General Electric Reasons Behind Success Essay

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GE- A combination of Strategy and technology

General Electric: A combination of Strategy and Technology / General Electric: Reasons behind Success

The Company Profile

General Electric's history forms a significant component of U.S. technological history. GE has progressed from the home lab of Thomas Alva Edison to become one among the world's largest corporations, through the course of electrical technology's advancement from the plainest initial applications to the 21st century's high-tech innovations and offerings. GE has a world market comprising over a hundred countries; roughly 45% of company revenues are generated from overseas operations. Through innovations spanning more than 110 years, GE has accumulated over 67,500 patents; scientists working for the organization have received Nobel Prize almost twice, in addition to several other awards for their contribution to the field (Referenceforbusiness, 2015). The company engages in manufacturing, processing, building, developing, producing, and assembling; leasing, selling, distributing and supplying; purchasing, mining, extracting, acquiring, and leasing; and owning, operating, dealing with, servicing, funding, and experimenting with materials, apparatus, equipment, devices, appliances, structures, information, intangible and tangible property, systems, processes, and services of all natures, kinds, and specifications (Referenceforbusiness, 2015). GE's mission is to invent products that matter relentlessly -- inventions that power, build, cure, and move the world. The company's offerings, required by all but made by a few, are its pride and define GE to clients and staff (Referenceforbusiness, 2015). The tool of export finance is critical for customer support; without this, the company cannot vie with foreign competition, which enjoys export credit agency (ECA) governmental funding. Company stock, which experienced a 0.6% drop in premarket trading, lost 0.5% YTD (year-to-date) on Wednesday, whereas the DJIA (Dow Jones Industrial Average) of -0.13% dropped 8.7%. GE's market capitalization is 79.08 billion dollars (Kilgore, 2015). There is a 5% boost in recent quarterly profits, facilitated by increased power division performance, which offset the weak results that were produced in the oil segment.

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GE's expected industrial operational income lies in the $1.13-$1.20 range this year, elevating the $1.10 low end (Krauskopf, 2015). With regards to growth and revenues over a twelve-month period, GE had a -102.2% earnings per share (EPS) without non-recurring items growth rate. GE's EPS was -$1.48 for fiscal year 2015's first half. GE's growth rate of earnings before interest, taxes, depreciation, and amortization was -15.6%, with -3.6% growth rate of free cash flow across a one-year span (Krauskopf, 2015). GE has seen a progressive move to services from technology, and has grown to become a conglomerate with eleven key operating units, namely: GE Energy, GE Advanced Materials, GE Transportation, GE Infrastructure, GE Consumer & Industrial, GE Healthcare, GE Equipment Services, GE Insurance, GE Consumer Finance GE Commercial Finance, and NBC Universal (GE ownership= 80%) (Referenceforbusiness, 2015). For more than a century, the keystone of GE innovation has been R&D (research and development). At present, the company has roughly 36,000 technicians who work across its global and business research units, at the industry-technology juncture, for solving the toughest issues across the globe (Referenceforbusiness, 2015).

GE and Technology

General Electric comes up with novel means to solve old issues. It has implemented JIT (just-in-time) process methodology and introduced new medicines as products. Its new processes have resulted in new products (e.g., PCs in the year 1980). The company's inventory control process has incorporated bar codes and thus upgraded the old techniques. The Company has found alternative use for DVDs and paper clips. Process changes include soil testing through satellite imagery. Mainly, GE processes are helping the company transform itself into the leading premier digital industrial organization in the world, implementing critical solutions for clients. GE's Predix software enables clients to reduce operating….....

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