The market opportunity must fit with the product concept in that there must be demand in the market for the product or service, and of course, early customers those willing to purchase have to be identified. Finally, sufficient resources, including financial resources e. Each piece is discussed in more detail in the sections that follow. The Opportunity The opportunity is a chance to engage in trades with customers that satisfy their desires while generating returns that enable you to continue to operate and to build your business over time.
Now in a vastly different business environment, Jeff Immelt is turning GE's culture upside down. The NEW GE corporate culture You've probably heard the story of the 6 blind men and the elephant; everyone touches a part and gives his own description.
Well, I couldn't find just one person to describe the General Electric corporate culture. However, I thought you'd enjoy this summary from a recent Business Week article web link below.
GE operates through 11 segments: A brief list of GE products would take up another long paragraph, so why bother? What mattered most was continuous improvement. That mindset helped give GE consistent earnings and growth over several decades. He admits to having two fears: He worries that the obsession with bottom-line results will make managers shy about taking risks.
So he's pushing a cultural revolution.
He's on a mission to transform the process-oriented company into a creative machine, driving growth through innovation. Transformation In pushing his new processes, Jeff Immelt is changing many of GE's long cherished traditions and beliefs.
Outsiders are being welcomed into the highest ranks - a break with old promote-from-within policies. In sales and marketing alone, GE has hired more than 1, new people in the past couple of years, including hundreds of seasoned veterans. And there's a push for a more global workforce to match the areas in which GE operates.
Jeff Immelt is making the need to generate BIG ideas a priority. In true GE style, he's installing a quantifiable and scalable process for coming up with ideas for new businesses.
While Jack Welch was best known for his annual planning sessions during which he personally evaluated the performance of GE's top managers, Jeff Immelt's highest-profile new gathering is the Commercial Council. Business leaders must submit at least 3 "Imagination Breakthrough" proposals a year, reviewed by the council and Jeff Immelt himself.
The right ideas will get billions in new funding. For an old company, steeped in the slow ways of Six Sigma, these changes seem scary.
Now the demands are for development of strengths in areas that are hard to measure - creativity, strategy, and customer service. Compensation is tied to more than just meeting bottom-line targets; now managers must have the ability to come up with ideas, show improved customer service, generate cash growth, and boost sales.
They are being asked to embrace risky ventures, many of which may fail. Risking failure is a badge of honor at GE today.年4月8日 GE 日本メジフィジックスの改組 米ゼネラル・エレクトリック、英アマシャム社の買収を完了 GE Healthcareを設立、新時代のヘルスケアソリューションを提供.
In June, when Jeff Immelt resigned after 16 years as CEO of General Electric (NYSE:GE), the man who gave him the job, the conglomerate's legendary chief, Jack Welch, publicly offered nothing but. Draft a briefing report to Jeff Immelt that advances an argument for the use of the real options approach to strategic planning as GE attempts to address the problems that engulfed the corporate in Feb 11, · Jeff Immelt and the Reinventing of GE, The following is a case review of Case 23 taken from Robert M.
Grant's Book: Contemporary Strategic Analysis.
(7th Ed. Area Specific Case Studies Industry Wise Case Studies Company Wise Case Studies Human Resource Management Short Case Studies: Case Study Search. General Electric Company (GE) is an American multinational conglomerate incorporated in New York and headquartered in Boston.
As of , the company operates through the following segments: aviation, healthcare, power, renewable energy, digital, additive manufacturing, venture capital and finance, lighting, transportation, and oil and gas.
In , GE ranked among the Fortune as the .