Business Evaluation Module #1The business sector has experienced rise of companies which have been established to deal with the manufacture of different products. A lot of measures have been established for these organizations to succeed in their operation. One of the measures is conducting business evaluation. Business evaluation refers to the process as well as activities undertaken to identify whether organization’s activities are conducted in the right manner. The operation should be in line with the company’s goals and objectives as well as the latest trends. General Electric is one of the companies which should be evaluated to find out whether it is operating according to the expected level. According to Grant(P. 26), the General Electric Company is an American based multinational conglomerate which was founded in New York, and the headquarters are based in Boston, Massachusetts. This company deals with various aspects that cut through healthcare, aviation, power, renewable energy, additive manufacturing, venture capital and finance, digital, lighting, oil and gas and transportation. From these segments, it is evident that the General Electric Company is associated with energy which is in different forms. Due to its massive success, the company has been ranked among the fortune 500 company and the 13thlargest corporation in the US by its gross revenue. Key Strategies Events for the CompanyEvery company must come up with some strategy that will be used to handle and carry out various activities. In some cases, there are vital strategic events which defines a lot how the company will operate to maintain or achieve a higher level of success. The General Electric Company has devised some key strategies which have helped it to achieve success. One of the
critical strategic events of this company is to invest in innovation, services as well as globalization (Gomez-Exposito, Conejo,& Canizares, p. 78). Innovation helps in development of new ideas which will be used by the company to move forward by exploring new ventures. The second key strategy is to build a strong business. The company has created a good network with other people who are counterparts. This strategy ensures there is an adequate supply of various resources that will be used by the company to produce different items. Building strong business will have a positive advantage for the company as it will ensure it operates effectively without any form of interference.The other key strategy of the company is that has been able to commit to people. The firm has been able to develop strong leaders and a loyal team. The presence of strong leaders ensures that all the department are led in the right matter ensuring that goals and objectives of thecompany are met. A loyal team within the company are individuals who can undertake their duties without supervisions.