MGMT 5371

1
MGMT 5371 Output Analysis Dr. Barry A. Macy
2
Inputs
Outputs
TRANSFORMATION (Execution)
Environmental Drivers
Outcomes/Results From High Performance / Exemplar
Organizations
1. External/ Global Business
Environment (15)

THE ORGANIZATION DESIGN PUZZLE (9)
1. Macro Organizational Structures (5)
Organizational Effectiveness (5) The Balanced
Scoreboard (KPIs)
2. Internal Businesses Environment
Corporate Business (8)
8. Shared Leadership Decision Making
FIT
2. The Job/Work
A. Core Capabilities Competencies
7. Recognition and Financial Reward Systems
1. Customers 2. Employees 3. Organizational
Innovation 4. Societal

3. Technologies
B. Culture(s)
6. People and Human Resource Systems
C. Vision Direction (12) (VDSP)
5. Financial/ Business
4. Information and Knowledge Systems

D. Organizational Strategies
5. Micro Team Design
E. Goals/ Objectives (for the 5 KPIs)
9. Organizational Processes (Individual, Group,
Organizational and Business Processes (Total
Quality, Business Processes, etc.)
F. Business Models
G. Mutuality Sup- pliers,Customers
Employees (Union if present)
(Feedback)
Figure 1. Overall open systems theory (OST) model
for Organizational Analysis and Diagnosis
F. Transformation/ Change Processes
________________ Source Modified from Macy, et
al., (1995). Presented to the National Academy
of Management, Vancouver, Canada, August.
3
1-15
4
Stakeholders
Groups who are affected by a firms performance
and who have claims on its wealth
The firm must maintain performance at an adequate
level in order to maintain the participation of
key stakeholders
5
Stakeholder Involvement
Each of the key stakeholders wants a piece of the
same pie
6

• What Should be the Goal(s) of an Organization?

7
TRANSFORMATION
Outputs

Outcomes/Results From Exemplar High Performance /
Exemplar Organizations
Organizational Effectiveness (5) The Balanced
Scoreboard (KPIs)

• Customers
• Employees Engagement
• Organizational Innovation
• 4. Societal

5. Financial/ Business
________________ Source Modified from Macy, et
al., (1995). Presented to the National Academy
of Management, Vancouver, Canada, August.
8
The Balanced Scoreboard Five Outcomes
CUSTOMERS
Key KPIs
Breakthrough Thinking
INNOVATION Improved
Performance
BUSINESS FINANCIAL (Stock holders)
PEOPLE (Employee Engagement)
SOCIETY/COMMUNITY
D/Janie Work/Balanced Scoreboard/Slide 1
9
Old Organization Performance Measures
New Organization Effectiveness Measures

• Efficiency / Productivity
• Costs
• Capacity / Thru-put
• Product Quality
• ROA
• ROCE
• ROS
• ROI
• ROE

• Old measures plus others
• Customer Responsiveness
• Delivery Time
• Speed to Market
• Customer Satisfaction /
• Complaints
• Innovation/Creativity/Ideas
• Product and Service Quality
• Learning
• Employees Quality of Work Life
• EBIT
• Community Responsibility

Summary Balanced Scoreboard 5 measures
10
Five Cornerstones of Successful Organizations A
Balance of all Five at Once
Business/Financial Stakeholders
Customers/ Consumers
Effectiveness Success
Innovation
Society/ Community
Employee Engagement
11
An exemplar organization produces

• Superior to Exemplar Financial/Business Results
• Excellent Customer Satisfaction
• High Employee Engagement
• Superior to Exemplar Innovation
• High Society/Community Involvement/
  Participation

12
Output AnalysisEmployee engagement impact on
financial results

• Work teams with the highest levels of employee
  engagement average 18 percent more productive
• Work teams with the highest levels of employee
  engagement average 12 percent greater
  profitability than their counterparts in low
  employee engagement

Source Gallup org., 2006
13
Output AnalysisEmployee engagement impact on
financial results, part 2

• Business units with disengaged employees
  experience 51 percent more turnover than those
  units with engaged employees
• High levels of employee engagement have positive
  bottom line consequences!
• No manager/supervisor has fulfilled his/her
  responsibility until he/she makes employee
  engagement a priority

