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What Is Management by Objectives? Mention Its Three Steps

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What is management by objectives? Mention its three steps.


Definitions:

Laws

Regulations and rules established by governments or other authorities to govern behavior and actions in a society.

Competitive Advantage

A situation or factor that gives a business an advantageous or dominant position over its rivals in the industry.

Monopolistic Market Position

A competitive standing where a single company or entity dominates the supply of a particular product or service in a market.

High Profits

Earnings that significantly exceed the costs and investments of a business, reflecting strong financial performance or market advantage.

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