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Cross-Culture Management: the Case of General Electric in India - Assignment Example

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The reporter describes General Electric (GE) as generally considered and as one of the most successful organizations in the world. Throughout the company’s history, it has been linked to almost uninterrupted growth and stable profitability (Grant 2004)…
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Cross-Culture Management: the Case of General Electric in India
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Download file to see previous pages it developed into not just the most diversified and largest company in the United States, but a ‘model of management—a laboratory studied by business schools and raided by other companies seeking skilled executives’ (Grant 2004, 337). Under the leadership of Jack Welch, the reputation of GE improved.
Fortune magazine declared the company as the ‘most admired company’ in America in 2001, and the Financial Times recognized it as the ‘world’s most respected company’ for four successive years (Grant 2004, 337). General Electric is not only one of the largest corporations in the world; it is also the most diverse. The capability of GE to flourish as a widely diversified company was one of the marvels of the corporate world (Dobson, Starkey & Richards 2004). Diversified organizations, since the 1990s, had been negatively affected by the ‘conglomerate discount’, or the ‘capital markets had capitalized their earnings at lower multiples than for single-business companies’ (Grant 2004, 338). The single available way out was to restructure or disintegrate. For GE this did not arise; the notable financial performance of GE was in a sense that it had never experienced pressure to develop individual enterprises or break up itself entirely.
As underlined by Jeffrey Immelt, the current CEO of GE, it was the combination of various enterprises with their distinct cyclical features that enabled GE to maintain the growth of its earnings (Grant 2004):
We have four strong, powerful long cycle businesses: Power, Medical, Engines, and Transportation. These businesses are strong, number one, with multiple levers to grow earnings through technology and services (ibid, p. 337).
Nevertheless, for all the stress on the corresponding performance features of the various businesses of GE, it was also evident that there were marked distinctions in terms of profitability and growth (Grant 2004).
The adjustments in the portfolio revolutionized GE’s product-market reputation and enhanced its growth opportunity.  ...Download file to see next pagesRead More
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