General Electric
Jack Watson
In 1878 Thomas Edison founded the Edison Electric Light Company which through mergers and acquisitions became General Electric (GE). The 19th and 20th centuries watched Edison's company grow into a massive multi-national company with branches reaching into a vast number of businesses. In the years since its formation GE has become a global leader in a number of fields beyond the power generation functions that Edison had pioneered. Industries as varied as aircraft engines and financial services have both become staples of income for the multi-faceted organization. With all of the success that GE has enjoyed it appears that the company is destined for a bright future and yet, there are significant issues that must be understood and managed for GE to be a bright star throughout the next two centuries.
GE's Industry
Attempting to place GE into a specific industry category is a difficult proposition that will most likely…...
mlaReferences
General Electric Co. (2005) Retrieved February 8, 2005, from Yahoo! Finance Web site:
http://finance.yahoo.com/q/pr?s=GE
Kotler, Philip (1994). Marketing Management: Analysis, Planning, Implementation, and Control. Englewood Cliffs, NJ: Prentice-Hall, Inc.
Pearce, II, John A. And Robinson, Jr., Richard B. (1994). Strategic Management: Formulation,
General Electric
Constant transformation has turn out to be a way of life for corporations and their employees in today's fast-paced, competitive business world. All through the preceding few years, numerous companies have experienced noteworthy transformations such as getting rid of layers of administration, reorganizing procedures, authorizing numerous employees and downsizing others, shaping independent work teams, etc. In times like these, corporations clearly need effectual leadership at all levels, but particularly so at the top of the organization.
Even though a lot of the demanding business transformation occurring today might appear new to most employees, a bright case in point of the general concept of endlessly changing a corporation for the better is the General Electric Corporation (GE), which experienced a long reformation procedure starting in the early 1980s under the management of their Chief Executive Officer (CEO), John F. Welch. The major leadership principles explained by Welch all through these transformations…...
mlaBibliography
Slater, Robert. (1994). Get Better or Get Beaten: 31 Leadership Secrets from GE's Jack Welsh. New York: Irwin.
Tichy, Noel M. (1993). Revolutionize Your Company: A Key Consultant to General Electric Tells How CEO Jack Welsh Dramatically Changed GE's Approach to Business -- And How Your Company Can Too. Fortune 13 Dec.114-118.
Tichy, Noel M., and Stratford Sherman. (1994). Control Your Destiny or Someone Else Will: Lessons in Mastering Change -- the Principles Jack Welsh is Using to Revolutionize General Electric. New York: Harper Business.
Crosby, Philip. (1997). The Absolutes of Leadership. San Francisco: Jossey-Bass.
General Electric
Short-term and Long-term Objectives
GE is one of the biggest and most varied industrial companies in the world. GE is concerned in progressing, manufacturing, as well as marketing a wide array of products for the generation, broadcast, control, distribution, and utilization of electricity since its amalgamation in 1892. Over the years, GE has progressed or obtained new technologies and services that have broadened significantly the scope of its activities (Ashkenas, DeMonaco and Francis, 1998).
In the next calendar year, GE is dedicated to aim in the "next generation" of technology. They are favorably positioned to steer growth for the future by means of its technological superiority in each business by developing a global technological ability, ever-increasing new product growth, as well as spending in global research (Matthew, 2002).
However, GE's services sector has progressed from the customary measures of component substitution, repairing and renovating machines to a bigger and wider objective. The…...
mlaBibliography
Ashkenas, R.N., L.J. DeMonaco, and S.C. Francis. (1998). Making the deal real: How GE capital integrates acquisitions. Harvard Business Review (January): 165-178.
Matthew S. Scott. (2002). The gateway to wealth: new B.E.-GE initiative seeks to close the home ownership gap. Black Enterprise, Vol. 32.
Walter G. Blacconiere and Patrick E. Hopkins. (2002). General Electric: investment accounting and consolidations. Issues in Accounting Education, Vol. 17.
Ellen A. Brown. (2002). Getting ready for the electrical age: Virginia Tech, General Electric, President McBryde, and the scientists in the 1890s. International Social Science Review.
General Electric Company (GE) is a multinational company that operates in more than 116 countries in North America, Europe, and Asia. The company specializes in the production of diversified industrial products, and is organized along 11 businesses such as Energy, Transportation, Infrastructure, Commercial and Consumer Finance, Equipment Service, etc. Over the years, GE has recorded financial success. In 2011, Fortune ranks General Electric as the 7th largest company globally, 13th most admired company, and 14th most profitable company. The company key competence lies in its great proven leaders who combine the company resources to achieve financial success.
