...the General Electric Company INTRODUCTION The General Electric Company (GE) is ranked among Fortune 500 as the 6th largest firm in the U.S. by gross profit as well as the 14th most profitable, #7 for executives, #5 best global brand, #82 green companies, #13 most respected companies and #19 most innovated firms. GE divisions include GE Capital, GE Energy, GE Technology Infrastructure and GE Home and Business Solutions. Through these divisions, GE is able to participate in a wide variety of markets, from industrial to lending and insurance. It sells a variety of products like lighting, industrial automation, medical imaging, motors, railway locomotives, jet engines and transmission/distribution of electricity. The company is headquartered in Fairfield, Connecticut and incorporated in Schenectady, New York. It employed 301,000 (131,000 in the U.S.) people as of December 2011. (http://www.ge.com/ar2011/pdf/GE-20120224-10K-20111231.pdf) The company recorded revenues of $142.24 billion during the financial year ended December 2011 (FY2011) this is a 4.58% decrease from FY2010. The decrease in net sales for FY2011 reflects the impact of the current economy here in the U.S. The operating profit of the company was $14.07 billion in FY2011, an increase of 8.9% over 2010. The net profit was $1.45 billion in FY2011. (http://www.marketwatch.com/investing/stock/ge/financials) HISTORY OF THE COMPANY GE was founded in 1878 by Thomas Edison in Menlo Park, NJ. In 1890 Edison started...
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...Study Case from Modern Banking by Shelagh Heffernan - Kidder Peabody Group – ‘‘But Leo’’, said Alan Horrvich, a third-year financial analyst at General Electric Capital Corporation (GECC) in September 1987: ‘‘I don’t know anything about investment banking. If I walk in there with a lot of amateurish ideas for what he ought to do with Kidder, Cathart will rip me apart. OK, you’re the boss, but why me?’’ ‘‘Look Alan’’, replied Mr Leo Halaran, Senior Vice-President, Finance of GECC: ‘‘we’ve got ten thousand things going on here right now and Cathart calls up and says, very politely, that he wants somebody very bright to work with him on a strategic review of Kidder Peabody. You’re bright, you spent a semester in the specialised finance MBA programme at City University Business School in London, you earned that fancy MBA from New York University down there in Wall Street, and you are available right now, so you’re our man. Relax, Si isn’t all that tough. If you make it through the first few weeks without getting sent back, you’ve got a friend for life. . .’’, he ended with a grin. ‘‘Me.’’ Mr Silas S. Cathart, 61, had retired as Chairman and CEO of Illinois Tool Works in 1986. He had been a director of the General Electric Company for many years and was much admired as a first-rate, tough though diplomatic results-oriented man- ager. After the resignation of Mr Ralph DeNunzio as Chairman and CEO of Kidder Peabody following the management shake-up...
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...Peter Demerjian 02/24/2013 ACT 563 Course Project General Electric (GE) Table of Contents Phase 1 Initial Survey and Engagement Development Pages 1-4 Phase 2 Planning Phase Pages 4-8 Phase 3 Work Program Phase Pages 8-12 Phase 4 Field Work Phase Pages 12-19 Phase 5 Findings and Recommendations Pages 19-20 General Electric (GE) seems to be a very high profited company which seems to be growing in profitability based on the way they do business and how they train their employees to be the best at what they do. Based on the articles I have read GE prides itself in training and leading its employees to grow and mature. The culture seems very open to smart and talented business professionals. “If businesses managed their money as carelessly as they manage their people, most would go bankrupt.& The authors believe that for a CEO it is in your and your company's best interest to know what your employees are capable of. This is done by having a file on each employee - not just the basic information, but having interviews with colleagues and superiors. An example is the CEO of General Electric's appliance wing, Larry Johnston. When he decided to quit, the heads of General Electric knew exactly who the candidates were to replace him. On the same day General Electric announced his resignation they also announced his replacement. This is done through what Conaty explains as General Electric's Operating System which has three main phases: people; strategy; and operations...
