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Quiz in Engineering Management
Quiz in Engineering Management
23. What are the five basic policy issues connected with the establishment of
organizational goals?
The employee and management performance, productivity, profitability, innovation, market share
and social responsibility goal.
Employee Performance Management is about aligning the organizational objectives with the
employees' agreed measures, skills, competency requirements, development plans, and the
delivery of results.
Productivity is a measure of economic performance that compares the number of goods and
services produced (output) with the number of inputs used to produce those goods and services.
Profitability is a measure of an organization's profit relative to its expenses. Organizations that are
more efficient will realize more profit as a percentage of its expenses than a less-efficient
organization, which must spend more to generate the same profit.
Social responsibility in marketing involves focusing efforts on attracting consumers who want to
make a positive difference with their purchases. Many companies have adopted socially
responsible elements in their marketing strategies to help a community via beneficial services
and products.
Innovation objectives are goals to improve things by an order of magnitude. Innovation typically
requires experimentation, risk taking and creativity. As such, innovation objectives may involve
greater levels of uncertainty than a typical business objective that aims for predictable and
quickly obtainable improvements.
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