Executive Summary : General Electric Company

Analyzing GE’s corporate-level strategy from 2001 – present with Jeff Immelt as CEO, GE focuses on the growth and development platforms. Technology is the key driving force for GE’s future and growth. Advancements in industries such as energy, health and aviation fueled demand for cleaner and more efficient energy production. GE identified new markets with potential high-growth that offered attractive returns through strategic mergers and acquisitions. As CEO, Jeff Immelt established a process for identifying projects that offered attractive growth potential which were then nurtured and treated as special projects or initiatives that were not subject to strict budget constraints. Immelt introduced GE’s three strategic imperatives as: (1) sustaining its strong business model, (2) strengthening the business portfolio, and (3) driving its growth initiatives. www.ge.com

GE healthcare is one of the best firms in leadership development. The firm’s Human Resources Department is keen in developing a strong workforce that responds to changing global needs. It employs strategically employs and motivates the best qualified talents globally. It invests more than $100 million annually on educational training and staff development. The GE Healthcare Institute provides advanced training for GEHC employees and customers. It combines Technical training, Applications and Leadership trainings. More than 70 laboratories with the latest equipment provide GE and customers world class instruction in all areas of equipment maintenance and operation. The Training in Partnership curriculum provides a full range of training programs. GE managers are considered one of the firm’s distinctive competencies and strengths. The challenge is maintaining employee motivation through better remuneration in a time of global economic meltdown and declining profits for the firm.

In May 2014, Forbes compiled a list of the largest public companies in the world. In order to give a perspective on GE’s size, they ranked seventh overall behind several Chinese companies, JP Morgan Chase, Berkshire Hathaway, and Exxon Mobile, but ranked ahead of Wells Fargo, Royal Dutch Shell, and Apple. GE operates as an American multinational conglomerate. The main lines of business include various energy divisions, technology infrastructure, consumer finance, and consumer and industrial products. GE makes everything from light bulbs to jet engines. They are truly one of the world’s most powerful and recognizable brands. One of their most dominate divisions is their finance division, GE Capital. GE Capital’s division is run like an internal bank. If

The General Electric Corporation manufactures military and commercial aircraft jet engines. It also produces appliances such as refrigerators, electric stoves, microwave ovens, washers and dryers, air conditioners, and (of course) televisions. Its products are sold under the GE, Monogram, Profile, RCA and Hotpoint brand names. GE also manufactures a vast array of electrical equipment, medical technologies such as x-ray machines and ultrasound equipment, AC and DC electric motors, plastics, silicones, superabrasives, train engines, and steam turbine equipment for nuclear power

Also; Citigroup, Inc. another competitor for the GE Company made a total of $64.95 billion in 2011, and when we compare it with GE and SI its earnings where even less in the same year, making General Electric a leader in the industry. With this valuable information GE management can analyze its competitor’s financial statements results and from there they can evaluate their faults and create new ways to increase their annuals earnings and secure their place as one of leading companies in their industry. Another way GE can go forward in the industry is by adapting its services and products to other countries that need them.

Since its forming the General Electric Company known as “GE”, has become one of the world’s most powerful and inventive companies to exist. “Electric lighting, power transmission, medical equipment, and transportation were all areas in which Edison held patents and had formed small companies, and are all areas in which this conglomerate today has large holdings” (Wisegeek.com, 2015). It still is today the number seventh on Forbes list of the world’s biggest companies (Forbes, 2015). This can be

When Reg Jones, Welch’ Predecessor, became CEO in 1973, the company organization was just completed to be centralized, but Jones could not able to keep up with reviewing massive volume of information generated by 43 strategic plans. Finally in 1977, he capped GE’s departments, divisions, groups, and SBUs with a new organizational layer called “sectors”, which represented macrobusiness agglomerations.

General Electric is a highly diverse corporation, manufacturing a wide variety of goods from light bulbs and appliances to aircraft engines and nuclear weapons. GE enjoyed national recognition as a model of American industry, as well as rising profits

The General Electric Company is an American multinational company incorporated in Schenectady, New York and the headquarters are situated in

A strength of General Electric as a company is the resources that they have working at the company. They have over 300,000 employees and they all come from different backgrounds. This helps the company be able to spread around the world, because they have employees from that come from all different countries around the world. According to information

General Electric is one of the largest electrical firms in the U.S. and is listed as the fourth largest industry in the world. It operates through four main divisions: Energy, Technology Infrastructure, Capital Finance, and Consumer and Industrial. In the year 1876, Thomas Edison pioneered his own laboratory in New Jersey, where he created one of the greatest inventions during that time period. Edison created the first ever-incandescent electric lamp. Throughout the next ten to fifteen years Edison began selling these lamps, as well as, his other electric lighting devices, which eventually led him to develop his own company called the Edison General Electric Company. By 1892, the Edison General Electric company and one of its competitors the Thomson-Houston company merged to create a new organization, which they solely called the General Electric Company. The company has developed in a large amount of ways throughout the last 100 years and has created many valuable inventions that we use today. For example, in 1971 the first portable air conditioner was created that we use today in many of our rooms. Also, in the last 15-20 years the company has had many medical inventions, such as scanners for doctors to capture pictures of inside their patient’s bodies. Inventions such as washing machines, stoves, ovens, and heaters were all created and are sold by General Electric, which we all buy and use today.

The third factor is Innovation. GE is at the forefront of innovation in the technological and services field. With 11 different operating units that make GE a Fortune 500 Company, it has to be constantly working to create and implement new technology and better service for the clients they serve. One example of its innovation prowess is that over the 110 plus year history of GE, it has amassed more than 67,500 patents and the firms scientists have been awarded to novel prices and numerous honors. GE needs to be innovating constantly because it operates in more than 100 countries around the world and generates approximately 45 percent of its revenues outside the U.S. mainland. A manager at GE needs to put innovation to work and function for his or her team. In order to do that the manager has to plan ahead taking in consideration that innovation leads to changes and he and his team have to he prepared to undertake them with or with out notice.

In our opinion, the consolidated financial statements appearing on pages 60, 62, 64, 66–114 and the Summary of Operating Segments table on page 34 present fairly, in all material respects, the financial position of GE as of December 31, 2009 and 2008, and the results of its operations and its cash flows for each of the years in the three-year period ended December 31, 2009, in conformity with U.S. generally accepted accounting principles. Also, in our opinion, GE maintained, in all material respects, effective internal control over financial reporting as of December 31, 2009, based on criteria established in Internal Control — Integrated Framework issued by COSO (KPMG).

Analysis - GE has likely been so successful over the years because of its ability to foresee major trends and capitalize upon them. In the 1960s, for instance, GE was one of the eight major computer companies. Even recently, since 1986, GE has continued to acquire several organizations; portions of NBC, wind manufacturing, universe pictures, aerospace industries, international firms, software and hardware manufacturing, even oil companies abroad. The company culture describes itself as not one company, but many each unit a vast and complex enterprise in and of itself, with a corporate

GE was found by Thomas Edison in 1893. It has around 343,000 employees and operation over 100 countries. The company experienced continuous