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Ge Oil And Gas Essay

819 words - 4 pages

GE Oil and Gas
General Electric is a diversified industrial corporation. The company maintains a huge variety of products and services such as aircraft engines, oil and gas production equipment, power generation, household appliances, medical imaging, business and consumer financing and industrial products. The company primarily operates in North America, Europe, Asia, South America, Australia and Africa. GE headquarters is located in Fairfield, Connecticut and employs approximately 307,000 people (General Electronic SWOT Analysis, 2014).
GE’s oil and gas business has been the focal point of the company for the last few years; at least since 2011. The company has put together a $17 ...view middle of the document...

They are also known obviously for some innovation and a lot of the R&D that gets done. It has become well known that GE grooms leaders who need to look at problems in new and challenging ways, because they’re so big that they had to grow using these kind of large decisions. They can’t go after minimal changes and then expect to sustain the growth that they’re accustomed to (Ferguson, 2014).
GE launched what they call its "ecomagination initiative," which it intended to meet their customers' demands for more energy-efficient products and, in the process, improve the company's bottom line. GE didn’t just adopt the approach simply because it wants to do its part for the environment. They consider "Ecomagination” a hard edged business strategy. To GE, "eco" means economics plus ecology. The corporation has made the provision of environmental solutions a company-wide business strategy, which includes the oil and gas business. Each GE division is encouraged to come up with green products and, as an example to customers, to develop its own plan for reducing its environmental footprint (Gwynn, 2010).
According to Kaplan and Norton (2011), managers use the balanced scorecard to manage four processes that separately and in combination link long term strategic objectives with short term actions. The first of these four processes are translating the vision, which GE uses to ensure that everyone in the organization has a crystal clear understanding of the company vision. The second process is communicating and linking,...

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