Management by objectives is the name of Holmen’s joint process and tool for ensuring that we do the right things and achieve our goals. In addition it will assist managers to provide clear and motivating management and leadership in line with our core values courage, commitment and responsibility.
It ensures that all knowledge, potential and personal drive among all the employees are utilized since all employees are involved in setting targets and how to reach them. It contributes to create increased understanding, commitment and a greater degree of responsibility in the organization. Management by objectives contributes to building successful groups and teams both when it comes to result and team spirit.
-Combining management by objectives with values-driven leadership allows managers to create commitment and opportunities for the team to meet, and even exceed, the expectations, says Annica Bresky, CEO Iggesund Paperboard AB.
The process for management by objectives begins at every level by clarifying the long-term profitability target and strategy for Holmen and the business area, what conditions apply for the unit in question and, based on these, what is expected of the business. With this as a foundation, all teams formulate the targets, critical success factors, key performance indicators and action plans in order to meet the expectations.
Management by objectives is applied at every level within Holmen and involves all employees.