GE Strategic Audit Reveals Infrastructure Growth Strategy

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General Electric – Strategic Assignment #1
Tim Enalls
Tim Enalls
General Electric
WMBA 6110: Business Strategy
Strategic Audit
Summer 2013

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INTRODUCTION
In this paper, I will conduct a strategic audit on General Electric and its eight business units. The
following factors will be discussed:
 Current Situation
 Corporate Governance
 External Environment: Opportunities and Threats
 Internal Environment: Strengths and Weaknesses
 Analysis of Strategic Factors (SWOT)
 Strategic Alternatives and Recommended Strategy
 Implementation
 Evaluation and Control
CURRENT SITUATION
CURRENT PERFORMANCE

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In 2012, General Electric grew its segment profits by 11% to $22.9 billion. It generated $17.8 billion
of cash from operating activities, up 48%, and returned $12.4 billion of cash to investors through
dividends and stock buybacks. Its total shareholder return grew by 21%, well ahead of the 16%
growth in the S&P 500. GE’s market cap grew by about $30 billion, and it is the eighth most valuable
company in the world. At $100 billion of revenue with 15% margins, General Electric is also the
largest and most profitable infrastructure company in the world. GE’s biggest source of revenues
came from GE capital topping out at $46 billion.
Revenues in 2012 were $147,359 million as compared to $147,288 million in 2011. Two noticeable
differences between 2012 and 2011 is that total assets and earnings (loss) from discontinued
operations are considerably lower. This is because of the sale of the GE Money Japan business (its
Japanese personal loan business and Japanese mortgage and card businesses), WMC (its U.S.
mortgage business), BAC Credomatic GECF Inc. (its Central American bank and card business),
Consumer RV Marine (its U.S. recreational vehicle and marine equipment financing business),
Australian Home Lending (its consumer home lending operations in Australia and New Zealand), and
others. The selling of underperforming businesses is part of an ongoing business strategy. Long-term
borrowings decreases year-by-year consistently.

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Profit Increase Percentage per Business Unit:
1. GE Power & Water – 8% as higher volume, increased other income, and the impacts of
deflation were partially offset by lower prices, lower productivity, and the effects of the
stronger U.S. dollar.
2. GE Oil & Gas – 16% as higher volume and increased productivity, reflecting increased
equipment margins, were partially offset by the effects of the stronger U.S. dollar.
3. GE Energy Management – 68% as a result of higher prices and increased other income.
4. GE Aviation – 7% due primarily to higher prices and higher volume, partially offset by
higher inflation and lower productivity.

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5. GE Healthcare – 4% reflecting increased productivity, higher volume and other income,
partially offset by lower prices and higher inflation, primarily non-material related.
6. GE Transporation – 36% as a result of higher volume, higher prices, and increased
productivity.
7. GE Home & Business Solutions – 31% as higher prices were partially offset by the effects
of inflation and lower productivity.
8. GE Capital – 12% primarily due to lower impairments and core increases, including higher
tax benefits, partially offset by the absence of the 2011 gain as a result of selling its $3.78
billion stake in Garanti Bank in 2010.

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According to GE’s scorecard, industrial segment earnings growth is at +10% and industrial operating
earnings % of total is at 55%. Interesting, $6.4 billion worth of cash was generated by GE capital,
solidifying it as GE’s biggest cash cow. Additionally, returns on total capital topped out at an
impressive 11.7%.
While revenues in 2012 ($147 billion) weren’t as high as in 2008 ($180 billion), there has been a
consistent increase in operating earnings over the last four years. Cash flow from operating activities
(CFOA) is also close to 2008 levels, topping out at $17.8 billion.
In 2012, General Electric outperformed the S&P 500 and Dow Jones indexes steadfastly. As of May
10, 2013, the stock price was $22.90 per share. There are $10.4 billion shares issued, the market cap is
$238.12 billion, and the earnings per share (EPS) is $1.43. The market price per share divided by
earnings per share ratio (P/E) for GE’s stock is 16.01.
STRATEGIC POSTURE
Mission
General Electric doesn’t seem to have an official mission statement but the following statement
displayed at the bottom of its website appears to be more persuasively worded than most official
mission statements:

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Furthermore, these are the following statements that are on the websites for each of GE’s business
units:
1. GE Power & Water – “with a full array of advanced power generation and energy delivery
technologies, we work collaboratively with customers to drive growth & progress, anticipate
energy needs of the future, and power a cleaner, more productive world. “
2. GE Oil & Gas – “a world leader in advanced technology equipment and services for all
segments of the oil and gas industry, from exploration & production to downstream.”
3. GE Energy Management – “This is GE’s electrification business. Global teams design
technology solutions for the transmission, distribution, management, conversion and
optimization of electrical power across multiple energy-intensive industries.”
4. GE Aviation – “the world's leading producer of large and small jet engines for commercial
and military aircraft. It also supplies aircraft-derived engines for marine applications and
provide aviation services.”
5. GE Healthcare – “provides transformational medical technologies and services that are
shaping a new age of patient care. Its broad expertise in medical imaging and information
technologies, medical diagnostics, patient monitoring systems, drug discovery,
biopharmaceutical manufacturing technologies, performance improvement and performance
solutions services help its customers to deliver better care to more people around the world at
a lower cost. In addition, it partners with healthcare leaders, striving to leverage the global
policy change necessary to implement a successful shift to sustainable healthcare systems.”
6. GE Transporation – “solves the world’s toughest transportation challenges. GE
Transportation builds equipment that moves the rail, mining and marine industries. Its fuel-
efficient and lower-emissions freight and passenger locomotives, diesel engines for rail,
marine and stationary power applications, signaling and software solutions, drive systems for
mining trucks, and value-added services help customers grow.”
7. GE Home & Business Solutions – “Innovative technologies to deliver comfort, convenience,
and electrical protection and control in more than 150 countries. The subunits include
Appliances, Lighting, and Electrical Distribution.”
8. GE Capital – “provide smart financing and the know-how of GE to help its customers'
capital go further and do more.”

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Objectives
Last year, GE set the following execution goals to complete in 2012: double-digit industrial earnings
growth, margin expansion, restarting the GE Capital dividend to the parent, reducing the size of GE
Capital, and balanced capital allocation. It achieved all of those goals for the year.
Strategies
According to Jeffrey R. Immelt, GE’S CEO, these are five strategies that GE is implementing in order
to create value over time and gain competitive advantage:
1. It has remade GE as an “Infrastructure Leader” with a smaller financial services
division. GE will continue growing in fast-growing businesses like Oil & Gas, Life Sciences,
and Distributed Power—businesses GE was not in a decade ago. This growth results from
organic investment and focused acquisitions. This growth is essential because around $60
trillion of infrastructure investment is needed by 2030 to support billions of new customers
joining the middle class in emerging markets. GE Capital will continue to be reduced from
the $600 billion in assets it was in 2008 to $300 - $400 billion in the future.
2. It is committed to allocating capital in a balanced and disciplined way. GE’s top priority
is growing the dividend and it is one of the top companies in regards to dividend

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payments. GE will buy back shares to get below 10 billion, where it was before the 2008
crash. It will also continue to execute on focused acquisitions, a capital-efficient way to grow
a company.
3. It has significantly increased investment in organic growth, focusing on R&D and global
expansion. Annually, GE invests $10 billion to launch new products and build global
capability. Over the past decade, it doubled its annual R&D investment, increasing from $2-
$3 billion to 5 –6% of revenue. It will launch 10 new gas turbines this decade, significantly
more than other companies are capable of launching.
4. It has built deep customer relationships based on an outcomes oriented model. It has
grown its service revenue from $21 billion to $43 billion over the past decade. There is $157
billion service backlog, which means there is room to grow in the future.
5. It has positioned GE to lead in the big productivity drivers of this era.
a. It will lead in the shale gas revolution. GE plans to use its Oil & Gas business for
the extraction, development, and environmental protection of shale gas.
b. It is extending GE’s lead in advanced manufacturing. GE is investing in
processing technologies such as additive manufacturing. GE also aspires to use new
light-weight materials for turbines and to reduce cycle times of complex systems.
c. It is making a major investment in software and analytics. GE has built a
Software and Analytical Center of Excellence in California in which some of the best
talent in the world will be employed in order to achieve this goal. GE aspires to build
smarter machines with the ability to extract and analyze data.

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Each of the strategies proclaimed by Mr. Immelt is intended to sustain or increase GE’s competitive
position in the various industries it is in.
Policies
It goes without saying that General Electric is one of the most recognized companies in the world:
 Ranked among Fortune's listing of the world’s most admired companies and the top
companies for leaders in 2012
 Named in Barron's list of the most respected companies in 2012
 Named in Ethisphere's list of the world's most ethical companies in 2012.
 Named in Bloomberg Businessweek's list of the world's most innovative companies in 2012
 Ranks sixth on Interbrand's list of Best Global Brands
 Ranks 24th on the list of Best Global Green Brands
Social Responsibility
GE’s proclaimed commitment to social responsibility is vast and far surpasses what most companies
are able and willing to achieve.
GE Citizenship is a fulltime commitment to providing assistance in focus areas such as people, planet,
and economy. The amount of resources and research that GE has invested in each of these three areas
is substantial and serves as an impressive benchmark for other similar-sized companies to match.