Source Gallup org., 2006
14
PART IV OUTPUT ANALYSIS (Remember Compare
your organization to its core (not the entire
industry) industry group and to Exemplar
Organizations see table below) Organizational
Effectiveness (KPIs) Outcome/Results Analysis
(see class notes) - Overall summary of Balanced
Scorecard All 5 KPIs (Yes/No Maybe)

• Customers KPIs Selection of several (at least
  3) KPI for assessment of Customer Results
• Business and Financial KPIs Selection of
  several (at least 3) business and financial
  KPIs.
• Employee Engagement Selection of several (at
  least 3) employee engagement outcome measures.
• Innovation Selection of several (at least 3)
  measures of the organizations innovativeness.
• Societal Selection of several (at least 3)
  societal indicator of the organizations
  global/societal responsibility.

Compare the appropriate Key Performance Indicators
(KPIs)/measures of the Firm versus Core
Industry Competitors versus Exemplar
Organizations (see class emails and Lectures)
15
Case Results Table
16
Exemplar Continuum

Poor
Exemplar
Pretty Below Average
Above Good Bad Average
Average
17
Eight Attributes of the Most Admired
Organizations
  ??        Innovation   ?       
Financial Soundness   ?        Employee
Talent   ?        Use of Corporate
Assets   ?        Long-term Investment
Value   ?        Social Responsibility   ?       
Quality of Top Management   ?        Quality of
Products and Services  Found on the
www.fortune.com/fortune Ratings of Fortune 1,000
firms from 1-10. see Fortune Magazine most
admired companies ratings
18
Crafting an Organizational Strategy

• An organizations strategy deals with
• How to make the strategic vision direction a
  reality and achieve target objectives
• The game plan for
• Pleasing Customers
• Determine Core Competencies
• Building a sustainable competitive advantage
• What things to outsource?
• Conducting operations

19
Concept of Strategic Intent
A company exhibits strategic intent when it
relentlessly pursues an ambitious strategic
objective and concentrates its competitive
actions and energies on achieving that objective!
20
Characteristics of Strategic Intent

• Indicates firms intent to stake out a particular
  position over the long-term
• Involves establishing a BHAG big, hairy,
  audacious goal
• Signals relentless commitment to winning

21
Lessons about Change Built to Last (Collins,
2001)

• Tried to understand why superior companies are
  better than peer companies which are better than
  most companies
• 1 invested in stock market in 1926 yields
• 415 in all other companies
• 955 in peer companies
• 6356 in superior (visionary) companies

22
So What Did They Find?

• Great companies had BHAG
• Big Hairy Audacious Goals
• Whatever your core values are stick with it
• Deal with the AND, not the OR
• Seek Alignment (internally)

23
Example of BHAG

• General Electric
• All businesses are held to a standard of being 1
  or 2 in their industries as well as achieving
  good business results
• John F. Kennedy
• Put a man on the moon and return safely by the
  end of the decade

24
Consumer Products Multi-International Firm --
Their 2009 OGSM Goals
Will require unprecedented levels of
organization capability. At a fixed enrollment
growth of 1 well need to increase
From To Difference
Volume/Employee 14.5 35.5M 245 Sales/Employees
342M 844M 246 Earnings/Employee 29.5M 84.
4M 286
25
CORPORATE CULTURES AND HIGH PERFORMANCE LEARNING
ORGANIZATIONS
1980-91 100 of the Fortune 500 Companies
Adaptive culture companies have
satisfied all three (customers,
employees, and stockholders) of
Companies with strong culture but
their constituents.
satisfying only one or two of key
Increased Sales 682
constituents
Increased Value of Stock 901
Expanded Workforce 282
Improved Net Income 756
Adapted from J. Kotter J. Haskett Harvard
(1992),
Corporate Culture and Performance
. The Free Press, p. 11
26
External Benchmarking Results Fortune 1000
Use of High Performance Systems
Adaptive Structures, Systems, Processes and People
Low High Difference
Return on Sales 6.3 10.3
63 Return on Assets 4.7
6.9 47 Return on Equity
16.6 22.8 37
Source Lawler, et. al
27
Are your Cases Firm Exemplar??

• Why?
• Why Not?

