Further the high dependence on ethical business behaviour also helps in enhancing the social image of the concern in the external environment. Introduction to the company General Electric (GE) is an established company in the field of services, technology and manufacturing. The company operates in more than 100 countries and has 313,000 employees worldwide. The company owes its origin to the inventions of Thomas A. Edison. Edison established Edison Electric Light Company in the year 1878. It was in the year 1892 that a merger between Edison General Electric Company and Thomson – Houston Electric Company lead way to the birth of General Electric Company. GE has the record of being the only company that is listed in Dow Jones Industrial Index today that was also listed in the original index. GE holds the rank of the 5th largest U.S based company in the fortune 500. The main head quarters of the company is in Connecticut, U.S. the main division of work in GE are, GE Aircraft Engines, GE Appliances, GE Industrial Products and Systems, National Broadcasting Company, Inc., General Electric Capital, GE plastics, GE medical Systems, GE power systems, GE technical products and services. GE since its inception has undertaken the strategy of diversification and expansion in a global scale. The company has been successful in establishing itself in various industrial market and countries (General Electric, 2000, p.1). Corporate Vision/Mission The mission statement of GE represents the goals set for all their business units. The mission statement of GE represents the values that are centered on their key believes, Imagine, Build, Solve and lead. These four expressive verbs are chosen by the company to symbolize the stand of GE as a singular entity. For almost more than 125 years GE has been regarded as a company that believes in imagining and brings the imagination into life. GE believes in the power of imagination. The imagination of human brain if focused on the right issues can build up solutions for several problems. The stress given by the management on building solutions for various problems, gives GE the edge and the strength to lead. Corporate Objective/ strategy The main strategy applied by GE in establishing itself as a global player is the two basic strategies: the strategy of diversification and the strategy of global scale operations. GE from the era of its inception has been open to all kind of business markets. The company which owes its origin mostly to electric engineering today has several operations that vary in nature from services to manufacturing. The company has been very adaptive during their growth and has added many operations including Medical equipments and home appliances to enter new market. The company has also applied aggressive strategies to enter the global market. GE has several dealers and showrooms in most countries. The trained sales force of GE give the company an easy entrance in many countries. GE has also applied the strategy of resourcing their raw materials or parts from suppliers in countries from low wage countries. This Step taken by GE though
Cite this document
(“Ethics in Organizations Term Paper Example | Topics and Well Written Essays - 2500 words”, n.d.)
Retrieved from https://studentshare.net/visual-arts-film-studies/34793-ethics-in-organizations
(Ethics in Organizations Term Paper Example | Topics and Well Written Essays - 2500 Words)
“Ethics in Organizations Term Paper Example | Topics and Well Written Essays - 2500 Words”, n.d. https://studentshare.net/visual-arts-film-studies/34793-ethics-in-organizations.
Cited: 0 times
Ethics in Organizations Contents Executive summary 3 Introduction to the company 3 Corporate Vision/Mission 4 Corporate Objective/ strategy 4 Company Present situation from the perspective of: 5 Business Ethics 5 Social Responsibility of Business 5 Corporate Governance 6 HR Ethics 6 Organizational Culture 7 Research Methodology 7 Type of Data Collected 8 Findings 8 Limitation in Research 12 Recommendation 12 Conclusions 13 Appendices 13 Bibliography 15 Executive summary General Electric is one of the topmost companies in the world which acts fully on the process of innovation to render significant productivity…
1.b Monopoly In a Monopoly market, the number of seller is one, and they produce unique goods having no competitors in the market and in this type of market the entry for the other parties or sellers is totally restricted (Velasquez, G.M., “Business Ethics: Concepts and Cases”: 167).
Within the defined parameters of organizational structure, leaders motivate the target group for optimal performance outcome. The ethical consideration of organization leadership becomes a crucial factor. Hence, my personal philosophy of leadership ethics would broadly comprise of the following values and principles that I intend to apply in my professional life.
It is therefore a challenge for aviation industry to lead and manage the ever-changing scenario. The study has been conducted considering the job of aviation mechanic in Virgin Atlantic. An aviation mechanic possesses vital responsibilities in his task. He is responsible to maintain the entire set of spare parts of the aircraft and its recovery.
The standards for professional psychologists have been expressly defined in the American Psychological Association (APA) ethics and code of conduct which specifies the minimum requirements for a professional psychologist. The psychologists are then issued with licenses under the Professional Psychologists Licensing Act.
On the other hand, I am an accounting professional and I am bound by a code of ethics of the accounting professional. The latest code of ethics handbook immediately available to me is the 2010 handbook of the International Federation of Accountants. Of course, the events happened more than three years ago and the code of ethics at that time may have been different.
the need to incorporate a more comprehensive ethics training program for organizations that are committed to adhering to ethical, moral and legal standards of operating their businesses. As disclosed, Bucaro (2012) enumerated three minimum requirements that an ethics training
Accounting ethics is a very important ethical practice for preventing corporate collapses. Accounting ethics has significant importance for different stakeholders related with any organization. It is being noticed that different corporate collapses and recent accounting malpractices has increased the importance of accounting ethics.