...over 20 years into mandatory retirement. For every mandatory retirement that the company forces, that is one potential job saved. Now we are not saying that the company needs to force retire 100 salary employees and 950 union employees, but if even they we able to retire half from each category that would help them stay competitive in the marketplace. We are trying to save jobs. So we need to get rid of the old dinosaurs that are not up with the current trends that GE needs to stay competitive with. Another potential creative solution for the problem could be for GE Transportation to find new, create new, or adjust their current marketing strategies. Clearly orders and productivity are down. If GE was to find a new strategy to boost revenue and productivity then they would not be forced into implementing this layoff plan. Let it say these new strategies boosted productivity by even 20% that can cut down 20% of the 1050 employees they had planned to let go. It is common knowledge that if you have a strong marketing strategy then chances are you will be successful. Why solutions will work Forcing employees that have been with the company over 20 years into mandatory retirement is one of the most effective solutions we feel will work. With the lack of jobs, it’s a good idea to force them to a part time job or a complete retirement to give a chance to a younger person that needs to take care of his family. Another reason we feel it’s a good idea because the world is steadily...
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...management process and indicate why strategic management is needed in a company, furthermore, a description of how General Electric (GE) uses strategic management process in their company. Components of a Strategic Management Process The first component is environmental scanning, which is basically gathering information from external and internal environments to key people within the corporation. Its purpose is to identify strategic factors that will establish the future of a corporation. An easy way of predicting the future of a corporation is through a SWOT Analysis. SWOT is used to describe the strengths, weaknesses, opportunities, and threats for a specific company. The external environment consists of opportunities and threats (Wheelen & Hunger, 2008, p. 11). These variables happen outside the organization, which management has no control over. For instance, one company does not have the right to prevent another company of marketing the same product or service. Company A must strive to become better than other competitors. On the other hand, the internal environment consists of strengths and weaknesses—these variables measure the structure, cultures, and resources within an organization. It also can be used to gain a competitive advantage. Strategy Formulation Strategy formulation is the second element. It measures a company’s long-term plans that focus on the mission, objectives, strategies, and policy guidelines. A mission statement defines the unique purpose that...
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...CHAPTER LEARNING OBJECTIVES In this chapter, we will address the following questions: 1. What is the business market, and how does it differ from the consumer market? 2. What buying situations do organizational buyers face? 3. Who participates in the business-to-business buying process? 4. How do business buyers make their decisions? 5. How can companies build strong relationships with business customers? 6. How do institutional buyers and government agencies do their buying? CHAPTER SUMMARY 1. Organizational buying is the decision-making process by which formal organizations establish the need for purchased products and services, then identify, evaluate, and choose among alternative brands and suppliers. The business market consists of all the organizations that acquire goods and services used in the production of other products or services that are sold, rented, or supplied to others. 2. Compared to consumer markets, business markets generally have fewer and larger buyers, a closer customer supplier relationship, and more geographically concentrated buyers. Demand in the business market is derived from demand in the consumer market and fluctuates with the business cycle. Nonetheless, the total demand for many business goods and services is quite price inelastic. Business marketers need to be aware of the role of professional purchasers and their influencers, the need for multiple sales calls, and the importance of direct purchasing, reciprocity, and leasing. 3. The buying...
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...equity? How can brand equity be measured? How do you capitalize on brand equity to expand your business? Its basic objectives are to (1) provide an understanding of the important issues in planning and evaluating brand strategies, and (2) provide the appropriate concepts and techniques to improve the long-term profitability of brand strategies. The course consists of lectures, exercises, and case discussions. The course content has relevance to students pursuing a variety of different career goals in virtually any type of organization (public or private, large or small, etc.). Course Organization and Administration Strategic Brand Management is a marketing mini-elective that is designed to improve student’s marketing skills and understanding of specific branding topics, as well as “big picture” issues of how various aspects of marketing “fit together,” all from a brand equity perspective. Accordingly,...
