Case Study: General Electric

2590 Words11 Pages
Introduction This paper is a qualitative overview of modern business innovation strategies and theories, strategic business management, corporate ethics, and a case study of General Electric (GE). The innovation strategies specifically discussed in this paper are: disruptive innovation theory, value innovation, blue ocean strategy, and fast second. Strategic business management and its 5 step implementation process are detailed. Corporate ethics are discussed as a practice and as a strategy. Finally, the implications and applications of these theories, strategies and practices are evaluated in a case study of GE. Innovation Theories Disruptive Innovation Theory Disruptive innovation theory, first published by Christensen (1997), is an invaluable tool in a managers toolbox for understanding disruptions in their market. The theory enables managers to understand how disruptive innovations can threaten their business and provides a framework by with the manager can cope, or survive, the changes (Christensen & Overdorf, 2000). The theory has been largely accepted throughout the business world and further expanded and researched by other scholars and practitioners. This expansion lead Raynor (2011) to demonstrate that the theory can be used to predict, with increased statistically probability, a ventures future success or failure. This evidence does not mean the disrupting business will always win-out; the research suggests that the business that creates the innovation not guaranteed to prosper. In all the cases Christensen (1997) used the business inevitably failed. These failures were due to many factors but all illustrate the importance of adaptability. The ability to adapt to changes is the most important ability a business can ha... ... middle of paper ... ...ness Ethics, 92(4), 479-491. doi: 10.1007/s10551-009-0176-z Thompson, A. A., Peteraf, M. A., Gamble, J. E., & Strickland, A. J. (2013). Crafting and executing strategy : the quest for competitive advantage : concepts and readings (NINETEENTH EDITION. ed.). Vallaster, C., Lindgreen, A., & Maon, F. (2012). Strategically Leveraging Corporate Social Responsibility: A CORPORATE BRANDING PERSPECTIVE. California Management Review, 54(3), 34-60. doi: 10.1525/cmr.2012.54.3.34 von Krogh, G., & Raisch, S. (2009). Focus Intensely on a Few Great Innovation Ideas. Harvard Business Review, 87(10), 32-32. Washburn, N. T., & Hunsaker, B. T. (2011). Finding Great Ideas In Emerging Markets. Harvard Business Review, 89(9), 115-120. Yahoo! Finance. (2013). GE: Summary for General Electric Company Common- Yahoo! Finance. Retrieved 2 Ocober, 2013, from http://finance.yahoo.com/q?s=GE
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