28
Who are these Companies?

• Visionary
• 3M
• Boeing
• GE
• IBM
• Motorola
• Nordstrom
• PG
• Sony
• Wal-mart

• Peer Companies
• Norton
• McDonnell Douglas
• Westinghouse
• Burroughs
• Zenith
• Melville
• Colgate
• Kenwood
• Ames

Good to Great, Jim Collins
29
EVA RESULTS Benchmarking Americas Best
Organizations Creating Economic
Value-Added (EVA) from Organizational Excellence

30
Exemplar/HPO Results
Average Cumulative Stock Returns 6.9 times
the general Market (in the 15 years of
following transformation)   G.E. Outperformed
the Market by 2.8 times (from 1985-2000)  
Invest 1.00 in 1965 in HPO Companies Value now
is 471 times compared to a 56 times increase
in the Market.   WALGREENS   - Before
1975 Average company/average performance  
- After 1975 to Jan. 2000 1.00 invested in
Walgreens beat - Intel by 2 times - G.E. by 5
times - Coke by 8 times - Stock Market by 15
times
                                       
31
Exemplar HPO Companies and Their Results
Results from Transition
Point to 15 Years beyond
T Year to Company
Transition Point T
Year 15
Abbott 3.98 times the market
1974-1989   Circuit City
18.50 times the market

1982-1997   Fannie Mae
7.56 times the market 1984-1999   Gillette 7.
39 times the market 1980-1995   Kimberly
Clark 3.42 times the market 1972-1987   Kroger
4.17 times the market 1973-1988   Nucor 5.1
6 times the market 1975-1990   Philip
Morris 7.06 times the market 1964-1979   Pitney
Bowes 7.16 times the market 1973-1988   Walgr
eens 7.34 times the market 1975-1990   Wells
Fargo 3.99 times the market 1983-1998
Source J. Collins, Good to Great, Harper
Business, 2002, p. 7
32
The Most Admired Organizations
From Fortune, March, 2002
 
33
FortunesBest Companies to Work For
34
FortunesBest Companies to Work For
35
FortunesBest Companies to Work For
36
(No Transcript)
37
   From Fortune, March, 2002
38
Biggest Companies By Market Value
39
The Challenge of Management
Best Stocks of the Decade
Change 1990-99
Cisco
124,825
AOL
81,400
Dell
72,400
EMC
68,314
CMGI
57,191
Solectron
21,233
Southwest Airlines
21,000
JDS Uniphase
18,755
Tellabs
16,921
Clear Channel Communications
13,700
Best Buy
,376
Maxim Integrated
8,735
Veritas Software
8,536
Charles Schwab
7,985
Microsoft
7,483
Sun Microsystems
7,163
Safeguard Scientifics
6,816
Qlogic
6,764
Yahoo
6,744
Qualcomm
6,388
Applied Materials
6,350
40
CSCO vs. 3COM Stock Price Growth
41
Exemplar KPI Data
42
1.   Output Analysis  
A. Summary of Your Case Organizational
Effectiveness
Required Analysis
43
1.   Output Analysis  
A. Summary of Your Case Organizational
Effectiveness
Required Analysis
44
Results/Outcomes Analysis Comparison of the
Firm, Core Competition of Industry and Exemplar
Organizations
Core Competition Within Industry
Exemplar Organizations
Your Firm
Results/Outcome Indicators of Organizational
Effectiveness

• I. Customer KPIs
• _______________________
• _______________________
• II. Business/Financial KPIs
• _______________________
• _______________________
• III. Employee Engagement KPIs
• _______________________
• _______________________
• IV. Innovation KPIs
• _______________________
• _______________________
• Societal KPIs
• _______________________

1 2 3 4
5 6 7
8 9 10
11 12 13
14 15
Note Three (3) points in time (for as many
as you can) for analysis --- 1991-95 1996-2000
and, 2001 Pick out the top 4-6 firms (in
terms of market share) average these competitor
outcomes.
45
Output/Results Analysis - 3
Comparison of Results Analysis by the
Following Three Data Points Improvement Over
Time



High Performance/ Five Categories
of Results The Firm
Their Core Industry
Exemplary Organizations
91 -95 96-00 01-03
91 -95 96-00 01-03
91 -95 96-00 01-03

• 1. Customers
• 2. Business/
• Financial
• 3. Employee
• Engagement
• 4. Innovation
• 5. Societal

x 1 x 1 x 1
y1
z 1
x 2 x 2 x 2
y 2
z 2
x 3 x 3 x 3
y 3
z 3
x 4 x 4 x 4
y 4
z 4
x 5 x 5 x 5
y5
z 5
Top 3 to 5 competitors that have the majority
of Market Share
46
Exemplar Outcomes/Results Analysis Indicators of
Organization Effectiveness-1
Your Core Industry Competition
Exemplar Organizations/ HPO
Your Firm