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...Select a GLOBAL Fortune 500 company (it cannot be one you work for) that operates in the United States and in other nations around the world. You will be using the same firm for the Unit 5 Assignment and the Unit 6 Final Project, so make sure it is one you are interested in and that has plenty of good sources of information available. A.Summarize the firm’s history, its recent and current operating results, and the economic, social, and political forces that affect it most. B.Present a brief SWOT analysis (Strengths, Weaknesses, Opportunities, Threats). C.Discuss the factors it will need to predict, plan for, and adjust to in the future. INTRODUCTION GE is an American Multinational corporation established in 1892 by the amalgamation of Thomas Alva Edison’s Edison General Electric and Thomson-Houston Electric Company .GE at present operates at the same time in five varied business segment namely: Media (as NBC Universal in cable and film), Energy (e.g. oil and gas), Infrastructure (e.g. Aviation and Healthcare), Home and Business Solutions(Appliances platforms) and Finance ( as GE Capital commercial and consumer finance). GE now has businesses in about 160 countries and approx. 300,000 human resources worldwide. The company’s head office is situated at Connecticut, USA. General Electric is one of the world’s leading diversified business firm widely known for its high quality, advance and technical expertise,...
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...Cultural Assessment of General Electric Learning Team A Human Relations and Organizational Behavior March 14, 2005 Cultural Assessment of General Electric The corporate culture of General Electric (GE) is a composite of its people, leadership, organization, structure, and processes from past to present. This paper will provide an assessment of the corporate culture of GE, and provide an insight into the dynamics, which have made it one of the world’s premier companies. The aspects of General Electric’s culture begin with its leadership, and progress through its management, workforce, policies, and objectives. GE leadership provides corporate direction with a formalized set of values and action verbs, which guide the organization (GE, 2005). In lieu of a corporate mission statement, GE identifies its key strategies and initiatives in its annual Letter to Stakeholders (GE, 2004). The corporate office maintains a distinct presence among its sprawling empire. This empire is composed of a worldwide workforce, which is involved in a myriad of activities. To lead this powerful organization, management is trained and indoctrinated into the GE culture. The myths, and legends, surrounding General Electric, lend to the cultural identity shared by the entire workforce. Training, organization, and structure are established and maintained through several processes, and programs, which contribute to GE’s cultural identity. General Electric’s...
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...unnecessary bureaucratic work out of the system while providing a forum in which employees and their bosses could work out new ways of dealing with each other. . Groups of 40 to 100 employees were invited to share views about their business and how it might be improved. The three-day sessions usually began with a talk by the unit boss, who presented a challenge and a broad agenda. Then, the boss was asked to leave, allowing employees aided by facilitators to list their problems, debate solutions, and prepare presentations. On the final day, the bosses returned and were asked to listen to their employees’ analyses and recommendations. . The rules of the process required managers to make instant, on-the spot decisions about each proposal, in front of everyone to 80% of proposals. Moving beyond the earlier initiatives aimed at strengthening GE’s individual businesses, Welch began to focus on creating what he called “integrated diversity.” He articulated his vision for GE in the 1990s as a “boundaryless” company, one characterized by an “open, anti-parochial environment, friendly toward the seeking and sharing of new ideas, regardless of their origins”—in many ways an institutionalization of the openness “Work-Out” had initiated and “best practices” transfers had reinforced. Describing his...
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...Model; 8 Graphic describing a Porter’s Five-Forces analysis for your industry; 9 Organization’s value-chain 12 Balanced scorecard 13 Strategic alternatives; 15 Final recommendations 16 Bibliography 19 Executive Summary During February 12 of this year the wholly owned subsidiaries GE, GESC, and GECC will be merged together. Part of it was the manufacturing actual physical business the other was the subsidiaries and the next was the financial services GE Capital. The merger of GE and affiliates is not reflected in his financial analysis as of February 12, 2012. This is a statistical analysis on GE. GE has different parts of the company, which use different terms. Not to be confused GE, GESC, and GECC are different sectors of general electric. Their consolidated financial statements help to better accurately comply with the different financial and accounting methods to give a precise perspective on the entire company. GE is the most common use term and the one that were most familiar with. GESC is the financial services department that looks like a bank; and, GECC is just a term used for subsidiaries across the world. Stakeholder Analysis GE has experienced significant growth in the stock price from the low teens to the upper 20s. However the historic high is 39.50 and is down roughly 54% from five years ago before the 2008 financial crisis....
