The following points highlight the eight major areas in which businesses should set objectives identified by Peter Drucker. Also we will learn about the need for balancing these multiple objectives. Area # 1. Market Standing: A business must set objectives concerning what share of the market it will try to capture. The best market share requires careful analysis of: (i) [...]
Objectives for the manager are set in the following stages: 1. Analyse the Manager's Authority and Responsibility 2. Compare Goals with Managers Job 3. Initial Definition of Objectives 4. Determining the Units of Measure 5. Select Specific Targets 6. Discussion with the Manager. Stage # 1. Analyse the Manager's Authority and Responsibility: After knowing goals for the company, division or [...]
After reading this article you will learn about the compatibility of individual objectives to organisational objectives. Both individual and organisational objectives can be fulfilled without undue sacrifice to either. The individual keeps his identity within the organisation but at the same time he respects the organisation need for co-ordination. If the individual is a member of the organisation, he will [...]