The objective of this report is to present a competitive environment analysis of General Electric. The paper uses SWOT model, PESTEL model and five Porter forces to provide analysis of GE.
SWOT Analysis of General Electric
SWOT model refers to Strength, Weakness, Opportunity and Threat. SWOT model is a tool that analysts use to evaluate the…...
mlaReferences
Bordean, O.N. Borza, A.I. Nistor, R.L. et al. (2010). The Use of Michael Porter's Generic Strategies in the Romanian Hotel Industry. International Journal of Trade, Economics and Finance, 1(2): 173-178.
GE Annual Report (2010). General Electric. USA
Oxford University Press (2010). PESTEL analysis of the macro-environment.UK.
Oxford University Press (2010). Developing a strategy: SWOT analysis. UK
General Electric Company case -- There are five central themes that were identified that would support GE in order to persevere and establish a long-term franchise. These themes included: to build strong businesses; put investment in services, innovation, and globalization; to focus on areas of potential opportunity; to drive competitiveness through cutting costs; and be remaining committed to people.
There are three key issues associated with concerns regarding GE's strategies for future stability and growth of the company. The first issue involved financial uncertainty due to the risk presented by shrinking GE capital. There were questions regarding how cohesive the company was in regards to the relationship between the industrial and financial aspects of the company especially following the company's loss of their triple -- A credit rating.
A second issue of concern regarded the growth strategies under development by GE. Specifically, some critics showed concern as to whether the suggested organic…...
General Electric and Philips health care have persistently provided forward thinking technology that have paved the way to a safe and high quality of care to patients. They possess solid foundation and have become experts in the field of health care technology such as medical imaging, information technology, and patient monitoring systems. Both organizations focus on sustainability of health care systems and quality delivery of care to patients. In addition, both organizations strive to be the best within the industry in ensuring the delivery high quality health care to patients. In this paper, we investigate how both companies have survived over the past 10 years with the health care changes and a struggling global economy. Also investigated is how both companies have managed to sustain their quality, innovation, and safety while containing costs to health care partners so that a high quality of health care can be delivered to each…...
mlaReferences
Blank, R, (July 2012). Transformation of the U.S. Healthcare System: Why is change so difficult? Sociology, 60(4), 415-426. doi: 10.1177/0011392112438327
General Electric (2012b). Qualibria Quality Management Solution. http://www3.gehealthcare.com/en/Products/Categories/Healthcare_IT/Clinical_Knowledge_Solutions/Qualibria
General Electric (2012c).Quality Control Workshop In Mammography.
This would entail paying European fines for not having sustainable components in their products. Instead of just moving ahead with production and paying the charges to local and federated European Union environmental authorities, GE completely redesigned the value chain and production processes of medical products (Mitra, 2010). This became the catalyst of sustainable business development and was a key factor in the 2004 timeframe when Jeffrey Immelt began the planning of the ecoimaginaition branding initiative. This is just one of many examples corporate-wide where GE was able to capitalize on initially what appeared to be a weaknesses from a sustainability standpoint and turn it into a strength.
Conclusion
Since the initial concept of translating their cost challenges of attaining sustainability into a profitable new business, GE has also started a $200M venture capital fund to invest in emerging new businesses in these areas. To date they have generated over 4,000 new…...
mlaReferences
Immelt: Ecomagination will help tackle global environment challenge, drive GE growth. (2005, Jun 30). Al Bawaba, pp. 1-1. Link: http://www.albawaba.com/news/ge-drives-global-ecomagination-initiative-middle-east
Guerrera, F. (2007, May 24). GE doubles eco-friendly product sales. Financial Times, pp. 28-28. Link: http://www.ft.com/cms/s/0/a5a0403c-0992-11dc-a349-000b5df10621.html#axzz1kho9EOz1
Mitra, M. (2010, Nov 25). Gen-next marketing: Ecoimagination runs as virtual business across GE [brand equity]. The Economic Times (Online), pp. n/a.
