GE’s mission has always been to be an innovative leader in manufacturing and making products better for the world. Through its finance segment GE looks…
In April 1981, when Jack Welch became the CEO of GE, US was in recession. There were high interest rates. Strong dollar resulted in country’s highest unemployment rates. In this rapid changing and uncertain environment it was extremely difficult task for him to handle a conglomerate as big as GE and ensure that general confidence among the investors is not lost. His predecessor, Reg Jones, had set the bar extremely high at the company leaving a legacy for Welch to compete with as the new CEO. Also, acquiring new businesses and ensuring that each business unit under the GE umbrella was one of the best in its field was another challenge.…
BALANCED SCORECARD The Balanced Scorecard is a measure of the key elements of a company’s strategy, ranging from continuous improvement and partnerships, to team work and innovation. Organisations design their unique balanced scorecard based upon their unique constraints. A company’s performance depends on how it measures its performance. Managers cannot afford to rely on either financial or operational measures exclusively. No single measure provides a clear performance target focusing on the critical areas of a business.…
General Electric Company (GE) is a diversified technology, media and financial services company. With products and services ranging from aircrafts engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and industrial products, it serves in more than 100 countries. This analysis will use financial ratios to see just how GE is performing as a Fortune 500 company.…
Thus far in the 21st century (2000s), GE’s strategic planning continues towards an orientation of gaining competitive advantage, but with the added dimension of developing and nurturing organizational innovation. As General Electric looks to strategy to help them grapple with issues that include reconciling size with flexibility and responsiveness, planning has grown more complex. This can be attributed in part an increasingly interwoven global marketplace and growing number of competitive forces that have accompanied that change. Likewise, planning complexity has been affected by the economic woes of the 2000s, which have driven businesses to form many new alliances, partnerships and mergers. The net effect of these changes has resulted in the need for cooperative strategies, resulting in more planning and execution complexity. Additionally, the 2000s have brought about changes in…
Immelt is faced with the challenge of getting the GE employees to develop a trusting and open relationship that can grow GE into new markets and hold stable in a time of constant change. His humility and professional will create a new environment for GE that will be profitable from long-term investments, social responsibility, and employee empowerment. Immelt is already leading in his own authentic way by being people-oriented and concentrating on effectiveness rather than efficiency. If he can continue to stay true to his authentic values while developing them further into a level 5 leader, GE will manage to stay competitive in the new economic market.…
Global strength and competitiveness:The Company’s products have been recognized for their quality and the company is known for meeting customer-specific needs (General Electric, 2009). As a result, it has attracted numerous clients including corporations and government agencies and its competitive position is quite favorable. GE is the biggest lender in many of the countries where it invests with exception of the United States (Hurbert, 2007). Its power generation equipment generates a quarter of the world 's electricity everyday.…
General Electric (GE) is a corporation that has been around for generations supplying most every household with one type of electronic device or another. Although other corporations have entered the electronics field and some have succeeded while others, in time have failed, General Electric has managed to remain profitable and successful. In order to do that General Electric devised a strategic plan named, Ecoimagination which determine what challenges face the organization and what it will take to overcome those challenges (Wheelen, Hunger, 2010).…
From its inception as a small export business in Taegu, Korea, Samsung has grown to become one of the world’s leading electronics companies, specializing in digital appliances and media, semiconductors, memory, and system integration. Today Samsung's innovative and top quality products and processes are world recognized. This timeline captures the major milestones in Samsung's history, showing how the company expanded its product lines and reach, grew its revenue and market share, and has followed its mission of making life better for consumers around the world. (SAMSUNG All rights reserved)…
General Electric (GE) is a diversified industrial corporation. The company’s products and services range from aircraft engines, power generation, water processing, and household appliances to medical imaging, business and consumer financing and industrial products. The company primarily operates in North America, Europe, Asia, South America, Australia and Africa. It is headquartered in Fairfield, Connecticut, and GE employs around 287,000 people (Datamonitor pg. 4).…
