The Two Underlying Purposes of Implementing Management by Objectives in an Organization

question 44

Multiple Choice

The two underlying purposes of implementing management by objectives in an organization is to _____.

• A)evaluate and control employees' goals
• B)administer organization goals and to reward performance
• C)clarify organization goals at all levels and to gain increased motivation among employees
• D)serve as a check and balance on employees and to build support for the OD program
• E)reward employees who meet their objectives and reprimand employees who do not

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Definitions:

Reserve Price

The minimum price set by the seller that must be met or exceeded at an auction for the sale to proceed.

Profit

The financial gain made after all expenses have been deducted from total revenues.

English Auction

A bidding process where participants bid openly against one another, with each subsequent bid higher than the previous, until the highest bid wins.

Rational Self-Interest

The principle that individuals prioritize actions that result in the most personal benefit, assuming rational decision-making processes.