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In what ways has Jeff Immelt redirected the strategy of GE? These events caused slow domestic economic growth, crisis of confidence among investors and more global competitors. Due to the change in environment and the need to adapt Immelt shifted the focus of GE from Ge imagination breakthrough cutting and deal making to new products, services and markets.
He particularly focused on redirecting the strategy of GE through: He identified a number of emerging global trends - the ageing population, the demand for sustainable energy, the necessity of improved infrastructure, and opportunities in the emerging markets.
Through identifying a new growth platform, it would then be executed through a series of divestments and strategic acquisitions in sectors with high growth potential.
New technologies were seen as an essential ingredient to successful product innovation and quality improvement. GE expanded its research and development capabilities and supported them with adequate financial backing. His efforts started off with product bundling and cross selling, which eventually led to enterprise selling.
The strategic focus was on creating differentiation advantage through innovative product-service bundles and enhanced customer focus Question 2: To what extent is this strategy well aligned: This shift in the Business environment and economic instability instigated a crucial issue for Immelt, which was to identify the likely sources of profit for the future.
Under Jack Welch the potential for value creation through cost reduction and the elimination of under performing assets had mostly been completely utilized. With the poor state that the world economy was in, the central challenge for Immelt was going to be identifying where the most promising opportunities for profitable growth would lie.
He identified a number of key significant emerging global trends—the ageing population, the conflicting forces of growing energy demand and concerns over global warming, the advent of biosciences in conjunction with global Ge imagination breakthrough and nanotechnology, and new commercial opportunities in the emerging markets.
In order for GE to position itself for stronger growth in the changing business environment, Immelt saw the need to exit form slow growth business, and reallocate its resources where growth prospects were strong, taking advantage of the emerging global trends.
Even though Immelts core focus was on organic growth, repositioning to take advantage of the emerging market trends and opportunities would require acquisition.
Then once a new Growth Platform was identified, GE would build a leading position in those sectors through small strategic acquisitions and the deployment of its financial, technical and managerial resources. GE was entering a new generational era, one where technology is at the forefront of growth and adaptation.
Within this new business environment that GE was facing, customers needs, wants and expectations of what products can offer them is forever changing.
Immelt saw and understood this from the amount of time spent with customers, and implemented this idea within GE through the IT redesign process becoming increasingly customer focused. Also by increasing customer orientated products, this would also help GE to increase its success in international markets by involving more local product development and emphasis on truly aligning products and services to meet local market needs.
Over the decades GE has successfully adapted both its business portfolio and its management systems to the demands and opportunities of the ever-changing business Environment.
2/ GE / 09/18/ 3 GE Company Proprietary Making growth a process Imagination Breakthroughs CECOR framework Execute for Growth Lean Six Sigma Net Promoter Score. GENERAL ELECTRIC (GE) IMAGINATION BREAKTHROUGH: THE EVO PROJECT PRESENTATION 1. Where would you place GE on an organisation life-cycle chart as Immelt became C. Jan 29, · This post was co-authored with Anna Chavis and Jace Moreno, MBA students, Fuqua School of Business, Duke University. At a recent roundtable discussion at Fortune’s Most Powerful Women Summit.
Immelts emphasis on technology reflected his belief and the Belief intrinsic to GE which is that the primary driver of sales is great products. For example, GE is the only US-based company with all the necessary capabilities to build a nuclear power plant.
What organizational changes has the new strategy necessitated? Will GE be able to successfully execute the strategy? GE divisions were reorganized into a smaller number of broad based sectors. Bythere were 5 sectors and each of them focused on broad markets, in which they had a scale, market leadership, and superior customer offerings.
Through regrouping the various businesses into their markets it would be easier to identify the various connections between the businesses. The key initiative of the six part growth process in terms of marketing and sales were introduced, there were increasingly many metrics driven analysis on customer satisfaction and attitudes.
This whole phase of becoming a customer focus business instead of an operating efficient one demanded the managers to become less of an operator and more of a marketer. Developing these opportunities required high levels of coordination across multiple organizational units.
Other issues arose through the organizational changes necessitated through the new strategy. Also through placing heavy emphasis on customer focus this caused the sales and marketing department to put less focus on particular business and just look at opportunities that they can exploit this can be seen from the example of GE medical systems.
Through constantly acquiring new businesses to further fuel growth in technology and the energy sector this has made the organizational structure even more complex.
Focussing on customers and enterprise selling requires a simple structure. It can be seen that if Immelt wants to successfully implement his strategies he needs to find a solution to change the organizational structure to mitigate the complexity of it, while being able to acquire new businesses for growth.
Whether Immelt can execute these strategies due to these organizational issues are discussed in the further sections of this essay.
Are there alternatives corporate strategies that GE should consider — break up in particular? We believe that Immelts strategy will be successful and recommend that he continue to pursue his strategy of greater emphasis on technology, customer focus and increased integration. To reduce organizational complexity GE should also introduce competitive based pay which will link to all levels of employers from base workers to managers.
This is to encourage collaboration through all levels of the employment ladder both vertically and horizontally.Robin Sharma is one of world’s top leadership experts.
He has sold more than 15 million books across 96+ nations, including the #1 bestsellers The Monk Who Sold His Ferrari and The Leader Who Had No Title. Sociological Imagination Nicole Badders Galen College of Nursing Professor Sanjay Sociological Imagination Social Imagination is defined as the ability to connect the most basic, intimate aspects of an individual’s life to seemingly impersonal and remote historical forces (Conley, , 5).
Oversaw marketing and sales development, and was responsible for cross-business growth programs, including GE's ecomagination environmental program and the Imagination Breakthrough innovation Title: Author.
GE Healthcare imagination at work Accomplish more. LOGIQ 7. GE Healthcare is re-imagining ultrasound to bring you breakthroughs to make your job easier – and ultimately change the way ultrasound happens.
General Electric Company reserves the right to make.
As these examples show, a management breakthrough can deliver a potent advantage to the innovating company and produce a seismic shift in industry leadership.
GENERAL ELECTRIC (GE) IMAGINATION BREAKTHROUGH: THE EVO PROJECT PRESENTATION 1. Where would you place GE on an organisation life-cycle chart as Immelt became C.