Ge Globalization Strategies: Close Analysis
GE Globalization Strategies
Close Analysis
Global Management: D1125
Overview
This report talks about the successful strategies adopted by GE that was accountable for its success. It will start by answering the question the importance of studying GE recent globalization strategies and practices, and then, by giving a quick background of the company globalization process evolution. After that, the report will demonstrate a close analysis to 4 main strategies of the company. Finally a conclusion will be given based upon the current challenges and future perspective.
Company Highlights
GE was found by Thomas Edison in 1893. It has around 343,000 employees and operation over 100 countries. The company experienced continuous growth during the last 15 years in many different aspects, and currently it is known with a wide market diversification to include industry infrastructure, industry, healthcare, financial services, entertainment and media. The company is featured in many different dimensions. According to Forbes Global 2000 ranking, GE is the largest company in the world in terms of unit sales (Forbes, April 2009), as well as number one in the list of “Most Admired Companies in America” and in the whole world (Fortune 2006). In addition to that, globally, GE brand is considered to be the fourth in most recognized brands (BusinessWeek 2009).
Importance of the Study
From the few facts mentioned above, I believe that it’s important to study this business leader’s successful strategies for two main reasons:
1- To study how GE strategies and initiative distinguished player in the business world
2- The consequences of these strategies won’t only influence the success of GE, but it will also act as a road map encouraging many other companies to catch up with this new business model of competition.
GE Globalization Process
Since post 9/11 attacks, the world experienced some drastic changes that influenced the nature of the market environment.
Close Analysis
Global Management: D1125
Overview
This report talks about the successful strategies adopted by GE that was accountable for its success. It will start by answering the question the importance of studying GE recent globalization strategies and practices, and then, by giving a quick background of the company globalization process evolution. After that, the report will demonstrate a close analysis to 4 main strategies of the company. Finally a conclusion will be given based upon the current challenges and future perspective.
Company Highlights
GE was found by Thomas Edison in 1893. It has around 343,000 employees and operation over 100 countries. The company experienced continuous growth during the last 15 years in many different aspects, and currently it is known with a wide market diversification to include industry infrastructure, industry, healthcare, financial services, entertainment and media. The company is featured in many different dimensions. According to Forbes Global 2000 ranking, GE is the largest company in the world in terms of unit sales (Forbes, April 2009), as well as number one in the list of “Most Admired Companies in America” and in the whole world (Fortune 2006). In addition to that, globally, GE brand is considered to be the fourth in most recognized brands (BusinessWeek 2009).
Importance of the Study
From the few facts mentioned above, I believe that it’s important to study this business leader’s successful strategies for two main reasons:
1- To study how GE strategies and initiative distinguished player in the business world
2- The consequences of these strategies won’t only influence the success of GE, but it will also act as a road map encouraging many other companies to catch up with this new business model of competition.
GE Globalization Process
Since post 9/11 attacks, the world experienced some drastic changes that influenced the nature of the market environment.
References: 2. Forbres.com, (April 2009) Global 2000,. , 3. Fortune Survey, (2006) 4. Best Global Brands (2009), Business Week, 5. “Most Admired Companies”, (Mar 6 2006) Fortune Magazine 6. Geoffrey Colvin (Mar 6 2006)“What Makes GE Great ?” Fortune Magazine 7. Tom Stewart, (Jun 2006) “Growth as a Process”, and Interview with Jeffery R 8. Dan Henson, (Feb 2007) “Growth as a Process” Lehman Brothers Conference, 9. Eric Auchard, “Globalization is a tough sell, Immelt Says”, Reuters.com (Jul 7, 2007), 10. Nelson Hoffman, (Jan 24 2008) “Reflections on GE Global Strategy”, Manufacturing and Technology News, 11. John Rice, (Feb 12 2009) ”Tackling Global Problems with Local Solutions” GE Reports 12. Vijay Govindarajan (Mar 11 2009), “Winning Micro Customer in Mega Markets”, GE Reports < http://www.gereports.com/winning-micro-customers-in-mega-markets/> 13. Jeffery Immelt et al, (Oct 2009)“How GE is Disrupting itself”, Harvard Business Review, 14. Pankaj Ghemawat. (November 10, 2003) “Globalization: The Strategy of Differences”, Harvard Business Review. < http://hbswk.hbs.edu/item/3773.html> 15. Oil prices chart 2003-2008, US Department of Energy