...INTRODUCTION GE Healthcare provides transformational medical technologies and services that are shaping a new age of patient care. Our broad expertise across the cardiology care area helps our customers to deliver better care to more people around the world at a lower cost. In addition, we partner with health care leaders, striving to leverage the global policy change necessary to implement a successful shift to sustainable health care systems. The “healthymagination” vision for the future invites the world to join us on our global journey as we continuously develop innovations focused on reducing costs, increasing access and improving quality and efficiency. Headquartered in the United Kingdom, GE Healthcare is a $17 billion unit of General Electric Company (NYSE: GE). Worldwide, GE Healthcare employs more than 46,000 people committed to serving health care professionals and their patients in more than 100 countries. GE Healthcare’s comprehensive product portfolio provides solutions for all care areas in the field of diagnostic cardiology and patient monitoring. As one of those 46,000 employees, my engineering position engages customers in brining local hospital information systems in communication with GE Healthcare cardiology products through IT infrastructure and HL7 (Health Level Seven) programming language. Organizationally, my contribution serves within the America’s Service organization, with an immediate manager, dotted lines to project managers, and other engineering...
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...different cycles of learning: a) In the first cycle (from early 1980s to late 1980s) he focused GE on the elimination of variety in its portfolio of businesses by reducing the nonperforming businesses. He launched the “#1 or #2” approach. The central idea that guided GE’s business decisions was that those business areas that intended to compete in global markets must either be or become number-one or number-two in their market places. Those businesses that had no chance of attaining this goal were to be fixed, either sold or closed. During this stage almost 200 businesses were sold off and more than 370 acquisitions were achieved. The rationale behind managing the portfolio of businesses was to ensure that GE would make the best use of its capital for appropriate investments. To strengthen this measure, Welch eliminated the sector level, ensuring that all businesses reported directly to him, situation that would create more pressure and control on the businesses’ CEO to deliver results. b) In the second cycle (from late 1980s to mid-1990s), once GE had focused itself on targeted business areas, Welch focused the company on simplifying and eliminating non-value-added activities through creative efforts of teams using Work-Outs. This tool was used to assure quick decision-making based on the consideration and analysis of the ideas of all involved people from all levels. GE designed Work-Out based on the behavioral premise that those people who are closest to the work know...
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...CFOs role in the diffusion of management control systems 29 May 2015 CFOs role in the diffusion of management control systems Abstract Purpose – this paper aims to review the literature on CFOs and their role in diffusing management control systems. Design/methodology/approach – this paper identifies 41 studies from leading academic journals and evaluates 7 of these studies, which deal with CFOs role in diffusing management control systems. The author analyze both research design and actual findings in the field. Findings – The analysis finds that even though characteristics such as education and tenure is shown to have an effect on the innovation of management control systems, there are also contradictions on which characteristics have a significant effect which opens for further research on the subject. Originality/value – the author synthesize the findings and derive a future research agenda. Keywords – CFO, management control systems, upper echelons, literature review Paper type – literature review 1. Motivation Recent papers (Burkert and Lueg, 2013; Hiebl, 2014) suggests that CFOs have become more powerful in recent years and that they are responsible for the diffusion of management control systems across organizations. To examine the role of the CFO in diffusing management control systems, I review literature with a focus on upper echelon characteristics of CFOs and management control systems, which will allow me to clarify the influence CFO characteristics...
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...History I* HIS106 World History II* MAT108 Finite Math MAT181 Applied Calculus I ________ General Education elective ISM142 Business Computer Systems* BSN101 Foundations of Bus Admin (2 crs.)* ________ General Education elective or a General Education elective* or ECO113 Principles of Economics (4 crs.) SECOND YEAR Fall Semester (16 or 15 credits) Spring Semester (15 credits) ACC200 Fundamentals of Financial Accounting ACC201 Managerial Accounting SCM200 Statistical Applications in Business* BSL261 American Legal Environment* ECO113 Principles of Economics (4 crs) ECO280 Managerial Economics or a General Education elective ________ General Education elective ________ General Education elective ________ General Education elective ________ General Education elective THIRD YEAR Fall Semester (15 credits) Spring Semester (15 credits) FIN311 Financial Management FIN313 Advanced Financial Management (SP) MKT305 Principles of Marketing FIN333 Applied Comp. & Security Analysis (SP) MGT305 Organizational Behavior SCM330 Supply Chain & Operations Management ________ General Education elective ________ Free elective ________ General Education elective ________ General Education or Free elective FOURTH YEAR Fall Semester (15 credits) Spring Semester (15 credits) FIN312 Investments (F) MGT497 Strategic Management FIN314 Financial Institutions (F) Finance elective MGT447 – Business & Society ...
