Effective Utilization of Management by Objectives in Nigerian Organization.
INTRODUCTION
Management needs a lot of tools to be able to administer effectively in the day to day running of the business. Management by objectives is one of such tools. It is a way of getting improved results in managerial action.
Management by objectives can be described as a managerial method whereby the superior and the subordinate managers in an organization identify major areas of responsibility, in which they will work, set some standards for good or bad performance and the measurement of results against those standards Derek (2005:156).
Management by objective is also called Managing By Objectives. However, there have been certain individuals who have long placed emphasis on management by objectives and by so doing have given impetus to its development as a system.
Management by objectives refers to a structured management technique of setting goals for any organizational unit.
STATEMENT OF THE PROBLEM
It is pertinent to note that the management of companies in Nigeria. Lack of sufficient technique to make them manage well. Some of these tools are not used and when used they are not properly utilized.
Management by objective if not only a managerial strategy to achieve a well co-ordinated managerial goals, but it is also a popular management technique that cut across or pervades all human activities namely; business areas, educational, government, health care and non-profit organisation.
Most of these objectives are hardly understood resulting in losses, breakage’s and on so. The worse is the business in the medium range where most banks fall. Most companies hand down objectives to subordinates without adequate explanation, hence the failure of management by objectives in such cases.
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