General Electric General Electric (GE abbreviated) was started with Thomas Edison’s invention of the light bulb. Both Thomas Edison and JP Morgan started the Edison Lamp Company, which later became known as General Electric. The people at GE are committed to making a world that works better. General Electric does not have a standard mission statement, but they explain their objectives by the simple equation seen below. General Electric, as seen in the equation above, looks at what the world needs, finds a better way to produce that need and does all of this with a relentless drive to invent and build things that matter. And this equation equals a world that will work better. GE takes pride in the over all quality of their products and wants stakeholders to know that they are very customer driven and will put the customer first and foremost. In the GE work equation, they do not reference the teamwork, customer, excellence and other attributes they may have, but they do focus on markets served, citizenship, employees, and their self-concept. General Electric was actually founded in 1892 when Edison General Electric and The Thompson- Houston Company merged to become The General Electric Company with Charles A. Coffin as the first president. Since the formation of the company, General Electric has come to be the top contributor in health, science, and technology, more so than any other company. There have been some remarkable times for General Electric shown in their
Tesla and Edison worked together creating many inventions while Tesla made improvement on some of Edison’s work. But, unfortunately, as Edison mainly wanted to profit off of his works Tesla just focused on making inventions for the science and benefiting others with providing free electricity. So due to these differences the two parted ways. But this made Tesla vulnerable to profiteers. In 1885 Tesla got funding for Tesla Electric Light Company to improve Arc and AC electrical systems. As because of this he was successful in providing patents for his AC inventions. Soon businessman George Westinghouse purchased his patented AC inventions in order to accomplish providing long-distance power for $60,000 cash. As at this time Tesla was in competition with Edison. With all the negative press campaigns put towards Tesla’s AC electricity, Tesla invented what is known as the “Tesla coil” which is wireless technology we still use today. Along with the invention of the Tesla coil Nikola also helped invent electricity generators, and the induction motor which was mostly AC based machinery. The Westinghouse Corporation was chosen to supply the lighting for the 1893 World’s Columbian Exposition in Chicago, Illinois. This was a big win for Tesla as he could show the world the benefits of AC power. Then in 1895 Tesla made the first hydroelectric power stations at
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
General Electric (GE) is one of the most successful companies in the world and a large diversified multinational conglomerate. GE is broken into 9 business sectors, Global and Growth Operations, GE Capital, Healthcare, Oil & Gas, Power & Water, Energy Management, Appliances & Lighting, Aviation and Transportation. Once regarded as the most valuable company in the world in terms of market capitalization, GE’s performance has recently started to decline.
Edison was not alone in realizing both the practical and business applications of electricity. In 1880, Charles Francis Brush and his Brush Electric Light Company installed carbon arc lights along Broadway from 14th Street to 34th Street. Fed from a small generating station at 25th Street, the electric arc lights went into regular service on December 20, 1880. When the Brooklyn Bridge opened on May 24, 1883, it was lighted by seventy arc lamps operated by another competitor, the United States Illuminating Company. By 1886, some 1,500 arc lights had been installed in Manhattan. In 1887, H.H. Westinghouse (a younger brother of George Westinghouse) and his associates incorporated the Safety Electric Light and Power Company (later called the United Electric Light and Power Company) to generate and distribute alternating current power in New York. Other electric companies were created to serve nearby areas outside of Manhattan. Across the East River, the Edison Electric Illuminating Company of Brooklyn was incorporated in 1887 and was soon competing with Kings County Electric Light. By 1900, there were more than 30 companies generating and distributing electricity throughout the boroughs of New York City and in Westchester County.
When the first modern light bulb that ran on electricity was created by Thomas Edison who had the invention to be patented in his name on January 27, 1800(Thomas Edison's Patent Application for the Light Bulb (1880) para. 1), people finally had a way to light their homes
General motors were founded by William “Billy” Durant on September 16, 1908. GM was basically formed as a holding company for Buick. Although GM owned aircrafts in the 1930’s; there main focus was on motorized vehicles. Later GM became one of the largest automobile manufactures in the US. In fact GM has a headquarters located in Detroit Michigan with over 212,000 employees (General motors).
Around the same time another inventor, George Westinghouse was trying to introduce his alternating current system to the world. Soon after, Tesla was contacted by Westinghouse to purchase all of his patents. Tesla then began working alongside by Westinghouse. However, they ultimately came out victorious with their AC system, Edison was able to bring his system to the market and made his inventions accessible to the world, which Tesla didn’t really do that.
Edison was the most famous of the three as he had developed the first practical light bulb in the late 1870's. Although Edison and Tesla had worked together, Tesla helping to perfect Edison's designs while also promoting his own, they conflicted and eventually separated. This was partly due to Edison's concerning thoughts about Tesla's alternating current system. Using propaganda tactics as Edison felt threatened by Tesla's alternating current system as it could distribute current over longer distances more economically, Edison slandered alternating current by saying it was more dangerous by publically electrocuting animals and suggesting that Tesla's system should be used as the new form of execution for inmates on death row rather than the traditional hanging as it was the faster, more deadly option compared to its predecessor. In the end Edison lost the "war" as Westinghouse, the company using the alternating current systems, won the contract to supply electricity to the "1893 World's Fair in Chicago". This showcase became the launching pad for Tesla's system as it allowed for the accomplishment of building a hydro-electric power plant at Niagara Falls in 1896. This achievement is informally know as the end of the "War of Currents" as alternating current became the official electric power for all industries. w as the end of the "War of Currents" as alternating current became the official electric power for all
Nikola Tesla created various mechanisms that related to electricity, but the invention he is known for the most is the alternating current. He worked with bounteous people, including Thomas Edison. In 1885 It was a war of currents between Tesla’s alternating current and Edison’s direct current. Eventually, Tesla’s alternating current caught the attention of George Westinghouse. George Westinghouse was a businessman and an engineer. George Westinghouse was trying to find a way to supply the nation with long distance power. In 1888 he purchased Tesla’s patents for 60,000 dollars.
After beginning work on electric lighting in 1878, Edison started the Edison Electric Light Company with the backing of J. P. Morgan and the Vanderbilt family. He then publicly demonstrated his light bulb for the first time in 1897. After this Edison developed the idea of electricity as a utility in competition with the gas-lighting industry. He patented a system for electricity distribution and founded the Edison Illuminating Company, later built a generating system in Manhattan that could provide 59 customers power. However, his focus on DC current led to a severely limited market, as DC power cannot travel far distances, so his idea of distribution only worked in dense cities. Competing companies, mainly Westinghouse, pushed AC current distribution, which began to take over the market leading to dwindling profits for Edison’s company. Ultimately, Edison was forced out of control from his company, J.P. Morgan went on to orchestrate a merger with Thomson-Houston leading to the creation of General Electric, leaving the Thomson-Houston board in charge of the
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.
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.”
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).
General Electric is a global digital industrial company that was incorporated on April 15, 1892. They are categorized in the industry of diversified machinery. GE has nine different segments that make up their entire company, these include power, renewable energy, oil and gas, energy management, aviation, healthcare, transportation, appliances and lighting, and capital.