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Globalization at General Electric - Research Paper Example

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Initially the company achieved market dominance by merging with various companies. In 1892, Edison General Company and a Thomson Houston, a…
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Globalization at General Electric

Therefore, the aim of this report is to analyze international process at GE and the lessons which the globalization at GE has provided to entrepreneurs and managers. The current Chairman and Chief Executive Officer of GE is Jeffrey Immelt. Moreover, GE has presence in 160 countries of the world and total number of employed people at GE on December 2009 was 304,000. The company holds 2370 filed patents and in 2009, total $5.2 billion were spent in Research and Development (General Electric, 2010). This shows that GE is investing huge amount on its research and development.
The company is offering a huge product range and services. Currently, GE is offering products and services related to Appliances, Aviation, Consumer Products, Electrical Distribution, Energy Products, Finance and Business Products, Health Care, Lighting, Media and Entertainment, Oil & Gas, Rail, Software & Services and Water (General Electric, 2010).
The major reason because of which GE invested aggressively in foreign expansion was the primary aim of existence of the organization. All leaders of the company have been envisioning huge goals for GE. GE adopted a huge international diversification strategy as it is evident from electronic products to financial services and television broadcasting. GE goal was to become number one or two globally in all the businesses in which it was participating and to attain this goal, foreign direct investment strategy was adopted. After pursuing international expansion strategy, the second aim was to make GE a truly global company because it was still very much an American company doing business abroad. For example, domestic revenues were still higher than international revenues. To make GE a truly global company, Immelt focused on shifting centre of gravity and brought changes in the way GE was organized and operated. For example company moved its headquarters in 2008 for GE Money to London. Another ... Read More
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