...over a century and continue to make headway? In this paper I intend to discuss some of the aspects that have enabled GE to have fruitful success for over one hundred-thirty years. I will briefly discuss the overall strategy of the company and the approaches they employed to attain success implementing that strategy. I will examine the corporation’s value proposition and comment on current event(s) that influence the business. I will present a brief SWOT analysis and state my general impression of their management style. Finally, I will express my thoughts on their future, where they can be more effective, and what changes should be put into action. The topics covered depict how General Electric has and will maintain and upper hand in corporate world. | | Michelle Jones | 12/12/2012 | | Table of Contents I. Introduction, Meet GE pg. 2 II. The Company’s Overall Strategy and Their Approaches to Attain Success pg. 2 III. The Company’s Value Proposition pg. 3 IV. Event(s) that are Affecting the Company pg. 3 V. SWOT Analysis pg. 4 VI. Impression of the Management Style pg. 5 VII. The Company’s Future and Opinions on How They Can be More Effective pg. 5 VIII. Changes that Should be Implemented pg. 5 IX. References pg. 6 I. Introduction, Meet GE General Electric or GE is a multifarious technology and financial services company; operating through energy, technology infrastructure,...
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...GE Oil and Gas General Electric is a diversified industrial corporation. The company maintains a huge variety of products and services such as aircraft engines, oil and gas production equipment, power generation, household appliances, medical imaging, business and consumer financing and industrial products. The company primarily operates in North America, Europe, Asia, South America, Australia and Africa. GE headquarters is located in Fairfield, Connecticut and employs approximately 307,000 people (General Electronic SWOT Analysis, 2014). GE’s oil and gas business has been the focal point of the company for the last few years; at least since 2011. The company has put together a $17 billion division to take advantage of global demand for new energy resources. GE has built up its oil and gas business by doing more than $14 billion worth of acquisitions since 2007 and putting one of its most promising young executives, Lorenzo Simonelli, in charge of the unit. According to Simonelli, the current plunge in oil prices is giving GE cause to question if they should switch focus onto one of its other businesses. The oil’s plunge to approximately $60 a barrel from $100 a barrel has thrown the company’s economic assumptions into question. (www.wsj.com). Oil & Gas is GE’s fastest growing business. It competes in high-growth markets and creates products like the recently launched first subsea compressor that utilizes GE’s broad technical capabilities. Measurement and Control, a division...
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...Professional Development Plan HRM/326 Professional Development Plan Introduction General Electric has always been a pioneer in technological advancements. In order to succeed in business and be successful GE periodically performs a Need Analysis on areas the company has earmarked for improvement. A Team Concept has been adopted as the most efficient means of exchanging ideas and implementing change. It helps employees develop an understanding of buy in and also allows each to feel important. Inspiring motivation at every level of the company creates an environment of diversity and equal treatment. Leadership, mentorship, and training programs help develop the tools necessary for achieving company goals and tasks. Team B will discuss the methods of analysis used and the learning process required. A evaluation criteria will be used to determine the outcomes. Need Analysis General Electric need analysis provided a more detailed examination in determining if the current training is achieving the business objectives, identify the areas requiring training, and determine whether or not GE employees have the knowledge, skills, and ability to support the business strategy and competitive advantage. General Electric employees are measured by what they can accomplish and how he or she leads to meet individual development and the objectives of the business. General Electric offers a range of learning platforms and training courses to its employees. Among these courses...
