General Electric: Corporate Vision, Mission, Goals, and Strategies - Essay Example

Running Head: GENERAL ELECTRICGeneral ElectricMission StatementEven though General Electric does not seem to have a mission statement, its operating viewpoint and business aims are evidently expressed each year in the Letter to Stakeholders in the General Electric Annual Report. General Electric is a diversified technology, manufacturing and service company with a dedication to achieving global leadership in each of its thirteen main businesses. To achieve this, General Electric must have an enthusiasm for excellence and hate bureaucracy.

Vision“At General Electric (General Electric) the vision is 'We bring good things to life'.” (http://www.1000ventures.com/business_guide/crosscuttings/vision_mission_strategy.html) Values“Imagine, solve, build and lead - four bold verbs that express what it is to be part of General Electric. Their action-oriented nature says something about who we are - and should serve to energize ourselves and our teams around leading change and driving performance.” (http://www.ge.com/en/company/companyinfo/at_a_glance/ge_values.htm) A vision has always been with an organization or an individual.

But, for the past several years, there has been growing interest in the concept of organizational vision. Business leaders used organization’s vision as an element to motivation their employees. A vision must be achievable, clear, motivating, exciting and inspirational which could enable a team to focus on the future. By stating a vision, organizations create their future. A shared vision is a compelling portrait of a promised land that inspires enthusiasm and excitement in people when they come to work.

That is what distinguishes shared vision from mission, strategy, and values. The organizations mission determines what people do when they arrive at their workplace. It answers the question “why do we exist?” The organization’s strategy responds to how they will do it. Finally, values provide a critical guide for interactions and relationships with staff, peers, customers, vendors and all other stakeholders. (Lewis 1997, pg 9) General Electric’s vision statement is clear and easy to understand.

It includes: • Product or service--Indication of industry or business; • Goals for continued existence, growth, and profitability; • Company philosophy--values and beliefs; • Public image; • Responsibility to other stakeholders (including employees). General Electric’s vision statement has following characteristics or qualities that make it useful. These include: • Clear articulation--easy to understand, sections clearly laid out; • Relevant--appropriate to General Electric in terms of its history and culture; • Currency--up to date information about General Electric; • Motivation--motivating employees; • Uniqueness--not copied from other companies; • Enduring--ongoing vision; • Appropriate--adapted to target audience.

ReferencesCorporate Vision, Mission, Goals and Strategies, Traditional and New Approaches, retrieved on March 8, 2006 from http://www.1000ventures.com/business_guide/crosscuttings/vision_mission_strategy.html GE, Values, retrieved on March 8, 2006 from http://www.ge.com/en/company/companyinfo/at_a_glance/ge_values.htmLewis, C. Patrick, (1997), Building a Shared Vision. Productivity Press, Portland, Oregon.