EFFECT UTILIZATION OF MANAGEMENT BY OBJECTIVE IN NIGERIA COMPANY PROBLEMS AND PROSPECTS

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ABSTRACT

The examination of the effect utilization of management by objective in Nigeria is the primary objective of this research. Issues Facing the Business and Opportunities Ahead Management by Objectives is a method of getting improved results in the managerial method, in which 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. Management by Objectives is a way to get better results in the managerial method (Derek 2005: 156). Management by objectives is another name for the practice known as management by objectives. On the other hand, there have been specific people who have, for a considerable amount of time, placed a priority on management by objectives, and as a result, have provided impetus to the system’s development as a whole. The management strategy known as “management by objectives” gives preference to the structured management method of goal-setting for any given organizational unit. This study’s primary limitation is that the management of organizations in Nigeria are not equipped with an enough number of management strategies that would enable them to manage efficiently. Some of these tools are either never used or, when they are, they are not employed in the appropriate manner. Management by objectives is not only a popular management technique, but it is also a popular management strategy that cuts across or pervades all human activities, namely business areas, educationed government, health care, and non-profit organization. Management by objectives is not only a management strategy to achieve a well-coordinated managerial goals, but it is also a management strategy to achieve a well-coordinated managerial goals. Unfortunately, a large number of organizations have not yet adopted this strategy for engaging the dedication and cooperation of their staff members. The primary purpose of the study, as well as one of its hypotheses, was to determine the various issues that are affecting the management of objectives as an instrument for organizational performance, as well as the level of participation of both managers and employees in the setting of goals that are to be achieved within the organization. Data were gathered from a variety of sources, including main and secondary ones. The direct oral interview and the questionnaire that was distributed to the personnel were the key sources of information that were used in the study. The questionnaire was the primary tool that was utilized in the data collection process. The information was laid down in tables, with frequency distributions and analyses alongside it. The statistical test of proportion, often known as the Z-test, was utilized in the process of putting the hypotheses to the test. The most important takeaways from the research were that MBO helps to obtain total commitment from all employees to work together in order to achieve a common goal; that a good and prompt salary, promotion as when due, good relationship with management, and recognition of achievement improves the performance of workers, which in turn enhances the performance of organizations that have adopted management by objectives; and that MBO helps to obtain total commitment from all employees to work together in order to achieve a common goal. According to the findings of the study, managers should involve their subordinates in the process of formulating unit objectives. These objectives are then passed up the organizational hierarchy, where they are amended, compiled, approved, and disseminated throughout the organization. More than that, there should be autonomy in the implementation of plans once the objectives have been agreed upon. Once the objectives have been agreed upon, the individual should enjoy a large amount of discretion in choosing the means for achieving the objectives without being directed by a higher ranking manager. In conclusion, the research uncovered a great deal of beneficial implications and the continued relevance of management by objectives to the management of contemporary businesses, particularly in Nigeria. In operational terms, management by objectives necessitates that each manager of a unit draws out his department objectives with his subordinates in line with the centrally stated corporate objectives and mission. This is done in accordance with the management by objectives methodology.

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