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1. a. Management by objectives- is a management approach that uses organizational objectives as the primary means of managing organizations. Some of the main characteristics of MBO include a strategy which has three basic parts, and the MBO process which has five steps. The three parts of the MBO strategy include: 1. All individual in an organization are assigned a set of objectives that they are trying to reach during a normal operating period. 2. Reviews are given periodically to determine how close individuals are to attaining their objectives. 3. Rewards are given to individuals, in accordance with their work performance, and how close they come to reaching their goals. The first step in the MBO process is: 1. Review organizational objectives- The manager gains a clear understanding of the organizations overall objectives.