...Executive Summary “GE works on things that matter. The best people and the best technologies take on the toughest challenges. Finding solutions in energy, health, home, transportation, and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE Works.” (GE’s company statement)[i] This report will analyze GE’s management of its operations by first listing the various products and services within their operational infrastructure and by breaking down GE’s competitive environment. It will then describe GE’s operational processes. The operational management analysis includes research into product/process designs, outsourcing, quality management, and the role of employees. The impact of GE’s Operations Management Leadership program will also be discussed. This report will conclude with how the management of these processes contributes to the firm’s overall strategy. With its beginnings tracing back to Thomas Edison, General Electric (GE) was founded in 1892. It is the only company that was listed in the Dow Jones Industrial Index both in the late 1800’s and now. At the end of 2011, GE was #6 on the list of Fortune 100 companies with over $125 million in annual revenues. Headquartered in Fairfield, Connecticut and operating in over 100 countries, GE employs close to 300,000 people worldwide. While many other companies were struggling to keep up during the most recent recession, GE brought in net earnings...
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...appropriate, blatant advertising may be marked for speedy deletion with {{db-spam}}. (October 2014) Genpact Limited Genpact logo cmyk.jpg Type Public Traded as NYSE: G Industry IT, business process outsourcing Founded 1997 Key people N.V. Tyagarajan (president and CEO) Revenue Increase $ 2.1 billion (2013) Employees 65,000+ (2014) Website www.genpact.com Genpact is a multinational business process outsourcing and information technology services company, domiciled in Bermuda with executive headquarters in New York. The company reported net revenues of $2.1 billion (2013)[1] with more than 65,000 employees (2014) serving clients from 25 countries. Its current clients include more than 100 of the Fortune Global 500. N. V. Tyagarajan,[2] president and CEO of Genpact, has led the company since his appointment in June 2011.[3] Genpact was established in 1997 as a business unit within General Electric. In January 2005, it became an independent company and in August 2007 a publicly traded company (NYSE: G).[4] Contents [hide] 1 Locations 2 History 3 Select Awards and Recognition 4 Executive leadership 5 References 6 External links Locations Genpact has 73 delivery centers and a presence in 25 countries worldwide. History Genpact began in 1997 as a business unit within GE. Its charter was to provide business process services to GE's businesses, with the goal of enabling outstanding efficiencies. During the eight years that followed, Genpact began to manage a wide range...
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...QUESTION 1 Based on the definition in chapter, GE under Jack Welch was not able to fulfill his duty. Even though he did create considerable wealth during his tenure as CEO, he did so at the cost the societal harmony and environmental well-being. According to the case, during his time as the CEO of GE, he fired a large number of employees due to underperformance, or because of outsourcing. Additionally, it was under his leadership that GE had severely polluted in the Hudson River, and more importantly, lobbied against its clean up at GE’s expense. Furthermore, while he enjoyed a large number of perks during and after his time at GE, he created a pension fund that was unfair to workers at GE. Based on his actions, we believe he did not fulfill his duty, as defined by Chapter 5. We believe he could certainly have done better. The phenomenal growth GE achieved during his time was by prioritizing wealth creation over responsibilities to stakeholders such as employees and the environment. Be believe that there is a middle path that can be pursued, which allowed GE to grow in a much more sustainable manner. We feel he could have paid more attention to employee well-being by being slightly more flexible in their performance evaluation and should have promoted diversity. Based on his actions, it seems Welch followed the “survival of the fittest” maxim ruthlessly, and in doing so caused disharmony and stress among its employees. Additionally, GE under Welch could have been slightly more environmentally...
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...CHAPTER 1 INTRODUCTION Chapter 1 emphasizes the internationalization of business and economic activity that has occurred since the end of World War II. Although international business activities have existed for centuries, primarily in the form of exporting and importing, it is only in the postwar period that multinational firms have become preeminent. The distinguishing characteristic of the MNC is its emphasis on global, rather than affiliate, performance. Specifically, MNCs ask, "Where in the world should we build our plants, sell our products, raise capital, and hire personnel?" Thus the true multinational is characterized more by attitude than the physical reality of an integrated system of marketing and production activities worldwide. It involves looking beyond the boundaries of the home country, and treating the world as "our oyster." Good examples include the globalization of GE's medical systems division and Arco Chemical. After stimulating student interest with this vision of the MNC, I then introduce the financial decisions that multinationals must make. I begin by discussing the key concepts and lessons from domestic finance that apply directly to international corporate finance. The lessons include the emphasis on cash flow rather than accounting earnings, the time value of money, the importance of taxes, and the unwillingness of investors to reward companies for activities (like corporate diversification) which investors could replicate for themselves at...
