Strategic History of the General Electric Company - Research Paper Example

Since then, the company has had innovations with the electric fan in 1902, electric toaster in 1905, the high-frequency alternator n 1906, which makes broadcasting possible, heating and cooking device in 1907. These have been followed by numerous innovations. Since then, there has been a number of inventions and innovations which has given the company a competitive advantage. The company has a workforce of approximately 305,000 employees with 134,000 in the US and sales revenue of approximately $147.3 billion. The company is now a diversified technology and financial services conglomerate (Forbes 2013).

The company is currently on Forbes lists in the following positions: The breath of GE’s operations has allowed it to sell its goods in more than 160 countries (GE 2003, p. 17). The company focuses its effort on things that matter by using the best people and technologies and tacking on some of the greatest challenges to find solutions in areas such as energy, health, home transportation and finance by not just using imagination but by ‘building, powering, moving and curing the world’ (GE 2003, p. 17). Over the last ten years, the company has invested in businesses that were adjacent to its original business line and so pursued opportunities that relate to the company’s core business.

Approximately one-third of the company’s revenue in the area of infrastructure is generated from new business ventures of less than ten years old, including Oil & Gas, which are considered to be fast-growing business areas. This growth can be attributed to both acquisitions as well as organic investments. A major acquisition that was started in 2012 is that of Avio - a supplier of engine parts. This acquisition is designed to help lead the way to the new generation of engines – LEAP in 2016 and GEDx later.

Additionally, it served to bring a critical aspect of the aviation supply chain in-house. The product and services offered by the company include aircraft engines, power generation, water processing, household appliances, medical imaging, financing, and industrial products. The company also holds an interest in NBC Universal businesses.