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Therefore, the aim of this report is to analyze international process at GE and the lessons which the globalization at GE has provided to entrepreneurs and managers. The current Chairman and Chief Executive Officer of GE is Jeffrey Immelt. Moreover, GE has presence in 160 countries of the world and total number of employed people at GE on December 2009 was 304,000. The company holds 2370 filed patents and in 2009, total $5.2 billion were spent in Research and Development (General Electric, 2010). This shows that GE is investing huge amount on its research and development.
The company is offering a huge product range and services. Currently, GE is offering products and services related to Appliances, Aviation, Consumer Products, Electrical Distribution, Energy Products, Finance and Business Products, Health Care, Lighting, Media and Entertainment, Oil & Gas, Rail, Software & Services and Water (General Electric, 2010).
The major reason because of which GE invested aggressively in foreign expansion was the primary aim of existence of the organization. All leaders of the company have been envisioning huge goals for GE. GE adopted a huge international diversification strategy as it is evident from electronic products to financial services and television broadcasting. GE goal was to become number one or two globally in all the businesses in which it was participating and to attain this goal, foreign direct investment strategy was adopted. After pursuing international expansion strategy, the second aim was to make GE a truly global company because it was still very much an American company doing business abroad. For example, domestic revenues were still higher than international revenues. To make GE a truly global company, Immelt focused on shifting centre of gravity and brought changes in the way GE was organized and operated. For example company moved its headquarters in 2008 for GE Money to London. Another
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The evolution of quality management has led to prominence of quality improvement methodologies, such as ISO 9001, Lean Production, Six Sigma, Business Process Reengineer, Business Excellence framework, and Total Quality Management (TQM). Quality management can be conceived to incorporate four critical factors; quality planning, quality assurance, quality control, and quality improvement (Hill and Jones 2010, p.3).
Today’s information advances and the globalized economy have deeply and permanently reshaped the economic, educational, political, and social setting of the world. The once limited, slow, and conservative tempo of societal transformation has now become borderless, fast, and far-reaching.
The company was founded by Thomas Edison, a genius in its own right with numerous patents in his fold. With true entrepreneurial spirit, the company spearheaded multi dimensional growth and development in myriad of fields. Products and Industries: GE has a varied and highly diversified product list starting from Lighting, Consumer Electronics, Appliances, Aviation, Health Care, Media, Entertainment, Energy, Finance, Water Business and many more.
TQM TQM (Total Quality Management) is “a management approach that tries to achieve and sustain long term organizational success by encouraging employee feedback and participation, satisfying customer needs and expectations, respecting social values and beliefs and obeying governmental statutes and regulations” (Charantimath, 2003).
By the end of 1890 the company named after Thomas Edison was successfully running to produce electric bulbs wherein in 1892 the company merged with another company, Thomas-Houston, to help form the modern General Electric Company. The modern business still holds the legacy of Thomas Edison in its several electrical products and services.
It further has been credited with implementing up-to-date technologies in environmental management.
Market share is no longer the only focus of a large corporation. In the area of supply chain management, some companies are surpassing slower rivals and are establishing positions of dominance by collaborating with carefully chosen trading partners.
Later on, Thomas Alva Edison became the sole inventor of glowing electrical lantern (History of GE, Official Website).
Edison, then, prearranged his variety of firms and joined them into one 'the Edison General Electric Company' in the year 1890. Later on, several other electrical companies joined their hands together and merged into each other while being led by Charles A.
General Electric is one of the most prominent companies that has been the forefront runner in their market for many years. This prodigious company was initiated by a brilliant man known as Thomas Edison in
The company’s initial business offerings included: lighting, transportation, industrial products, power transmission and medical equipment. It included a number of innovations including the incandescent lamp, the dynamo which converts mechanical energy
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