Abstract

Every business needs to operate successfully and to attain its full potential in terms of sales and profits, it is
necessary to establish managerial planning and control systems. It is the purpose of this paper to introduce the
basic concepts of delegation and Management by Objectives (MBO). Specific methods to apply these
techniques are also discussed. The paper argues that execution of MBO needs dynamic and transformational
leadership at the top level, and commitment of management at all levels starting from the top-down to the
operating level. Finally, this paper provides directions for future research.

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