• Customer KPIs
• Satisfaction (third party measure)
  
  Excellent
• Delivery Time
  
  98.5-99.5
• Service Level
  
  Excellent
• Trust
  
  High
• Commitment (loyalty) to
  High
• Firm
• Level of Strategic
  
  Excellent
• Partnership
• Joint Projects/Processes/
  High No.
• Systems

Source B.A. Macy, Successful Strategic Chance,
San Francisco, CA Berrett-Koehler Publishers
(forthcoming).
47
 1. Example Customer KPIs
Your Case Name
48
Exemplar Outcomes/Results Analysis Indicators of
Organization Effectiveness-2
Your Core Industry Competition
Exemplar Organizations/ HPO
Your Firm

• Business Financial (Cont)
• Growth Volume/Sales
  
  15-20
• Rate
• Return on Assets (ROA)
  
  12-15
• Return on Capital
  
  12
• Employed (ROCE)
• Return on Equity
  
  23
• Return on Investment (ROI)
  
  20-25
• Return on Sales
  
  12
• EBIT Per Year
  
  14-18
• Stock Price
  
  High/Multiple
• Splits
• Annual Shareholder Return
  
  10
• Per Year
• Dividend Growth Per Year
  
  14
• Profit Growth Per Year
  
  11
• Sales Revenue Volume Per
  
  872,554
• Worker

Source B.A. Macy, Successful Strategic Chance,
San Francisco, CA Berrett-Koehler Publishers
(forthcoming).
49
Exemplar Outcomes/Results Analysis Indicators of
Organization Effectiveness-3
Your Core Industry Competition
Exemplar Organizations/ HPO
Your Firm

• Business Financial (Cont)
• Average Total Labor (fixed
• variable)Budget as a
• Percent of Total Revenue
  
  12 (2.4-BIC)
• Scrap as of Total
• Throughput
  
  2.05
• Rework as of Total
• Throughput
  
  1.41
• Customer Returns (lbs.)
  
  71 lbs. Per
• 
  
  million lbs.
• First Pass Prime
  
  100
• Cost Improvement Per Year
  
  5.0
• Productivity Improvement
• Per Year
  
  5.0 above
• 
  
  C.P.I.
• Quality Improvement Per
• Year
  
  6.0

Source B.A. Macy, Successful Strategic Chance,
San Francisco, CA Berrett-Koehler Publishers
(forthcoming).
50
Exemplar Outcomes/Results Analysis Indicators of
Organization Effectiveness-4
Your Core Industry Competition
Exemplar Organizations/ HPO
Your Firm
2. Business Financial (Cont) Average
Capacity Utilization Per Year


74.9 Average Total Availability Up-time
Per Year

82.4 Average
Pounds of Product Per Employee


181,843 Average Gross Revenue/Per
Employee

1,275,884
Source B.A. Macy, Successful Strategic Chance,
San Francisco, CA Berrett-Koehler Publishers
(forthcoming).
51
Exemplar Outcomes/Results Analysis Indicators of
Organization Effectiveness-5
Your Core Industry Competition
Exemplar Organizations/ HPO
Your Firm
2. Business Financial (Cont) Average
Maintenance as of

4.0 Total Site Replacement
Capital Average W.O. Maintenance
as 2.85 of Site
Replacement Capital Percent
Planned/Scheduled 52.17
Maintenance of Total Maintenance
Ratio of Maintenance Planners
5.20 to Mechanics Average
Cost Per Year of 3
HPO Implementation as of Total
Budget
Source B.A. Macy, Successful Strategic Chance,
San Francisco, CA Berrett-Koehler Publishers
(forthcoming).
52
2. Example Business and Financial KPIs
Your Case
53
Exemplar Outcomes/Results Analysis Indicators of
Organization Effectiveness-6
Your Core Industry Competition
Exemplar Organizations/ HPO
Your Firm
3. Employee Engagement Job Satisfaction

