Strategies for Competitive Advantage
Environmental Analysis Paper
"A host of external factors influence a firm's choice of direction and action and, ultimately, its organizational structure and internal processes" (Pearce and Robinson, 2004). These factors are the basis for the forces and trends research. This essay presents the research on forces and trends as they affect specific businesses. This research will allow businesses to identify not only forces and trends, but also challenges and opportunities.
In the energy/utility industry, technological forces and trends are important factors to identify and understand. This may include creative technological adaptations or technological breakthroughs. The competitive climate is characterized by changing technology that requires continued research and development. "Creative technological adaptations can suggest possibilities for new products, for improvements in existing products, or in manufacturing and marketing techniques" (Pearce and Robinson, 2004). The ability to notice trends early has provided the competitive edge for General Electric. Rising costs for energy, water, global warming and greening, trends bring concerns to General Electric. They realize issues regarding energy efficiency policies and emission standards need to be addressed. The world's energy market is changing. To meet the challenges, technology will pay a huge role for GE. Breakthroughs in renewable energy, fuel cells, nuclear energy and coal gasification will have a tremendous impact on the environment and GE customers. Ecomagination is GE's commitment to address challenges such as the need for cleaner, more efficient sources of energy, reduced emissions, and abundant sources of clean water. It is GE's commitment to help their customers and society at-large solve environmental challenges and drive future growth for their company...