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Ecomagination is GE’s commitment to imagine and build innovative solutions to today’s
environmental challenges while driving economic growth. The resources and amount of effort they
have expended to publicize this initiative is beyond compare. Not only is there an entire webpage
dedicated to it, there is even a YouTube channel with 82 high-quality videos.
Hiring practices
As many companies state, GE promotes a diverse workforce and it provides all of its employees with
opportunities to reach their growth potential. On GE’s website, it says its achievements reflect a
culture of meritocracy—a philosophy that holds that power should be vested in individuals according
to their merit. GE continues to receive recognition from top publications and organizations such as
Diversity Careers, Black Enterprise, Working Mother, and Diversity MBA magazine.
Sarbanes-Oxley Act of 2002
GE fully complies with the Sarbanes-Oxley Act and meticulously makes this fact known to investors.
In 2005, it was revealed that GE spent more than $30 million in the previous year to comply with the
Sarbanes-Oxley law. This money was used to map out the flow of money, check information

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technology systems and much more. Reassuring investors that they are following all applicable laws
and regulations is a top priority for GE executives.
Ombudsperson Process
According to the GE ombudsperson process webpage, all GE employees are encouraged to report
concerns about legal or ethical violations. According to the website, their concerns will be objectively
investigated by subject matter experts in Finance, Legal and Human Resources (and outside
specialists, if necessary), with appropriate individual and remedial action and without fear or favor.
As was already suggested, GE expends a tremendous amount of resources to make it known that they
fulfill all four of the responsibilities shown in the graphic above.
CORPORATE GOVERNANCE
BOARD OF DIRECTORS

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The GE board held 13 meetings in 2012. Each outside Board member is expected to visit at least two
GE businesses without the involvement of corporate management in order to establish their own
personal analysis of the company’s operations. According to the GE website, the board members
focus on the areas such as strategy, risk management, leadership development and regulatory matters.
In 2012, they received briefings on a variety of issues, including capital allocation and business
development, risk management, technology excellence and IT strategy, margin dynamics, regulatory
trends, healthcare and social cost, capital market trends, the global economic environment, and GE’s
branding, marketing and operating initiatives. At the end of the year, the Board and each of its
committees conducted a thorough self-evaluation. Out of the 17 members of the GE board, 16 are
independent.
The board members each own GE stocks. GE currently offers stock for sale to the public and will
likely continue to do so in the long term. GE has different classes of stock with different voting
rights—common stock and preferred stock.

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Name Contribution and Background Independent
Director?
Board
Member
Since
International
Experience
W. Geoffrey
Beattie
Deputy Chairman, Thomson
Reuters, global media and
financial data,
Toronto, Canada.
Yes 2009 Limited
John J.
Brennan
Chairman Emeritus and Senior
Advisor, The Vanguard Group,
Inc., global investment
management.
Malvern, Pennsylvania.
Yes 2012 Limited
Dr. James I.
Cash, Jr.
Emeritus James E. Robison
Professor of Business
Administration, Harvard Graduate
School of Business, Boston,
Massachusetts.
Yes 1997 Limited
Francisco
D’Souza
Chief Executive Officer,
Cognizant Technology Solutions
Corporation.
Teaneck, New Jersey.
Yes 2013 Limited
Marijn E.
Dekkers
Chairman of the Management
Board, Bayer AG.
Leverkusen, Germany.
Yes 2012 Limited

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Ann M. Fudge
Former Chairman of the Board and
Chief Executive Officer, Young &
Rubicam Brands, global marketing
communications network.
New York, New York.
Yes 1999 Limited
Dr. Susan M.
Hockfield
President Emerita and Professor of
Neuroscience, Massachusetts
Institute of Technology.
Cambridge, Massachusetts.
Yes 2006 Limited
Jeffrey R.
Immelt
Chairman of the Board and Chief
Executive Officer, General
Electric Company.
Fairfield, Connecticut.
No 2000 Limited
Andrea Jung
Chief Executive Officer, Avon
Products, Inc., beauty products.
New York, New York.
Yes 1998 Limited
Robert W. Lane
Chief Executive Officer, Deere &
Company, agricultural,
construction and forestry
equipment.
Moline, Illinois.
Yes 2005 Limited
Chief Executive Officer, Johnson
& Johnson, pharmaceutical,
medical and consumer products.
New Brunswick, New Jersey.
Yes 2002 Limited

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Ralph S. Larsen
Rochelle B.
Lazarus
Chairman Emerita and former
Chief Executive Officer, Ogilvy &
Mather Worldwide, global
marketing communications
company.
New York, New York.
Yes 2000 Limited
James J. Mulva
Chief Executive Officer,
ConocoPhillips, international,
integrated energy company.
Houston, Texas.
Yes 2008 Limited
Mary L.
Schapiro
Managing Director, Promontory
Financial Group, a global
consulting firm.
Yes 2013 Limited
Robert J.
Swieringa
Professor of Accounting and
former Anne and Elmer Lindseth
Dean, Johnson Graduate School of
Management, Cornell University.
Ithaca, New York.
Yes 2002 Limited
James S. Tisch
President and Chief Executive
Officer, Loews Corporation,
diversified holding company.
New York, New York.
Yes 2010 Limited

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Douglas A.
Warner III
Former Chairman of the Board,
J.P. Morgan Chase & Co., The
Chase Manhattan Bank, and
Morgan Guaranty Trust Company,
investment banking.
New York, New York.
Yes 1992 Limited
As was conferred before, GE’s board of directors actively participates in GE’s affairs.
TOP MANAGEMENT

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GE has many of the most gifted and knowledgeable executives in the world. As with the GE board of
directors, the GE corporate executives have unprecedented professional and educational backgrounds.
Top management has established a well-documented, systematic approach to management.

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According to the Forbes website, Jeffrey Immelt owned 1,577,969 shares in 2011. Other members of
the GE corporate executive team also own a considerable number of shares. If the agency theory is
correct, their stock ownerships ensure that their decisions will result in the well-being of GE’S
competitiveness.
Name Contribution and Background Year Placed in
Position
International
Experience
Ferdinando
“Nani” Beccalli-
Falco
Senior Vice President
President and CEO of GE Europe; CEO GE
Germany
 Manages the European activities
creating and implementing the
strategy and coordinating all GE
businesses.
 Responsible for the leadership of GE
in Germany where he is heading the
operations of a "One GE" country
business
 Enjoyed a long career at GE, starting
in 1975 in the United States
 Served as President & CEO GE
International where he successfully
built GE's global team over nine
years.
 Held leadership positions in GE
Capital and GE Plastics in the U.S.,
the Netherlands and Japan.
Kathryn A.
Cassidy
SVP and Treasurer
GE & GE Capital
 Almost all of GE's debt is issued
through GE Capital to support its
financial services businesses.
 GE Capital is America's largest
corporate issuer of long-term debt
and the world's largest issuer of
2001

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commercial paper.
Beth Comstock
Chief Marketing Officer
SVP of GE
 Leads GE’s growth and market
innovation initiatives, including
three company-wide platforms: GE
Ventures, which partners start-ups
with GE capabilities, and
ecomagination and
healthymagination, which harness
innovation for better environmental
and health outcomes.
 Leads the sales, marketing and
communications functions.
 Served as President of Integrated
Media at NBC Universal where she
oversaw ad sales, marketing and
research, and led the company’s
digital media efforts, including the
formation of hulu.com, Peacock
Equity, and ivillage.com.
2003
Matthew G.
Cribbins
Vice President
GE Global Audit
 Leads a team of 700
 Spent six years on GE's Corporate
Audit Staff (CAS), becoming an
executive audit manager for
Commercial Finance.
 In 2003, he was named chief
financial officer (CFO) for GE
Energy Financial Services
 Promoted to CFO, GE Commercial
Finance Asia in 2006, based in
Tokyo, Japan.
 In 2008, he became the CFO of GE
Capital Asia and served in that role
until August 2009
 Was the vice president of Financial
Planning and Analysis for GE
2011

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Capital.
Brackett B.
Denniston III
General Counsel, GE
 Previously served as GE's Vice
President and Senior Counsel for
Litigation and Legal Policy from
1996-2004
 From 1993 to 1996, he was Chief
Legal Counsel to Governor William
F. Weld of Massachusetts.
2005, 2004
Shane
Fitzsimons
Chief Financial Officer
Global Growth & Operations, GE
 Served as Vice President, Corporate
Financial Planning and Analysis
since February, 2004
 Was finance manager for GE Engine
Services
 Was manager of Group Financial
Planning & Analysis for Aircraft
Engines.
2011
John L.
Flannery
GE Corporate Business Development
 Was President and CEO for GE
India where he was directly
responsible for all of GE’s
operations in the country
 Has been with GE for over 25 years
and has held several senior
leadership positions in the company
 Was also President & CEO, GE
Capital, Asia Pacific
 Was President and CEO of GE
Commercial Finance, Asia
2013

