...General Electric Everybody has heard of Thomas Edison, the inventor of the light bulb and the man who discovered electricity. General Electric started when a man by the name of Charles A. Coffin started a company called Thomson-Houston and they made different technology for the time, and were the main competitors for Thomas Edison. Over time, both companies couldn’t compete with each other’s different patents and inventions, so they eventually merged in the year 1892. Since the time that the two companies merged, it has become more than evident that General Electric is the number one company of its kind in the world. General Electric was sought out by the United States Government to create the first aircraft engine ‘booster’. After that, Thomas Edison began experimenting with plastic filaments for the light bulb, which led to General Electric creating the plastics department. General Electric is still expanding today and showing no signs of slowing down. They have recently purchased a company called Dresser, which is basically a company that tests different items and makes sure that they are not only working efficiently, but also working to make sure that they are using the least amount of energy possible. General Electric is also looking to expand in China, and recently signed a $700,000,000 contract with Saudi Arabia to experiment and use wind energy. I think that with all of the expansion that General Electric is doing, that their stock prices should rise. I believe...
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...General Electric Company (GE) Company Overview Describe the company in general and how it operates, and the market. General Electric is a well-diversified infrastructure, media and finance company taking on the world’s roughest challenges and obstacles. General Electric is currently comprised of six distinct divisions. GE Technology Infrastructure develops technologies for transportation infrastructures. This segment includes GE Aviation, which produces and sells jet engines and other parts for military and commercial aircraft. GE Transportation provides technological parts, such as locomotives and engines, to the railroad, marine, and transit industries. GE Water manufactures pumps, filters, and other equipment needed in water treatment and desalination systems. GE Healthcare is a subunit of GE Technology Infrastructure that offers healthcare and medical-related services and goods. The division manufactures and services a range of medical equipment including CT, PET, MRI, nuclear, and X-ray imaging. GE Energy Infrastructure segment manufactures equipment for energy companies. GE Energy sells energy technologies such as gas turbines, generators, and steam turbines to power companies and industrial plants. GE Oil and Gas supplies equipment such as drilling systems, floating production platforms, compressors, and turbines for the oil and natural gas industry. Oil and Gas is one segment the company would like to expand, aiming to double its revenue to $15 billion by 2014...
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...Globalización en General Electric 1. ¿Por qué razón GE ha invertido tan agresivamente en su expansión en el extranjero? ¿Qué oportunidades está tratando de explotar? GE es una compañía cuya doctrina está fuertemente arraigada a la innovación, unos de los pilares que caracterizan esta empresa es la estrategia de expansión y crecimiento, siendo una multinacional altamente organizada invierte 1 billón $ en capacitación de sus empleados para desarrollar en ellos conductas de liderazgo que permitan garantizar su competitividad. Abarcan todo tipo de mercado, en donde GE toma participación pone como principal objetivo ser la compañía número 1o número 2 en todos los sectores donde tiene participación. El medio para lograrlo fue una agresiva y oportunista estrategia de inversión extranjera, aprovechando crisis económicas GE adquirió empresas de América Latina, Europa y Asia, logrando a la fecha ascender sus ingresos totales a un 60% provinentes de mercados internacionales. Actualmente GE solo busca estabilizar su mercado de finanzas ya que sus acciones se han visto afectadas por una merma en sus ventas, aunque esto muy poco daño hace a la multinacional, ya que la misma garantiza continuar con sus objetivos de innovación. Próximamente GE a comenzado a explotar el mercado de eco ambiental y de energía renovable. 2. ¿Por qué GE trata de cambiar algunas de las oficinas principales de sus negocios globales al extranjero? ¿Cómo podría beneficiar dicha mudanza a la compañía? ¿Benefician...
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...[pic] General Electric’s Operations Management & its Competitive Advantage in the Global Environment 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...
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...General Electric Company In 1890, Thomas Edison formed Edison General Electric as a way to bring together several of his business interests. During this same time period, his competitor, Thomson-Houston Electric Company, gained important patents that lead to the merger the two companies which in turn created General Electric Company in 1892. Both of these plants are still maintained and operating to this day. Headquartered in Fairfield, Connecticut, General Electric was ranked third largest company based on profits, total sales, assets and market value with over 287,000 employees around the world (ge.com). In 1896, when the Dow Jones Industrial Average formed, GE was one of the original twelve companies that were listed and is the only one remaining to this day. General Electric has become a multinational corporation that operates through technology infrastructure, NBC Universal, Energy, Capital Finance, and a Consumer and Industrial segment (ge.com). Electric has had many additions to their business including the absorption of the National Electric Lamp Association, the Radio Corporation of America which furthered international radio and created an industry of its own. GE also was the first to introduce the idea of superchargers during WWI and was the world leader of supercharging during WWII which the development of the Whittle W.1 jet engine in 1941 (Wikipedia.org). GE also obtained Enron’s wind power assets during Enron’s bankruptcy proceedings that was the only U.S. manufacturer...
