General Electric's Ecomagination Initiative in Essay

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This would entail paying European fines for not having sustainable components in their products. Instead of just moving ahead with production and paying the charges to local and federated European Union environmental authorities, GE completely redesigned the value chain and production processes of medical products (Mitra, 2010). This became the catalyst of sustainable business development and was a key factor in the 2004 timeframe when Jeffrey Immelt began the planning of the ecoimaginaition branding initiative. This is just one of many examples corporate-wide where GE was able to capitalize on initially what appeared to be a weaknesses from a sustainability standpoint and turn it into a strength.

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Conclusion

Since the initial concept of translating their cost challenges of attaining sustainability into a profitable new business, GE has also started a $200M venture capital fund to invest in emerging new businesses in these areas. To date they have generated over 4,000 new product ideas in 100 countries through this initiative (Mitra, 2010). All of these factors point to the ecoimaginaition initiative and business development based on sustainability being an increasingly larger portion fo GE's revenue in the years ahead......

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