With General Electric being a multinational company, political factors play a huge part in their operations. GE has to be aware of all of the different tax laws in all of the companies that they operate in which is over 170 different countries (https://www.ge.com/about-us/fact-sheet) . Some of these countries have very favorable environments for businesses to operate in, while other countries have extremely hard regulations and government intervention that makes it more difficult to operate in. The United States provides a favorable environment for businesses to operate in where as a country such as China, who has extremely tough regulations and government intervention, can be quite difficult to operate in. Working in countries that have more regulations such as China pose more of a risk to companies entering their market since the government can take it over. Multinational companies such as GE need to keep all of this in mind to keep their business operating smoothly.
Economically, General Electric is affected by changes in interest and exchange rates around the world. Government spending is another huge external factor for GE. When government spending is increased in countries that GE operates in, it is beneficial for the company. Adversely, as government spending is decreased, it hurts GE. A few other economic factors that play a part in GE’s external environment are employme...
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...l electricity grows. GE must do everything in their power to stay ahead of the technology curve and make sure they are innovating and evolving as time goes on.
One of the main competitors to GE according to Forbes.com is Siemens (http://www.forbes.com/sites/narrativescience/2012/01/17/forbes-earnings-preview-general-electric/#2516f80276fd). GE and Siemens operate in many similar industries such as power, financing, home appliances, and transportation to name a few. When comparing the revenue of the two companies, GE comes out on top with $146 billion to Siemens $102 billion (http://morelesscompare.com/largest-companies/general-electric-vs-siemens/). With GE’s revenue being so much higher than Siemens, they appear to be ahead of Siemens as of now. However, GE needs to continue growing and improving to make sure they can stay ahead of their counterpart rivals.
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