General Electric Presentation
On September 7th, 2001, Jeff Immelt, now a 24-year veteran of GE, was appointed Chairman. Four days later, the world changed forever.
Over the past twenty minutes we have given you a window into the world of GE under Jack Welch, and now I would like to take you through the past 5 years, and into the new GE under Jeff Immelt, GEs 9th Chairman in its 128 year history.
I am sure that everyone has read the recent Fortune article entitled "Tearing up the Jack Welch Playbook," and I would like to offer our own interpretation of Welch and Immelt's executive leadership styles through a comparison of the two leaders and how they traveled two roads, both with a single destination, both requiring different vehicles
…show more content…
Strategy As such, Immelt has turned to GE's core customers for actual product / R&D ideas during what he has coined "dreaming sessions." Given the rate at which new products are being developed, Immelt is out to truly find uncontested markets, via the feedback and input from those who use them. These are Blue Oceans (mention book reference) where companies are not competing, spilling one another's blood to make an existing product better. Rather, the strategy employed here is to really listen to your customers and then take their needs, desires, and input back to your team so that the "dreams" can then turn into a reality that is both refined and …show more content…
I am sure that everyone has read the recent Fortune article entitled "Tearing up the Jack Welch Playbook," and I would like to offer our own interpretation of Welch and Immelt's executive leadership styles through a comparison of the two leaders and how they traveled two roads, both with a single destination, both requiring different vehicles to get there.
I. Growth Immelt, after seeing his company's earnings follow the unfavorable trends post 09-11, truly entered the CEO position during a time of global economic transition. The entire world (not just the business world) was experiencing a shift in thinking towards personal responsibility. More importantly, the people had finally caught up with the practices, and companies could no longer get ahead by having a lean process, or by understanding how to manufacture more effectively than their competition. Immelt has recognized that in order to succeed in today's environment, you need to understand what your customers need and where those products will be most successful in both new and existing
Since its founding in 1908, General Motors has solidified its reputation as a top tier automaker CITE. GM was the global leader in vehicle sales from 1931-2007; 77 consecutive years CITE. As of 2014, GM is the third largest automaker in the world CITE. Their vehicle lineup is very comprehensive. From the compact hatchback Chevy Sonic, to the heavy duty GMC Sierra 3500, GM has just about every vehicle class covered in both the consumer and professional segments. GM’s American brands include Chevrolet, Buick, GMC, and Cadillac. Recently, GM named Mary Barra CEO following Dan Akerson’s resignation. Mary is the first female CEO of a major automaker CITE. Mary’s picture graced the cover of Time Magazine’s 100 most influential people in 2014 for her handling of GM’s controversial ignition recall.
Kroger CEOs, Past and Present. (2012). SN: Supermarket News, Vol. 60(49), p24. Retrieved from http://search.ebscohost.com.southuniversity.libproxy.edmc.edu/login.aspx?direct=true&db=bth&AN=84011728&site=ehost-live&scope=site
At the July Association of the United States Army (AUSA) Conference, LTG Ostrowski, the Army Acquisition Executive Lead, conveyed the Army’s need for future network solutions. It was also shared in the FY16 Presidential Budget that the Army has several budget requests for Communications systems and upgrades totally over $1.2B (Keller, J. , 2015). This is an opportunity for the Comms BU to expand its customer base in the U.S. Army market place. Northrop Grumman was ranked in the Top 5 of Aerospace and Defense Companies in Forbes America’s Best Employers list (2017). They were ranked over larger companies such as Boeing, Lockheed Martin and Raytheon. Their commitment to their employees, diversity, their customer and even the environment drives their culture. Northrop Grumman’s competitive advantage is leveraging the technology already developed and tested for the services (Air Force and Navy). Their experience with the Army is via services work where our people have gained the expertise to be the right people for working with the Missile Defense Agency. After analyzing both the internal and external environment of Northrop, their competitors and the analysis of their financial position, Northrop has developed a sustainable competitive advantage. They have done this through the use of product differentiation. The value they receive, the knowledge they gain and patents they own by acquiring other companies expands their portfolio to offer products and services not comparable to their competitors. Their respective strategic position establishes a value to their customers that is differentiated amongst their competitors, allowing them to offer a higher premium for their products and
Mr. Nardelli joined GE in 1971 as an entry-level manufacturing engineer. By 1995, he had risen to president and CEO of GE Power Systems, also having the title of GE senior vice president. In 2000 he left GE, and about 10 minutes after leaving he received a job offer from a member of the board of Home Depot.