High (85th
per-


centile above) Trust

High
Growth Development

High Motivation

High Job
Security

Above Avg. to Commitment to Firm

High Employee
Behaviors Absences

2.0 or less
Accidents

1.0 or less

OSHA
Rate Turnover

2.0 or less Grievances

Less
than 1.0 Multi-skill

Great deal of


Multi-skill
Leadership

Shared w/Mgt. Employment Assurances

Mixed
Source B.A. Macy, Successful Strategic Chance,
San Francisco, CA Berrett-Koehler Publishers
(forthcoming).
54
3. Example Employee Engagement KPIs
Your Core Competition
Your Case
55
Exemplar Outcomes/Results Analysis Indicators of
Organization Effectiveness-7
Your Core Industry Competition
Exemplar Organizations/ HPO
Your Firm
4. Innovation No of New Products Per

Medium No. Year

(5-10) of
Present Revenue in
50-75 last
5 years from New Products
Product Extensions
High No.


(10-15)
Source B.A. Macy, Successful Strategic Chance,
San Francisco, CA Berrett-Koehler Publishers
(forthcoming).
56
4. Example Innovative KPIs
Your Case
57
Exemplar Outcomes/Results Analysis Indicators of
Organization Effectiveness-8
Your Core Industry Competition
Exemplar Organizations/ HPO
Your Firm
5. Societal Societal Responsibility

High Ethics

High Waste

Recycle


100 Air Pollution

None Water Ground Protection

None Charitable Contributions

High Level Leadership in the

High Level Community
Adopt a school/hospital
Yes
Source B.A. Macy, Successful Strategic Chance,
San Francisco, CA Berrett-Koehler Publishers
(forthcoming).
58
5. Example Societal KPIs
Your Case
59
Output/Results Analysis - 4
1. Customer Indicators

• Trust (of firms top management)
• Customer Satisfaction Third Party Measure
• Volume and Profit per Key or Preferred Customer
• Delivery Time
• Service
• Price
• Top to Top with firm and Customer expectations
• Shared Values and Goals
• Shared Vision Direction
• Mirror Teams Customer Account/Enterprise Teams
• Proximity (to customer)
• Joint EDI Systems
• Efficient Customer Response (ECR)

Source B.A. Macy, Successful Strategic Chance,
San Francisco, CA Berrett-Koehler Publishers
(forthcoming).
60
Output/Results Analysis - 5
2. Business Financial Indicators
1st Order 2nd Order
3rd Order

• Sales Revenue
• Sales Revenue/Volume
• Per Employee
• Return on Sales (ROS)
• Growth Market Share
• Return on Capital
• Employed (ROCE)
• Return on Assets
• Net Income Per Employee
• Earnings Per Share (EPS)
• Return on Investment (ROI)
• Return on Equity (ROE)
• Receivables Turnover
• Inventory Turnover
• Asset Turnover
• Earnings Per Employee

• Market Capitalization
• Increase in Stock
• Price (last 10 20
• years)
• Dividend Growths

• Productivity/Efficiency
• Customer Returns
• Product Scrap/Re-runs
• Costs
• Product/Service Quality

Source B.A. Macy, Successful Strategic Chance,
San Francisco, CA Berrett-Koehler Publishers
(forthcoming).
61
Output/Results Analysis - 6

• 3. Employee Engagement Indicators
• Employee Motivation
• Employee Commitment
• Employee Satisfaction
• Employee Job Security/Employment Security
• Employee Growth Development
• Hours per Employee Per Year of
  Training/Coaching/
• Development
• Increase Capabilities
• Employee Trust
• Employee Learning
• Absences (B)
• Turnover (B)
• Grievances (B)
• Safety/Accidents (B)

__________ Note B employee hard behavior
Source B.A. Macy, Successful Strategic Chance,
San Francisco, CA Berrett-Koehler Publishers
(forthcoming).
62
Output/Results Analysis - 7

• 4. Organization Innovation Indicators
• s of Revenue from Products 5 years or less
• No. of New Products/Year
• RD Timeline for Product Introduction
• Adaptability to Change
• Flexibility
• Cooperation
• Systemic Breakthrough Initiatives Thinking
  Out-of-the-Box
• Leveraging Skills, Knowledge and Abilities for
  better
• results

Source B.A. Macy, Successful Strategic Chance,
San Francisco, CA Berrett-Koehler Publishers
(forthcoming).
63
Output/Results Analysis - 8

• 5. Societal Indicators Societal Responsibility
• Ethical Behaviors
• Trust
• Societal Responsibility
• Adopt a School, Hospital, etc.
• Local and National support for charities
• Local community support
• Environmental Spills, Air Quality
• Re-cycling of Supplies/Consumables
• Green Waste Disposal

