Briefly describe the evolution and need of ‘Management by Objectives’ (MBO) and it’s process. Discuss the benefits of MBO and how effectively it can be implemented in an organisation, citing examples. 

Management by Objectives (MBO) is a performance management approach that was developed by Peter Drucker in the mid-1950s. The approach was a response to the need for a more systematic and effective way to manage organizational performance. MBO is a goal-oriented process that focuses on setting objectives, monitoring progress, and evaluating outcomes.

The MBO process typically involves five steps:

Setting Objectives: The first step is to set specific, measurable, achievable, relevant, and time-bound objectives that align with the organization's overall goals.

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