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... Indian CA Languages: English, Hindi, Gujarati USA 92301 Date of Birth: September 25th 1983 Mobile: 0413232560 OBJECTIVE: Seeking a mutually rewarding position in accountancy & finance, which will utilise my skills and ability and provide a room for personal growth. SUMMARY: Ability to pay attention to the details. Strong organisational methods. Well developed interpersonal skills. Effective as a team member and comfortable in leading one. Self motivated and determine. EMPLOYMENT AJ GROCERY ( Australia) Working as part time, doing customer service sell of the goods to the customer taking cash. GE CAPITAL (CUSTOMER SERVICE) (CARDS UNDERWRITING) – U.K March 2007 – February 2008 GE capital bank/ GE Money, as card underwriter associate. My main responsibilities are checking customers credit history, taking decision about credit limit. Also I got authority to accept or decline application. My team leader name was Linda Brook My main duty was to handle the call of the high street store and check the credit history of the customer and issue them the store card or the master card if there credit rating are fine. Halifax plc (HBOS)(May 2006 –May 2007) Administrator – U.K I was appointed as administrator where I have to do Scaning and sorting the documents and also working with other departments like data enty, microfilming as a part of the administration work. Orange (September 2004...
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...future? The firm’s strategy for future is to divest consumer-facing assets because of the volatile and highly competitive nature of the consumer facing business, and acquire and boost commercial- facing assets. 3. How does General Electric intend to grow? Does if grow through acquisitions? Yes, the firm grows through acquisitions. Its much-awaited “Alstom” acquisition is set to close halfway through the campaign. The firm’s strategic growth model focuses on building global relationships with sponsors, vendors, Original Equipment Manufacturers (OEM’s), and global mid-market corps. Expanding product franchising is also another key aspect of their model. The firm expects a growth in its EPS in both 2015 and 2016 even as it repositions GE capital and expects gains to equal restructuring. 4. What is General Electric’s competitive environment? Who are its main competitors? The worldwide competition in aircraft jet engines and MRO (including parts sales) is intense. Both U.S. and export markets are important. Product development cycles are long...
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...Course Project General Electric (GE) Table of Contents Phase 1 Initial Survey and Engagement Development Pages 1-4 Phase 2 Planning Phase Pages 4-8 Phase 3 Work Program Phase Pages 8-12 Phase 4 Field Work Phase Pages 12-19 Phase 5 Findings and Recommendations Pages 19-20 General Electric (GE) seems to be a very high profited company which seems to be growing in profitability based on the way they do business and how they train their employees to be the best at what they do. Based on the articles I have read GE prides itself in training and leading its employees to grow and mature. The culture seems very open to smart and talented business professionals. “If businesses managed their money as carelessly as they manage their people, most would go bankrupt.& The authors believe that for a CEO it is in your and your company's best interest to know what your employees are capable of. This is done by having a file on each employee - not just the basic information, but having interviews with colleagues and superiors. An example is the CEO of General Electric's appliance wing, Larry Johnston. When he decided to quit, the heads of General Electric knew exactly who the candidates were to replace him. On the same day General Electric announced his resignation they also announced his replacement. This is done through what Conaty explains as General Electric's Operating System which has three main phases: people; strategy; and operations and budgets.” (2)...
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...rightfully forced some changes in the deal structure. To win the approval from the French government, GE’s newest proposition involved setting up joint ventures in renewable energy, electricity grid equipment and nuclear power. In fact, the value of the stakes Alstom will own in the three joint ventures is estimated to be about €2.6bn which means that the net cash cost of the deal for GE is about €9.7bn. Moreover, the US and European regulators required the sell-off of part of the GE’s turbine business to the Italian Ansaldo Energia in order to keep the market competitive. Before GE got the “green light” from Paris, there was lot of competition between GE and the joint offer of Siemens and Mitsubishi Heavy Industries for the acquisition of Alstom, even though the board of Alstom favoured GE’s clear and simple offer. Moreover, GE promised to add about 1000 new jobs in France, where it has had large existing operations for decades. On the other hand, the government liked the fact that Mitsubishi-Siemens offer was based on forming a partnership and was not going to be a takeover. Finally, when GE modified its proposal, it won the war. About General Electric General Electric, headquartered in Fairfield, Connecticut (US), is a multinational leading corporation with a highly diversified business. General Electric is a key player in the...
