For an MBO System (Manage by Objectives) to Work, the Business

question 34

Essay

For an MBO system (manage by objectives) to work, the business unit attempting to implement the process must meet four criteria. What are those criteria?

---

Definitions:

Business Plan

A detailed document that outlines the objectives, strategies, financial forecasts, and market analysis for a new or existing business.

Successful Entrepreneur

An individual who has managed to translate an idea into a profitable business, demonstrating innovation, risk-taking, and persistence.

Venture

A business endeavor involving risk, typically with the expectation of future financial gain.

Viable

Capable of working successfully or feasible; in business, it often refers to a concept or idea that has the potential for success.