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120 Piyush Gupta 165 Hershal Vyas 147 SAK Rajesh 160 Rishabh Thakrar 103 Abhinav Agarwal
GE
Headquarters Fairfield, Connecticut, U.S. Revenue: US$ 182.515 billion (2008) Net income: US$ 17.410 billion (2008) Total assets: US$ 797.769 billion (2008) Employees: 323,000 (2008) CEO & Chairman Jeffrey R. Immelt Lines of business: Aviation, Jet engines, Electricity, Entertainment, Finance, Gas turbines, Generation, Industrial Automation, Lighting, Medical imaging equipment, Medical technology, Health informatics, Electric motors, Locomotives, Wind turbines, TV motion pictures
Committed $100 million to upgrade GEs major R&D facility in New York, in keeping with his focus on innovation. Emphasis on long term research even though they might not give results for a decade or more. Expanded into developing countries like India(Bangalore) and China(Shanghai)
To counter the post-Enron criticism, took steps to make GE more transparent and open. Higher weightage given to corporate responsibility
Rebalancing Portfolio
Acquired Universal entertainment from Vivendi to supplement NBC and to add strength to GEs core business. Acquired Amersham, a life sciences and medical diagnostic company. Difficult to dispose of unprofitable assets insurance, motors, super adhesives. Immelt demarcated GE portfolio into two parts
Growth Engines: Businesses expected to grow at 15% through business cycles Cash Generators: mature businesses cyclical in nature but having strong cash flows
Other high growth areas like biosciences(Amersham), Film(Universal), renewable energy, coal gasification were added to upgrade the GE business portfolio. Acknowledging the importance of people in meeting GEs targets, the company began specifically training a generation of growth leaders people with customer touch and technical knowledge.
Imagination Breakthroughs
Immelt launched this process to drive home his earlier emphasis on growth platforms and innovation. These were projects that had the potential to generate at least $100 million in incremental earnings over a three year period. These projects could be technological innovations, market expansion opportunities or product commercialization proposals Each business leader was to submit atleast three breakthrough proposals each year for review by the Commercial Council Immelt had assigned the best talent to drive this program and each of the IB ideas was free from budgetary constraints. By doing so, Immelt was compulsorily forcing business leaders to come up with innovative products. IBs were expected to deliver $25 billion in additional revenue over a three year period.
Internationalization
By 2004, revenues from outside US reached $72 billion, $21 billion of which came from developing countries. The IB program started generating ideas about improving GE business in developing nations. One example of this is a plan that involved shipping unassembled locomotives to India and China, where they would be assembled in local factories. This plan was expected to generate $100 million in sales. The One GE initiative involved creating vertical teams that aimed at providing a complete range of products and services from energy, security, lighting and health care products.
Reorganization
GE reorganized its 11 businesses into 6 large units that would offer one stop shopping for customers These units were:
GE Industrial GE Commercial Finance NBC Universal GE Health Care GE Consumer Finance GE Infrastructure
In addition to cutting costs, the reorganization was mainly intended to better align the businesses with customer and market needs. Moreover the reorganization was focused on giving younger growth leaders more freedom to run the business. All in all, the Growth Strategy of GE as envisaged by Jeffrey Immelt incorporated all the major aspects of the business Operations, People, Technology and Culture.
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