In this post, let us consider the lists of Executive Management tools. So, scroll down to learn more about these tools.
4 Executive Management Tools
The following Executive Management Tools are the important tools for providing a better way to deal with management problems. Let us have a look at these tools.
1. Management by Objectives (MBO)
Management by Objectives (MBO) is a conceptual management tool. It deals with the setting of ambitious goals and targets for employees. The idea is very simple that if the objectives are set among the employees, then they will have a plan to achieve those objectives. This practice will take everyone in a definite direction as well as it will push the team to work harder to achieve those objectives.
Management by Objectives (MBO) is a conceptual management tool. It deals with the setting of ambitious goals and targets for employees. The idea is very simple that if the objectives are set among the employees, then they will have a plan to achieve those objectives. This practice will take everyone in a definite direction as well as it will push the team to work harder to achieve those objectives.
2. Management by Exception (MBE)
We can define Management by Exception (MBE) as an approach that involves taking action only when things go wrong. In other words, this approach tells us that we should not take action unless there is an emergency or some issue arises in the organization. This approach allows you to focus on activities that are not time-consuming and which can be done easily without wasting too much time and effort on them.
We can define Management by Exception (MBE) as an approach that involves taking action only when things go wrong. In other words, this approach tells us that we should not take action unless there is an emergency or some issue arises in the organization. This approach allows you to focus on activities that are not time-consuming and which can be done easily without wasting too much time and effort on them.
3. Management by Objectives and Results (MOR)
This tool talks about setting goals and targets for each employee along with their evaluation criteria so that they could work harder to achieve those goals and targets and also so that they could be evaluated properly and fairly for their performance and achievements in their job roles and responsibilities.
This tool talks about setting goals and targets for each employee along with their evaluation criteria so that they could work harder to achieve those goals and targets and also so that they could be evaluated properly and fairly for their performance and achievements in their job roles and responsibilities.
4. Management by Walking Around (MBWA)
This tool talks about the practice of managers walking around their employees regularly to check details of their work, to see what is happening in the organization, and to talk to them about any issues or problems that they may be facing. This is very helpful for managers to understand how things are going on in the organization and is also helpful for the employees to tell the managers about their problems and issues which is very important for the managers to take necessary actions in proper time.
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