General Electric: Analysis of Strategy Implementations and Potential Issues
There are many parts of GE's strategic plan that are interlocked, and thus face some of the same implementation issues. For example, GE's strategy of diversification is essentially interlocked with its objectives of expansion. Through diversification, GE can continue a growth strategy that includes both operational and geographic expansion. As such, the strategic plan to diversify and expand is interlocking dependencies. However, there are a number of implementation issues which could prove a problem for the company in the future in terms of its objectives to diversify and expand. The company is what is known as an "unrelated diversified company" (Allen & Gorgeon, 2007, p 7). GE has been successful in diversifying its operations into new markets; yet, this can be seen as almost being too successful. According to the research, "looking at GE we see a massive, diversified, and profitable conglomerate…...
mlaReferences
Allen, David & Gorgeon, Amuad. (2007). Diversification strategy. IE Business School. Retrieved September 1, 2012 from http://openmultimedia.ie.edu/OpenProducts/diversificacion_i/diversificacion_i/Curso.pdf
Baron, Zackary D. (2011). General Electric: A deep analysis of company strategy. Wall St. Cheat Sheet. Retrieved August 31, 2012 from http://wallstcheatsheet.com/stocks/general-electric-a-deep-analysis-of-company-strategy.html/
Robbins, Kym. (2012). GE extends strategic relationship with Australian-based Nanosonics to expand healthcare innovation globally. Business Wire. Retrieved September 1, 2012.
General Electric in India
ecent economic figures point to the tremendous growth of India as the world's popular investment hub. Foreign direct investments (FDIs) in the country have depicted a surge as investors seek opportunities in the second populous nation in the world (Mishra & Shaopeng, 2013). The country occurs as a close competitor to China, as the preferred investment hub globally. Since independence, India upholds democracy in rule and governance. In the 1970s, India occurred as a preferred hub for multinationals such as IBM. The nation is popular for providing a favorable environment for multinationals to thrive. In this paper, we analyze some macro and micro economic factors that affect the way of doing business for General Electric in India.
Legal/Political factors
Effect of Common law on GE
Historically, India has grown as one of the most preferred investment hubs for multinationals. The presence of General Electric (GE) in India dates back to…...
mlaReferences
Manian, R. (2011). Doing Business in India For Dummies. New York: John Wiley & Sons
Mishra, R K. & Shaopeng Z. (2013). Economic Reforms in India and China. New Delhi: Allied Publishers
Noronha, F.E. (2010). Private International Law In India: Adequacy of Principles in Comparison with Common Law and Civil Law Systems. New York: Universal Law Publishing
Panchal, S. (2015, February 14). "Make ships in India, Modi urges GE." Forbes India. Retrieved from http://forbesindia.com/article/special/make-ships-in-india-modi-urges-ge/39631/1
At this time Six Sigma operates as a new General Electric's institutional competitive strong point and still strives on to develop to boot.
If there is something that Jack noted during his days as a manager, then it is the rate at which GE was turning into a big bureaucracy and indeed realized that a huge change was truly needed. Founded on this perspective, the moment he succeeded the outgoing CEO, he hurriedly kick started the reform that the company needed basing it on the managerial creed that he acquired. Improvement in productivity brought about power in competition as well as profit. There are two things that worked in Jack's favor, one is that through effective use of funds as well as human resource, he managed to improve productivity. Further, the solid plans that improved effectiveness of funds are to streamline institutional hierarchy, with much emphasis channeled to the magnitude…...
mlaReference
Slater, Robert (1998) Jack Welch and the GE Way: Management Insights and Leadership Secrets
of the Legendary CEO, New York, N.Y.: McGraw Hill. Retrieved on April 9, 2014 http://www.referenceforbusiness.com/biography/S-Z/Welch-Jack-1935.html#ixzz2yQp8e1OJ
Welch, Jack, (2001) Jack: Straight from the Gut, New York, N.Y.: Warner Books. Retrieved on April 9, 2014 http://www.referenceforbusiness.com/biography/S-Z/Welch-Jack-1935.html#ixzz2yQocdaWH
Quality Control of General Electric Appliance Company
Company background
General Electric Appliances is renowned for designing and building the best appliances across the globe. Ranging from the design process to production and further to service, the main endeavor of GE Appliances is to assist people in enhancing their lives at home. From self-cleaning varieties to ice and water dispensers, to speed cook rotisseries and fridges that make coffee, GE Appliances has electrified and simplified life for over 12 decades with our heritage of innovation (GE Appliances, 2020).
GE Appliances has its main center of operations situated in Louisville in the state of Kentucky, United States. The company has manufacturing facilities operating in Decatur in the state of Alabama. Moreover, GE Appliances has wholly-owned subsidiaries that are situated in Georgia and also in Tennessee (GE Appliances, 2020). Significantly, GE Appliances has ownership of FirstBuild, a multinational co-creation community, and an ultramodern micro-factory that is…...
Q1. Does GE’s human capital development strategy support its overall strategy? How?
