Ge And The Industrial Internet

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

Innovation strategies are critical to business success and longevity. They allow companies to remain competitive in current trends and set the pace for future trends. VIZIO is an organization that provides high definition entertainment options and unmatchable value through televisions and home theater systems. The idea that everyone deserves to own the latest technology is the foundation for their endeavors (About, 2011). This paper serves to describe and evaluate VIZIO’s innovation strategy. It will also provide

GE Healthcare is a unit of the wider General Electric Company. It has a global orientation, employing more than 46, 000 staff committed to serving healthcare professionals and patients in over 100 countries. It is headquartered in the United Kingdom (UK)-the first GE business segment outside the United States. It has a turnover of approximately $ 17 billion. The headquarters hosts GE healthcare corporate offices as well as finance, sales, global sourcing departments, X-Ray marketing, manufacturing, design and shipping. The finance and sales departments at the headquarters handle GE Healthcare’s high level decisions, but each modality often has its own similar

At Gegadyne every day brings new innovation, but we integrate several products on a regular basis: conveyors, cameras, lasers, robots (of every kind), presses, soldering/welding tools, spindles, indexers, etc. On the controls side, we program all the major PLCs (Fanuc,Siemens etc.) and also computer based systems.

The case GE´s Imagination Breakthroughs: The Evo Project is a really interesting case, it talks about the dramatic change that the company General Electric had to face in order to grow, and the process that the CEO had to pass in his first years in charge of the company.

Immelt is trying to hire new young employees that know about technology and can easily learn how to use newer technology. General Electric is still working out issues with GE Capital and Immelt is continuing to remove problem segments from GE Capital. Immelt has declared that ideally only $10 billion of GE’s revenue should come from its financial departments, and that most of the revenue will come from General Electric’s other important departments, such as GE Aviation, GE Oil & Gas, and GE Power. One of the largest initiatives that General Electric is currently taking is what they call “Industrial Internet.” The “Industrial Internet” is a term that General Electric uses to “[refer] to the integration of complex physical machinery with networked sensors and software.” Basically, the “Industrial Internet” is using electrical sensors and software from the internet and adapting it to machines, an example of a product, made by another company, that would have used the term “Industrial Internet” is the “google smartcar.” An important issue within General Electric is that upper level employees are making millions of dollars, while workers don’t receive so much. In 2014, Jeffrey Immelt pocketed about $48.9 million and increased his salary by 8.2% to $3.8 million. So, one of the main issues in General Electric would be the corruption that occurs in the higher level executive jobs. However, the corruption in the executive level jobs does not affect how well the stocks do for General Electric, and it should not influence anyone’s decision to buy General Electric’s

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.

With the broad range of expertise in engineering and technology the company has certainly become and innovative leader. “So the company also takes the advantages of the new technology innovation in order to improve the efficiency and quality of the products. By utilizing the efficiency of the workforce, the company can posses the highest quality products and control over the 45% industry all over the world” (Brainmass, 2008, pg. 1).

Soon after taking charge, Welch set the standard for each business to become the #1 or #2 competitor in its industry—or to disengage. Asked whether this simple notion represented GE’s strategy, Welch responded, “You can’t set an overall theme or a single strategy for a corporation as broad as GE.” By 1983, however, Welch had elaborated this general “#1 or #2” objective into a “three circle concept” of his vision for GE. (See Exhibit 2.)

General Electric is a well-known company in many regions of the world, but what people aren’t particularly aware of are the steps that General Electric has taken to get to where it is at today. When I think of General Electric the first thing that comes to mind is the role that the company plays in the production of household appliances, but General Electric is a much bigger contributor to people’s lives than is most people realize. People aren’t familiar with the internal business decisions that General Electric makes to ensure that the company continues to grow and run as smoothly as possible, allowing the company to continue to provide people with the services that they have grown to recognize as being a trademark of General Electric.

“GE’s commitment to implementing innovative, cost-effective technologies that enhance the customers’ environmental and operating performance.”

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 entering a new generational era, one where technology is at the forefront of growth and adaptation. Immelt identified Technology as one of GE’s major drivers for future growth which was signaled by his expansion of GE’s R&D budgets. He shifted the importance of Technology within GE by focusing on the R&D projects that offered large scale market potential, reffered to as “Imagination breakthroughs”.

Doing these acquisitions at some certain stages were important to diversify GE technologies and maximize its market share (Immelt, 2005), however, the balancing between growing organically by empowering the company from within and acquiring some companies is even more important for setting up the company directions. Since more than half of the company revenue is derived from its financial services (Company Data 2008), this brings the argument onto the table about the nature of the company making it a financial company with a manufacturing arm.

The Internet is constantly developing. From four computers back in the early 70 's to an uncountable number today, the Internet has extreme power and has changed the world. In recent years, Internet growth has been expanding more rapidly than the government can understand. The laws and regulations of a month ago are no longer useful today. The government either has to move quicker in deciding outcomes pertaining to the Internet or has to give up control entirely. Businesses are making large technological advances that involve the Internet and are being held up by government decisions. Commercialization of the Internet brings in new technologies that are essential to growth.