What management technique is utilized to set goals and objectives?

The management technique that is utilized to set goals and objectives is known as the Management by Objectives (MBO) system. This approach involves a structured process where management and employees collaborate to establish specific, measurable goals. The purpose of MBO is to align individual performance with the organization's objectives, enhancing productivity and accountability.

In an MBO system, employees understand what is expected of them and how their individual goals contribute to the broader objectives of the organization. This alignment fosters clarity and motivation, as individuals can see the direct impact of their work. Additionally, MBO incorporates regular reviews and feedback sessions, ensuring that progress is monitored and adjustments can be made as necessary.

While other techniques like SWOT analysis, benchmarking, and performance appraisal are beneficial in various aspects of organizational management, they do not specifically serve the purpose of goal and objective setting in the same structured collaborative manner as the MBO system. SWOT analysis focuses on identifying strengths, weaknesses, opportunities, and threats, and benchmarking compares performance against best practices, while performance appraisal assesses past performance rather than setting future objectives.