Pros
Performance expectations are generally well defined. If an employee can meet the performance expectations, he/she will be very competent. Employees will definitely know when they are not measuring up and are given plenty of opportunity to shape up.
Cons
Expense management swings to one extreme or the other. When business is booming, a lot of money is wasted on unnecessary meetings and travel. When the market goes soft, routine and ordinary expenses are sometimes disapproved. Corporate management has failed on getting computer systems updated and integrated. Some positive changes have been made within certain business units but overall, it's an IT and Operations jungle. Layoffs are disguised as staff adjustments or terminating poor performers.
