The Purpose of Management by Objectives Is to

question 262

Multiple Choice

The purpose of management by objectives is to

• A) enable top management to set goals for the entire organization.
• B) simplify the jobs of middle management by providing them with predetermined goals and objectives.
• C) help employees motivate themselves with a goal-setting model that involves discussion, review, and evaluation by management and employees.
• D) allow employees to set their own goals without consulting with management.

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Definitions:

Market Segments

Separation of a market into unique segments of consumers with diverse needs, traits, or actions who may need distinct products or marketing strategies.

Blue Ocean Strategy

A business strategy that encourages companies to create new demand in an uncontested market space or "Blue Ocean" rather than competing in saturated markets.

Differentiation

A marketing strategy that involves distinguishing a product or service from competitors to make it more attractive to a particular target market.

Lower Cost

A strategic advantage or objective involving reducing expenses to offer products or services at a competitive price point.