Process Improvement is critical in the many stages of the manufacturing industry. For this discussion and breakdown we will utilize the General Electric Corporation in describing certain processes it uses on a daily, quarterly and yearly basis which help it remain one of the top manufacturing and business entities of today’s world. This business analysis focuses on the General Electric Corporation and how it has achieved success, becoming a world leading industrial conglomerate. GE is one of the 12 original Dow Jones industrial entities circa 1891; and since that time the firm has grown exponentially by way of acquisitions and mergers including the manufacture and sale of its own trademark technology such as the electric light bulb and the phonograph. Along with common household appliances and electronics, some of the finest industrial innovations by GE include avionics and jet engine manufacturing, financing and energy supply. GE is also responsible for diversified medical technologies, advanced transportation, modern media and satellite communications to name some of the company’s varied interest.…
GE better known as General Electric, history dates back to 1870, but now is one of the numbers on corporation.GE also is the multinational in the country. GE starts back with locomotive engine and has work its way up to more useful thing we use every day in our everyday life. General Electric is a positive Co. who knows how to capitalize on the growth themes of the era. They believe in speed, and lowering cost. Because of the performance, they are the world most competitive company. They feel investing in infrastructure helps to competes and create jobs.GE won in the growth market, they know to do global and local. Others countries wants the same as GE, they want capabilities, and competitive to bring about jobs, pride, and progress to lift peoples spirits.…
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.…
General Electric is a unique and innovative manufacture company that started with an incandescent light bulb and from there, rocketed into one of the most successful, world-renowned company in the world. Thomas Alva Edison first established Edison General Electric Company in 1890 (General Electric, 2013). Two years later, another electrical competitor, the Thomson-Houston Company, merged with Edison General Electric to become the General Electric Company we now know today (General Electric, 2013). Manufacturing innovators in so many various products ranging from lighting to transportation, the General Electric Company has withstood over a century of economic trends, and is by far, one of the most important manufacturing companies in the world. Some of the primary and well-known products manufactured by the General Electric Company are GE appliances and large jet aircraft engines. Variance and fixed cost structures and what they mean to GE managers.…
In 1981, Jack Welch became the eight chairman and Chief Executive Officer of General Electric, and served until his retirement in September 2001. Under his leadership, Welch “increased the value of the company from $13 billion to several hundred billion” (ge.com, n.d.) What strategies led to the success of GE under the management of Jack Welch, and what does the future hold for the company?…
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.…
Thomas Edison founded General Electric in 1878. The company's early focus was on the generation, distribution, and use of electrical power to become one of the world's biggest industrial companies. It would take them one hundred years to accomplish this but they would. General Electric was always going through change all the way through the early 1900s and into the mid 1900s. To strengthen their corporate staffs they began to use "profitless growth." By 1973 General Electric had ten groups, forty six divisions, and one hundred and ninety departments. And they had forty three strategic business units that were designed to support strategic planning. Reg Jones, who was Welch's predecessor, had been voted three times by his peers as CEO of the Year.…
General Electric Company is a diversified industrial corporation with products that include jet engines, financial services, power generation equipment, medical imaging, and plastics. GE’s diversification reduces its business risk. However, the intense competition faced by its’ various businesses could undermine its market position. The company recorded revenues of $163,391 million during the fiscal year ended December 2006, an increase of 10.4% over 2005. The operating profit of the company was $43,906 million during fiscal year 2006, an increase of 16.2% over 2005. The net profit was $20,829 million in fiscal year 2006, an increase of 24.6% over 2005.…
Despite Lincoln Electric’s prosperous time, they failed during the late 1980s and early 1990s due to a variety of factors. The rapid international growth greatly decreased stockholders equity by over $80 million over a two-year period, and an even steeper drop in cash as long-term debt increased to an astonishing $217 million. This was mainly because they attempted to apply American standards in France, Australia, and Canada. This management style…
General Electric has been the cornerstone of innovation for over a century. Employing over 36,000 technologists around the world.…
The purpose of this report is to provide an analysis of GE’s revitalization efforts during the tenure of their infamous CEO Jack Welch. This detailed examination of the impact of Mr. Welch’s leadership style and the changes he implemented will be supported by our strategic recommendations aligned with our course lectures. The learning objective is to understand the evaluation of Welch’s strategy and how it impacted the company.…
Name as “Manager of the Century”, Jack Welch has made General Electric “Most Admired Company in the world”. This case, from an extensive perspective, describes us how Welch made such a legend during his two decade’s working in GE. After Welch become CEO in 1981, he initiated a series plan from structure redesign, incentive method changing, to culture building. By his continuous efforts, Welch finally delivered the world an astonishing achievement: GE has achieved average 23% annual growth during two decades, which will surly be a tempting story for us. We will wonder whether we can duplicate such a success. To answer this question, let’s unveil the secret firstly.…
Prior to year 2010, GE’s previous CEO, Jack Welch, had built GE into a highly disciplined, extremely efficient machine that delivered consistent growth in sales and earnings. However, after Immelt took over GE from Welch, Immelt recognized the necessity for strategic change in the GE when he took considering the situation of economic downturn. 9/11issue and Enron Scandal triggered a downturn in the economy, which in turn affected GE’s stock market price. Immelt saw little need to challenge the basic business model no which GE had operated for decades.…
GE, the world’s largest and most well know electricity producer and distributor had always excelled over its competition in many feats. Among them, was their ability to develop and sustain world quality managers and CEOs. What led GE to produce these talented and more than capable leaders was the amount of emphasis they drove in developing top notch management. Twelve CEOs since Thomas Edison as the inaugural leader of the company and many of them with major contributions to management development helped GE position itself to successfully maintain growth in both revenue and profit through most of the 20th century. Among those CEOs were Charles Coffin, Ralph Cordiner, Fred Borsch, Reg Jones, Jack Welch, and Jeff Immelt.…
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…