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...to be turned on either. To communicate this to the customer they utilize a well-designed website and also put this on the packaging. To help sell the product and to also further communicate value, Jasco has a licensing agreement with GE. The second category of plug-in lights are the Projectables. Projectables are an innovative way to market to kids. They project their favorite Disney, Nickelodeon, Marvel, or DC Comics character on the ceiling for a night light and entertainment utility. Jasco does not advertise so their primary way of reaching their consumer is to package the product nicely. With the licensing agreements with Disney, Nickelodeon, Marvel, and DC Comics, Jasco utilizes that recognition to help sell their products. Jasco utilizes video demonstrations on their website as well as YouTube. In the Jasco building there is a production studio to increase this unique capability. Since many people don’t know about Jasco most of their communication with customers is via Amazon reviews. This is their form of customer relationship management where they can find out first hand what people like about their product and what needs to change. Jasco has also recently implemented a call center and an internet marketing team. When talking with marketing employees...
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...Boeing’s Final Marketing Plan 1 Boeing’s Final Marketing Plan Silva B. Adeniyi Marketing Planning & Strategy – B6026 Professor Victor A. Oladapo August 15, 2011 Boeing’s Final Marketing Plan 2 Boeing’s Final Marketing Plan Executive Summary The executive summary is to give the reader an overview of the main points in the marketing plan (Rossiter, 2011). The Boeing Company, established by William Boeing, during World War 1 era. Navy Lieutenant Conrad Westervelt and Boeing became friend’s after watching the 1910 air races at Belmont Park, New York. On July 4, 1914. Boeing enrolled in Glenn Martin’s flying school and bought a plan of his own. A former shipyard was the first home of The Boeing Company, which was founded in 1916 in Seattle, Washington (Rumerman, n.d.). Today Boeing’s headquarters is in Chicago, IL. It is the commercial airplanes leading manufacturer and largest aerospace company in the world. There are two major divisions at Boeing: Defense, Space, and Security and Commercial Airplanes. A minor division at Boeing is Capital Corporation. Boeing’s Capital Corporation makes possible the delivery and sale of Boeing services and products by providing advice on leasing and financing solutions. Recommendations * In emerging markets become a first mover by promoting new Dreamliner 787 and exploit the growing air passenger traffic in China * To avoid costly manufacturing delays, create a team able to speak several...
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...MG514 Managerial Economics v 2.0 Project Submission The Feasibility Report presented before you will summarize two firms, the Whirlpool Corporation and General Electric Company detailing the industries, products, supply and demand, scope of production, cost structure, market condition impact and performance in which the industry can operate optimally. In regards to the hypothetical firm that has decided to set up a production plant. This report will explore the various aspects of the proposed project and a recommendation if whether the project is feasible. The Whirlpool Corporation and General Electric Company are in the industry associated in the manufacturing consumer durable “white goods” (Thefreedictionary.com, 2012). Whirlpool and General Electric are common household appliance brands and one of the products that every household carries is the typical standard household refrigerator or other derivative designs. The prevalent demand and supply structure in the industry of consumer durable white goods is that the global major appliance industry is expected to record close to 4% yearly growth in demand through 2015 to reach a volume of 400 million units. The United States white goods market is witnessing recovery due to recovery in the wider economy. Demand is expected to come from housing market recovery in 2015, and also because consumers are beginning to upgrade to superior equipment as income levels rise (Reportlinker.com, 2012). Shipments...
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...MARKETING REPORT FOR BOSCH KETTLE (TWK 6831) COURSE: MSC MANAGEMENT MODULE: MARKETING MODULE LEADER: DR BRIAN JONES HARIS HUSSAIN ZAHID (77054487) MUHAMMAD ALI (77055851) TITTO THOMAS (77044182) SUBMISSION DATE 18TH APRIL 2008 Leeds Metropolitan University Leeds Business School Contents Page No 1 Introduction 2. The Marketing Environment 2.1 Macro Environment (a) Political and Legal Environment (b) Economic and Competitive Environment (c) Social Cultural Environments (d) Technological Environment 2.2 Micro Environment 2.3 Competition (a) Competitors of Bosch Kettle 3. Critical analysis of relevant theories 3.1 SWOT Analysis 3.2 Portfolio Analysis 3.3 Porter’s Matrix 3.4 The Boston Matrix (The Product Portfolio) 3.5 Response Hierarchy Model (a) The AIDA Model (b) The innovation – adoption Model (c) The DAGMAR Model Market Attractiveness Model: the GE matrix 3.6 Critical Analysis 4. Critical Analysis of Buyer Behaviour 4.1 Consumer as Buyer 4.2 Conclusion and Analysis 5.0 Buyer Behaviour 5.1 Buyer Behaviour Role in Marketing 5.2 Consumer as Buyer 5.3 Why People Buy 5.4 How people choose (a) what influence Buyers? 6.0 Segmentation Targeting and Positioning Strategies 6.1 Segment Identification 6.2 Consumer basis 6.3 Physiographic 6.4 Geodemographics 6.5 Psychographics ...
