Whirpool

1. Question: What were the two key things that Whirlpool management did to achieve productivity gains?

Ans: There are two key things that whirlpool management did to achieve productivity gains-

Firstly- management and labor worked together to keep the plant open and increases productivity without using more resources and

Secondly – the company overhauled the manufacturing process and taught its workers to how to improve the quality.

2. Question: Who has benefited from the productivity gains?

Ans 2: When Whirlpool’s improved their quality and productivity gains workers are benefited by increasing their pay.

3. Question: How are productivity and quality related?

Ans 3: When quality improved then productivity increasing because overhead costs and costs of inventory decreased that’s why productivity and quality related.

Or –

Without quality products, productivity can’t increase, on the other hands when best quality products produced, productivity increased, because market demands increased for its better quality. Thus productivity and quality both are related.

4. Question: How can a company afford to pay its workers for productivity gains?

Ans 4: A company can reword workers by increasing their pay for productivity gains.

OR-

Ans 4: When a company agreed to gains sharing a plan for reworded workers by increasing their pay, then workers are greatly encouraged and motivated to attend their jobs sincerely and thus the productivity gains.

Performance Management

“Performance management is a proactive partnership between employees and management that helps employees perform at their best and align their contributions with the goals, values, and initiatives of the organization”

About General Electric Company

1. General Electric, GE is an American multinational conglomerate corporation

2. Incorporated in New York and headquartered in Boston, Massachusetts

3. GE is ranked among the Fortune 500 as the 68th-largest firm in the U.S. by gross revenue,

4. 14th most profitable As of 2012, the company was listed the fourth-largest in the world among the Forbes Global 2000

5. Number of employees: 333,000 (2016)

6. Revenue: US$ 123.7 billion (2016)

7. Area served: Worldwide

8. CEO & Chairman: Jeffrey R. Immelt

9. Publicly Traded on NYSE: GE

Founded: April 15, 1892; 124 years ago in Schenectady, New York

10. Headquarters: Boston, Massachusetts, United States

Some of the Categories of Products:

1. Aircraft engines

2. Appliances

3. Electrical distribution

4. Electric motors

5. Energy

6. Finance

7. Gas

8. Health care

9. Lighting

10. Locomotives

11. Oil

12. Software

13. Water

14. Weapons

15. Wind turbines and many more categories of products they are produced

Starts: Thanks you my group member mr. Neaz, Thank you once again to our favorite lecturer Mr. ABDUL KADER NAZMUL sir.to give me opportunities here.

It’s my great pleasure to brief here the performance management of General Electric USA. In this regards I’m discussing about ‘what is Performance Management ---General Electric

Performance Management

We know that “Performance management is a proactive partnership between employees and management that helps employees perform at their best and align their contributions with the goals, values, and initiatives of the organization”

Now come to the points --What is Performance Management?

Performance management is a process by which managers and employees work together to plan, monitor and review an employee's work objectives and overall contribution to the organization

(traditional)There are 4 Common Performance Management Techniques those are applied by (GE):

First of all 1. Performance Measurement -

Performance measurement is the process whereby an organization establishes the parameters within which programs, investments, and acquisitions are reaching the desired results.

There are 4 stage of Performance Measurement

1. Stage 1 - Annual Performance Review --- which is Assess results Prepare current year development plan

2. Stage 2 - Plan performance for the year--- Set KRAs {Key Result Area(KRA) and Key Performance Area(KPA)} Finalize current year Development plan

3. Stage 3 - Reward and Recognition --- Performance‐linked pay Recognize Top Performers

4. Stage 4 - Mid-term Review---Review results Competency development plan

2. Performance Appraisal - An annual review of an employee’s overall contributions to the

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