Question 1: In what ways has Jeff Immelt redirected the strategy of GE? In 2001‚ shortly after Jeff Immelt became the CEO of GE‚ a series of events changed and impacted the corporate landscape. The immediate challenges that he faced included 9/11‚ and a subsequent series of high profile corporate scandals (Enron‚ WorldCom). In 2008‚ the financial crisis hit and had a severe impact on GE’s primary growth source‚ GE Capital causing it to accumulate bad debts and asset write-downs. These events caused
Premium Innovation Economics Strategic management
If Scientific Management is as outdated and inhuman as many organizational theorists believe‚ why is it so prevalent in contemporary organizations? Raymond Leung 1 Introduction Scientific management was first developed by an American‚ Frederick Winslow Taylor in the1880s ~1910s and has evolved a lot since then. It is a theory or school of thoughts about process improvement and management. It aims at maximizing efficiency‚ productivity‚ output with least cost and minimizing wastes. It was
Premium Management Scientific method Sociology
The Application of Scientific Management in Today’s Organisations INTRODUCTION “The principle object of management should be to secure maximum prosperity for the employer‚ coupled with the maximum prosperity for the employee…” (Taylor‚ 1911‚ p.9) With those evocative words‚ Frederick W. Taylor had begun his highly influential book; “The Principles of Scientific Management” indicating his view regarding management practices. As one of the most influential management theorists‚ Taylor is
Premium Management Scientific management
"How management manages and leads employees has changed dramatically over preceding decades and will continue to evolve in the future" Introduction Every manager is different in their approach to managing staff and in modern day society leadership is becoming a more vital aspect of management. The business sector in today’s society is increasing rapidly‚ and with this increase comes the need for more people to manage and lead the growing companies. This essay will embark on the evolution of management
Premium Management
(capital) is important to become rich. We somehow started to grasp the idea that it is not own effort and talent but how much wealth we own from the beginning decides our wealth. This feeling is proven by Piketty in his book ‘Capital in the twenty first century’. Piketty divides income in two‚ the wage and the capital. Then‚ explains how each plays role in inequality. The large gap in wage includes political reasons. Capital includes both natural and political reason. Accumulated capital
Premium Economic inequality Wealth Working class
What is globalization‚ and is it a positive force for good in the 21st century. It is hard to define globalization and seems “easier to describe than to define” (Kiggundu‚ 2002:3). “Globalization has become‚ the most important economic‚ political‚ and cultural phenomenon of our time. Around the globe the integration of the world economy is not only reshaping business but also reordering the lives of individuals‚ creating new social classes‚ different jobs‚ unimaginable wealth‚ and‚ occasionally
Premium Developed country International Monetary Fund World Bank
Ratan Tata: Leading the Tata Group into the 21st Century 1. The Tata Group has been transformed from a risk-averse‚ slow-moving giant into a more dynamic and aggressive conglomerate. How much of such a transformation can be attributed to one individual? Discuss the role of the leader in initiating and managing change. Answer The Tata Group transformation can be greatly attributed to the vision and execution of Ratan Tata. He was greatly responsible for the tremendous transformation because he
Premium Tata Group Retirement Leadership
word count: 2 316 Discuss the ‘people skills’ or ‘soft skills’ required in the 21 st century managers’ essential toolkit. This essay offers a suggestion of changes that occurred in the business environment of the 21st century and what they were driven by. It looks at why managerial ’soft ’ skills gain more attention nowadays and provides challenges modern managers might face in the near future. It then offers various personal qualities a successful manager should possess in order to be
Premium Management Soft skills Employment
In the articles‚ “Super Disasters of the 21st century” by Sebastian Junger and “The Perfect Storm”by ‚ the authors use different strategies and techniques to show the damages and effects natural disasters can cause. Likewise to each other‚ both articles use data and numbers/charts to explain the storm and the effects of it. “Super Disaster Of the 21st century” by Adams and Kostel‚ uses data to explain the hurricanes‚ tsunamis and earthquakes. For example‚ “At least 1‚800 people died. Hundreds of
Premium Tropical cyclone Weather Hurricane Katrina
With the development of mining machinery industry‚ this industry of our country has made a big progress. In addition‚ we have talked about something about the development of cone crusher in 19th century. And are you interested in its development in 21st century? HP series crusher instead of the original spring cone crusher (http://www.chinaquarry.com/products_show/cone_crusher.html)‚ the use effect is satisfied‚ can basically meet the needs of ’more crushing less grinding’ technological requirements
Premium Mining Iron ore Yangtze River