script ge - Background General Electric Company or GE, is...

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I. Background General Electric Company or GE , is an American multinational conglomerate corporation incorporated in Schenectady , New York and headquartered in Fairfield , Connecticut, United States. Jeffrey Immelt is the current chairman of the board and chief executive officer of GE. He was selected by GE's Board of Directors in 2000 to replace John Francis Welch Jr. ( Jack Welch ) following his retirement. His tenure as the Chairman and CEO started at a time of crisis — he took over the role on September 7, 2001four days before the terrorist attacks on the United States, which killed two employees and cost GE's insurance business $600 million — as well as having a direct effect on the company's Aircraft Engines sector. Previously, Immelt had headed GE's Medical Systems division (now GE Healthcare) as its President and CEO. Immelt has also been selected as one of President Obama's financial advisors concerning the economic rescue plan. In 2011, Fortune ranked GE the 6th largest firm in the U.S., as well as the 14th most profitable and many other rankings. II. The Current Business-Level Strategy Strategies are; GE Work-Out is a process for involving large numbers of people simultaneously in process improvement. The GE Work-Out Process captures the collective creativity of an organization on critical business issues and translates those ideas into action. Work-Outs can be simple, focusing on eliminating bureaucracy and rework or rigorous, using advanced analytical tools. GE Work-Out had become the basis for the company’s push into Six Sigma and has since served as the foundation for GE’s work on digitization and e-business. How Does GE Work-Out work? Design: A Work-Out designer, typically an internal or external consultant, guides the leadership team through the process, from defining the problem to organizing a town hall meeting. The design phase usually takes a few weeks, although it can be accomplished in as little as one session if the Work-Out is very focused and simple. Conduct: During the Work-Out, business leaders challenge participants to solve an important business problem or achieve a challenging goal. Participants then work in small teams to brainstorm, prioritize, and select a few ideas for achieving the performance goal. They develop detailed presentations and plans for putting these ideas into action. Implement: After the event, teams have to implement their approved recommendations and plans very quickly. Six Sigma is now the way GE work is embedding quality thinking, process thinking, across every level and in every operation of our Company around the globe. There are three key elements of quality: customer, process and employee. 1. CUSTOMERS; Delighting Customers
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This note was uploaded on 02/13/2012 for the course ECON 101 taught by Professor Teerana during the Spring '11 term at Thammasat University.

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script ge - Background General Electric Company or GE, is...

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