Ge Imagination Breakthrough

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Topics: Innovation
GE Imagination Breakthrough

Q : 1 What is your evaluation of Immelt’s new organic growth strategy? Why change GE’s existing successful strategy? Is it reasonable to expect that a $125 billion global giant can significantly and consistently outperform the underlying economic growth rate?

What is your evaluation of Immelt’s new organic growth strategy?
Answer: Immet’s new organic growth strategy is made up of following elements: * Technical Leadership – Immelt identified technology as a key driver of GE’s future growth and emphasized the need to speed up the diffusion of new technologies within GE and turn the corporate R&D into an intellectual house. * Internationalization – GE’s major opportunities for organic growth would be in its overseas operations-particularly in China, India and Europe. * Services Acceleration – Take more of the back room resources and put them in the front room-more sales people, more engineers, and more product designers. * Commercial Excellence – Shifting focus from GE’s internal processes to external customer requirements. * Growth Strategy – Build new businesses based on high-growth and high-margin areas that will provide “unstoppable” opportunities and expand GE’s base. * It was long term growth strategy of building internal capacities. * Governing new technology and enter into market where is least competition. * Instead of going for acquisition and paying premium, Immet preferred to build the in-house capability which will result in lower cost. * Focus attention to marketplace, on customers & to bring in commercially oriented perspective to its decision making approach. * Driving for growth using new platform, new processes * Aligning management by creating new people profile, generating growth leaders. * Imagination Breakthroughs (IBs) were identified as large projects or business opportunities that had the potential to generate at least $100 million in earnings

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