It is important in today’s changing economy that business leaders are not afraid to make necessary changes to succeed. When Jack Welch became CEO of General Electric in 1981, it was a lethargic business, satisfied with its output and entangled in bureaucracy. He understood the competition that overseas markets presented and the need for a new global strategic plan. He was able to envision the true potential of his resources and implemented drastic changes such as the Stretch, Work-Out, and Number One, Number Two business concepts (which will be discussed later) to achieve his goals.
General Electric Corporation is a multi-billion dollar conglomerate founded in 1892. The company was founded in Schenectady, New York to capitalize on the patents of Thomas Edison and the use of electric power through generation and distribution. Now a blue chip publicly traded company that has branched out beyond its core into arenas such as aircraft engineering, television, and home appliances to name a few. Over the years the corporation has been through different management models that have brought innovation in many forms that have allowed them to be envied by companies around the world. Despite great success since its conception, like many companies who can withstand the test of times, it’s natural for them to become self-absorbed, which can have a negative impact on the company structure as a whole. Coming across someone like Jack Welch who can think out of the box and in a manner that doesn’t strain the resources of the company but expands the thinking of the company as a collective unit is needed to continue the legacy of innovation in all aspects of business.
Everyone talked about our CEO Mr. Arthur T. Demoulas. I was fortunate enough to meet him the first year I worked there. It was Christmas Eve and I was outside getting all the shopping carts and bringing them inside. He walked up to me, shook my hand, told me who he was, and continued to thank me for my job well done. Being so young and not fully understanding his importance I took the small encounter for granted.
The Strategic Analysis will show some of the steps that have been taken to overcome some of the difficulties that Sears has had. The newest CEO, Arthur C. Martinez, has been a motivating leader for the company. He has implemented many changes that have increased sales and moved Sears back up to the top of the retail chain. These changes would include store remodeling, Internet strategies, differentiation, and human resource management.
However, during the 1990s, Philips and Matsushita both faced major challenges to sustain their position in the market. Changing profile of the industry and globalization forces made Philips and Matsushita’s organizational models and competitive advantages obsolete, and brought up the need for drastic actions. At the brink of a new century, the battle of two giants unraveled with CEOs from both sides implementing another round of strategic initiatives and restructurings. The pressure put on new CEOs was enormous – wrong st...
In July 1996, Alert J.Dunlap (also known as Chainsaw Al)was hired as CEO and Chairman by Sunbeams' board of directors to help the company from a period of lagging sales and profits and make it an attractive acquisition target.
Willis, Gary. Certain Trumpets: The Nature Of Leadership. New York , New York: Simon & Schuster, 1994.
The General Electric Company (GE) is organized with its chief executive officer, shareowner, and board of directors on the top of the pyramid, followed by their executive leaders and corporate staff. GE’s Board of Directors ensures the company serves the interests of shareowners and other key stakeholders with the highest standards of integrity and compliance. Serving equally as tough critics and wise counselors, they provide in-depth oversight of the major strategic issues of the company (General Electric Company, 2012). The authority officially vested in the board of directors is assigned to a chief executive officer (CEO), who occupies the top of the organizational pyramid (Bateman & Snell, 2011). There chai...
Peter Löscher, the former CEO of Siemens Corporation, helped the company get out of a precarious predicament. Using his transformational leadership, his unique qualities of intelligence, knowledge, expertise, self-confidence, integrity, and maturity and his legitimate and expert power he helped dig Siemens out from a deep hole of legal problems that it could not have survived without his help. With his cross-cultural leadership style, Löscher was able to motivate and influence the variety of employees that worked for him to move Siemens to a better place in the business world. Even with this help and the great qualities he possesses, Löscher was only CEO of Siemens for 6 years.
Life as we know it today is primarily the result of the innovation of modern marvels from the most pivotal company of the 19th century. General Electric,GE, happens to be one of the most innovated companies of all times, with groundbreaking advances in science and technology. GE scientists and the world’s brightest, are focused on finding solutions to the world’s toughest problems in energy, the medical field, transportation, finance, and in everyday home life. GE has over 304,000 employees worldwide and has founded 67,588 patents. That is even more patents than the US government. GE’s number one commitment centers itself on Eco imagination by reducing its environmental foot print, and therefore striving towards economic growth.
Jeff Weiner has been ranked amongst the top 50 CEOs by Glassdoor consecutively for the past 4 years (ranked No.1 in 2014). His humane management skills and charismatic nature has received praise across the industry. After his appointment as CEO of LinkedIn, not only has LinkedIn grown its employee base, but has successfully transformed from a start-up company into a public company in