
(Book) (Author) (a) Functions of the Executive (i) Charles Babbage (b) On the Economy of Machinery and Manufactures (ii) Henri Fayol (c) The Effective Executive (iii) Chester Barnard (d) General and Industrial Administration (iv) Peter Drucker Codes :
(a) (b) (c) (d)
Match the items of List - I with List - II :
List - I List - II (a) Credit Mobilier (i) Charles Babbage (b) Charleton Twist Company (ii) Henry Fayol (c) Difference Engine (iii) Claud Henri Saint Simon (d) Commentry Four Chambault (iv) Robert Owen Codes :
(a) (b) (c) (d)
Assertion - (A) : No business runs itself, even on momentum . . . . . every business needs repeated stimulus.
Reasoning - (R) : The management is the dynamic, life giving element in every business, without its leadership, the resources of production remain as resources and never become production.
Statement - (I) : Management is the art of knowing what you want to do and then seeing that it is done in the best and the cheapest way.
Statement - (II) :Management is the process of planning and regulating the activities of an enterprise.
Match the items of List-I with List-II :
List-I List-II (a) “He who can manage, can manage anything”. (i) Henry Fayol (b) “Due to these experiments, a factory does not remain a factory, it is converted into a laboratory”. (ii) William B. Cornell (c) “Management succeeds or fails as human relations in business are intelligently or unintelligently handled”. (iii) F.W. Taylor (d) “A place for everything, and everything in its place”. (iv) Lawrance A. Appley Codes :
(a) (b) (c) (d)
Match the items of List-I with List-II :
List-I List-II (a) Management of Tomorrow (i) Chris Argyris (b) Motivation and Personality (ii) Fredrick Hergberg (c) The Motivation of Work (iii) L.F. Urwick (d) Personality and Organisation (iv) A.H. Maslow Codes :
(a) (b) (c) (d)
Assertion (A) : Management is mainly associated with economic affairs.
Reasoning (R) : Big business houses are the result of effective financial management.
Codes :
Which of the following is a systematic interactive forecasting method that relies on a panel of experts ?
The classical organisation theory treats organisation as a/an :
Who among the following is not related to the planning function given by Taylor ?
Important Questions from Principles and functions of management
- What was he referring to when Mooney said ‘conferring of specified authority by a higher authority’ ?
- Which one of the following is not a stage in decision-making process given by Herbert Simon ?
Arrange in correct sequence the steps for preparing a time schedule.
(i) List all items to be included, grouping under flexible and inflexible
(ii) Determine time sequence
(iii) Write out plan
(iv) Set down as accurate an estimate of time for each test as is obtainable
(v) Bring total estimated time needed and total available time into harmony
(vi) Merge individual plans with others for co-ordination
Choose the correct answer from the code given below:
Match the items of List - I with those of List - II; and choose the correct code of combination :<
List - I List - II (a) A committee consist of a group of people specifically designated to perform some administrative work (i) C.I. Barnard (b) Staff service in organisation means tde service or advice or council, as distinguished from tde function of autdority or command (ii) W.H. Newman (c) Organisation is informal when tde aggregate interpersonal relationships are witdout conscious joint purpose (iii) McFarland (d) An identifiable group of people contributing tdeir efforts towards tde attainment of goals is called organisation (iv) James D. Mooney Match the items of List - I with List - II; and choose the correct code of combination :
List - I List - II (a) The Fundamentals of Top Management (i) Peter F. Drucker (b) Middle Management (ii) R.C. Davis (c) The Essence of Management (iii) E.L.F. Brech (d) Principles and Practice of Management (iv) Mary Caushing Nile
