Glossary of Business Terms Master Keys   Glossary Meritocracy   People Power Reward System Inclusive Workplace   Meritocracy is a system, organization, or society in which people are chosen and moved into positions of success, power, and influence on the basis of their demonstrated abilities, effort, achievement, contribution, and merit. Advancement in such a system is based on performance, as measured through examination or demonstrated achievement.   Meritocracy is a key to empowerment, intrapreneurship, multicultural collaboration, and growth 10+. VadiK Inventor Author Founder A great company continuously measures and improves the following attributes: meritocracy, fairness, justice, openness, speed, imagination and excellence in execution. Naryana Murhty Infosys     Examples of Meritocracy       GE: Jack Welch established a meritocracy in GE. Under his leadership, GE switched to making hiring and promotion decisions based on ability and achievement. GE leaders involved everyone, set stretch targets, encouraged their people to take daring action, and rewarded extraordinary achievements. The GE Leadership Effectiveness Survey (LES) made meritocracy principles transparent and provided guidance for performance measurement.       InnoBall       InnBall (Innovation Brainball) entrepreneurial simulation game is a great meritocracy tool. It helps assess entrepreneurial smartness of players, find the right fit for each of them, and promote them accordingly.     Red Hat Inc. "While a meritocracy can be a bit of a bumpy road (lots of voices = lots of opinions = lots of data to dissect), at my company I have found that it truly does help us stay on the cutting edge and bring to light the best ideas. It also helps us keep associates engaged and fosters genuine leadership. What more could you ask for?" ~ James Whitehurst, is President and CEO   Creative Leadership Inclusive Leadership Stimulate Generation of Radical Ideas Cross-pollination of Ideas Tips