Abstract
This review paper presents the second half of the 20th century research of Management by objectives (MBO) approach. The relevant research is spanning over the last five decades and an approach to position representative common characteristics of this wide spectrum of studies, is implemented through their grouping into 15 main areas of application. The presented studies were analyzed, revealing the favourable areas of application by using the MBO approach. Among 82 literature survey, it is found that the main area of MBO application is in the medical sector. The four main medical sub-groupings of healthcare, that is, healthcare, nursing, hospital management and hospital pharmacy account for 40% of the total references. The paper also denotes determining factors of potential MBO malfunction, such as the observing distortion between MBO introductory structure and its function in real business environments, which are proved detrimental to their operation. Key words: Business environment, decision making, management by objectives, review.
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