The concepts and components of Management by Objectives (MBO) are examined in terms of their application to educational administration. The paper begins by defining MBO, differentiating its components (e.g., individual and institutional goals and mission statements), and emphasizing the need for management styles conducive to objective management. Next, the steps in implementing MBO are listed and examined in detail; these include institutional goals, individual goals, periodic performance reviews, and end-of-year appraisal sessions. Then the mechanics of management objectives are considered, including writing styles (e.g., simple sentences, qualifying paragraphs, and columnar grids); classification of objectives as routine, problem-solving, innovative, or personal; measuring techniques; and the establishment of priorities. The section concludes with goal-setting guidelines, such as check relevant sources; be succinct and simple; make goals realistic and challenging; limit the number of goals from ten to 15; write out desired results, how they will be achieved, and the criteria of success; state criteria in ranges; set a target date; set priorities; and distribute goals. An administrative development program is then outlined, including such topics as the role of management, organizational development, decision making, delegation, creativity, and performance appraisals. Finally, a time-table for implementing MBO is elaborated. An extensive bibliography is provided. (KL)