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...One subsystem, organizational culture, directly impacts and plays a vital role in regards to the functioning and well being of an organization. Organizational culture, as defined by Schein, is a: (…) pattern of shared basic assumptions that the group learned as it solved its problems of external adaptations and internal integrations that has worked well enough to be considered valid and, therefore to be taught to new members as the correct way to perceive, think, and feel in relation to those problems” (as cited in Guzman, Stam, & Stanton, 2008, p. 34). Therefore, IT managers must consider that organizational culture is an important factor to be taken into consideration within the value chain. As stated by Schein, culture is relevant and it matters because it is a powerful, latent, and often unconscious set of forces that determine both our individual and collective behavior, ways of perceiving, thought patterns, and values (Guzman et al., 2008). In order to take a look deep inside an organization’s social and technical dynamics, via value chain we turn our attention to “The Mini-cases: 5 companies, 5 strategies, 5 transformations”. This unique interaction case study was conducted by Balu Bagopal, Maurice Berns, Zayna Khajat, Martin Reeves and Andrew Townsend a MIT Sloan Management Review and knowledge partner. The Boston Consulting Group, with sponsorship support from business analytics provider SAS,...
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...Course Project Parts 1-3 ITT Technical Institute GE 273 Microeconomics How outsourcing affects the US economy and contributes to political stability in developing economies is a matter of great debate. Many people think this practice will have an overall positive effect on the US economy, since it saves money for companies, opens up opportunities for greater entrepreneurship in the US, and leads to more Americans holding higher level jobs. Jobs that companies outsource to save money besides medical and manufacturing include copy writing jobs for publishing companies, administrative jobs, and data entry jobs for insurance companies. Critics suggest hiring foreign workers has an immediate effect on the US economy by stripping many Americans of jobs they would have performed, particularly by semi-skilled or skilled laborers. Further, many argue that giving jobs to workers in less developed countries improves those countries economically and increases trade for US products. It also increases a country’s ability to pay back debts to the US, and may promote better political relationships. Companies economically benefit by selling their products in other countries. This means they can hire more people in the US, lower their prices on products for US consumers. Comparative advantage and efficiency takes place when countries, individuals, and firms have lower opportunity costs in the production of a good or service with comparison to that of their competitors. This creates more...
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...Negative Interest Rates Nominal interest rates are normally positive, but not always. Given the alternative of holding cash, and thus earning 0%, rather than lending it out, profit-seeking lenders will not lend below 0%, as that will guarantee a loss, and a bank offering a negative deposit rate will find few takers, as savers will instead hold cash. During the European sovereign-debt crisis, government bonds of some countries (Switzerland, Denmark, Germany, Finland, the Netherlands and Austria) have been sold at negative yields. Suggested explanations include desire for safety and protection against the Eurozone breaking up. More often, real interest rates can be negative, when nominal interest rates are below inflation. When this is done via government policy (for example, via reserve requirements), this is deemed financial repression, and was practiced by countries such as the United States and United Kingdom following World War II (1945) until the late 1970s or early 1980s (during and following the Post–World War II economic expansion). In the late 1970s, United States Treasury securities with negative real interest rates were deemed certificates of confiscation. Negative interest rates have been proposed in the past, notably in the late 19th century by Silvio Gesell. To prevent people from holding cash (and thus earning 0%), Gesell suggested issuing money for a limited duration, after which it must be exchanged for new bills; attempts to hold money thus result in...