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...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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...Case: Globalization at General Electric Summary: The closing case explores General Electric’s quest to become the number one or two company in global market for every business which it take part. General Electric (GE) is the largest industrial conglomerate in America, produces a wide array of goods and services, from medical equipment, power generators, jet engines, and home appliances, to financial services and even television broadcasting. Since 1985, GE earned over 40 percent of its revenues from international sales. Besides that, analysts estimate that by 2012, GE will be generating 55 to 60 percent of its business internationally. When GE was led by Jack Welch, to reach the goal, he sanctioned an aggressive and often opportunistic foreign direct investment strategy. In present, under the leadership of Jeffery Immelt, GE is moving towards seeing a more global corporation with an interest. The expansion of GE is mainly powered by dynamics economies of Asia. Question 1 GE has invested so aggressively in foreign expansion is due to the fact that they want to achieve their main goal which was to be number 1 or 2 globally in every business in which it participate. They took opportunities to exploit countries which having economic downturn. For example, in Europe from 1989 to 1995, they manage to invest $17.5 billion in the region, half of which was used to acquire some 50 companies; in 1995, when the Mexican peso collapsed in value, they purchase companies throughout Latin...
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...In the United States General Electric (GE) asset management is one of the largest managers of institutional assets. It has more than 80 years of investment experience and manages more than $122 billion in assets (GE investor relations, 2010). The company’s money managers can access direct, real-time information from their partners who do business around the world. They gain insight and real-time intelligence on local economic conditions, political environment, local company insights, competitive trends, industry specific analysis, and market trends. With this ability the company has better assess to the investments of many of their companies and markets they follow. The company is a supplier, customer, and competitor in many industries. GE has a strong set of four global diverse businesses units operating in 160 different countries. These businesses include GE infrastructure, GE technology, GE capital NBC Universal, and GE energy infrastructure. The company meets essential world needs that include water, transportation, energy, health, access to money, media information, and environmental technologies. The company is well positioned in high-growth markets that include China, Brazil, India, and the Middle East. According to the GE investor relations website (2011), “GE Vice Chairman John Rice, who’s been in charge of GE’s core aviation, transportation and healthcare businesses, has now been tapped to oversee all of GE’s non-U.S. operations with particular emphasis on...
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...Introduction In 2004 NBC became NBC Universal, Inc. through the merger of NBC, wholly-owned by GE, and Vivendi Universal Entertainment (VUE). The merger was intended to strengthen NBC’s already successful company and to create a multimedia powerhouse that would produce and distribute its content through a variety of networks (Proquest). Although NBC has gained more viewers it still trails behind its biggest competitors at #4, while FOX, CBS, and ABC stay ahead. Within every company there are strengths and weaknesses. It’s important to evaluate and understand a company’s internal analysis and implement strategic plans to turn their weaknesses into strengths. NBC has done a great job in trying to keep their head above water throughout the years with their poor ratings through their strengths such as innovation, diversity, company acquisitions, and internal employee growth and success (EMS). The company also has it weaknesses which have held them back at times, but they continue on finding ways to decrease them. Weaknesses include; structure of company, time management, money management, and company growth. Overall I believe that NBC has done all possible in maintaining their company internally well-balanced. I will discuss NBC Universal, Inc. strengths and weaknesses and how they have affected the company now and how they will in the future. Strengths Innovative NBC Universal, Inc. is one of the first in the television broadcasting industry and it continues to strive...
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...4. General Electric Company’s Aircraft Engine Business Group (AEBG) develops and produces aircraft engines for the airline industry. The airline industry demand is driven by safety, efficiency, and economic effect. The Unducted Fan Engine (UDF) design must meet this industry’s needs and expectations. The airline industry has three main players to consider, Boeing, McDonnell Douglas, and Airbus Industrie. The UDF can provide an economic advantage to the industry. The propeller design makes small-middle sized planes more fuel efficient. Planes will require 70 percent less fuel while carrying the same number of passengers, so in turn will be able to travel farther distances. This will provide the airlines with an opportunity to offer new travel routes to their customers. These passengers of the airline industry are the UDF’s real customers; however they are removed from the decision process by several steps. The UDF design will provide them an advantage of smoother travel with a reduce vibrations from the fan. The opportunity for the airline industry to offer new travel routes will also carry over for an advantage to passengers to plan new trips. The negatives associated with the UDF design, is the look of the design itself. The visible blades give an appealing look that does not provide passengers with a reassuring feeling. With safety being a key demand aspect in the airline industry, the blades do not satisfy this need. Demand for 150 seat airplanes, that would use the UDF...
