Management by Objectives (MBO)is the Process in Which Managers Set

question 34

True/False

Management by objectives (MBO)is the process in which managers set objectives for their employees,periodically evaluate the performance,and reward according to the results.

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Definitions:

Economic Profit

The difference between total revenue and total costs, including both explicit and implicit costs, indicating the financial performance beyond the break-even point.

Human Capital

The collective skills, knowledge, or other intangible assets of individuals that can be used to create economic value.

Physical Capital

Tangible assets used in the production of goods and services, such as machinery and buildings.

Generates Output

The process of producing or delivering a result, product, or service from a set of inputs or processes.