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Performance Management Process: General Electric - Case Study Example

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"Performance Management Process: General Electric" paper is based on understanding general performance management principles followed at GE encompassing planning of activities/work; monitoring performance; developing people to perform as expected; assessing and evaluating performance. …
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Extract of sample "Performance Management Process: General Electric"

Download file to see previous pages General Electric (GE) is considered as the most successful multinational organization in the world.  It is known for peculiar strategies, practices and management patterns, specifically instrumented by its erstwhile CEO, Jack Welch.  According to Welch, the performance-driven culture is the basis for all success at GE. Jack Welch is one of the toughest leaders who has played a vital role in removing bureaucracy and bringing positive change in terms of performance evolution, vitality curve, training and development facilities, etc.

According to Campbell et al, performance is a behavior or action meant to achieve the organization’s goals, which can be measured (cited by Latham, Sulsky & MacDonald, 366). Performance management involves the management of teams and individuals with the aim of achieving organizational goals by establishing a common understanding of the organizational objectives through a systematic approach and with the use of systems, management practices, and leadership. In the process, performance management strives to enhance the performance of people performing below expectations as well as sustain high performance through appropriate recognition. In a holistic picture, performance management strives to improve overall processes; achieve continually improving results, and continuously develop resources and effective leadership.

In general, any business has three factors that are vital for survival, namely, people, business and customers. An effective leader or a strategist would consider that all 3 factors are interrelated to enhance organizational performance. Right people with the right amount of motivation would manage the business in an efficient manner and at the expected level for the customers. An effective leader or a strategist would consider that all 3 factors are interrelated to enhance organizational performance. Right people with the right amount of motivation would manage the business in an efficient manner and at the expected level for the customers. ...Download file to see next pagesRead More
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