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Jeffrey R.
Immelt
Chairman and CEO
 Has held several global leadership
positions since coming to GE in
1982, including roles in GE's
Plastics, Appliances, and Healthcare
businesses
 In 1989 he became an officer of GE
and joined the GE Capital Board in
1997
2001
Mark M. Little
SVP, Director of GE Global Research, Chief
Technology Officer
 At Global Research, approximately
2,600 people from virtually every
major scientific and engineering
discipline focus on the company's
long-range technology needs.
 Was vice president of GE Energy's
power-generation segment
headquartered in Schenectady, New
York.
2005
John F. Lynch
GE Corporate Human Resources
 Starting in 2004, led human
resources at the new global
headquarters for GE Healthcare in
London
 In 2001, Mr. Lynch was elected a
GE company officer, becoming vice
president in Human Resources for
GE Medical Systems
2007
Puneet Mahajan
Vice President
Chief Risk Officer, GE
 In 2010, he moved to India as the
Chief Financial Officer (CFO) for
GE India where he helped create the
country P&L structure putting all GE
businesses under one management
2011

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team
 In 2009, Puneet moved back to Japan
as the Chief Financial Officer (CFO)
for GE Capital Asia Pacific
overseeing Finance for $42B in
assets across 10 countries.
Jamie S. Miller
Senior Vice President & Chief Information
Officer
GE
 Previously served in the role of Vice
President, Controller and Chief
Accounting Officer, leading a
globally distributed GE
controllership team comprised of
approximately 3,500 accountants
 Served as the senior vice president,
chief accounting officer and
controller of WellPoint, Inc
2013
Michael A. Neal
Chairman and CEO
GE Capital
 In 2005, was named a Vice
Chairman of General Electric
Company and Chairman of GE
Capital Corporation
 In 2002, Neal became President and
CEO of GE Commercial Finance and
President of GE Capital Services
2002
Susan P. Peters
Chief Learning Officer, GE
VP of Executive Development
 Responsible for talent identification,
leadership development and
succession planning for GE
executives worldwide
 Assumes responsibility for all
training and development, including
leadership
 In 2000, she became executive vice
president of Human Resources for
2007, 2001

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NBC.
John G. Rice
Vice Chairman and President & CEO
GE Global Growth & Operations
 Former vice chairman of GE and
president & CEO of GE Technology
Infrastructure
 From 2005-2007, vice chairman of
GE’s industrial and infrastructure
businesses
2010
Trevor A.
Schauenberg
Vice President
Corporate Investor Communications
 Was vice president and chief
financial officer for GE Capital
Solutions
 Was chief financial officer for GE
Infrastructure, Transportation
Keith S. Sherin
Vice Chairman
Chief Financial Officer, GE
 Former vice president of Finance and
Financial Services Operation
2007, 1998
Brian Worrell
Vice President
GE Corporate Financial Planning &
Analysis
 Was vice president of the GE
Corporate Audit Staff from January,
2006, to December, 2010.
 Led a team of 750 people
responsible for ensuring financial
statement integrity, controllership,
compliance and best practices
throughout the company.
2011
EXTERNAL ENVIRONMENT: OPPORTUNITIES AND THREATS

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NATURAL PHYSICAL ENVIRONMENT: SUSTAINABILITY ISSUES
As is clearly visible in the satellite images above, ice in the Arctic North Pole is melting at a
considerable rate. Many scientists believe that by the year 2050, the ice will melt so completely that
new shipping routes will be available on at least a seasonal basis. By that year, the quickest route to
ship goods from Asia to the U.S. East Coast will be straight across the arctic. It is also expected that

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the Northwest Passage north of Canada will also become an economically viable shipping route. This
is in many ways an unfortunate change in the natural physical environment, especially if it is caused
by increased atmospheric CO2 emitted fromhuman activities. But this change may obviously result in
new customers for GE Transportation to market its marine engines, parts, and services to due to the
new shipping routes made available.
In 1959, a powerful solar storm shorted out telegraph wires in parts of the U.S. and Europe. This
caused extensive fires in the areas affected. Also, in 1989 and 2003, parts of the US and Canada
suffered blackouts due to powerful solar storms. Modern power systems are more vulnerable to
effects of a severe geomagnetic storm than ever before. This is due to the total length of high-voltage
power lines increasing nearly 10 fold and the unprecedented demand for power which is stressing the
modern power grids.
A major solar flare has the potentiality to knock out power grids, leaving 150 million people in the
United States alone without electricity. Most of the damage would be inflicted on transformers which
can take as long as 12 months to individually locate and repair. That is why a node-by-node forecast
of geomagnetic currents is potentially so valuable and may be a very promising venture for GE
Energy globally.
SOCIETAL ENVIRONMENT

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Using the subsequent tables as guide, each of the four major societal environmental trends (as they
pertain to GE) will be discussed: economic, technological, political-legal, and sociocultural.

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Economic
In 2012, 431 global companies were surveyed by Global Intelligence Alliance (GIA) and were asked
what the top 5 emerging markets for their industries were over the next 5 years. India, Brazil, China,
Russia, Indonesia, South Africa, Vietnam, Mexico, Turkey, and Argentina were the top choices in that
order.

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According to Global Insight, countries in Asia will have the highest annual GDP growth in the next
17 years. Africa and Latin America are also geographic areas that are expected to experience high
GDP growth.
According to Boeing, 30,900 new airplanes will be needed by year 2029. A majority of these new
planes will be single-aisle (narrow-body) planes used commercially. The market value for all of these
new airplanes will be $3.6 trillion. This is huge potential market for GE Aviation which manufactures
airplane engines and systems and provides related services.

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Many of the new 30,900 airplanes will be needed in the Asia Pacific due to the high amount of traffic
that will be added by 2029. The annual growth of traffic in that geographic areas will be 7.1%
annually.

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From now until 2035, it is projected that there will be an uptake in the production of Shale gas. Shale
gas is natural gas trapped within shale rock formations deeper underground. Shales are fine-grained
sedimentary rocks that can be rich sources of petroleum and natural gas. Oil and gas companies have
to drill through shale rock horizontally to bore a well that stretches through the natural gas producing
shale. GE Oil & Gas and Chesapeake Energy created a refueling station solution to make compressed
natural gas (CNG) more accessible as a transportation fuel for cars. GE Power & Water and Memsys
will also develop a solution for treating wastewater generated during the gas extraction process
It is projected that a majority of nonhydropower renewable electricity in the U.S. from now until 2035
will be generated by biomass-derived energy and wind power. GE Energy manufactures Biomass
steam turbines and wind turbines that can meet much of this demand.
The top reserve holders of shale gas are China, U.S., Argentina, and others.

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As the figure above states, growth in energy demand over the next twenty years is expected to come
almost exclusively from developing economies. This is a major reason why GE must continue to
adapt sufficiently to local conditions and pricing in these geographic areas and conduct good market
intelligence.
Technological Trends

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This chart isn’t clearly visible in this document due to size restrictions but it is available at
http://envisioningtech.com/health/. The technologies presented in this chart would have seemed unreal
30 years ago, but most people today would agree that many of these technologies are entirely feasible
within the next two decades.

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These are some of the most interesting technologies in this chart:
 Regeneration
o Artificial general-purpose cells, muscles, retinas, and vascular systems
o 3D printed organs
o Tissue regeneration
o Synthetic blood
 Treatments
o 3D printed drugs
o Bioelectronic drugs
 Biogerontology
o Genetic engineering
 Telemedicine
o Full brain simulation
o Robotic surgery
o App-driven diagnostics
 Diagnostics
o Blood stream, tissue-embedded, ingestible, and epidermal sensors
o Open health records
o Data-driven diagnostics
o Question answering computing systems
 Augmentation
o Telescopic & microscopic vision
o Auditory vision substation
o Neuroprosthetics
GE Healthcare currently provides technologies that can support or innovate in these areas.

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Commercial aircraft passengers want airplanes in the future to use less fuel, release fewer carbon
emissions, be powered by non-fossil fuels (eg. Biofuels), and emit less noise. GE Aviation is currently
meeting most of those demands now with their newest and most advanced airplane engines.

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When it comes to jet engine design, the turbine is connected by a shaft to the compressor at the front,
thus turning it and keeping the whole process running. In some newer jet engines, air and hot gases in
the combustor rotate with the compressor and turbine. To achieve this, an orbiting combustion nozzle
(OCN) turns with the compressor to inject the air into the combustion chamber as a vortex. The vortex
is maintained by blades that rotate on the inner casing of the combustor. This swirling action helps
mix the air and fuel for a more complete and much quicker combustion. The hot gases then exit, also
in a vortex, to drive the turbine.
GE Aviation’s ADVENT (Adaptive Versatile Engine Technology) allows multiple streams of air to
flow from the compressor to the turbine. This approach enables the engine to operate more efficiently
across its operating range. This is just one benefit out of many in GE’s newest and greatest engines.
They enable some of the lowest emissions in the market, require minimal core maintenance, and
contain the lightest-weight composite material available.

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A solar-powered airplane is scheduled to fly from San Fransisco to New York using no other fuel
except solar energy. Solar cells are placed on the top of the wingspan and horizontal stabilizer of the
plane. The solar cells convert sun rays directly into electricity which powers the electrical system in
the plane. This application of solar energy conversion technology is likely to become more
mainstream in the future in an effort to reduce fuel costs to an extent.

