...General Electric Company Report Introduction General Electric is a massive conglomerate with power that extends through every sector of the economy. The company was formed in 1892 when the company of Thomas Edison, Edison General Electric Company, merged with the other successful manufacturer of electric light, Thomas-Houston Company. “From the invention of the first practical incandescent light bulb to building America’s first Central Power Station, the GE tradition of life-changing innovations was underway. With power and light, GE provided the basis of modern life, quickly redefining everything from the length of the day to our knowledge of the human body through the development of the first X-ray machine” (History) [citation should refer to GE]. This company is so expansive that every part of our lives involves a product or service by General Electric and this brings up a very vital question: what is the external environment and strategy of a company so large? How are they so successful at what they do? In our analysis, we have determined that if companies want to emulate General Electric's success, they must be willing to change their management approach in accordance to changes in the external business environment. General Electric's overall management of its company has changed several times, but most notably from the time Jack Welch was CEO to the time Jeff Immelt became CEO. The backbone of any company is their mission statement, as it is what keeps a company...
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...the world is turbulent, you appreciate great people.” – Jeff Immelt, GE Chairman and CEO Internal and External factors play a great part in the four functions of management. These factors can impact these four functions in many ways. The company that we chose to write about is General Electric known as GE. We will explain how internal and external factors affect the four function of management, which are; planning, organizing, leading, and controlling (Bateman & Snell,2009). We will also explain how these factors, along with delegation, affect globalization, technology, innovation, diversity, and ethics. General Electric was founded in 1892 by Thomas Edison, Charles Coffin, Edwin Houston, and Elihu Thomson. These four men had an idea of bringing “good things to light.” GE is an advanced technology, services, and finance company taking on the world's toughest challenges they are dedicated to innovation in energy, health, transportation, and infrastructure (GE, 2011). The major planning for General Electric is their Marketing Plan. GE's marketing function is about delivering superior business impact and results. We rigorously focus on customers; measure and assign accountability; attract, develop, and retain best-in-class talent, and methodically align our work against evolving business strategies (GE, 2011). One of the most important aspects of planning is forecasting what will be needed in that year. GE is leaning toward solar power. They are in the planning stages but this...
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...GE’s Two-Decade Transformation Case Analysis March 17, 2005 For: Anne Becker From: Scott Ashby 999004953 _ Phil Parkinson Judy Lee 04003094 Gianni Liburdi 049003649 Executive Summary This report’s objective is to provide analysis of the leadership challenge that General Electric (GE) is currently facing, and to recommend solutions. The primary problem is determining what kind of candidate is required to replace retiring CEO Jack Welch. This has left GE to question how much does the company want to change policy over the previous era, and where does the company want to be in future? Detailed examination of the impact Jack Welch has had as CEO over the past twenty years reveals a leadership style that is the driving force behind a successful transition from a corporate model that was highly centralized and bureaucratic to one that is dynamic, flexible, and many times more profitable. If GE wishes to sustain and build upon the progress of the Welch era, it would do well to nominate a new CEO from within the organization who is familiar with his brand of leadership, and who can continue to provide it for many years to come. 2 Table of Contents Executive Summary................................................................................................................... 2 Table of Contents ....................................................................................................................... 3 Statement of Problem ...............................
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...the world is turbulent, you appreciate great people.” – Jeff Immelt, GE Chairman and CEO Internal and External factors play a great part in the four functions of management. These factors can impact these four functions in many ways. The company that we chose to write about is General Electric known as GE. We will explain how internal and external factors affect the four function of management, which are; planning, organizing, leading, and controlling (Bateman & Snell,2009). We will also explain how these factors, along with delegation, affect globalization, technology, innovation, diversity, and ethics. General Electric was founded in 1892 by Thomas Edison, Charles Coffin, Edwin Houston, and Elihu Thomson. These four men had an idea of bringing “good things to light.” GE is an advanced technology, services, and finance company taking on the world's toughest challenges they are dedicated to innovation in energy, health, transportation, and infrastructure (GE, 2011). The major planning for General Electric is their Marketing Plan. GE's marketing function is about delivering superior business impact and results. We rigorously focus on customers; measure and assign accountability; attract, develop, and retain best-in-class talent, and methodically align our work against evolving business strategies (GE, 2011). One of the most important aspects of planning is forecasting what will be needed in that year. GE is leaning toward solar power. They are in the planning stages but this...
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...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? How well is he implementing his strategy? What are his greatest achievements? What is most worrying to you? 10. Beyond this case: We have the benefit of being 4 years beyond this case. What has happened to GE in that timeframe? How has it changed its strategy? It is currently having trouble with GE Capital and outstanding loans and is divesting itself of NBC to Comcast. What do these...
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...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. (Morning Star, 26) The dividend yield is currently $.68 worth...
