General Electric Financial Problems to Measure by Balance Score to Improve Ge Financial, Customer, Internal Processes, and People/ Innovation/Growth Assets.

Topics: Balanced scorecard, Strategic management Pages: 2 (665 words) Published: March 3, 2013
Under CEO, Jeffrey Immelt leadership and cultural integration GE is committed to achieving worldwide leadership in each of its businesses. To achieve that leadership, GE's ongoing business strategy centers on five key growth initiatives: Technical Leadership; Services; Customer Focus; Growth Platforms; and Globalization. GE is committed to leadership in the "next generation" of technology. It's well-positioned to drive growth for the future with technical excellence in each business by developing a global technical capability, increasing new product growth, and investing in global research. GE services have grown from the traditional activities of parts replacement, overhauling and reconditioning machines to a larger and broader vision. The new vision includes investing in business and technology to improve the performance on its installed base and the way it actually services it. Through higher technology, it has the ability to go beyond servicing to reengineering the installed base. By doing so, it dramatically improved its customers' competitive positions. GE is in the midst of an incredible transformation brought on by the Internet explosion. Its pursuit of digitization will rapidly change its dealings with vendors, partners, and most of all, its customers. GE is using the integrated systems between Six Siqma and the International Quality Management System which adopted by TQM to keep on enhancing GE’s customer. GE’s Customer Focus is ensuring that everything it does provides value to our customers. It means creating a partnership that - combined with expertise in financial, service and technology industries - maximizes customer profitability and ensures quality. A key GE strength is the ability to conceptualize the future, identify "unstoppable" trends and develop new ways to grow. Growth is the initiative, the core competency in building at GE. The challenge is to coordinate the activities of these units and leverage their skills for the benefit of the...
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