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Solar energy is the most abundant renewable source of energy available. Solar energy could also turn
out to be the cheapest form of energy as solar panels become more efficient in the coming years and
solar factories are built to power entire cities. According to GE, The U.S. 2035 energy goals include
80% of electricity being converted from green energy sources, an 85% increase in renewable energy
investment, and an initiative to make each watt (derived unit of power) cost only $1.

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By 2030, it is estimated that only 496,805 square kilometers of surface area would be required to
power the entire world with zero carbon emissions and with solar power alone.

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In Japan, incredibly innovative wind turbine system revealed itself that is promised to generate two to
three times the power of traditional models. Traditional wind turbines have been cited for their
general inefficiency and loud noise. Researchers found that attaching an inward curving ring around
the perimeter of a turbine's blades increases the focus of airflow faster through the blade zones at two
to three times the speed as before. An improvement in safety from covering the outer edges of the
blades and a reduction of the dreaded noise pollution of older models is just a bonus.
Power grids of the future will be largely decentralized, rely on multiple sources of energy
simultaneously, and allow for up-to-date monitoring of energy consumption and networks. Many
expect these revolutionary, decentralized power grids to be common-place in emerging economies

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globally. GE Energy offers multiple products and services for gas, nuclear, wind, and solar energy
conversion needs and anticipates substantial profits as new power grids are constructed in emerging
markets.
Political-Legal Trends

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This map indicates the level of freedom and rights that citizens have in these countries. Countries that
are free tend to have laws more favorable to economic progress than countries that are not free.
This map indicates the level of corruptness in each country. When dealing with countries with corrupt
governments, more due diligence may be necessary. Practices that may be allowable in corrupt
countries may not be worth pursuing as they would place GE in a negative light globally.

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As indicates by this chart, the countries that are most democratic are primarily in Europe. Many of the
emerging economies and resource-rich countries that GE should focus efforts on rank towards the
middle of the list and some are even at the bottom. Interestingly, the United States isn’t even in the
top 15 on this list.
Sociocultural Trends

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This map shows a breakdown of healthcare spending per person in each state of the United States in
2009. Massachusetts, Alaska, Maine, Delaware, Connecticut, New York, and Rhode Island have the
highest healthcare spending per person. Though GE Healthcare operates in many foreign countries,
this information is relevant because of the division’s expansive U.S. market.

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This chart shows the average life expectancy of citizens in different countries and the per capita
spending per person. Surprisingly, the average life expectancy in Japan is 81.5 yet the per capita
spending is around $2,000. Conversely, the average life expectancy in the United States is almost 76
but the per capita spending is $4,500. This longstanding trend provides opportunity for higher profit
margins in the United States for healthcare companies. The Patient Protection and Affordable Care
Act signed into law in 2010 may have a discernible effect on U.S. per capita spending in the coming
decade.
ANALYSIS OF SOCIETY ENVIRONMENTAL FACTORS
This chart lists the major opportunities and threats facing GE in its external environment.
ISSUES PRIORITY MATRIX

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Probable Impact on Corporation
ProbabilityofOccurrence
High Medium Low
High
High Priority
 Huge demand for
more power grids
by 2050
 $60 trillion of
infrastructure
needed in
emerging
economies by
2030
 International oil
exploration and
production is
higher than ever
High Priority
 Unions causing
increasing pension
obligations
 Increased demand
for lighter and
more energy-
efficient aircraft
turbines
Medium Priority
 Solar panel prices
are plummeting
Medium
High Priority
 Global demand
for solar energy
increases 30%
per year
Medium Priority
 Continuing
economic
recession and
political
uncertainty
 More government
regulations
 Wind energy
market will take
off during next 20
years
Low Priority
 Health-related
spending will
increase in U.S.
Low
Medium Priority
 N/A
Low Priority
 N/A
Low Priority
 N/A
This is the issues priority matrix. It helps classify external events by likelihood of occurrence and
probably impact on a corporation to assist in determining the most logical and pressing actions to take
in the future.

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Industry Matrix
Key Success
Factors
Weight GE Energy
Rating
GE Energy
Weighted
Score
ABB Rating ABB
Weighted
Score
International
Expansion
.20 5 1.00 5 1.00
Innovation .20 5 1.00 4 .80
Distribution
Systems
.20 5 1.00 4 .80
Product and
Service
Variety
.15 5 .75 5 .75
Sustainability
Efforts
.10 5 .50 5 .50
Promotional
Efforts
.10 5 .50 3 .30
Customer
Service
.05 5 .50 5 .50
Total 1.0 5.25 4.65
The industry matrix summarizes key success factors within an industry. As shown in this table, the
matrix gives a weight for each factor based on how important that factor is for success within the
industry. In this table, GE Energy is key success factors ratings are compared to those of its biggest
competitor—ABB. GE Energy is such a well-managed division with such exhaustive resources and
capabilities, that I saw no justification to give it lower than a perfect score. ABB will have a difficult
time keeping up with GE Energy now and in the future within the energy industry.
External Factor Analysis Summary (EFAS Table)
External Factors Weight Rating Weighted
Score
Comments
Opportunities

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Number of people connecting to
power grids will grow exponentially
by 2050
.15 5 .75 Increased demand for
reliable gas and wind
turbines, solar solutions,
and related equipment
and services
$60 trillion of infrastructure spending
is needed in emerging economies by
2030
energy, transportation,
industrial equipment,
services, etc.
33,000 more airplanes will need to be
built by 2030
.10 5 .50 Continued demand for
aircraft engines, civil
systems, and related
services
Health-related spending will balloon
in the U.S. in coming years
healthcare equipment,
software solutions, and
services
Global demand for solar energy
increased 30% annually in last 20
years
.05 4 .20 Persisting as top
innovator in this area is
key as market expands
further
Threats
The present fiscal situation, repeated
debt-limit controversy and tax reform
negatively impact capital investment
.15 5 .75 50% of GE revenue
comes from the financial
industry
Because of oversupply, solar panel
prices have plummeted 82% since
August 2009
.10 4 .40 Heavily-subsidized
Chinese manufacturers
flood world with cheap
solar panels
Because of approximately 108
different union local bargaining units,
GE will face significant pension
obligations in the coming years
.10 4 .40 In 2011, 15,800 GE
workers were
represented by Unions
Uncertainty in wind energy industry
due to political uncertainty and new
legislation that weakens
.10 4 .40 Political uncertainty in
Europe and push-back
against

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environmental laws environmentalism in
U.S.
GE’s commercial lending and leasing
business operates in a highly
competitive environment.
.05 4 .20 Banks are loaded with
liquidity, they’re starving
for growth, and interest
rates are lower than ever
Total Scores 1.00 4.60
An EFAS (External Factors Analysis Summary) table is one way to organize external factors into the
generally accepted categories of opportunities and threats as well as to analyze how well a particular
company’s management (rating) is responding to these specific factors in light of the perceived
importance (weight) of these factors to the company. Because GE is one of the most competently-
managed companies in the world with strategies that indicate that its executives are deliberately
responding to these opportunities and threats to the best of their ability, I gave the company high
scores.
TASK ENVIRONMENT
Even though GE currently attains about half of its revenues from its GE Capital business, the other 7
business divisions such as GE Aviation, GE Energy, and GE Transportation are global. GE Capital is
currently shrinking in size and the other divisions are having more priority placed on them. The
pressure for coordination is strong and the pressure for local responsiveness is moderately weak.

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In this map of strategic groups, GE is located among companies with very extensive products and
services and moderately high prices.

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THREAT OF NEW ENTRANTS
Medium Force – GE may face formidable and innovative new entrants in the energy fields when it
comes to renewable energy.
BARGAINING POWER OF BUYERS
Medium Force – Buyers do not have a high bargaining power in the industries in which GE conducts
business.
THREAT OF SUBSTITUTE PRODUCTS OR SERVICES
Medium Force – GE is constantly looking for opportunities to offer a wide range of innovative
products and services in each business division.
BARGAINING POWER OF SUPPLIERS

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Low Force – GE is the unequivocal leader in most of its supply chains.
RIVALRY AMONG COMPETING FIRMS
Medium Force - GE faces strong competitors in all of the industries in which it competes. However,
GE has such a competent management staff and a vast amount of resources, no competitor seriously
threatens the standing of the company. Commercial lending and leasing business is facing fierce
competition.
RELATIVE POWER OF UNIONS, GOVERNMENTS, SPECIAL INTEREST GROUPS, ETC.
Medium Force – Unions make it more difficult for GE to conduct everyday business activities.
SUMMARY OF EXTERNAL FACTORS
Opportunities
1. Number of people connecting to power grids will grow exponentially by 2050
2. $60 trillion of infrastructure spending is needed in emerging economies by 2030
3. 30,000 more airplanes will need to be built by 2030
4. Health-related spending will balloon in the U.S.
5. Global demand for solar energy increases 30% annually
6. International oil exploration and production spending higher than ever
Threats
1. The present fiscal situation, repeated debt-limit controversy and tax reform negatively impact
capital investment
2. Because of oversupply, solar panel prices have plummeted 82% since August 2009
3. Because of approximately 108 different union local bargaining units, GE will face significant
pension obligations in the coming years

