Performance Measures
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The following multiple goals were identified by General Electric:
· Profitability
· Market position
· Productivity
· Product Leadership
· Personnel Development
· Employee attitudes
· Public responsibility
· Balance between short-range and long-range goals
General Electric is a huge, highly decentralized corporation. At the time it developed these goals, GE had approximately 170 responsibility centers called "departments," but this is a deceptive term. In most other companies, these departments would be called divisions. For example, some GE departments had sales of more than $500 million.
Each department manager's performance was evaluated annually in relation to the specified multiple goals. A special measurements group was set up to devise ways of quantifying accomplishments in each of the areas. In this way, the evaluation of performance would become more objective as the various measures were developed and improved.
Select 3 of the goals listed above. Describe how you would measure performance in each of these areas? Be specific.
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1) Profitability : I would measure it as it defines what is the net return on investment is it that GE is getting.
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<br>Profitability = Net ...
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