The joint formulation by a manager and his or her superior of a set of goals and plans for achieving the goals for a forthcoming period is known as ________.
A) capital budgeting
B) managerial effort
C) management control system
D) management by objectives

Question

Quizplus · Accepted Answer

The joint formulation of goals and plans for achieving those goals by a manager and his or her superior is known as management by objectives (MBO). MBO is an effective method of goal setting and performance management. A is not correct because capital budgeting is the process of allocating financial resources to different projects or investments. B is not correct because managerial effort refers to the amount of time and energy a manager puts into managing a team or organization. C is not correct because management control systems are used to monitor and control the performance of an organization.

The Joint Formulation by a Manager and His or Her