Explain the concept & process of MBO. Enumerting its benefits discuss the factors which play crucial role?

Answer 1

Formulated by Peter F. Drucker in 1954, Management by Objectives (MBO) is a process of agreeing upon objectives within an organization so that management and employees agree to the objectives and understand what they are.
It also tells about SMART (Specific, Measurable, Achievable, Realistic, and Time-Specific) objectives.
http://en.wikipedia.org/wiki/Management_by_objectives