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CRITICAL THINKING-2
Summer Term 2019-2020
Regulations:
An Overview about Assignment submission Time & grades:
Type of Assignment | Posting date | Due date | Marks | Grace period* |
Critical thinking | Start of week 3 | End of Week 4 | 20 | 3 days |
* Grace Period: with accepted excuse (accepted by instructor) with deduction of 10% for late submission
Critical thinking: 2
Principles of Management
Reference: MGT490-Book-Chapter No-05 (Planning)
Part-1
This chapter has highlighted the role of mission statements as a starting point for organisational planning. In his book, Management: Tasks, Responsibilities and Practices, Peter Drucker said a mission statement should serve as the ‘foundation for priorities, strategies, plans and work assignments' by providing a precise statement of the organisation's core purpose. He suggested that in about three sentences a good mission statement would explain who it relates to, what they do, what they stand for and why they do it and that the information provided would communicate to separate, distinct stakeholder groups.
Questions:-
Note: Answer the questions thoroughly. Use at least 4 scholarly references to support your arguments. (Expected word count: 400-500 words).
Part-2
As discussed in the chapter, management by objectives (MBO) is a long established and still widely practised management tool to motivate employees. MBO is informed by goal setting theory, which is a widely researched idea supported in multiple independent research studies conducted among different types of organisation and different types of employee in different countries.
Questions:-
What risks are associated with the use of MBO and how far do you think that guidance on good practice in setting work objectives for employees ensures that these risks can be controlled?
Note: Use at least 3 scholarly references to support your arguments. (Expected word count: 300-400 words)
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