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4. Uncertainty in wind energy industry due to political uncertainty and new legislation that
weakens environmental laws
5. GE’s commercial lending and leasing business operates in a highly competitive environment.
INTERNAL ENVIRONMENT: STRENGTHS AND WEAKNESSES
CORPORATE STRUCTURE
The above organizational chart was updated on February 2011 and displays GE’s top leadership. Each
GE business unit has its own president who reports directly to Jeffrey Immelt, GE’s CEO. Also
worthy of note, GE has increased senior leadership outside of the U.S. by 50% over the past seven
years in order to support operations in emerging markets.
CORPORATE CULTURE

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While former CEO Jack Welch tended to groom generalists, Immelt focused on training executives to
become subject matter experts instead. Immelt’s reasoning was, with greater specialization, new
products and services could be delivered to the market in a timelier fashion, and customer needs could
be met more effectively. Welch has also identified four initiatives that provided the overarching vision
for his 20 years as CEO: globalization, services, six sigma and e-business. Immelt continued those
initiatives and they are among the factors that make each of GE’s business units most similar to each
other. Additionally, GE has a very aggressive environmental initiative and promotes diversity by
upholding various forums, groups, and networks.
CORPORATE RESOURCES
MARKETING
For decades, GE did not have a substantial marketing organization. For decades, GE went by the
assumption that its products and services were so exceptional, that they could practically market
themselves. At best, marketing was considered a superflous support function in most of GE’s
divisions. However, many of GE’s businesses start maturing and its executives realized that they
could not win simply by launching increasingly sophisticated technologies or by taking existing
technologies to new markets.
GE transformed its marketing operations and effectively doubled the size of the marketing
organization from 2,500 people in 2003 to 5,000 in 2010. Marketers throughout the organization were
also given a common framework as a means of measuring success: principles, people, and process.
1. Principles - After a thorough assessment of its expertise and functions, GE came up with
eight disciplines organized into two groups: go-to-market activities and commercial
essentials. They became the core principles driving their marketing organization. They are the
following:
a. Strategy and innovation
b. Branding and communications
c. Sales force effectiveness
d. “New World” skills
e. Market knowledge
f. Segmentation and targeting
g. Value creation and pricing
h. Commercial activation
2. People – GE found that marketers play four roles:
a. Instigators challenge the status quo and look for new and better ways of doing things.
b. Innovators turn marketplace insights into untested products, services, or solutions.

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c. Integrators build bridges across silos and functions and between the company and the
market.
d. Implementers execute on ideas.
3. Process – After GE identified what it wanted from its Marketing department, it started putting
together metrics for evaluation of the marketing teams and started a process called Maturity
Evaluation—surveys which had a list of 35 skills and 140 definitions that defined what
success looked like. Marketing teams throughout GE are rated annually to ensure they are
meeting GE’s new marketing goals.
Product Place Promotion Price
GE Lightspeed VCT
(CT Scanner)
- Warranty is
an option
GE Healthcare’s
website and various
suppliers such as Block
Imaging that can be
contacted by phone or
email
There is print copy on
various websites
owned by GE
Healthcare and Block
Imaging.
$1.6-1.7 million when
fully configured
According to GE Healthcare’s website, the LightSpeed VCT is able to non-invasively capture a 3D
image of any organ in one second and capture images of the heart and coronaries in fewer than five
heartbeats—something no other CT system can offer. In a single rotation, the system creates 64 credit
card-thin images, totaling 40 millimeters of anatomical coverage. These images are combined to form
a three-dimensional view of the patient’s anatomy for the physician to analyze. GE Healthcare
encourages hospitals, medical clinics, etc. to contact it directly through its website.

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The GE Lightspeed and other similar CT scanners may continue to sell more as baby boomers age and
the need for more healthcare rises in the next decade or so. Before too long, it could be replaced by a
more compact and advanced technological device.

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GE could very well have the broadest and deepest online presence of any company. At the time of this
writing, GE has 16 business websites for its businesses and initiatives, 65 websites tailored to various
countries in the world, a widely popular Facebook page, several YouTube channels, a Twitter
account, and more. If that isn’t enough, GE recently launched an enormously popular, widely-
acclaimed advertising campaign called “Agent of Good,” which stars former Matrix trilogy movie
star, Hugo Weaving, portraying his iconic Agent Smith character.
GE routinely posts print advertisements on social media websites and its own websites such as the
ones below:

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Another example of GE’s marketing might is demonstrated by GE’s FlexEfficiency* 60 Truck Tour.
This tour has covered over 30,000 miles throughout the U.S. in the last few months. More than 4,000
people have visited the trailer to learn about GE’s latest innovation in power generation: it’s
FlexEfficiency* 60 Power Plant portfolio. The 18-wheeler features twin slide-out pods packed with
3D models, interactive videos and more.

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FINANCE

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GE has an investor-friendly capital allocation policy. It issued $7.2 billion in dividens in 2012 and it
expected to issue $8 billion in dividends in 2013. It is consistently buying back more shares every
year and could buy back as much as $10 billion in shares in 2013. GE is positioned to spend
approximately $8 billion on strategic acquisitions in 2013.

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According to Forbes, GE is #21 in sales, #24 in profit, #44 in assets, and #6 in market value. GE’s
market cap is currently $243.74 billion. GE is doing exceptionally well despite the headwinds caused
by the 2008 recession.

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The chart above from Morningstar.com, shows the trends of GE’s financials from the
last ten years. GE was negatively affected by the recession as indicated by the 2009,
but its performance has reached stable levels again.
This chart shows GE’s key ratios from the last ten years. GE’s net margin %, return
on assets, and return on equity dipped noticeably in 2009, but those ratios are starting
to reach normal percentages again.
RESEARCH AND DEVELOPMENT (R&D)
GE Global Research is GE’s renowned industrial research organization and provides innovative
technologies for all of GE’s businesses. It has been in existence for over 100 years and has provided
GE an edge over its competitors when it comes to innovation. GE Global Research is headquartered in
Niskayuna, NY, and has facilities in Bangalore, India, Shanghai, China, and Munich, Germany. It has
more than 2,800 employees (more than 1,000 are PhDs).GE’s total R&D budget in 2008 was $4.3
billion, while the budget for GE Global Research was $555 million. In 2008, GE had 2,537 U.S.
patents while GE Global Research had 560.
As listed on its website, GE Global Research is focused on developing innovations in the following
areas:
1. Advanced Technologies
a. Sustainable Energy
b. Advanced Propulsion
c. Nanotechnology

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d. Electronic Materials Systems
e. Molecular Imaging & Diagnostics
f. Energy Conversion
2. Aero-Thermal & Mechanical Systems
a. Diesel Engines: Breaking the Paradigm
b. More Efficient Power on Land or in the Air
c. Waste Not, Want Not
3. Chemistry & Chemical Engineering
a. Batteries for the Hybrid Age
b. How Green is Green?
c. Exploring the Energy Frontier
4. Diagnostics & Biomedical Technologies
a. Magnets That “See” Instead of “Stick”
b. An Extra Set of Eyes for Doctors
c. Making the “Not So Obvious” Obvious
d. Proper Growth Requires Proper Care
e. Discovering the Depths of Cancer Cells
5. Electrical Technologies & Systems
a. Get Plugged into the EV Revolution
b. Integrated Circuits that can take the Heat
c. Reining in the Sun and the Wind to our Grid
6. Manufacturing & Materials Technologies
a. Composites
b. Nondestructive from Cradle to Grave
c. Turning X-Rays into Light
d. Corrosion Experts
e. Taking the Heat
7. Software Sciences & Analytics
a. A New Way to Monitor and Manage the Power Grid
b. Reducing Waste though the “Power of 1%”
c. Using Data Analysis to Help Save Lives
d. An Algorithm for Trains

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GE gradually increases how much it spends on R&D, year after year. From 2011 to 2013, GE spent
$16-17 billion on R&D.

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GE's vision for an "industrial Internet" includes an interconnected web linking all types of machines
and devices. This interconnectivity can be used to better monitor energy usage and allocate power
more efficiently.

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GE’s version of the smart grid is among the most efficient, reliable, and secure. It includes:
 Flexible generation
 Wide area protection
 A distribution Management System (DMS)
 An outage Management System (OMS)
 An energy Management System (EMS)
 Solar power
 Smart metering
 Wireless monitoring & control
 Fiber optic communications
 A battery energy storage system
 Wind turbines.

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This is General Electric’s FlexEfficiency* 60 Combined Cycle Power Plant portfolio which was
unveiled last year in 2012. It defines a new standard for high efficiency and operational flexibility
when it comes to converting natural gas and heat into electricity. It is at the top of its class in regards
to delivering reliable, responsive power to the energy grid in countries that use 60Hz as the frequency
of their alternate current electricity—United States, Canada, and Mexico. This power plan can
generate enough energy to power more than 600,000 homes. A newer version has already been
designed for countries like the U.S. that use the 60Hz frequency.
Some of its benefits include:
 More than 61 percent baseload efficiency
 Two-year construction schedules
 One button push start in under 30 minutes
 Smaller carbon footprint — 12,700 metric tons of CO2 per year
In 2011, GE received more U.S. patents for clean energy than any other company in the world. The
vast majority of GE's 184 "green" patents were related to wind energy, and the company topped the
runner-up, Samsung, by 56 patents.

