GALVOR COMPANY
History and Background:
The Galvor company had been founded in 1946 by M Georges Latour who continued as its owner and president until 1974. The company had acted as a fabricator, buying parts and assembling them into high quality, moderate cost electric and electronic measuring and test equipment. On april 1, 1974 Galvor was sold to Universal Electric Company for $4.5 million worth of UE’s stock. M. Barsac replaced M.Chambertin as Galvor’s controller in April of 1974.
The Business Plan
The business plan was the primary standard for evaluating the performance of unit managers and everything possible was done by Universal’s top management to give the authority to the plan. Each January the Geneva headquaters of Universal set tentative objectives for the following two years for each of its European operating units. For each of over 300 Universal product lines in Europe, objectives were established for five key measures: sales, net income, total assets, total......
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