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...Customers as Innovators: A New Way to Create Value by Stefan Thomke and Eric von Hippel Reprint r0204f April 2002 HBR Case Study The Cost Center That Paid Its Way Julia Kirby r0204a First Person If You Want Honesty, Break Some Rules Ginger L. Graham r0204b Big Picture Wealth Happens Mark Buchanan r0204c Maneuver Warfare: Can Modern Military Strategy Lead You to Victory? Eric K. Clemons and Jason A. Santamaria r0204d Executive Women and the Myth of Having It All Sylvia Ann Hewlett r0204e Customers as Innovators: A New Way to Create Value Stefan Thomke and Eric von Hippel r0204f Reawakening Your Passion for Work Richard Boyatzis, Annie McKee, and Daniel Goleman r0204g r0204h Best Practice Saving Your Rookie Managers from Themselves Carol A. Walker The Entrepreneur Out of the Blue and into the Black Frank Batten r0204j Innovators A New Way to Create Value R&D has long been a costly and inexact process. Now some companies are trying a radically new approach, giving customers the tools to design and develop their own products. Customers as by Stefan Thomke and Eric von Hippel “L isten carefully to what your customers want and then respond with new products that meet or exceed their needs.” That mantra has dominated many a business, and it has undoubtedly led to great products and has even shaped entire industries. But slavishly obeying that conventional wisdom can also threaten a company’s ability...
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...Implementing Transnational Strategy Name Course Instructor Date Introduction The global environment over the past decade has changed dramatically (Friedman, 2005), with increasing globalization ushering in an era of unprecedented competition, particularly for Western countries in light of the emerging Asian Giants. This has been further compounded by the 2008 financial crisis and the resulting economic crisis (Hill & Jones, 2010), which have led to diminished consumer spending and sluggish demand. These factors have forced most western companies explore new markets for their products, cut costs and source for cheap inputs for their value chains (Cheng, 2009). Companies competing on the international level face a lot of choices in terms of resource allocation, and balancing authority between head office and the business units. Many industries are now so competitive that firms must adopt a transnational strategy (Bartlett and Sumantra, 1991). This involves a simultaneous focus on Reducing costs, Transferring skills and Products, and Boosting Local responsiveness. Implementing such a strategy may not be easy. This essay will discuss how it is hard for a company to implement a transnational strategy to enter and compete in foreign market. Transnational Strategy: a tug of war In this competitive world, many industries are finding it hard to compete in a single market. This is due to increased competition from other established...
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...High-performance business Create value with technology Avoiding the austerity trap By Bob Suh In today's uncertain business climate, IT investment is often in the budgetary crosshairs. But in fact, now is the ideal time to upgrade existing infrastructure and invest in next-stage technologies that create value. Management decision making can be fairly straightforward when the economy is clearly headed in one direction or the other. When it is growing, business leaders invest to meet demand. When it is shrinking, they cut costs to meet quarterly earnings expectations. But what do executives do when the economy has bottomed out and growth is somewhere on the horizon but not yet robust? When the obvious cuts have been made and pricing power is a distant memory, how do companies continue delivering shareholder value while they wait for vigorous growth to kick in? What will it take to achieve high performance in these uncertain times? Outlook 2004, Number 1 55 And speaking of costs, what role does a capital-intensive function like information technology play in this quest for high performance? Many business leaders are understandably wary of IT investments. Although spending on information technology has increased substantially in the past 10 years, many technology projects have been characterized by sketchy metrics, long cycle times to new products and unpredictable results. No wonder many executives have come to regard IT investments as a necessary evil and information...
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...had been cooking the books for years to make up for revenue and profit shortfalls. Read the details in this report by my BW colleague, Manjeet Kripalani. In his letter, Raju wrote that the cover-up finally got the best of him: “It was like riding a tiger, not knowing how to get off without being eaten.” This admission will have a crippling impact on Satyam. Its chances of getting new business are nil. Don’t expect its current customers to abandon the company overnight. That’s not easy in a tech services business where the operations of the client and service provider are so interwoven. On the other hand, it’s possible that the company may collapse financially, in which case clients will have no choice but to flee. Which brings us to a bigger shock: This betrayal of trust could have a major impact on the entire Indian tech services industry. The industry has spent 20 years building up credibility with Western clients, but this disaster will make many US and European clients rethink their reliance on Indian outsourcing. Don’t expect offshore outsourcing to fall off a cliff, but there will be serious repercussions. There’s another impact that most people won’t be aware of. Raju, through his Byrraju Foundation, has been a leader in bringing economic development to farm communities in his home state of Andhra Pradesh, and also in providing emergency medical services to people of the state state. Will...
