For any corporation the only game is making as most money as possible. Employee growth is irrelevant. A shareholder can even sue the company if it does not do this, so is not only the PHB and CEO fault.
As a side note:
For any government the only game is to carry on with the bribes and extortion racket as much as they can. Anything else is irrelevant. 75% of a politician time is spend on fund raising (aka looking for bribes).
This is why my company doesn't have "upward" 360 reviews. Only peer level and people "below" you. No manager ever receives a peer review from his or her reports here. Nor do we ever get to read the feedback - only our management receives it. Do you detect the problem with this? Or how it might only useful as a method to lower a employee's score / wage increase potential, rather than a tool for growth?
A lot of companies make the mistake of incorporating 360 into the PAE. NOT GOOD! The best way I've seen it done is that employees can ask for a 360 on their own, for personal development, but it's not used by the supervisor for PAE.