ABSTRACT
The executive management team is responsible for futuristic thinking, planning, budgeting, evaluating, and redirecting the organization to meet expressed needs, objectives and stated goals. There is a hierarchy in a management team, where certain individuals have more authority than others and, therefore are responsible for running the organization and delegating authority as needed. The executive manager delegates authority to middle management and first line supervisors. The approach called management by objectives (MBO) has three main points: All individuals in the organization set a specific group of objectives, which they try to reach during a specific time period; There are periodic performance reviews during the course of this time period; and The organization members are rewarded if they reach their specific goals. In order for an MBO program to work, the top managers of the organization must first set appropriate goals and objectives.