Silverlight Electronics is a Korean based company selling its high tech products in Korea and abroad. It is part of the SiverLight Chaebol; a family of firms held together by cross-ownership and close personal ties. The SilverLight Chaebol offers a horizontal multi-industry integration. Therefore, SilverLight’s products are mostly the result of the SilverLight Chaebol’s work rather than from SilverLight Electronics itself. The company has enjoyed the government’s help and national protectionism over the past 40 years which has mainly contributed to the success of the company and some of its competitors (Samsung Electronics, Daewoo Electronics…). The company is thus closely tied to the government and is seen by the majority of the population as a Korean pride. Its many rewards from the government reflect this aspect. The company as a strong corporate family oriented identity where employees are socialized into the SilverLight family and ideally work for the company for their entire career.…
Newell deliberately moves managers across business units and from the business to the corporate level. It enables to transfer experience and the benefits of its transfers can be fully realized because of the commonalities across its businesses. They only activity shared is its advanced data-management system that is completely central and common to the whole Newell´s strategy. Determine the measures and rewards play an important role because when conducting an appropriate control system the corporate center can have the right perception to determine strategic decisions and influence performance in the individual businesses. 1. Corporate strategy is guided by a vision of how a firm, as a whole, will create value. 2. Corporate Strategy is a system of interdependent parts and it depends essencially on how the different elements reinforce each others. 3. Corporate Strategy must invests and capitalize on opportunities outside the company 4. The benefits of corporate membership must be greater than the costs. Sharp Sharp is characterized by being a corporation with a consistent vision of technological creativity which has pushed it to the forefront of its industry. Sharp´s valuable resources are a set of specialized optoelectronics technologies that contributes to the competitive advantage of the company´s core businesses. They have the amazing capability to multiply themselves across multiple products creating competitive advantage in those businesses based on its core technologies. Sharp´s basic structure is based on the fact that the research and manufacturing components occur in a single unit where scale economies can be exploited but which requires a need and a…
Recent quality related issues have put Samsung Electronics, one of the world’s largest technology companies at risk. These quality concerns, spiked through recent recalls and external complaints, have generated a flow of bad news coming to the desk of quality director Kevin Sarni. The issues most commonly found within the complaints related to display issues, customer service support, faulty electric components, audio, and safety. Of the main issues, display and customer service support appeared to be the most detrimental. Once the patterns and themes became visible, Samsung and its quality director Kevin Sarni were challenged with immediately identifying root causes. This was not an easy task, although with the help of a Six Sigma Black Belt consultant, Sarni was able to begin further qualitative analysis to determine where action is necessary.…
General Electric is often held up as an example of a well-run, highly successful company (e.g., Kanter, Stein, & Jick, 1992). Readers of the popular business press are constantly served up anecdotes of GE’s success stories (e.g., Cosco, 1994; Quinn, 1994a; Sherman, 1993; Tichy, 1989). Three activities are generally mentioned as being keys to GE’s success – process mapping, “best practices” benchmarking, and “workout” (Stewart, 1991). Naturally, other organizations have become very interested in adapting these activities for their own uses (Quinn, 1994b; Stewart, 1991). Such was the case for an organization that contacted us with a desire to implement a GE workout-type process in their organization. The executive team had read about Jack Welch and GE (Tichy & Sherman, 1994) and some members had even heard Jack Welch speak in person. Yet, they were unsure of what workout would mean for their organization or how it would be implemented. Like most organizations, it was not nearly as big as even a single GE division, did not have as many resources as GE, did not have a dedicated training facility for such endeavors, did not have a tradition of employee…
As a national enterprise with great competence, Gome adheres to the business philosophy of Smart Profit but quick turnover, service comes first. Relying on accurate market positioning and innovative business strategies, Gome leads the trend of appliances consuming. In addition, Gome wins popularity among Chinese consumers of all ages by providing consumers with…