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...named in the proxy statement for the coming year; • to approve our named executives’ compensation in an advisory vote; • to ratify the selection of our independent registered public accounting firm for 2013; and • on the shareowner proposals set forth on pages 44 through 49, if properly presented at the meeting. Shareowners also will transact any other business that may properly come before the meeting. You are eligible to vote if you were a shareowner of record at the close of business on February 25, 2013. Please ensure that your shares are represented at the meeting by promptly voting and submitting your proxy by telephone or the Internet, or by completing, signing, dating and returning your proxy form in the enclosed envelope. If you plan to attend the meeting, please follow the advance registration instructions under “Information about Attending the 2013 Annual Meeting and Advance Registration” on page 51 and watch for an admission card in the mail. You will need this card to enter the meeting. We will provide a live webcast of the annual meeting from our Investor Relations website at www.ge.com/investor-relations. Cordially, Jeffrey r. immelt Chairman of the Board Brackett B. denniston iii Secretary...
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...1. Determine and discuss a pricing strategy (Penetration and Skimming) The penetration pricing strategy approach is what we are going use to represent our SONO water filter products in today’s market. Since it serves as many customers as possible representing different valua¬tions, this pric¬ing model will be our best option. The advantage this approach holds for us is the low volume customers, who presumably have a relatively lower valu¬ation for water consumption, will purchase fewer replacement filters. Conversely, high volume customers, who presumably have a larger consumption rate than single families will pur¬chase more cartridges. The result will be making more money on the high valuation consum¬ers, as the price for the pitchers will be reasonably cheap for both the target consumers. It’s a brilliant pric¬ing strategy that captures the value cus¬tomers place on our product. In other words we will be approaching the market with the razor/razor blade model.2 2. Determine and discuss pricing tactics (product line pricing, Value pricing, Differential pricing, or Competing against private brands) to be used for your product. Since Sono Filter brand name and logo has enormous recognition in the Asian Market our objective will be introducing it as a new manufacture in the United States and to become a brand of choice during consumers purchasing decision. The private labeling will become a significant component of the water filtration industry and that a plethora of distributors...
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...Secretary of Defense Corporate Fellows Program FINAL REPORT UNITED TECHNOLOGIES CORPORATION Lt Col Clyde M. Woltman, USMC June 2002 TABLE OF CONTENTS Table of Contents I Introduction ii Chapter 1…United Technologies Corporation The Sectors…Corporation Overview 1 Corporate Strategy, Culture, Environment 2 “Most Admired”…A UTC Legacy 2 Chapter 2…Pratt & Whitney Organization 3 Strategic Planning Process 3 Road Maps 4 Transformation 5 “The Great Engine War” 6 Leaness 7 ACE 8 Competition…Lessons Learned? 10 Chapter 3…Maintaining the Edge Leadership Challenge…Transforming Culture 14 Growth…The Key to the Future 14 “Re-inventing the Business” 15 Enterprise Resource Planning Initiative 16 Strategic Approach to Managing Human Resources 19 Employee Services 20 Chapter 4…For DoD Lean Thinking in DoD 22 Achieving Competitive Excellence in DoD 22 Outsourcing…”Keeping Our Core Competencies in House 23 Employee Education 23 Life After the Military Service…Improving the Odds 25 Adages of Human Resources 25 Bibliography 26 INTRODUCTION Assignment Overview I was assigned as a Secretary of Defense Corporate Fellow to Pratt & Whitney Corporation, one of the six principal Sectors of United Technologies Corporation (UTC). My initial assignment with Pratt was to the F135 Joint Strike Fighter (JSF) Engine Program at the Military...
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