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...GE’s Two-decade Transformation: Jack Welch’s Leadership « We Bring Good Things To Life ». This is how General Electric (GE) defined its activity, in general terms, between 1979 and 2003. During this period, and more precisely from 1981 to 2001, Jack Welch was the company’s CEO. This previous advertising slogan, designed by the advertising firm BBDO, largely contributed to GE corporate identity; indeed, according to Baer Performance Marketing, “When you hear the name General Electric, […] “We Bring Good Things to Life” is also brought to mind” (baerpm.com). Furthermore, it didn’t have for only purpose to promote the firm’s products and services, but it also emphasized their high quality, and as a result, it highlighted GE’s will to improve consumers’ lives. In other words, the slogan had more than communication purposes: it would lead the entire process of value creation; it summed GE’s strategy up. General Electric was created by a merge between two electricity-related companies – Edison General Electric Company and Thomson-Houston Electric Company, in 1892, from Thomas Edison and Charles Coffin initiative. Widely considered as one of the most successful corporations of the 20th century, recognized by Fortune to be the “Most Admired Company in the United States” and named Financial Times’ “Most Admired Company in the World” in 2001, the firm has dramatically grown from a merge between two electricity enterprises to an American multinational conglomerate corporation...
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...General Electric: Branding in Business to Business Teaching Notes Summary This case focuses on the marketing and advertising efforts that have been done by General Electric throughout the years to build a corporate brand and establish a personal brand identity. Immelt- General Electric ninth CEO- has to decide on the direction of General Electric within the coming years. Immelt who has officially held the position of General Electric’s CEO few days before September 11, 2001 has been faced with a lot of challenges since day one. These challenges are mainly a struggling economy, rising fuel costs and global warming. The main issue at the current time is what other extensions or modifications to General Electric’s brand strategy could be done in order to maintain its position within the global market. Class discussion can revolve around the following questions that students should consider before class: 1. Discuss the importance of B2B marketing and a strong B2B brand. How does it differ from consumer marketing? 2. Did Jeff Immelt and Beth Comstock do the right thing by dropping “We Bring Good Things to Life” for “Imagination at Work”? Why or why not? 3. Has “Imagination at Work”, “Ecomagination”, and “Healthcare Re-Imagined” changed GE’s brand? If so, how? Is it a good change or not? 4. Can Immelt transform GE’s approach of innovation (risky, unknown areas like fuel cells, solar energy, hydrogen storage, and nanotechnology) versus past strategies of improvements...
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...General Electric General Electric (GE), the producer of countless consumer goods in the 1980’s had been boycotted by INFACT (Infant Formula Action Coalition). The boycott against General Electric came upon the company when the company became involved with the military. For the boycott, INFACT wants to put pressure on GE for the involvement of the production of missiles, weapons, and military supplies. Though in the 1990’s a documentary Deadly Deception: General Electric, Nuclear Weapons, and Our Environment (General Electric, 2010, para.2) had won an Academy Award, though this did help to stop most of the boycotts. Throughout the 1990’s, GE was still being charged with dumping waste materials into the Hudson River in New York. “According to a 2002 study, GE is a “repeat offender” in misconduct among the government’s top contractors.” (General Electric, 2010, para.3). The charges that are against GE are environmental harm, fraud, employment discrimination, and poor safety conditions. Though GE feels the charges and the media has damaged the company. For this reason and many others, customers or ethical buyers will not shop through GE, boycotting is what he or she will continue to do. General Electric is ranked over the years as a well admired company though. According to Ethical Corporation, “Two years after launching Ecomagination – which the company describes as “an aggressive, long-term initiative to bring new technologies to market that help meet the world’s...
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...Case 1: Jack Welch at General Electric Bujar Berisha – G1217167 Mirza Zia – G1213229 Nik Badriah Binti Nik Rahimi – G1215608 Nur Auni Afifah Hanapi – G1210096 Nurul Izzah Aziz – G1214870 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,...
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...Running head: General Electric Analysis MG 495 Park University A. Money F. Thomas Analysis of the General Electric Company INTRODUCTION The General Electric Company (GE) is ranked among Fortune 500 as the 6th largest firm in the U.S. by gross profit as well as the 14th most profitable, #7 for executives, #5 best global brand, #82 green companies, #13 most respected companies and #19 most innovated firms. GE divisions include GE Capital, GE Energy, GE Technology Infrastructure and GE Home and Business Solutions. Through these divisions, GE is able to participate in a wide variety of markets, from industrial to lending and insurance. It sells a variety of products like lighting, industrial automation, medical imaging, motors, railway locomotives, jet engines and transmission/distribution of electricity. The company is headquartered in Fairfield, Connecticut and incorporated in Schenectady, New York. It employed 301,000 (131,000 in the U.S.) people as of December 2011. (http://www.ge.com/ar2011/pdf/GE-20120224-10K-20111231.pdf) The company recorded revenues of $142.24 billion during the financial year ended December 2011 (FY2011) this is a 4.58% decrease from FY2010. The decrease in net sales for FY2011 reflects the impact of the current economy here in the U.S. The operating profit of the company was $14.07 billion in FY2011, an increase of 8.9% over 2010. The net profit was $1.45 billion in FY2011. (http://www.marketwatch.com/investing/stock/ge/financials) ...
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