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...Chapter 8 – Implementing six sigma at GE Fanuc I. PROBLEM Capturing failures in a more timely and cost-effective manner II. OBJECTIVES 1. To improve efficiency and reduce variance in internal operations 2. To focus on reaching and exceeding customer satisfaction through six sigma 3. To train more skilled and motivated employees to match the expected changes of the organization’s operations III. ALTERNATIVE COURSES OF ACTION a. Strategic planning and systematic evaluation for final tests of products Advantages: * It provides a regular evaluation of company operations and directions, with opportunities to make improvements to actions, activities, and strategies, and most of all, it is very efficient in reducing cost. Drawback: * it will take time and is hassle to accomplish b. Assessment on the costumers preferences if it fits to the company’s Advantage: * It will help the company decide well if their innovations brought good effect to their company and if it meets what customers’ preferences. Drawback: * It consumes much time and cost c. Evaluate skilled workers if they match the changes in performance and motivation Advantage: * will be very useful to ensure they qualify and follow certain standards Drawback: * some employees might be found not productive and contributing enough IV. CONCLUSION I conclude that the company needs to get an overall picture in reducing their cost while focusing on the performance...
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...STRENGTHS Global recognition: General Electric has ventured into the world market thus gaining global recognition for its unique goods and services. In the year 2009, Forbes magazine ranked GE as the world's largest company. Hurbert (2007) notes that General Electric's brand is the world's most recognized brand. This kind of recognition has given it a competitive edge over other companies due to its ability to attract more customers. Global strength and competitiveness:The Company’s products have been recognized for their quality and the company is known for meeting customer-specific needs (General Electric, 2009). As a result, it has attracted numerous clients including corporations and government agencies and its competitive position is quite favorable. GE is the biggest lender in many of the countries where it invests with exception of the United States (Hurbert, 2007). Its power generation equipment generates a quarter of the world's electricity everyday. Excellent Management: GE utilizes a unique management style, whereby business operations are divided into business units. Each business unit plays a distinct role within the company and has its own independent management. Examples include GE Commercial Finance, GE Equipment Services, GE Energy, GE Insurance, and GE Consumer Finance among others. This kind of management style increases productivity due to the high level of accountability and efficiency that business unit managers are expected to maintain. Diversified...
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...Employee Evaluation Form |I. Employee Information | |Employee Name |Job Title | |Supervisor/Reviewer |Review Period | | |From: / / To: / / | |II. Core Values and Objectives | |Performance Category |Rating |Comments and Examples | |Quality of Work: |( Exceeds expectations | | |Work is completed accurately (few or no |( Meets expectations | | |errors), efficiently and within deadlines with |( Needs improvement | | |minimal supervision |( Unacceptable | | |Attendance & Punctuality: ...
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...Kristal Charles November 11, 2013 EDU 225 Christy Faux Software to Support Assessment Using assessments can be very a very difficult part of teaching. Evaluating a child’s performance in school can be very hard, but a necessary part of the educational process. For many, assessments mean test. Students and parents view these assessments as a way to out-do their classmates and compete to see who is able to get the highest grade. They don’t view these assessments as a way to know if they understand the things being taught. Assessments are created to serve a purpose. They help diagnose learning disabilities, identify a student in need, and help the district meet their yearly goals Technology to Facilitate Ongoing Efforts to Assess Student Learning Teachers are able to use technology in many different ways. Teachers us observation, making adjustments when needed in a lesson, communication, written assignments, and giving tests to help each student know their strengths, and weaknesses. To make sure no child is left behind a teacher needs to evaluate the child’s daily, monthly, and quarterly progress. This will help the teacher understand what is each child still needs help on. By modifying the curriculum for some of the children this will help each one individually. Students should have the opportunity to use assessments in their class to help understand all the tasks that are being assigned during. The software being used can include many things. Including presentation...
