General Electric: Imagination at Work
General Electric: Imagination at Work
Dee Ann Clark, Michele Harbin-Williams, Sudha Sunkara
University of Phoenix
ORG/502
Human Relations and Organizational Behavior
Jerry Davis
October 19, 2005
General Electric When one thinks of General Electric (GE) they envision a well diversified, elite, global corporation. GE employs more than 300,000 people worldwide and serves customers in 160 countries. GE 's culture is well defined by its mission, vision and values. This company has become recognized for its unparallel training and career development as well as for its significant organizational processes. These practices have enabled GE to provide the utmost quality while maintaining their aggressive commitment to leadership development across the world. When one hears the name General Electric, most think of Jack Welch, former CEO of GE. He became GE 's youngest Chairman and CEO in 1981, which resulted in some dramatic changes over the next five years. Welch was successful in streamlining GE; acquiring new business segments, and made the company more competitive. He motivated the managers of the businesses to become more productive than ever. He eliminated layers of management, laid off over 100,000 employees, and shut down factories. He was nicknamed "Neutron Jack" due to his ability to act like a neutron bomb that kills people but leaves the buildings intact. The results of Jack 's reign delivered extraordinary growth, increasing the market value of GE from $12 billion in 1981 to about $500 billion when he stepped down 20 years later in 2000 (Koteinikov, 2005). GE says they do not have any mission statement per se, instead GE is more focused on their business objectives and operating philosophy. The business objectives are to build a portfolio of strong businesses, create processes that generate cash, and capability to achieve organic revenue growth. GE believes consistent focus on these imperatives, backed by strong execution, which is the key to
Dee Ann Clark, Michele Harbin-Williams, Sudha Sunkara
University of Phoenix
ORG/502
Human Relations and Organizational Behavior
Jerry Davis
October 19, 2005
General Electric When one thinks of General Electric (GE) they envision a well diversified, elite, global corporation. GE employs more than 300,000 people worldwide and serves customers in 160 countries. GE 's culture is well defined by its mission, vision and values. This company has become recognized for its unparallel training and career development as well as for its significant organizational processes. These practices have enabled GE to provide the utmost quality while maintaining their aggressive commitment to leadership development across the world. When one hears the name General Electric, most think of Jack Welch, former CEO of GE. He became GE 's youngest Chairman and CEO in 1981, which resulted in some dramatic changes over the next five years. Welch was successful in streamlining GE; acquiring new business segments, and made the company more competitive. He motivated the managers of the businesses to become more productive than ever. He eliminated layers of management, laid off over 100,000 employees, and shut down factories. He was nicknamed "Neutron Jack" due to his ability to act like a neutron bomb that kills people but leaves the buildings intact. The results of Jack 's reign delivered extraordinary growth, increasing the market value of GE from $12 billion in 1981 to about $500 billion when he stepped down 20 years later in 2000 (Koteinikov, 2005). GE says they do not have any mission statement per se, instead GE is more focused on their business objectives and operating philosophy. The business objectives are to build a portfolio of strong businesses, create processes that generate cash, and capability to achieve organic revenue growth. GE believes consistent focus on these imperatives, backed by strong execution, which is the key to
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