GE leverages HR to its maximum degree by ensuring that HR staff are aware of GE’s overall business strategy and its finances, marketing, and operations so its selection of human capital will align with those goals. It is not simply enough to select capable people but the right kind of capable people that fit in with the overall organizational culture of GE. To achieve this objective requires extensive benchmarking of overall performance, and while GE operations may be decentralized, personnel are evaluated based upon strict standards, including manager evaluations, forecasting of their overall career plan, and succession planning to assume a seamless transition. When Jack Welch assumed the helm of the organization, he added additional requirements, such as requiring all managers to rate employees on a curve (which meant that even adequate performances might be classified as failures), as…...
mlaReferences
Bartlett, C. & McLean, A. (2006).GE’s talent machine: The making of a CEO. Harvard Business Case Study.
GE's Two Decade Transformation
• Examine Jack Welch and his transformation of General Electric
Welch's initial resolve to make the company more agile and lean led to a highly systematic downsizing, delayering and destaffing process focusing on every large headquarters group, which included a cutback by half in the company’s 200-strong strategic planning workforce and the elimination of its arduous strategic planning structure. In its place, he incorporated "real-time planning'', discussed with fourteen key business leaders via informal sessions. GE’s budgeting process was also drastically altered: results were assessed against external competitive conditions, instead of internal comparisons. In the year 1985, Welch did away with the sector level; to guarantee every business directly reported to him, he eliminated 5 hierarchical levels (Bartlett, 2000).
The company did away with 64,160 hourly and 59,290 salaried jobs from 1981 to 1988; divestiture led to the elimination of 122,700 more jobs. While a modest revenue growth from…...
mlaReferences
Adari, P. (n.d.). GE and Jack Welch Leadership - Case study approach. Retrieved March 19, 2018 from Bartlett, C. A. (2000). GE\\\\'s Two Decade Transformation: Jack Welch\\\\'s Leadership. Harvard Business Schoolhttp://www.academia.edu/11670513/GE_and_Jack_Welch_Leadership_-_Case_study_approach
General Electric Leadership Program. Specifically it will discuss the program and why it is successful. General Electric has an extensive leadership program that prepares new college graduates for leadership roles in the company. It is one of the most well respected leadership training programs because it creates excellent leaders ready to take on management roles throughout GE's many different divisions.
GE's Leadership Program is successful for several compelling reasons. It is geared to "global management," because GE is a global company, and doing business in different countries and cultures can be very different and challenging. However, it is a three-step process that helps develop managers in different areas of expertise, such as finance or human resources, and it develops managers at different levels to accomplish different things, such as section leaders and middle managers, as well as executives and upper management. The company does not train people to be managers,…...
mlaReferences
Smith, Ethan. "At GE, Management Development is a Continuous Process." AprediaCorp.com. 2009. 22 Sept. 2009.
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GE's ecent Acquisitions
General Electric Co. has developed to become the most acquisitive industrial firm across the globe since its inception. The company is renowned for spending huge amounts of money on takeovers or acquisitions as part of its strategy to ensure increased growth and profitability. In essence, General Electric's acquisitions are fueled by the focus on ensuring good returns across its operations through obtaining a considerable market share and competitive advantage. Acquisitions are important strategies in the company's operations given that they are regarded as initiatives that enhance organic growth. In the past few years, General Electric has made several acquisitions including the acquisition of Dresser Inc. and Alstom.
GE's Acquisition of Dresser Inc.
General Electric completed a $3 billion takeover of Dresser Inc., which is an international energy infrastructure technology and service provider in 2011 (euters, 2011). This acquisition transformed the international energy portfolio of GE by expanding its energy offerings…...
mlaReferences
Reuters (2011, February 1). GE Completes $3 Billion Acquisition of Dresser, Inc. Thomson Reuters. Retrieved November 24, 2015, from http://www.reuters.com/article/2011/02/01/idUS233735+01-Feb-2011+BW20110201
Team, T. (2014, June 25). GE Set to Expand Its Power Business With Alstom Acquisition. Forbes. Retrieved November 24, 2015, from http://www.forbes.com/sites/greatspeculations/2014/06/25/ge-set-to-expand-its-power-business-with-alstom-acquisition/
Management by Objectives and Organizational Success
Introduction
Management by Objectives (MBO) is a management approach that links individual and organizational goals to improve performance and productivity. By clearly defining objectives, setting performance targets, and providing feedback, MBO empowers employees and enhances organizational success. This paper examines how implementing MBO contributes to organizational success in Thesis.
Goal Alignment
MBO aligns individual objectives with the overall strategic goals of the organization. By cascading goals from the top down, employees understand how their roles contribute to the overarching mission. This alignment ensures that everyone is working towards a common purpose, reducing silos and promoting collaboration.
Improved Performance
MBO encourages....
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