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...| GENERAL ELECTRIC (GE) | | | To review the company, General Electric (GE) supply chain and its components. Show how expansion within a company can be profitable over time. | General Electric also known as GE has been around for many years. GE is a global company that provides a variety of products in the United States and abroad. The company started in 1900 in a barn and they have been much more advanced as the years have progressed (Heritage of research, 2012). GE has more than 3000 employees working in research facilities throughout the United States, India, China, and Germany (Heritage of research, 2012). Through the years, the company has won several Nobel prizes and other awards for the remarkable research they have performed over the years and they are not completed yet (Heritage of research, 2012). GE has many subsidiary companies and therefore has broaden their initial company from just electrical and appliance to healthcare equipment and even aircraft technology (Product & services, 2012). The six elements of the supply chain strategy are leverage, communications, efficiency, innovation, risk management, and continuous improvement (The 6 Elements of Supply Chain Strategy, 2012). When viewing a section of GE under GE Healthcare, they handle supply chain a little differently. They look more into working with the community because GE’s goal overall it to make money but do it the proper way and make a difference in the work that...
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...great way to capitalized abroad. Also international revenues grow faster than domestic revenue. 2. What is General Electric trying to achieve by moving some of the headquarters of its global businesses to foreign locations? How might such moves benefit the company? Do these moves benefit the United States? 3. What is the goal behind trying to “internationalize” the senior management General Electric ranks General Electric? What do you think it means to “Internationalize” these ranks? 4. What does the General Electric example tell you about the nature of true global business? Company name/corporate headquarters location Company size (number of employees) Description of products/services Description of manufacturing operations - how and where the products/services are produced Description of marketing activities Where the company advertises and promotes its products/services The type of marketing the company emphasizes (newspaper, TV, magazine advertising, etc.) Identify where the company's corporate headquarters are located and how many people the company employs. History of the company (When was the company founded and by whom?) What are the major events in its history and when did they occur (major events pertain to key developments in the company's growth, major acquisitions/mergers, important crises, significant company changes) The first electric fans were early as the 1890s, heating and cooking devices were developed in 1907. GE Aircraft...
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...the previous two decades seemed justified judging by the many accolades GE was receiving. For the third consecutive year, it had not only been named Fortune's "Most Admired Company in the United States," but also Financial Times' "Most Admired Company in the World." And, on the eve of his retirement, Fortune had named Welch "Manager of the Century" in recognition of his personal contribution to GE's outstanding 20 year record. Yet while the mood at GE's 2001 annual meeting had clearly been upbeat, some shareholders wondered whether anyone could sustain the blistering pace of change and growth characteristic of the Welch era. And specifically, many worried if any successor could generate the 23% per annum total shareholder return Welch had delivered in his two decades leading GE. It would be a tough act to follow. (See Exhibit 1 for financial summary of Welch’s era at GE.) The GE Heritage Founded in 1878 by Thomas Edison, General Electric grew from its early focus on the generation, distribution, and use of electric power to become, a hundred years later, one of the world’s leading diversified industrial companies. A century later, in addition to its core businesses in power generation, household appliances, and lighting, the company was also engaged in businesses as diverse as aircraft engines, medical systems, and diesel locomotives. Long regarded as a bellwether of American management practices, GE was constantly undergoing change. In the 1930s, it was a model of the era’s...
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...A REPORT ON THE INTERNATIONAL MARKETING STRATEGIES USED BY GE COMPANY By barbradozier TABLE OF CONTENTS ABSTRACT……………………………………………………………………..……ii EXECUTIVE SUMMARY…………………………………………………………..iv INTRODUCTION……………………………………………………… ………….1 REPORT PROCEDURE…………………………………………………………..…1 THE 4 P’S……………………………………………………………………………2 PRODUCT……………………………………………… …….……2 PRICE………………………………………………………………..2 PLACE…………………………………………………………….…2 PROMOTION…………………………………………………….….2 SWOT ANALYSIS………………………………………………………………….3 STRENGTHS………………………………………………………..3 WEAKNESSES……………………………………………………..3 OPPORTUNITIES…………………………………………………..4 THREATS……………………………………………………………5 INTERNATIONAL MARKETING STRATEGIES BEING USED…………… …5 WAYS THAT CAN IMPROVE INTERNATIONAL STRATEGY………………..9 IMPORTANCE OF INTERNATIONAL MARKETING………………………….10 WAYS OF IMPROVING THE STRATEGIES……………………………………10 RECOMMENDATIONS……………………………………………………………11 CONCLUSION……………………………………………………………………..11 BIBILIOGRAPHY…………………………………………………………………13 EXECUTIVE SUMMARY This report examines the international marketing strategies used by General Electric Company in its quest to tap the international market. The purpose of the report is to provide the company with the information necessary to amend and improve on their marketing strategy. Over the years GER has highly diversified its operations and is now operating 11 major lines of businesses which include transportation, consumer finance, commercial finance, insurance and energy. It is also involved in healthcare,...