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OPERATIONS AND LOGISTICS
GE seems to use the job shop methodology in most of its manufacturing centers where turbines,
locomotives, and other large equipment are built. It uses more automation at centers where smaller
equipment such as solar panels is produced.
GE is in its third year of GE Advantage, its process-improvement program. The task of its teams is to
improve 40 big processes in the company. The program saved an astonishing $800 million of margin
in 2012. On example is its “Transportation: Requisition to Platform” process, which facilitates its new
product launches. Results so far include: 80% system reuse; a six month reduction in cycle; and a
35% reduction in sole-source suppliers and overtime.
The infographic above presents a selection of some of GE’s biggest locations in the U.S. where build
the latest generation of steam and turbines, generators, and other high-tech products.

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This photo was taken at GE’s Greenville, SC plant. GE’s Greenville plant is the largest gas turbine
manufacturing plant in the world, with over 3,000 employees producing products for domestic and
global export.
Since GE is an industrial company, it relies on third parties for raw materials, parts, and components
used in its products. This reliance exposes GE to fluctuations in the prices and availability of these
materials, parts, and components. Quality issues experienced by third-party providers can also
adversely influence the quality and effectiveness of GE’s products and services.
In 2012, GE said it will expand its aviation business, investing $580 million in new plants, and adding
more than 400 new aviation-related jobs in manufacturing, research and development over the next
three years. In 2013 it will open new plants in Ellisville, Mississippi; Auburn, Alabama; and Dayton,
Ohio. The company expects its deliveries of commercial and military jet engines to grow from 3,000
in 2011 to 3,400 in 2012 and 3,800 in 2013.
GE is expanding internationally at a fast pace. In 2010, it announced that it was investing more than
$2 billion into its efforts in China and $500 to its Brazil operations. Deals have also been negotiated in
India and the Middle East. GE is focusing its efforts on areas including oil, gas, renewable energy,
mining and transportation in emerging economies and resource-rich countries such as these.

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Something of upmost interest, in November 2012, GE Aviation acquired Morris Technologies, a 3D
printing company, to make parts for jet engines. Morris Technologies uses a number of 3D printing
machines, all of which work by using a digital description of an object to build it in physical form,
layer by layer. Among the 3D printing technologies used by Morris Technologies is laser sintering.
This involves spreading a thin layer of metallic powder onto a build platform and then fusing the
material with a laser beam. The process is repeated until an object emerges.
HUMAN RESOURCES MANAGEMENT (HRM)
Career Development
GE has strong career development programs to develop the core competencies that it values in
employees. They range from entry level leadership programs offered to college graduates to continual
leadership development for all levels of the company.
In addition, the employs the following practices:
 On-campus recruiting
 Internships and Co-ops
 Offers new grads the ability to defer working for GE for two years in order to join the Teach
for America program.
John F. Welch Leadership Development Center

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Every year, thousands of GE’s employees ranging from entry-level employees to its highest-
performing executives make a trip to Crotonville, NY which, as GE describes it, is a transformative
learning experience that, for many, becomes a defining career event. For more than 50 years, this
center has been considered a forefront of real-world application for cutting-edge thinking in
organizational development, leadership, innovation and change. It provides learning opportunities and
comradeship for its employees in such a way that other companies may want to duplicate it to attain
similar results.
U.S Veterans
GE announced last year that it will hire 5,000 U.S. military veterans. The company already employs
more than 10,000 veterans and will add 5,000 more in the next 5 years.
Diversity
GE claims on its website that relies on a culture of leadership and diversity to drive innovation and
productivity. GE has what it calls “Affinity Networks” that comprise of the following organizations:

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 African American Forum
 Asian Pacific American Forum
 Gay, Lesbian, Bisexual, and Transgender Alliance
 Hispanic Forum
 Veterans Network
 Women’s Network
Additionally, GE has won the following award & accolades:
 Top 10 of Diversity MBA Magazines 50 Out Front Companies for Diversity Leadership
 Woman Engineer Magazine's Top 50 Employers
 Equal Opportunity Magazine's Top 50 Employers
 Minority Engineer Magazine's #1 Employer
 CAREERS & the DisABLED Magazine's Top 50 Employers
INFORMATION TECHNOLOGY (IT)
In 2008, according to GE’s former Chief Information Officer, Gary Reiner, the biggest role of GE’s
IT is to assist in speeding up the innovation process or the product-development process. According to

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him, GE spent a lot of time looking at tools that will help us develop the next great engine more
quickly and more effectively.
In 2008, GE’s IT organization had a budget that was growing and had a worth of $4 billion, the size
of a Fortune 500 company. Not only that, Reiner reported directly to GE's CEO, Jeff Immelt instead
of the CFO which is typical in other companies. And he ran GE's massive Six Sigma initiative since
1996 and also oversaw the company's $55 billion of annual sourcing.
On March 18, 2013, Jamie S. Miller was named GE’s next CIO. She replaced Charlene Begley, who
GE said had taken a leave of absence for personal health reasons. On GE’s website, Jamie S. Miller’s
job description says that she leads the information technology teams across GE to enable speed,
growth, and profitability. It is unclear whether Miller plays as c lose a role as Reiner did in GE’s Six
Sigma initiative or its sourcing operations.
As mentioned earlier, GE has 16 business websites for its businesses and initiatives, 65 websites
tailored to various countries in the world. The company has an exceptional global presence and it
would take a knowledgeable and effective IT team in order to manage, build, and maintain that
amount of data. It also takes a robust IT staff to develop products such as advanced visualization
software used for healthcare, navigation and guidance systems for aviation, distribution management
systems, outage management systems, energy management systems, wireless monitoring functionality
and more for customers in multiple industries.

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SUMMARY OF INTERNAL FACTORS
Internal Factors Weight Rating Weighted
Score
Comments
Strengths
Overall revenues from emerging
markets which include regions such as
Middle East, Africa, Canada,
Australia, Russia, Latin America,
China and India expanded by 18%
since 2001
.10 5 .5 Focusing on serving
customers in emerging
markets is critical for
long-term success
GE's expertise in energy,
transportation, and health care will
prove critical for developing
economies in the decades ahead.
.07 5 .35 N/A
Since 2005, GE Energy has double in
size to $43 billion in annual revenue,
and the aim is to double it once more
by the end of this decade.
.07 5 .35 N/A
GE controls more than 44% of the gas
turbine market, topping its closest
competitor, Siemens, over the past
.03 5 .15 N/A

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decade.
Aviation backlog increased 24% to
$99 billion at the end of 2011,
reflecting a strong pipeline fueled by
emerging market demand. This could
be largely due to years of R&D
investment.
.03 5 .15 N/A
GE's transportation revenue grew 45%
in 2011, while profits climbed over
100%. Orders surged 67% in
transportation for the first quarter of
2012.
.03 5 .15 N/A
GE Advantage, it’s ongoing process-
improvement program which is
improving on 40 big processes
throughout the company, has realized
$800 million of margin improvement
in 2012
.06 5 .3 N/A
GE Global Research is focused on
developing breakthrough innovations
in areas such as molecular imaging
and diagnostics, energy conversion,
nanotechnology, advanced propulsion
and security technologies
.07 5 .35 N/A
GE Capital's revenue declined from
2010 to 2011, but profitability
doubled to $6.5 billion, representing
31% of total segment profits largely
because focusing on middle-market
lending boosts margins and increase
stability
.04 5 .20 N/A
Weaknesses
Pension costs could weigh on cash
flow down the road because of an
increase in retirees and benefit
payments
.10 4 .40 Currently, this weakness
is far outweighed by GE
strengths and
opportunities

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Low stock prices due to financial
downturn
strengths and
opportunities
Ongoing legal proceedings likely to
hamper corporate image
strengths and
opportunities
GE Capital's Commercial Lending
and Leasing (CLL) operation has yet
to realize a turnaround from its
shedding of bad loans
strengths and
opportunities
As the above chart indicates, I was able to find far more strengths than weaknesses in GE. I believe
that GE’s greatest strengths are:
 its ongoing success and focus in emerging markets
 its expertise in energy, transportation, and health care
 The success of its energy business unit and other business units relating to supporting
infrastructure growth
 The size, scope, and focus of its R&D
I believe that GE’s core competencies include:
 Its R&D prowess, its prevalent use of quality management tools
 Its IT system which enables a fast innovation and product-development process
 The fact that its large business units can share knowledge about best practices and directly
benefit each other at will
 Many others to be considered

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Tim Enalls
High-growth emerging markets accounted for 18% of the core industrial business in 2001, which
more than doubled to 37% in 2011. GE’s spectacular success in emerging markets is expected to
continue.

