Final answer:
Phillip uses MBO, or Management by Objectives, a technique where objectives are defined and agreed upon by management and employees to improve organizational performance.
Step-by-step explanation:
Phillip likes to use MBO to manage his business. MBO stands for Management by Objectives. This is a strategic management model that aims to improve the performance of an organization by clearly defining objectives that are agreed to by both management and employees. The idea is that when employees themselves have a hand in setting the goals, they are more likely to fulfill their responsibilities. It includes planning goals that are specific, measurable, achievable, relevant, and time-bound (SMART criteria).
MBO involves several key steps such as setting company-wide objectives, aligning employee objectives with company goals, monitoring progress, and evaluating performance. By doing so, it helps ensure that everyone in the organization is moving in the same direction with clear expectations.