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...Strategic Management Analysis Tools BUSI/600 – Business Research Methods October 14th, 2011 Abstract In this paper the author has decided to conduct an in-depth analysis on the strategic management analysis tools. In this paper the author will speak on several types of analysis tools and distinguish how each has a distinguishing role in the organizations planning process. In this literature review, the author will cover the SWOT Analysis, the PEST Analysis, the Value Chain Analysis, Porter’ Five Model, Four Corner’s Analysis, Boston Consulting Group Growth-Share Matrix, General Electric Matrix, and the Strategic Early Warning Systems. Hopefully, after the completion of this review the readers will have a clear understanding of how each of the analysis operate and can be applied to any organization or group. SWOT Analysis The SWOT Analysis is a technique that was developed by Albert Humphrey, who was in charge of a research project in the 1960’s and 1970’s at Stanford University using data from many organizations over the world. The ultimate goal of the study was to reveal why corporate planning was failing. After the results were formulated, Humphrey could identify many areas of concern and the tools Humphrey needed to investigate each of these areas were called a SOFT analysis (Ghazinoory, Zadeh & Memariani, 2007). Humphrey and the team used the categories “What is good in the present is Satisfactory, good in the future is...
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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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...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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...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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...and current operating results, and the economic, social, and political forces that affect it most. B.Present a brief SWOT analysis (Strengths, Weaknesses, Opportunities, Threats). C.Discuss the factors it will need to predict, plan for, and adjust to in the future. INTRODUCTION GE is an American Multinational corporation established in 1892 by the amalgamation of Thomas Alva Edison’s Edison General Electric and Thomson-Houston Electric Company .GE at present operates at the same time in five varied business segment namely: Media (as NBC Universal in cable and film), Energy (e.g. oil and gas), Infrastructure (e.g. Aviation and Healthcare), Home and Business Solutions(Appliances platforms) and Finance ( as GE Capital commercial and consumer finance). GE now has businesses in about 160 countries and approx. 300,000 human resources worldwide. The company’s head office is situated at Connecticut, USA. General Electric is one of the world’s leading diversified business firm widely known for its high quality, advance and technical expertise, leadership, and brand name. Under Welch’s (CEO of the company) leadership, it has undergone enormous reorganization efforts (i.e. divestitures, acquisition, influential GE’s culture) – the support for its accomplishment today. As a international corporation GE has had a contentious history with view to air and water pollution late 1940s and had forever been a goal of condemnation...
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...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 SapuraKencana Petroleum Berhad. This study is organised as follows; section 2.0 will be informing the background of SapuraKencana Petroleum Berhad. Section 3.0 is regarding SapuraKencana Petroleum general environment analysis which divided into five broad categories; economic force, social, cultural, demographic, and natural environment forces, political, governmental and legal forces,...
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...GE Case Study 1. While most companies have difficulty producing sufficient quality candidates for top management succession, how has GE been able to create a surplus? What philosophy, policies, and practices have made it a “CEO factory” as Fortune called it, and “easily the world’s best machine for churning out corporate talent” as The Economist described it? GE leveraged best in class HR practices the level of sophistication in their polices gave them the opportunity to adopt practices that which in turn lead to the growth of leaders form within the company. The culture within GE was known for the development of leaders within, which helped drive a continuous improvement model for managers. The vision of the continuous improvement for managers was to become a expert in every field, or least in most of them. GE also provided job training to its employees through a university that was established through GE. They invested 10% of pre tax income to the development of its employees. 2. How generalizable are GE’s management development policies and practices? How transferable across cultures? Across industries? Across companies? GE is very successful in step-by-step development of their employees and management team. This allowed them to merge new employees with the culture that existed within the company with little push back as new employees adopted the culture quickly. GE also spent time in their recruitment process, which focused on graduates out of Universities...
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...3. Problem Definition The problems and respective impact which GE was facing were: Management Problems: • Higher costs on production, distribution, agency[1] and transaction. Dot-com enterprises with high usage of technology in their process, made GE's costs not more competitive[2]. • GE was running on an old economy business. The company was not ready for changes of the business that were near it and could be running slower. • Because of the dot com bubble, GE was almost obligated to transform into a digital firm. With the raising of new digital firms, more efficient and with lower costs[3], GE's products could be substituted. Organization Problems: • Business processes were not as efficient as the IT based ones. As a consequence, its products had higher prices. This could lower consumer's value or turn into a loss of market share in favor of competitors. • Large vertical organization structure. Thus, total cost of human resources, such as managers and employees, was higher than digital firms[4]. • Distribution of employees was not optimal in order to maximize the use of an information system. This disabled a potential costs reduction[4]. • Extensive time to achieve maximum profit with an IS. Because of its big size, to maximize the use of the IS, a redefinition of all the processes and training of employees was vital after the deployment of the IS. Technology Problems: • Inefficient customer service due to the overload of incoming calls which could not be handled...
