13.4. MbO (Management by Objectives) - planning and appraisal system

In the current economic environment the basis for a strong and stable growth as well as a competitive advantage is an effective and efficient Organisation Management System. In 2011 mBank implemented a fully developed, established and, additionally, very flexible System of Management by Objectives (MbO), which in 2014 covered not only mBank employees, but also employees of all the key subsidiaries of mBank Group.

On the basis of more than 4 years of experience, at the end of 2014 the process of setting and cascading objectives for 2015, both in mBank and in selected Group subsidiaries started — strong emphasis was placed on solidarity and integration objectives driving cooperation within the entire mBank Group. It is a long-term process which will, in effect, provide mBank Group with a lasting competitive advantage and a tool which supports its long-term strategy on an ongoing basis.

Knowledge of strategic goals will allow mBank Group to focus employees' involvement on the most important issues, improving their effectiveness and saving time.

The MbO system has the following functions in the organisation:

  • It translates directly into mBank's and mBank Group’s performance by imposing discipline and involving the entire organisation in the achievement of results,
  • It forms a direct communication platform which enables sharing of information on the role and involvement of an individual employee in developing the organisation and achieving the strategic goals of mBank.