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As indicated by the above graphic, GE has pinpointed the resource rich and high-growth countries it
will focus on within the next few decades and continually researches these target markets.
ANALYSIS OF STRATEGIC FACTORS (SWOT)
SITUATION ANALYSIS
Strategic Factor Analysis Summary (SFAS) Matrix
Strategic Factors Weight Rating Weighted
Score
Comments
Strengths

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Tim Enalls
Overall revenues from emerging
markets which include regions such as
Middle East, Africa, Canada,
Australia, Russia, Latin America,
China and India expanded by 18%
since 2001
.25 5 1.25 Focusing on serving
customers in emerging
markets is critical for
long-term success
Weaknesses
Low stock prices due to financial
downturn. high debt-to-equity ratio,
dividends being cut, riskiness of
financial industry, etc.
.15 4 .60 This weakness is far
outweighed by GE
strengths and
opportunities
Opportunities
Number of people connecting to
power grids will grow exponentially
by 2050
.25 5 1.25 Increased demand for
reliable gas and wind
turbines, solar solutions,
and related equipment
and services
$60 trillion of infrastructure spending
is needed in emerging economies by
2030
.25 5 1.25 Increased demand for
energy, transportation,
industrial equipment,
services, etc.
Threats
The present fiscal situation, repeated
debt-limit controversy and tax reform
negatively impact capital investment
.1 5 .50 50% of GE revenue
comes from the financial
industry
The SFAS matrix above shows what I believe are the most important known factors that affect GE’s
present and future performance. Because of the number of people who will connect to the power grid
and the amount of money that will be spent on infrastructure in emerging economies within the next
decades, serving customers in those markets is paramount to GE’s success.
REVIEW OF MISSION AND OBJECTIVES

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Tim Enalls
As I showed before, here is the mission statement that is on GE’s website:
These are the five strategies that GE is implementing as of 2013 in order to create value over time and
gain competitive advantage:
1. It has remade GE as an “Infrastructure Leader” with a smaller financial services division.
2. It is committed to allocating capital in a balanced and disciplined way. GE’s top priority is
growing the dividend and it is one of the top companies in regards to dividend payments.
3. It has significantly increased investment in organic growth, focusing on R&D and global
expansion.
4. It has built deep customer relationships based on an outcomes oriented model.
5. It has positioned GE to lead in the big productivity drivers of this era.
a. It will lead in the shale gas revolution.
b. It is extending GE’s lead in advanced manufacturing.
c. It is making a major investment in software and analytics.
This is also the portfolio strategy that GE aims to follow in the coming years:

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Tim Enalls
On the most part, this mission and these objectives should not be changed. GE is making I clear that it
wants to be the global leader in its infrastructure businesses.
STRATEGIC ALTERNATIVES AND RECOMMENDED STRATEGY
STRATEGIC ALTERNATIVES

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Tim Enalls
GE is actively fine-tuning its strategy to meet the energy, infrastructure, and healthcare demands in
emerging markets. To be honest, the strategies I propose below were likely already decided upon
years ago by GE executives who have many years of experience in these businesses and industries.
Not only that, these executives are among the brightest and most conscientious in the world.
The following are strategic concepts, approaches, alternatives, and considerations that would be of
importance to GE:
The strategic sweet spot is where a company is able to satisfy customers’ needs in a way that rivals
cannot, given the context in which it operates. GE continually researches and develops products while

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Tim Enalls
taking into consideration the customers’ needs and its company’s capabilities. The features and
benefits of its products and services are designed specifically to meet customer needs. While GE
hasn’t appeared to find many long-lasting propitious niches to fill, it has the financial backing, talent,
and knowledge to make it capable of continually meeting customers’ needs. A propitious niche is an
extremely favorable niche that is so well suited to a firm’s internal and external environment that
other corporations are not likely to challenge or dislodge it. A niche is propitious to the extent that it
currently is just large enough for one firm to satisfy its demand.
TOWS MATRIX
Strengths
S1. Overall revenues from
emerging markets which
include regions such as
Middle East, Africa,
Canada, Australia, Russia,
Latin America, China and
India expanded by 18%
since 2001
S2. GE's expertise in energy,
transportation, and health
care will prove critical for
developing economies in the
decades ahead.
S3. Since 2005, GE Energy has
double in size to $43 billion
in annual revenue, and the
aim is to double it once
more by the end of this
decade.
S4. GE Global Research is
focused on developing
breakthrough innovations in
areas such as molecular
imaging and diagnostics,
energy conversion,
nanotechnology, advanced
propulsion and security
technologies
S5. GE Advantage, it’s ongoing
process-improvement
program which is improving
on 40 big processes
throughout the company, has
realized $800 million of
Weaknesses
W1. Low stock prices due to
financial downturn. high
debt-to-equity ratio,
dividends being cut,
riskiness of financial
industry, etc.

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Tim Enalls
margin improvement in
2012
Opportunities
O1. Number of people
connecting to power grids
will grow exponentially by
2050
O2. $60 trillion of infrastructure
spending is needed in
emerging economies by
2030
O3. 33,000 more airplanes will
need to be built by 2030
SO Strategies
S1S2O1O2. Place heavy focus
on customers in emerging
markets in regards to energy,
transportation, and health needs
S4O1O2O3. Continue to
develop increasingly durable and
energy efficient technologies to
gain more of an edge over
competitors in emerging markets
S5O1O2O3. Invest heavily in its
process-improvement program
regarding its core businesses in
emerging markets to save more
cash than competitors in those
regions
WO Strategies
W1O1O2. Continue to seek a
wider profit margin from
businesses in emerging
markets, have a dividend yield
of at least 3%, repurchase
stocks, and instill confidence
about GE in stockholders.

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Tim Enalls
Threats
T1. The present fiscal situation,
repeated debt-limit
controversy and tax reform
negatively impact capital
investment
T2. Because of oversupply,
solar panel prices have
plummeted 82% since
August 2009
T3. Because of approximately
108 different union local
bargaining units, GE will
face significant pension
obligations in the coming
years
T4. Uncertainty in wind energy
industry due to political
uncertainty and new
legislation that weakens
environmental laws
ST Strategies
S4T2T4. Continue to research
and develop new technologies in
regards to solar panels, aircraft
engines, wind turbines, software,
analytics, communications
technologies and more.
WT Strategies
W1T2T3. Having more
advanced solar panels and wind
turbines than competitors when
the demand for these products
pick up may positively affect
the stock price
W1T3. Pay down the pension
obligations to possibly boost
the company’s value and
increase the stock price
The TOWS Matrix above shoes strategies that are generated by combining strengths, weaknesses,
opportunities, and threats into four sets of factors: SO Strategies, ST Strategies, WO Strategies, and
WT Strategies.

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Tim Enalls
GE has primarily followed the differentiation strategy and I believe that it should continue to do so. It
has developed many products that are perceived as unique in the industries where it does business in
such as:
 GE9X aircraft engine
 Evolution® Series Locomotive
 FlexEfficiency* 50 Combined Cycle Power Plant
 CdTe thin film solar module
 Discovery* XR656 digital radiography x-ray system

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Tim Enalls
Since GE follows the differentiation strategy, it can charge a premium for its products. The resulting
brand loyalty of selling unique products lowers customers’ sensitivity to price. Furthermore, a
differentiation strategy creates a better entry barrier than a low-cost strategy and usually results in
higher profits.

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Tim Enalls
While it is usually true that differentiation is not sustained, GE continually introduces new products
with better features than their predecessors in order to stay ahead of the competition. It is for this
reason that I believe GE will continue to generate high profits for many years to come.
GE focuses on all eight of these dimensions of quality when researching and developing its products.
When GE introduces a new product (which it does relatively often compared to many companies)
such as the GE9X aircraft engine, it makes sure to address each of these dimensions of quality on
internal webpages and in YouTube videos:

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Tim Enalls
It appears that GE has all the required skills and resources needed for the differentiation strategy and
most of those needed for the overall cost leadership strategy. GE seems to have all the common
organizational requirements of the differentiation strategy and overall cost leadership strategy. This
must be the case because while GE wants to differentiate its products and services from competitors’
offerings, it also wants to do everything possible to cut unnecessary costs.
Joint Venture – GE forms numerous partnerships with companies to temporarily combine the
different strengths of partners to achieve an outcome of value. To make compressed natural gas
(CNG) more accessible as a transportation fuel, GE Oil & Gas and Chesapeake Energy created the
CNG In A Box system, a compact refueling solution. For every vehicle filled with CNG instead of
gasoline, carbon dioxide emissions equivalents are reduced about 24% or 2.2 metric tons per vehicle
annually.

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Tim Enalls
Value-Chain Partnership - GE has a Supplier Responsibility Guidelines Program whereby it
maintains one-on-one relationships with suppliers and works with them to solve problems.
Additionally, General Electric's Supplier Relationships Policy requires that GE source only from
suppliers who comply with local laws and any applicable GE standards in such sensitive areas as
labor, environment, health and safety. Suppliers must correctly answer a series of questions as part of
GE’s Supplier Certification Program.
Starting in 2012, GE introduced programs aimed at encouraging and rewarding resource-efficiency
initiatives within its supplier community. In that same year, GE awarded its first annual ecoSourcing
Star Awards. This was designed to reward collaboration between GE sourcing personnel and our
suppliers and award categories including water and energy conservation, greenhouse gas reduction,
and resource efficiency. Something worth noting: GE regularly has Supplier Summit throughout the
world that offer opportunities for GE employees to share experiences with peer companies, suppliers,
and government and trade union officials.
GE is widely known for achieving horizontal growth by increasing the range of products and services
offered to current markets and expanding its operations into other geographic locations. Research
indicates that when companies like GE have broad product lines, they also have high survival rates.
For example, GE Energy alone offers at least 52 types of products and 26 types of services for 25
industries.