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...Strategic Management Plan (Name) (University) (Course) (Tutor) 12th February, 2012. Strategic management Plan Strategic management is a vital craft on the relationship between an organization and its environment. A goods strategy normally enables an organization to compete effectively in a given environment. Every organization is faced with an external environment in which they operate. The environment comprise of a macro environment which is defined by the economic, technological, social and political factors : an industrial environment which is marred by stiff competition and an operating environment which is filled with key player of the various sectors. All organizations are dependant to the environment. Being that the environment is dynamic, it changes fast changing and very turbulent. For organization to survive they have to adapt to these changes, they need to breed excellent strategies to coexist and survive. Strategy has been defined by Thompson and Strickland (1995) as a game plan management has for positioning a company in its chosen market arena, competing successfully to achieve a good business performance. Among other definition strategy is a long term direction for any organization and to achieve a competitive advantage. We need a strategic management plan to implement any strategy. The strategic process is guided as below: Determining the vision and mission of the firm Vision and mission provide direction and scope for the firm’s activities. A good...
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...of information available from a variety of sources that can be used by organizations and practitioners for analysis. Components of the assignment 1 a – prepare a PowerPoint presentation including a MACRO environment analysis of a chosen international company (see appendix 1). Use relevant literature and approaches for preparing the macro analysis such as DESTEP, PEST, PESTL, etc. (5 points) 1 b – set up a SWOT analysis for the same company and present it using visual aids. Remember that in a SWOT analysis you identify strengths, weaknesses, market opportunities for your company, and threats to your business. (5 points) 1 c – prepare a PowerPoint presentation on the competitive landscape of the same company. Use the popular Porter Five Forces framework. In the Five Forces Model, Porter explains that in any industry there are five forces that influence what happens within the industry: 1. Existing companies, 2. potential new companies, 3. substitutes for products offered, 4. the suppliers, and 5. the customers. These five forces combine to make up the business environment. By studying the structure of and dynamics between these forces, you can discover opportunities for improving upon your marketing strategies. (5 points) 1 d - prepare a PowerPoint presentation including a GE/ McKinsey matrix of the chosen company. Please bear in mind that the GE / McKinsey matrix maps strategic business units on a grid of the industry and the SBU's position in the industry...
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...PATTANAIK (159278084) Q1: Do HRM SWOT? Answer: HRM 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 ...
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...KATZ GRADUATE SCHOOL OF BUSINESS UNIVERSITY OF PITTSBURGH Syllabus STRATEGIC MANAGEMENT (BSPP 2409) Instructor: Dr. John C. Camillus Donald R. Beall Professor of Strategic Management 338 Mervis Hall Phone: 412/648-1599 Fax: 412/383-7226 E-mail: camillus@katz.pitt.edu Administrative Assistant: Ms. Janice M. Trygar 341 Mervis Hall Phone: 412/648-1529 Fax: 412/648-1693 E-mail: jmtrygar@katz.pitt.edu Office Hours: 1) Mondays 11:00 am to 12:00 noon 2) Wednesdays 2:00 pm to 3:00 pm 3) By appointment. Course Description: “Strategy,” in the context of management, focuses on creating a harmonious relationship between organizations and their environments. Successful strategy matches an organization’s resources and capabilities with the opportunities that arise in its external environment and, in so doing, creates value for customers, shareholders and other stakeholders, as well as an advantage over the competition. This Strategic Management course offers a set of perspectives, concepts and tools for analyzing and understanding the general management task of formulating and implementing competitive strategies. Frameworks – derived primarily from industrial organization economics and the behavioral sciences – that relate to strategy formulation, the design of management systems, and motivating performance will provide the bases for analyzing and responding to organizational, industry, national and international contexts. The primary...
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