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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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...business manager for GE Canada, Raj Bhatt needs to figure out how to maximize the potential from the Canadian energy-efficiency opportunities. Energy-Efficiency, attractive industry and business opportunity? Yes, the energy-efficiency is a very attractive industry and business opportunity. As the growing interests from Canadian public and government, the size of the potential market has increased substantially to billions of dollars. Further, the technology and industry expertise have developed to more sophisticate stage as the market has grown to maturity with fewer competitors left. Therefore, the risk and prediction of overall business have decreased significantly. In addition, GE has the advantages of being an all-inclusive powerhouse for this project, since GE does not only have technical advantages in lighting and motors but also has its own financing department which could support the project’s financial needs. More importantly, GE is a well-known global brand with respected reputation in the industry. Lastly, GE does not face the similar level of competition in the energy-efficiency industry, as there are only 7 full-services ESCos that can cover all three businesses needs. Even those ESCos are often facing problems like accessing the capital, or creditability issues etc. GE management system, GE Canada, implications for the energy management business? The organizational structure of GE is a “direct connect” structure, which consists 6 core businesses (GE Commercial Finance...
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...Strategic Management Process Paper Strategic management refers to a set of managerial decisions and actions that determines the long-run performance of a corporation (Wheelen & Hunger, 2008, p. 3). It includes environmental scanning, strategy formulation, strategy implementation, and evaluation and control. The content of this paper will describe the components of a strategic 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...
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......................................................... 9 V Discussion............................................................................................................. 10 VI Bibliography .......................................................................................................... 13 1|Page POLYTECHNIC UNIVERSITY OF PUERTO RICO GRADUATE SCHOOL GRADUATE PROGRAMS IN MANAGEMENT MEM 6110 – ENGINEERING MANAGEMENT I WINTER 2010 TRIMESTER Final Project Instructions & Guideline I. Instructions for Final Project: 1. Conduct a literature research including but not limited to text books and journals on the following topic: i. Conduct a critical analysis of the following company (REFER TO THE PROJECT LIST “ON NEXT PAGE” FOR YOUR SPECIFIC TOPIC). The critical analysis should be from the managerial standpoint describing the company origins, operations and their correct or incorrect application of the management functions: Planning and Organizing. You can perform your initial search in Fortune 500 and start from that point your research. 2. The project must contain but is not limited to the following sections: i. Introduction ii. Definition of key topics. iii. Current Applications/Examples. iv. Discussion. v. Bibliography II. III. IV. V. The project should not have more than 20 pages....
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...the paper reveals how outsourcing has led GE to be a cost efficient, productive and profitable company. The findings outlined factors such as the success of GE Real Estate in Mexico. It also outlined GE’s successful steps in India in order to source products, services, and intellectual talent from India for its global businesses. The next section of the paper discusses GE’s decision to have multiple outsourcing partnerships. It discusses the strategies of successful multiple outsourcing and consolidated it with GE’s steps of outsourcing its businesses in different countries. In the last section the report elaborates different impact will outsourcing have on US economy. It contrasted the brighter side of outsourcing such as $100 worth of work sent abroad by U.S. companies; $130 to $145 will be reinvested in the U.S. economy. It also reveals the downside as it discusses how sending jobs abroad can affect American job market. 1.0 Introduction 1.1 Background General Electric is a diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and industrial products, the company serve customers in more than 100 countries and employ more than 327,000 people worldwide (General Electric Company, 2008). GE is made up of four businesses, each of which...
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...CONTENT Abstract 2 Introduction 2 Mechanistic Role Formalization & Functional Specialization Increases Performance 3 Excess control often stifles innovation. 4 Employee motivation: The crisis of bureaucratic control 5 Summary 8 Reference 10 Abstract In this paper I will critically evaluate the statement “Organizations seek to control” from both mechanistic and culture perspective, using my own placement experience in Great Eastern Life Assurance (Singapore) as an example to examine the extent of compatibility and conflict between these two perspectives in the sense of control. Introduction Control is a set of activities to determine an actual state of affairs, compare it to appropriate models, and then formulate conclusions which should contribute to assure efficient and effective functioning of an organization. A mechanistic view of organizations assumes that organizations operate in a consistent machine-like manner. Control in mechanisms perspective, primarily aimed at detecting irregularities. A culture view of organizations treats organizations as mini societies which have a system of strongly-held shared value among members. Control by corporate culture views people as emotional, symbol-loving, and needing to...
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...a new machine or upgrade the old one? One of the managerial decisions that our local hospital had to make was whether to transition into a digital format with our portable x-ray machines by performing transformation upgrades to both existing analog units or to trade them in and use their value to offset the total price incurred by the purchase of new units. This paper will discuss several factors that may affect the decision making process, along with a preliminary analysis of the problem through the use of marginal analysis. Executive Summary The decision to purchase a new system or to upgrade the existing x-ray machine, the hospital administration must consider the lowest cost for the hospital. By minimizing the cost for the x-ray machine the hospital will lower cost for the patients and the community that it serves. Current system The current x-ray machine flat value would be $12,000 each. Each day the hospital uses the current machines to make 8.5 x-rays per day. The average revenue for each x-ray is $65.00. The hospital calculates the revenue of the machines by multiplying the number of x-rays by the revenue ($65.00 x 8.5 = $553 per day). Looking at the total revenue for the year, $553 per day x 365, the hospital sees revenue of $201845 per year. Cost consideration #1 The administration first looked at the cost of upgrading the existing x-ray machines. The cost to upgrade (2) GE AMX 4 Plus Portable X-ray Units is $88,000 each....