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...thats happened is making it even more challenging. GE uses management science theory to manage and organize its company. The company uses the classical perspective to train its employees into becoming leaders, its uses behavioral management perspective by providing its employees a place where they can go and develop their skills. It has kept up with the contingency perspective by creating new leaders, that are able to advance as globalization changes. GE has used management science theory more than quantitative approaches to provide their customers the products and satisfaction they want. The company choices its employees based on how passionate and innovative the person can be, and it also helps its employees gain more knowledge and skills. GE has developed the Crotonville campus in New York, to help its employees and anyone willing to learn, bring out the best potential in their work, GE spends millions of dollars to provide that to people from all around the globe, which shows how much they care about what kind of people should be leading. GE has some of the most passionate and innovative people in this world, that is why GE has managed to stay as one of the top company's in the United States. The pattern of management developments at GE over the last century does reflect the pattern suggested by management theory. Management theory is a group of ideas which set general rules in how to organize and manage a business. GE supported the management theory because it uses the...
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...2012 Case Study Analysis: GE’s Talent Machine General Electric (GE) has been well known and valued for embracing quantifying talent as well as rising talent when it comes to leadership. This organization makes sure that this is a key factor when it comes to their business planning. GE requires learning sessions all year long, which entails outside organizations along with GE leaders to allocate amongst one another the best ideas out there for staff enhancement opportunities. Staff receives support in attending such training programs, spending at least 1billion dollars a year. Such cost is seen as an investment from GE on their staff as it is seen development of skills and qualities essential to growing into a good successful leader which ultimately benefits GE. GE has been polishing a succession planning processes at a level unmatched by any other organization to keep performance levels far above the ground. We all have known about GE’s infamous yearly, “‘Session C’ leadership and organizational talent reviews, which are designed to identify individuals suited for bigger roles or individuals who can be groomed to take on higher positions. The annual intensive review has enabled GE to announce successors the same day leave notifications are delivered. Constantly reviewing the talent pool on a variety of layers enables GE to always have an eye on future leadership potential. What makes GE stand out from other agencies is that the company as a whole has the...
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...GE’s Two-Decade Transformation Case Analysis March 17, 2005 For: Anne Becker From: Scott Ashby 999004953 Phil Parkinson _ Judy Lee 04003094 Gianni Liburdi 049003649 Executive Summary This report’s objective is to provide analysis of the leadership challenge that General Electric (GE) is currently facing, and to recommend solutions. The primary problem is determining what kind of candidate is required to replace retiring CEO Jack Welch. This has left GE to question how much does the company want to change policy over the previous era, and where does the company want to be in future? Detailed examination of the impact Jack Welch has had as CEO over the past twenty years reveals a leadership style that is the driving force behind a successful transition from a corporate model that was highly centralized and bureaucratic to one that is dynamic, flexible, and many times more profitable. If GE wishes to sustain and build upon the progress of the Welch era, it would do well to nominate a new CEO from within the organization who is familiar with his brand of leadership, and who can continue to provide it for many years to come. 2 Table of Contents Executive Summary................................................................................................................... 2 Table of Contents ....................................................................................................................... 3 Statement of Problem ...........
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...GE’s Two-Decade Transformation Case Analysis March 17, 2005 For: Anne Becker From: Scott Ashby 999004953 _ Phil Parkinson Judy Lee 04003094 Gianni Liburdi 049003649 Executive Summary This report’s objective is to provide analysis of the leadership challenge that General Electric (GE) is currently facing, and to recommend solutions. The primary problem is determining what kind of candidate is required to replace retiring CEO Jack Welch. This has left GE to question how much does the company want to change policy over the previous era, and where does the company want to be in future? Detailed examination of the impact Jack Welch has had as CEO over the past twenty years reveals a leadership style that is the driving force behind a successful transition from a corporate model that was highly centralized and bureaucratic to one that is dynamic, flexible, and many times more profitable. If GE wishes to sustain and build upon the progress of the Welch era, it would do well to nominate a new CEO from within the organization who is familiar with his brand of leadership, and who can continue to provide it for many years to come. 2 Table of Contents Executive Summary................................................................................................................... 2 Table of Contents ....................................................................................................................... 3 Statement of Problem ...............................
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...Management Principles and Practices MGT101 Case Study – GE Electric Motivation Gemma Blandford Word count 1315 (excluding references) Introduction General Electric (GE) was founded in 1878 by Thomas Edison. Since then GE have developed businesses in the areas of Appliances, Aviation, Consumer Electronics, Electrical Distribution, Health Care, Lighting, Oil and Gas, Energy, Finance for both Business and Consumers, Rail, Software Services and Water. They are now one of the most diversified companies in the world. Findings In 1960 Jack Welch joined General Electrics in the plastics division in Pittsfield, Massachusetts, USA, where he developed his leadership skills and ideas. In 1968 Jack Welch was made the company’s General Manager; for GE in 1981 he was elected Chief Executive Officer. His vision was to become one of the most competitive business enterprises in the world. Shortly after Jack was elected he identified the organisation was bureaucratic - the environment was controlling, upper management made the rules and the juniors followed. The lower level in the hierarchy is controlled by the upper ones, and the planning and decision making is done in one place. The higher levels in the hierarchy have more freedom in doing their work as compared to the lower levels. In this case GE was represented by 9 layers of management from the shop floor to the CEO. Unfortunately in a bureaucratic environment people are afraid to speak out; employees find it difficult...
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