Frostburg Fireplaces Has Used Management by Objectives (MBO) for the Past

question 163

Multiple Choice

Frostburg Fireplaces has used management by objectives (MBO) for the past year. Top managers just finished evaluating overall performance. The next step in the MBO process should be:

• A) to develop new action plans.
• B) to develop new goals for the next year based on the review of last year's performance.
• C) to begin a new MBO "cycle," using the same goals as last year.
• D) to wait several months to allow information to be digested.
• E) none of these.

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Definitions:

Management

The process of dealing with or controlling things or people, often within an organization.

Limited Liability Company

A commercial structure that amalgamates the limited liability protection of a corporation with the direct taxation approach of a partnership or sole proprietorship.

Articles Of Organization

The document that is filed with the appropriate state official, usually the secretary of state, when a limited liability company is formed.

Limited Liability Company

A business model that merges a corporation's limited liability with the partnership or sole proprietorship's pass-through taxation.