Final answer:
Multi-Objective Management (M-O-M) is a management approach that involves simultaneously achieving multiple objectives when making decisions.
Step-by-step explanation:
Multi-Objective Management (M-O-M) is a management approach that involves simultaneously achieving multiple objectives when making decisions. It recognizes that organizations have multiple goals or objectives, and aims to find a balance between them to maximize overall performance.
For example, a company may have the goals of increasing sales, reducing costs, and improving customer satisfaction. M-O-M would involve identifying strategies and actions that would help achieve all of these goals to the greatest extent possible.
Some techniques used in M-O-M include decision matrices, utility theory, and goal programming. These tools help decision-makers analyze different options, evaluate trade-offs, and make informed decisions that consider multiple objectives.