1.0 Introduction
1.1 Background Of The Study
Management by objectives and it’s application in financial Institutions in Nigeria will therefore focus on how the effective application of MBO programme will assist in motivating the staff of union Bank towards higher productivity and to reduce the urgly sceneries that are caused by dissatisfaction, at the place of work.
Management by objectives (MBO) is one of the latest methods advocated by Peter Drucker as a technique of Management where by managers interact with their subordinates by directing, teaching and supporting them to achieve their individual objectives which leads to the achievement of the over all objectives of the organization.
In the opinion of this prolific writer on management studies, the basic concept of MBO is that top executives and subordinate managers should all be involved in determing company objectives and define areas of responsibility, and integrate into them the goals of the employees. Such a goal congruency will help to elicit employee’s commitment will resultant increase in productivity.
To be an efficient and effective worker means so many things the imperatives of which amongs others is that the workers is skilled, trained, willing, ables, is motivated intrinsically and extrinsically.
In other words, a part from good remuneration, he has reasonable freedom for personal initiative at the work place.
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