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...Introduction IT industry and Globalisation 2008 Financial crisis and Impact on Indian IT sector Response steps taken by Indian IT firms (HCL, Infosys and TCS) Conclusion Introduction IT industry belongs to the servicing industry in India since India has not grown completely as Indigenous product developers in IT domain. So the growth and performance of Indian IT industry is completely attributed towards the institutions and organisations to which the software solutions or servicing is exported. It is very tough to comprehend and list out the types of macroeconomic shocks that an IT industry would face. The main reason for this would be IT sector as a whole doesn’t provide its software solutions not just one sector. It provides software solutions to almost all of the sectors like Manufacturing, Retail, Insurance, Banking, and Media, Entertainment so much more and still has scope in so many unexplored domains. Since the onset of globalisation in the early 90s, large capital influx and the crises that could be attributed with it have become one of the known risks. Large flows of capital into another country has created currency crisis in most of the countries. The most predominant of these shocks was recorded was in the East Asian countries. India never fell prey to these shocks and was effectively insulated from these shocks, until it has opened up its markets for investment by foreign players. The globalization and reforms of 90s...
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...belonging solely to the parent firm. Examples: FedEx Logistics, UPS Logistics Financial Based – Provide freight payment and auditing, cost accounting and control, and tools for monitoring, booking, tracking, tracing, and managing inventory. – Examples: Cass Information Systems, CTC, GE Information Services, FleetBoston Types of 3PL Providers • Warehouse/Distribution Based – Many have former warehouse and/or distribution experience. – Examples: Exel, Caterpillar Logistics, IBM • Forwarder Based – Very independent middlemen with forwarder roles. – Non-asset owners that provide a wide range of logistics services. – Examples: AEI Types of 3PL Providers • Information Based – Significant growth and development in this category of Internet-based, business-to-business, electronic markets for transportation and logistics service Levels of Outsourcing • Transactional Outsourcing: Based on transactions, with no long term contracts and no bonding between the 3PL and the outsourcing company. • Tactical Outsourcing: Outsourcing on a long term basis with negotiated contacts and integrated IT systems to facilitate free information flow and create supply chain visibility. • Strategic Outsourcing: Based on long-term relationships with successful...
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...Strategic Management on Sapura Kencana Petroleum Berhad 1.0 INTRODUCTION A core competency by definition is a unique ability that a company acquires from its founders or develops that can make a significant contribution to perceived customer benefits of a product or services and it is difficult for a competitor to imitated. Core competencies are what give a company one or more competitive advantages, in creating and delivering value to its customers in its chosen field (Anonymous). According to Fred (2013), core competencies define as a value chain activity that firm performs especially well. When a core competence evolves into a major competitive advantage, it will turn into distinctive competence. Core competencies may include any combination of skills, technologies, processes, knowledge or expertise and are often achieved as a result of long-term development processes and/or experiences (Mayhew, 2010). Competitive advantage on the other hand is defined as a measure relative to rivals in a given industry. Competitive advantage happen when a firm can do something that rival firm cannot do, or owns something that rival firm desire (Fred, 2013). For example, Nestlé core competency is food and beverages that is full with nutrition, health and wellness. By defining own core competencies and SWOT (strength, weaknesses, opportunity and treats) the company will be able to focus on its organisation uniqueness. In this study, I will focus on the core competency for Company...
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...IMPACT OF CROWDSOURSCING ON DESIRE WEBSEARCH SYED FARAZ-UL-HASAN UNIVERSITY OF TASMANIA Email: farazulhassan@hotmail.com PHONE NO: 0468934400 ABSTRACT: This paper examines the impact of crowdsourcing on search result ranking by identifying the relation between crowdsourcing and web search. Here the question arise, what are the reasons that compel me to search this category i-e crowdsourcing and search result ranking. To me, it is very beneficial for us as student of computing to know about the relation of crowdsourcing with web technology. How much is impact-able if we add it as ingredient in our searching results for finding good webpages is understandable after reading this paper. Crowdsourcing is a term coined by Jeff Howe in wired magazine to characterize a way of using groups to solve the problem [1].The groups are usually online communities, such as member s of a blog or a visitor of website. An organization broadcast the problem to the crowd as an open call for solution. The crowd submit solution, and then sort through them, find the best one. The organization selects and owns the ultimate solution, and sometimes rewards members of the crowd. As this paper also explain the application aspect of crowdsourcing when it merge with web-technology. KEYWORDS: Crowdsourcing, WEB 2.0, Social networking. INTRODUCTION: The last two decades have seen dramatic revolution in information technology: not only in computer power, such as the processor speed,...
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