MANAGEMENT BY OBJECTIVES Definition

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MANAGEMENT BY OBJECTIVES (MBO) is a management theory that calls for managing people based on documented work statements mutually agreed to by manager and subordinate. Progress on these work statements is periodically reviewed, and in a proper implementation, compensation is usually tied to MBO performance.

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LIQUID ASSET is cash and any asset that can quickly be converted into cash (e.g., cash, checks and easily-convertible securities).

ADJUSTMENTS TO INCOME are all tax code allowable increases/(deductions) to income that are not already accounted for.

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