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The following multiple goals were identified by General Electric:
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 4 of the goals listed above. Describe how you would measure performance in each of these areas? Be specific.
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Let us select the following goals:
<br>Profitability: To measure profitability, we look at the profit generated by the manager over 1-year period. We can then compare it with the following benchmarks (you can choose any one of these benchmarks for your answer) 1) What was the profitability target assigned to the manger for that specific period of time, has he met this goal, has he exceeded that goal, if so by how much? This number can be used as one of the inputs to evaluate the manager.
<br>Benchmark 2) Another way is to look at the profit generated by that department over a number of years, for instance if that ...
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