General Electric Co.v - Research Paper Example

Coffin, an ex-shoe manufacturer from Lynn, Massachusetts (History of GE, Official Website). By forming these mergers, these individual small companies joined their forces together and formed a network of individually owned patent rights of various use. Thus, an expanded business turned into an opportunity for the merger of two large companies. Hence, the two large companies joined their hands together and merged into a single and largest company, The General Electric Company, in 1892 (History of GE, Official Website).

The General Electric of today has far changed and transformed itself into the market leader throughout the world; yet it offers some of the technologies that Edison had invented in late nineteenth century (History of GE, Official Website).. These technologies include heating devices, lighting devices, cooking devices, etc. It was later in the second decade of twentieth century when GE started working on developing aircraft engines after getting collaboration with United States' government. From cooking devices to the aircraft engines, General Electric has acquired a grand brand portfolio and this has happened only because of the innovative leadership that the company has always had since its birth.

This strong, multidirectional, and diversified brand portfolio has helped General Electric become financially stronger by reducing the operational costs while permitting the overall organization to benefit from prospects. Business Summary:Although it has been reported in the previous section that General Electric is one of the largest diversified engineering company, estimation of diversification of its catering for multiple sectors of industrial areas can be found out by looking at its industrial brand portfolio which includes, jet engines, turboprop and turbo shaft engines, and related replacement parts for use in military and commercial aircraft; wind turbines; aircraft engine derivatives; gas and steam turbines, and generators; oil and natural gas compressors and turbines; diesel-electric locomotives and parts; and productivity solutions for industrial and municipal water systems (Yahoo Finance, General Electric Co.

Company Profile). Apart from these industrial equipments, General Electric has entered and is doing business in other sectors of the economy such as financial sector, energy sector, etc. Along with producing industrial equipments, General electric also provides financial loans, leases and other financial services to manufacturers, dispensers, and end-users for a variety of equipment and capital assets (Yahoo Finance, General Electric Co. Company Profile). Not only this, but General Electric's financial services provide financial services to end-use customers and retail dealers, such as credit cards, loans, mortgages, deposit and savings products, and other products (Yahoo Finance, General Electric Co.

Company Profile).General electric also serves in Healthcare segment of the industry and engineers medical and surgical equipment for magnetic resonance, computed tomography, positron emission tomography imaging, X-ray, patient monitoring, diagnostic cardiology, nuclear imaging, ultrasound, bone densitometry, anesthesiology and oxygen therapy, and neonatal and critical care and therapy. Apart of these financial, industrial, and healthcare sectors, General Electric