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compare mbo with mbe
Management by objectives (MBO) is a process of defining objectives within an organization so that management and employees agree to the objectives and understand what they need to do in the organization. [ The term "management by objectives" was [ first popularized by Peter Drucker in his 1954 book 'The Practice of Management'. Management by Exception is a "policy by which management devotes
its time to investigating only those situations in which actual results differ significantly from planned results. The idea is that management should spend its valuable time concentrating on the more important items (such as shaping the company's future strategic course). Attention is given only to material deviations requiring investigation." [1] It is not entirely synonymous with the concept of exception management in that it describes a policy where absolute focus is on exception management, in contrast to moderate application of exception management ]
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People have a peculiar behaviour over a product and why is it so. How a product is altered to attract customers? What are the techniques companies follow to retain and add new customers? Explain
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What is MBO? Why it is significant in management process? Can a manager be successful without following MBO concept? Also compare MBO with MBE
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