Jack Welch & General Electric
TABLE OF CONTENTS
* What is organization structure
* Traditional Organizational Structure
* New Design Options
* What major forces shape an organization’s structure
* What causes change
* Approaches to manage change
* Resistance to change
* Contemporary change issues for today’s managers
About the Tata Group
* Leadership with trust
* Promoter Holding Companies
* Tata Consultancy Services
GENERAL ELECTRIC & JACK WELCH
A General Electric company or GE is an American multinational conglomerate corporation incorporated in Schenectady, New York and headquartered in Fairfield, Connecticut, United States. The company operates through four segments: A. Energy
D.Consumer & Industrial.
Jeffrey Immelt is the current chairman of the board and chief executive officer of GE. He was selected by GE's Board of Directors in 2000 to replace John Francis Welch Jr. (Jack Welch) following his retirement. Previously, Immelt had headed GE's Medical Systems division (now GE Healthcare) as its President and CEO. General Electric is a large diversified industrial and financial company, whose major product lines include : i.Appliances
General Electric was incorporated in 1892 as a combination of three existing companies, one of them founded and run by the inventor Thomas Edison. It was an original member of the Dow – in fact, the only one still in existence.
Case Study Presented For Analysis – GE and Jack Welch
Jack Welch and General Electric developed cult-like followings on Wall Street, culminating in a $7.1 million book deal (Jack: Straight from the Gut, published in 2001). During his 20-plus-year tenure, GE enjoyed enormous financial success and its methods were imitated worldwide. But what made GE so successful under Welch? How has it managed to excel in such a wide range of businesses? History
General Electric is a large diversified industrial and financial company, whose major product lines include appliances, lighting products, aircraft engines, plastics, power systems, medical imaging, broadcasting, and a wide range of financial services (consumer finance, leasing, private equity, credit cards, and so on). See Exhibit 1. In 2000, GE employed 223,000 people in over one hundred countries and reported net earnings of $13b on revenue of $130b. General Electric was incorporated in 1892 as a combination of three existing companies, one of them founded and run by the inventor Thomas Edison. It was an original member of the Dow – in fact, the only one still in existence. Over the years, it has been wildly successful, reinventing itself as time and markets changed. James Surowiecki (New Yorker, December 18, 2000) notes:
In the twentieth century, GE was the industrial equivalent of the New York Yankees. Regardless of who ran the team, it just kept on winning. … Charles Coffin kept GE afloat during one of the worst depressions in American history. [H]e essentially created the country’s electricity infrastructure and outmaneuvered a competitor, Westinghouse, whose technology was superior early on. Gerald Swope and Owen Young reinvented GE as a consumer-goods powerhouse, then had to find a way to make money during the Great Depression. Ralph Cordiner made GE a space-age giant and masterminded its widely imitated decentralization. Welch
In December 1980, Jack Welch was announced as the successor to Reginald Jones, himself a highly regarded executive, after an...