General Electric And Transformation Of 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

Please read Case Study: The Jack Welch Era at General Electric in Chapter 5 and answer questions 1 & 3. Please submit the answers by the end of week #3. At least one page is required.

For a goal-oriented person, a strategic plan can set direction and serves as a template for consistent decision making that moves the organization toward its envisioned future (Zuckerman, 2013). On the other hand, Zuckerman (2013), poses a different perspective that states that strategic planning may not be strategic after all, becomes as I explained before, it can become a checklist technique that lacks innovative practices. However, the outcome of the strategic planning process relates further to the mission and vision of those who are developing the strategies than in the planning within itself. Therefore, the reality is that strategic planning can be as straightforward and complex as an organization wants it to be. Therefore, if an organization envisions growth, the proposal needs to provoke that, and if a team is only planning to organize itself; then, the plan can be subtler. Therefore, organization can review plans as often as yearly and can last as long as five

General Electric (GE) is a multinational conglomerate based in the U. S. whose mission is to “build, power, cure, move, and connect the world” (Culture | GE Careers," n.d.). According to GE’s fact sheet ("Fact Sheet | GE.com," n.d.), the company is headquartered in Boston, Massachusetts and operates in 170 countries. These locations include five research and development centers, three of which include: Bangalore, India; Munich, Germany; and Niskayuna, USA ("GE Global Research Locations | GE Global Research," n.d.). These three nations are members of the International Monetary Fund (IMF) and the World Trade Organization (WTO) ("World Factbook — Central Intelligence Agency," n.d.). All three are also members of the World Bank ("Member Countries," n.d.).

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.

This report’s objective is to provide analysis of the leadership challenge that General Electric (GE) is currently facing, and to recommend solutions. The primary problem is determining what kind of candidate is required to replace retiring CEO Jack Welch. This has left GE to question how much does the company want to change policy over the previous era, and where does the company want to be in future?

In order to illustrate how internal and external factors impact the four functions of management -planning, organizing, leading, and controlling- our team has chosen General Electric (GE) Company as an example. GE has been in business since the year 1890, when the company began operating under Thomas Alva Edison (inventor of the incandescent light bulb). Since then GE has growth and mature as one of the greatest multi innovator firm in business history, in addition GE has become an international company expanding its products and services around the world.

Prior to Welch taking over the position as the CEO, General Electric’s organizational structure was a little out of hands even for his predecessor. There were too many layers of sectors transmitting information to the CEO. Welch came with a new strategic planning idea in mind. Restructuring was one of his early priorities. Shortly after, Welch became the new face of the company;

As stated by New York Times, “the GE Way Isn’t for everyone”, this way that has been controversially spoken of was developed by John Welch, one of the most prominent CEO’s in the history of General Electric. Welch developed a breakthrough in business management that produced innovative leadership strategies. The implementation of this strategy is the reason why GE became one of the most highly labor-efficient and highly productive powerhouse’s of the 21st Century. During Welch’s 20 year reign as CEO, and later on as chairmen of GE, the

General Electric, or GE as it is better known, is a diversified technology, media, and financial services company. Their primary objective as stated is “focused on solving some of the world's toughest problems”. Their slogan, which is “imagination at work”, truly says everything there is to know about the vision of the company. Inside GE they truly believe if you can imagine it, it is possible. While GE is one of the most diversified companies in the world, they are primarily viewed as an industrial company as well as a financial services company. The company is listed on the

GE Corp (GE) is the world 's largest diversified services company, but also to provide high quality, high-tech industrial and consumer products. From aircraft engines, power generation equipment to financial services, from medical imaging, television programs to plastics, GE is committed to creating a better life through a number of technologies and services. The history of the GE Corp can be traced back to Edison Thomas, who founded the Edison Electric Light Company in 1878. .Hailed as a critical corporate function during the late 1960s and 1970s, its effectiveness came under attack in the 1980s and 1990s.( Steiner 1969) In 1892, Edison GE Corp and Houston Thomsen electric company merger, set up a GE Corp (GE). GE is the only company in the index chart since the Dow Jones industrial index was established in 1896.

Background Information- General Electric Company, known as GE the world over, is an American-based, multinational corporation headquartered in Connecticut. In 2010, the company reported in excess of $150 billion in revenues, net income of over $12 billion, and almost 300,000 employees. It operates through four basic segments: Energy, Technology Infrastructure, Capital Finance and Consumer and Industrial Production. In 2011, GE was ranked the 6th largest firm in the United States as well as the 14th most profitable. Since its founding by Thomas Edison in 1990, and becoming one of the original 12 companies listed on the Down Jones Industrial Average in 1986, GE has been iconic in its relationship as an American innovator. In fact, GE founded RCA in 1919 to further the use and disbursement of international radio, just one example of their early commitment to innovation (GE Fact Sheet, 2012).

Over the past decades, organizational changes have become recurrent. It then became decisive for managers to perfectly understand this phenomenon in order to lead organizations to efficiency.

The nature of strategy to adopt for an organization raised the so-called “design versus process” debate, which emphasizes the difference between deliberate and emergent strategies (Mintzberg and McHugh, 1985; Mintzberg and Waters, 1985). Deliberate strategies are defined as strategies that are formulated in advance, whereas an emergent strategy represents an evolving strategic pattern with or without advance planning. However Grant (2003) argued that this debate has been based upon a misconception of how strategic planning works in the real world. From his investigation of the strategic planning practices of the major oil companies, Grant (2003) derived that strategic planning “can be described as processes of “planned emergence”. The primary direction of planning was bottom-up – from the business units to the corporate headquarters – and with business managers exhibiting substantial autonomy and flexibility in strategy making. At the same time, the structure of the planning systems allowed corporate management established constraints and guidelines in the form