Management by goals in the context of management of beauty industry enterprises
https://doi.org/10.24182/2073-6258-2023-22-4-160-168
Abstract
This article looks at the key role of goal management (MBO) in the multifaceted beauty industry. Drawing on the foundational ideas of Peter Drucker, the study sheds light on how MBA promotes alignment of individual roles with the overall goals of organizations. This bridges the gap between theory and practice by clarifying the practical application of MBO in beauty industry enterprises. The paper highlights the adaptability and flexibility of the system, the attributes needed, given the unique characteristics of the beauty sector. In addition, the article touches on ancillary management tools that complement MBO, providing a holistic approach to managing the beauty industry. The article will be useful for beauty stakeholders, management scientists and those interested in innovative organizational strategies.
References
1. Drucker P.F. The practice of management: A study of the most important function in America society. Harper & Brothers, 1954.
2. Drucker P.F., Maciariello J. A. Management: Tasks, Responsibilities and Practices. Harper Collins Publishers Inc. 2008.
3. Ilyenkov D.A. Goal management: advantages and disadvantages. Economics and management of innovative technologies. 2015. № 2. URL: http://ekonomika.snauka.ru/2015/02/7151 (Accessed: 11.09.2023).
4. Kapferer J.N., Bastien V. The luxury strategy: Break the rules of marketing to build luxury brands. Kogan page publishers, 2012.
5. Lankevich I. Mission statement: definition (mission statement). VC.RU, 2022. [Electronic resource] Access mode: https://vc.ru/u/338257-ilya-lankevich/423140-zayavlenie-o-missii-opredelenie-mission-statement?ysclid=lmdojn5psu666747184 (Accessed: 11.09.2023).
6. Robbins S.P., Coulter M., DeCenzo D.A. Fundamentals of management: Management myths debunked. Pearson, 2017.
7. Semenyuk E.V. Management by goals in the management of the socio-economic system. Questions of economics and management. 2017. No. 3 (10). Pp. 27–29.
8. Staroverova, K.O. Management. Management efficiency. Moscow: Yurayt, 2019. 269 p.
9. Business management. Harvard Business Review. – Moscow: Alpina Publisher, 2021. 290 p.
10. Hayes A. Management by Goals (MBO): Study its 5 steps, pros and cons. Investopedia, 2023. [Electronic resource] Access mode: https://www.investopedia.com/terms/m/management-by-objectives.asp (Accessed: 11.09.2023).
Review
For citations:
Khripkov R.N. Management by goals in the context of management of beauty industry enterprises. Scientific notes of the Russian academy of entrepreneurship. 2023;22(4):160-168. (In Russ.) https://doi.org/10.24182/2073-6258-2023-22-4-160-168