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...available at www.emeraldinsight.com/0262-1711.htm Integrating leadership development and succession planning best practices Kevin S. Groves College of Business and Economics, California State University, Los Angeles, California, USA Abstract Purpose – Organizations often fail to utilize managerial personnel effectively for leadership development and succession planning systems, and many execute these critical practices through separate human resource functions that shift the responsibility for leadership development away from line managers. The purpose of this article is to present a best practices model for optimal development of the leadership pipeline and a series of practical recommendations for organizations. Design/methodology/approach – A group of 30 CEOs and human resource executives across 15 best practice organizations were asked via semi-structured interviews to describe the content and delivery of their respective organizations’ leadership development and succession planning practices. Findings – Analysis of interview data indicated that best practice organizations effectively integrate leadership development and succession planning systems by fully utilizing managerial personnel in developing the organization’s mentor network, identifying and codifying high potential employees, developing high potentials via project-based learning experiences and manager-facilitated workshops, establishing a flexible and fluid succession planning process, creating organization-wide...
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...SWOT Analysis Strength Weakeness •Promoted its top leaders from its own rank •Meritocracy-based practices •Emphasis on education (on/off-the-job training) at all levels •Decentralization of authority and responsibility •Ease of switching division/business, location •Good mentoring programs •Can attract good talent because of good brand name •Vitality Curve forced performance classification, which may not always give the true picture •Depandency on talent from America •Strongly performance-driven appraisal system •Strong sacking policy for under performers •Less weightage given to experience and position for appraisal and promotion •In more hierarchial business cultures, like India, it is difficult to attract & retian managers Opportunity Threat •Aggressive international approach for recruiting •Better candidates could be hired for top positions if GE were open to hiring from external sources (just not focus on internal progression) •Have more external talent acquisition engagements to attract industry experts rather than shifting people from within to leadership roles from different verticals. •Initially, post MBA the top talent preferred to go to Wall Street •People with ambition to become chairman/CEO in their early days, left the organisation •Strict people management system with low flexibility •Competitors opffering leadershiop positions to GE "Highly Valued 70%" employees Q2: a) What kind of people have helped GE to...
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...SME 710 – Service Strategy and Design Case Study 1: GE’s Growth Strategy – The Immelt Initiative Name: Ping Lei Student ID: 10320346 Please prepare an analysis of this case. Your write-up should be 4 to 7 pages. Questions that should be addressed are: 1. How difficult was the task facing Immelt assuming the CEO role in 2001? What imperatives where there to change? What incentives to maintain the past? 2. What do you think of the broad objectives Immelt has set for GE? Can a giant global Conglomerate hope to outperform the overall market growth? Can size and diversity be made an asset rather than a liability? 3. What is your evaluation of the growth strategy (a strategy for a giant global conglomerate with a portfolio of mature industrial businesses) Immelt has articulated? Is he betting on the right things to drive growth? 4. How does this case illustrate how strategic intent needs to be matched by both organizational capability and managerial competence; and show how such assets were developed? 5. Examine how broad strategic objectives can be translated into a program of implement able actions. 6. Demonstrate how Immelt’s strategy went beyond optimization to innovation. 7. Show how this new strategy focused on customers. 8. Analyzes how this new strategy emphased services. Was enough done to balance the portfolio of products and services? 9. After 4 ½ years, did Immelt succeed in his objectives...
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...Corporate Strategy Analysis: General Electric Co. (1981–present) Stanislav Bucifal Australian National University July 2009 Corporate Strategy Analysis: General Electric Co. (1981–present) Stanislav Bucifal Introduction The General Electric Company (GE) is widely regarded as one of the world’s most successful corporations of the 20th century. This paper aims to critically analyse the corporate strategy of GE during the period from 1981 to present under the leadership of two very different but equally influential CEOs—Jack Welch and Jeff Immelt. The essay is organised in four sections. The first section describes GE’s corporate strategy from 1981 to 2001 with Jack Welch as CEO, followed immediately by a critical analysis of Welch’s strategic approach in the second section. The third section then describes GE’s corporate strategy from 2001 to present with Jeff Immelt as CEO, followed again by a critical analysis of Immelt’s strategic approach in section four. 1. The Jack Welch period (1981–2001) When Jack Welch took up his post as GE’s CEO in 1981 he embarked on a radical transformation of GE’s strategy, ushering in a new era of performance management and internal efficiency. Welch’s profit guidance aimed for earnings growth of 1.5 times to double of the GDP growth rate and his management philosophy found its articulation in GE’s slogan—Speed, Simplicity, Self-Confidence (GE 1995). These values would reflect not only in the organisation’s systems and processes...
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