General Electric
Brief summary:
Follows the actions of GE CEO, Jeff Immelt, as he implements a growth strategy for the $150 billion company in a tough business environment. In four years, he reinvigorates GE's technology, expands its services, develops a commercial focus, pushes developing countries, and backs "unstoppable trends" to realign GE's business portfolio around growth platforms. At the same time, he reorganizes the company, promotes "growth leaders" into top roles, and reorients the culture around innovation and risk taking. Finally, in 2006, he sees signs of growth, but wonders whether it is sustainable.
General electric:
Headquarters Fairfield, Connecticut, U.S.
Revenue: US$ 182.515 billion (2008)
Net income: US$ 17.410 billion (2008)
Total assets: US$ 797.769 billion (2008)
Employees: 323,000 (2008)
CEO & Chairman – Jeffrey R. Immelt
Lines of business: Aviation, Jet engines, Electricity, Entertainment, Finance, Gas turbines, Generation, Industrial Automation, Lighting, Medical imaging equipment, Medical technology, Health informatics, Electric motors, Locomotives, Wind turbines, TV motion pictures
Jack Welch Jeffrey Immelt
Jeff Immelt took over from Welch on September 7, 2001, four days before 9/11. The resulting uncertainty coupled with the dotcom bubble burst led to GE losing $80 billion in market cap just within a week of Immelt taking charge. He further stood in the shadow of Welch who in two decades had built GE into one of the biggest companies of the world. Immelt decided that GE had to look to innovation if it was to continue on the same growth of the last two decades.
Immelt was focused on building up the core elements of GE’s success: a portfolio of strong businesses, bound by companywide strategic initiatives and managed by people in a performance driven and adaptive culture. He articulated his vision of a global, technology based, service intensive company by defining a growth strategy based on five main factors:
1. Technical Leadership – Continuing
Follows the actions of GE CEO, Jeff Immelt, as he implements a growth strategy for the $150 billion company in a tough business environment. In four years, he reinvigorates GE's technology, expands its services, develops a commercial focus, pushes developing countries, and backs "unstoppable trends" to realign GE's business portfolio around growth platforms. At the same time, he reorganizes the company, promotes "growth leaders" into top roles, and reorients the culture around innovation and risk taking. Finally, in 2006, he sees signs of growth, but wonders whether it is sustainable.
General electric:
Headquarters Fairfield, Connecticut, U.S.
Revenue: US$ 182.515 billion (2008)
Net income: US$ 17.410 billion (2008)
Total assets: US$ 797.769 billion (2008)
Employees: 323,000 (2008)
CEO & Chairman – Jeffrey R. Immelt
Lines of business: Aviation, Jet engines, Electricity, Entertainment, Finance, Gas turbines, Generation, Industrial Automation, Lighting, Medical imaging equipment, Medical technology, Health informatics, Electric motors, Locomotives, Wind turbines, TV motion pictures
Jack Welch Jeffrey Immelt
Jeff Immelt took over from Welch on September 7, 2001, four days before 9/11. The resulting uncertainty coupled with the dotcom bubble burst led to GE losing $80 billion in market cap just within a week of Immelt taking charge. He further stood in the shadow of Welch who in two decades had built GE into one of the biggest companies of the world. Immelt decided that GE had to look to innovation if it was to continue on the same growth of the last two decades.
Immelt was focused on building up the core elements of GE’s success: a portfolio of strong businesses, bound by companywide strategic initiatives and managed by people in a performance driven and adaptive culture. He articulated his vision of a global, technology based, service intensive company by defining a growth strategy based on five main factors:
1. Technical Leadership – Continuing