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...Self- Assessment Orlando Polite Juanita Murrell BUS 520 – Leadership and Organizational October 21, 2013 The Johari Window is for improving self-awareness, and mutual understanding between individuals. It can also be used to assess and improve relationships with others. Recognizing what others see in us is something that we may not be aware of and accept. One must believe and trust an individual before sharing personal information ("Johari Window," 2010). This paper will discuss some profiles of my personality characteristics and evaluation results. Also summarize assessment results. Then analyze how the scores play a part with relationships and career choices. The profile of my features displays my personal preference and is consistently decisive. I tend to get work done under stressful conditions. I show a lot of positive feedback as a manager. I am extremely confident with my work and decisions. Managers are not perfect, so we tend to make mistakes and learn from them. Being able to take criticism makes an individual a better person and a good manager. Being able to work long hours and with standing prejudices and biases situation is one of my strong points (Schermerhorn, Osborn, Uhl-Bien & Hunt, 2012). My primary mission as a leader is change. I have a lot of concern on what my employers want in life and always thinking of the long term. In this position, I am not only a leader but a teacher. Employees...
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...WEEK 8 ASSIGNMENT 2 Creating Your Dream Job STUDENT: NDOWAR, TECUMSAY PROFESSOR: MCGRATH, CHRISTOPHER BUS310 DATE: DECEMBER 1, 2013 PAGE 1 Create a job description and specifications for your dream job. Research and Development Specialist Job Description: Execute and lead all product research and development activities for approved business initiatives in a cross-functional and collaborative manner in an effort to support in coordinating design, development, validation, and documentation of systems & components. Provide technical support in response to customer needs and typically interacting with engineers at commercial, industrial, and other establishments. Collaborate with other personnel throughout the organization. Assess customer needs and develop solutions utilizing company resources to meet those needs. Communicate project specifics with company’s operational personnel to ensure that the objective of the project is accomplished in accordance with the customers schedule and needs. Provide accurate and current progress reports to management on the status of work activities including critical customer-related activities, and other projects as assigned. Product development, product improvement and product testing. Lab and Field performance testing. Project specific performance improvements. Customer correspondence for all...
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...Central Luzon Division of City Schools DAYOS COLLEGE OF SCIENCE AND TECHNOLOGY Makati City S.Y. 2014 – 2015 VISION/MISSION The institution aims to empower the students to become successful and productive individuals of the society by building programs that will help them further develop their skills and give them knowledge and values that they can use in the future. The institution is committed to provide activities and offering services that will hone them to become competent individuals in the future. GUIDANCE SERVICES/PROGRAMS | SPECIFIC OBJECTIVES | ACTIVITY/METHODS/STRATEGIES | TIME FRAME | MATERIALS | TARGET PARTICIPANTS | Testing Services * Entrance Examination * Personality Tests * Mental Ability * Aptitude Tests * Achievement tests * Assessment of Values and Habits * Emotional adjustment | * The students will be able to gain further knowledge about their strengths and weaknesses * The guidance counselor and teachers will be able to provide basis for research and information on other needs of the student * The students will be able to know their potentials | * Notification of applicants * Administration and scoring of tests * Interpretation of tests results * Dissemination of test results | * April to May 2014 * All year round | * Test papers * Folders | * Incoming First Year College Students * All Students | Information Services * EnrollmentOrientation * Consultation Information Forum | * To provide...
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...components and ensure that each component has been adequately met. According to Louwers, Ramsay, Sinason, and Strawser (2007) the five components to internal controls include: 1. Control environment – Involves the tone of the organization and includes “the integrity, ethical values, and competence of the company's people” (Louwers, Ramsay, Sinason, & Strawser, 2007). 2. Risk assessment – Involves a thorough assessment which “identify(s) risks, estimate their significance and likelihood, and consider how to manage the risks” (Louwers, Ramsay, Sinason, & Strawser, 2007). 3. Control activities – Involve specific actions which help ensure that management’s objectives and expectations are carried out. 4. Monitoring – Ongoing evaluation of internal controls performed on a timely basis. 5. Information and Communication – Relates to the efficiency and reliability of information and communication refers to how the information is presented to communicated to users. |Defining the Control Environment |Yes/No | |Is there a clear method of assigning authority and responsibility? | | |Is there a clear transparency within the audit trail? | | |Are company policies and practices accessible understood at the employee level? ...
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