Source B.A. Macy, Successful Strategic Chance,
San Francisco, CA Berrett-Koehler Publishers
(forthcoming).
64

• Other Exemplar Data

65
HPO Results 150 U.S. Manufacturing Firms ---
Degree of Organizational Progressiveness 1978
thru 1983
Annual Change in Financial Performance
High Performance Measure
75 Most Progressive 75 Less
Progressive
1. Profit Growth
10.8
2.6
2. Sales Growth
17.5
10.7
3. Growth in Earnings Per Share
6.2
-3.9
4. Dividend Growth
13.4
9.2
______ Source C. Ichiowski, Human Resource
Management Systems and Performance of U.S.
Manufacturing Businesses, NBER Working Paper
3449, Sept., 1990. Index
Participation and Management Style culture
organization structure creativity reward
systems flexibility and accommodation of needs.
66
HPO Results 700 Publicly Held Firms in all Major
Industries Human Resource Practices and Outcomes
Based on an index of best human resource
practices prevalence, firms using more
progressive policies in these areas were
generally formed to have superior performance.
The 25 of firms (N700) scoring the highest on
the index Performed substantially higher on the
key performance measure below
Best Practice Human Resource
Index
High Performance Measure
Bottom 25 2nd 25 3rd 25
Top 25
1. Annual Shareholder Return
6.5 6.8
8.2 9.4
2. Gross Return on Capital
3.7 1.5
4.1 11.3
3. Price Cost Margin
.37 .39
.41 .44
4. Sales Per Worker
- -
-
Significant (more)
5. Employee Turnover
- -
- Significant
(less)
______ Source M. Huselid, Human Resources
Management Practices and Firm Performance,
Pre-publication paper, Rutgers University, June
15, 1993. Also see, Huselid, The Impact of Human
Resource Management Practice on Turnover,
Productivity, and Corporate Financial
Performance, Academy of Management Journal, Vol.
38, No. 3, 1995, pp. 635-672
67
Innovative Human Resource Practices and Their
Link to the Conditions for Economic Performance
Integration of HR with Production System and
Strategies
Skill/ Knowledge
Motivation/ Commitment
Innovative HR Practice

• Work Systems Index
• Work Teams
  x x
  x
• Problem-Solving Groups (Employee
• Involvement or Quality Circle
• Groups)
  x x
  x
• Employee Suggestions Made and x
  x
  x
• Implemented
• Job Rotation
  x x
• De-centralization of Quality-Related
• Tasks
  x x
  x
• HRM Policies Index
• Recruitment and Hiring
  x x
• Contingent Compensation
  x
  x
• Status Differentiation
  x
• Training of New Employees
  x x
• Training of Experienced Employees x
  x

Source J.P. Macduffie, Industrial Labor
Relations Review, Vol. 48, No.2, 1995, p. 203
68
Some Output/Results Exemplar Organizations
Results Goal Some Results
HPO/ Indicators
Exemplar
Organizations Change 10 years

• One Example Organization
• Volume/Employee
  35.5M
  245
• Sales/Employee
  884M
  246
• Earnings / Employee
  84.4M
  286
• 
  Actual 1991
  Actual 2002
• Return on Capital
  7.9 Overall
  11.9 Overall (5 yrs) 51
  Overall
• Employee (ROCE) 3.0
  Europe 12.3
  Europe (5 yrs) 400 Europe
• 
  9.3 Industry
  9.1 Industry (5 yrs)
• Return on Sales
  6.3
  11
  63
• Return on Assets
  4.7
  7
  47
• Return on Equity
  16.6
  23
  37
• Divided Growth
  9.2
  13.4

69
Some Illustrative Output/Results Exemplar
Organizations
Results
Actual
Change
Indicators (From)
1992)

• Customer Returns Per Year
  1,700
  lbs. per million
• Growth Rate Per Year
  
  10.2 - 17.5
• Gross Return on Capital
  
  9.4
• Price Cost Margin
  .
  .44
• Profit Growth
  
  10.8
• E.B.I.T.
  
  14
• Stock Market Volume
• Improvement Per Employee
  
  20-40K
• 
  
  Improvement
• Cost Improvement Per Year
  
  5.0
• Productivity Improvement Per Year
  6.0
  (above C.P.I.)

(x 11 year time period Fortune 500 1980-91)