Using the MBO approach (management by objectives)come up with a strategy.(make it up)
Break them into the 4 levels
level 1 top
level 2 division
level 3 department
level 3 employ
"...come up with a strategy." <~~To do what??
for example increase profits or increase employee moral.. these are just examples.
To develop a strategy using the Management By Objectives (MBO) approach, we can create a hypothetical situation for a fictional company called ABC Corp. Let's break down the strategy into the four levels:
Level 1 - Top Management:
1. Define the overall corporate objectives for ABC Corp, considering their long-term vision and mission statement.
2. Set measurable goals for the entire organization, such as increasing market share or improving profitability.
3. Establish key performance indicators (KPIs) to monitor the progress and success of the company's strategy.
4. Communicate the objectives and goals to the divisional managers.
Level 2 - Divisional Management:
1. Align the division's objectives with the corporate objectives by understanding the specific needs and challenges of each division.
2. Create divisional goals that contribute to the overall company objectives, such as launching a new product or entering a new market segment.
3. Identify division-specific KPIs to measure progress and achievement within each division.
4. Coordinate with departmental managers to ensure effective implementation of the strategy.
Level 3 - Departmental Management:
1. Analyze the requirements and resources of each department to support the divisional goals.
2. Define departmental objectives that align with divisional objectives, such as improving customer service or increasing production efficiency.
3. Determine departmental-specific KPIs to track performance within each department.
4. Collaborate with employees to create individual objectives that support departmental goals.
Level 4 - Employees:
1. Engage in a two-way discussion with departmental managers to understand the departmental objectives and how they relate to the overall strategy.
2. Identify personal objectives that align with departmental goals and contribute to the overall success of ABC Corp.
3. Create a plan to achieve personal and departmental objectives, including timelines, resources, and milestones.
4. Regularly review progress with departmental managers and adjust objectives as needed to meet changing circumstances.
By following this MBO approach at each level of the organization, ABC Corp will ensure that all objectives are aligned and contribute to the overall strategy, promoting better coordination and performance throughout the company.