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Tim Enalls
Although GE doesn’t seem to have any businesses it needs to sell now, GE did sell the second half of
NBC Universal for $18 billion in 2013 in order to use that capital to buy back shares it bought during
the recession. It sold the first half of NBC Universal in 2010 and 2011 for $12 billion and used that
capital to boost its presence in the energy sector. It was recently recommended by one analyst that GE
needs to make acquisitions of small, niche industrial companies all over the world to fill in the gaps in
its industrial businesses: power generation, aviation, rail, mining, and medical-imaging equipment.
GE has made several recent acquisitions to protect its ability to deliver products and sales revenue.
GE is seeking to gain more control over its supply chains after major disruptions due to natural
disasters such as tsunamis, volcanic eruptions, flooding, and even difficult, and unbalanced
negotiations Another reason GE is acquiring businesses in its supply chains is because key suppliers
often dictate the terms to their customers which result in arrangements with significant business risk.
Lastly, a survey conducted by the American Society for Quality (ASQ) showed that 80% of
participants had been adversely affected by a supplier’s inability to meet their needs in the past.
GE’s acquisitions include:
 GE Aviation’s acquisition of a key supplier, Avio, for US$4.3B
 An acquisition of a three-dimensional printing company to make fuel nozzles
 A joint-venture with a component casting company in Montana to make small structural
castings
 A venture to secure access to silicon carbide, a key material used in the manufacturing of
high-tech ceramic parts
Not only that, GE also plans to open several parts factories in low cost areas of the USA. Last summer
GE Appliances announced an in-sourcing effort to bring plastic parts and components in-house in
Louisville; they also plan to bring back production of metal components. GE is also planning to use
its own facility to produce castings for its new generation engines to help regain control.

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Tim Enalls
The following graph shows the 3 year growth rates of GE’s different business segments.
Transportation, Oil & Gas, and Energy Management are GE’s fastest growing segments. However,
Transportation and Energy Management don’t make nearly as much money for GE as many of its
other business segments.
REVENUES 2012 2011 2010 Growth Rate (3 year average)
Power & Water $ 28,299 $ 25,675 $ 24,779 4.53%
Oil & Gas $ 15,241 $ 13,608 $ 9,433 17.34%
Energy Management $ 7,412 $ 6,422 $ 5,161 12.82%
Aviation $ 19,994 $ 18,859 $ 17,619 4.31%
Healthcare $ 18,290 $ 18,083 $ 16,897 2.68%
Transportation $ 5,608 $ 4,885 $ 3,370 18.50%
Home & Business
Solutions $ 7,967 $ 7,693 $ 7,957 0.04%
GE Capital $ 46,039 $ 49,068 $ 49,856 -2.62%
It is difficult to assess the market shares and relative competitive positions of its different business
segments within reasonable time constraints. It would be unwise to invest heavily in GE Capital due
to its negative growth rates. However, even though GE Capital has a negative growth rate, it still
makes GE the most money out of all of its segments.

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Tim Enalls
At GE, industry attractiveness includes market growth rate, industry profitability, size, and pricing
practices, among other possible opportunities and threats. Business strength or competitive position
includes market share as well as technological position, profitability, and size, among other possible
strengths and weaknesses. I believe that the industries that are most attractive to GE are energy,
aviation, and transportation because of the number of people that will connect to the power grid in
emerging markets, the number of airplanes that will be built, and the amount of infrastructure that will
be built in emerging markets in the next couple of decades. GE’s businesses in those industries have
exceptional business strengths/competitive positions.
RECOMMENDED STRATEGY
These are the strategic alternatives I am recommending for GE:
1. Place heavy focus on customers in emerging markets in regards to energy, transportation, and
health needs
2. Continue to develop increasingly durable and energy efficient technologies to gain more of an
edge over competitors in emerging markets
3. Invest heavily in its process-improvement program regarding its core businesses in emerging
markets to save more cash than competitors in those regions

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Tim Enalls
4. Continue to research and develop new technologies in regards to solar panels, aircraft
engines, wind turbines, software, analytics, communications technologies and more.
5. Continue to seek a wider profit margin from businesses in emerging markets, have a dividend
yield of at least 3%, repurchase stocks, and instill confidence about GE in stockholders.
6. Research and develop more advanced solar panels and wind turbines than competitors so that
when the demand for these products pick up years from now, GE will have a first mover
advantage in those markets.
7. Pay down the pension obligations to possibly boost the company’s value and increase the
stock price
8. Continue following the differentiation strategy and develop products that are perceived as
unique in the industries where it does business.
9. Continue to form partnerships with companies to temporarily combine the different strengths
of partners to achieve an outcome of value to all.
10. Continue to sell businesses when they underperform or deviate too far from GE’s core
strengths and use the capital acquired from those deals to invest in core industrial businesses,
buy back shares (return money to shareholders), and increase the dividend yield.
11. Continue acquiring companies in its supply chains to protect its ability to deliver products and
sales revenue and decrease business risk.
12. Make acquisitions of small, niche industrial companies all over the world to fill in the gaps in
its industrial businesses: power generation, aviation, rail, mining, and medical-imaging
equipment.
13. Use the cash from highly profitable business segments with slow growth rates (GE Capital,
for example) to invest judiciously in business units with high growth rates and potential for
growth.
14. Continue promoting a culture of meritocracy where the highest achieving employees are
rewarded the most heavily and the least performing employees are trained or in some cases,
replaced by better talent.
These strategies should be researched, revised as needed, and agreed on by the executive team
unilaterally. Next, these strategies should be documented so that every feasible detail of them can be
sorted out. Lastly, these strategies should be communicated from the top leadership to the employees
below them and feedback and suggestions for improvement should be welcomed.
IMPLEMENTATION
Corporate executives need to envision how GE should be structured ideally based on future trends of
the various industries it operates in and the performance of its business segments. Based on future
demands globally, it would implement strategies that will help its core industrial businesses in power

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Tim Enalls
generation, aviation, rail, mining, medical-imaging equipment, etc. to exploit global opportunities to
the fullest. This will require rotating its most skilled managers globally in order to maintain a strong
knowledge base in the various markets it operates in and will market in. Furthermore, when it comes
to acquisitions, GE should have integration managers establish training programs so that employees
from acquired companies can integrate seemlessly with GE’s workforce.
Like in most multi-industry corporations, the implementers are everyone in the organization.
Managers of all levels need to put together plans for their specific plants, departments, and units to
carry out the overall strategies. Every corporate and business executive down to the first-line
supervisors and employees needs to be involved in the implementation of corporate, business, and
functional strategies that are associated with their areas.
The programs are financially feasible. GE makes more than enough money to undergo restructuring; it
has happened numerous times in the past with great success. The pro forma budgets can be developed
and agreed on. Priorities are appropriate to these programs because they lead to less waste, more
opportunity and strength exploitation, more unity, and less business risk. The timetables implementing
these strategies can range from a few months to several or more years.
Standard Operating Procedures (SOPs) may need to be developed to detail the various activities that
must be carried out to complete these proposed strategies/programs. Like in all companies, the
procedures will need to be updated to reflect any changes in technology, strategy, or external
conditions. Since GE appears to be on a trajectory to continued success, current procedures may not
need to be changed considerably.
EVALUATION AND CONTROL
GE uses PeopleSoft, SAP, and a number of other ERP systems in its different business segments.
Even though it doesn’t integrate the entire company's operations through a single system because of
the immense cost and complexity that would be involved in implementing it, it can still pinpoint
results by geographic areas, units, projects, functions, etc. in each individual business segment. The
information is timely; they are using ERP systems that are widely renowned in the business
community.

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Tim Enalls
GE was listed by Forbes as being one of the top 21 companies that are making IT a competitive
advantage. The chart above shows what impressive business leaders the most about the admired
companies.
I am sure General Electric uses benchmarking to evaluate its functions and activities in cases where
other businesses have more developed strengths than GE. But since GE is one of the top companies
globally, it is likely that it is benchmarked most often by other companies.

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Tim Enalls
Appropriate standards and measures are being used. Here is the scorecard GE uses which I displayed
earlier in this essay:
I am also certain that GE is setting profitability goals for each of its individual business segments.
There are reward systems capable of recognizing and rewarding good performance. GE claims that it
has a culture of meritocracy. Fortunately, managers and employees on several websites back up this
assertion by GE and they believe that their success in this company is tied mostly closely to their job
performance. Perhaps Jack Welch, GE’s former CEO from 1981 – 2001, can be recognized the most
for creating a culture of meritocracy in GE by implementing his 20-70-10 rule which ranked
employees into performance categories of the top 20%, middle 70%, and bottom 10%. With this
system, the top 20% are rewarded in an outsized way that is both soul-satisfying and financially
satisfying; the middle 70% is developed with training and coaching; and the bottom 10% are moved
out so that better talent can be brought in.

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Tim Enalls
CONCLUSION
General Electric can easily be considered by most people to be one of the top five best-run companies
in the world. The knowledge and skill set of GE’s business executives are nearly unsurpassable and
GE’s success validates this truth. In this paper, I not only went into great detail about General
Electric’s current strengths, weaknesses, opportunities, and threats, but I also suggested multiple
strategies which are either already implemented or will likely be implemented in the coming decades.
By all accounts, GE is on the trajectory toward many more decades of market dominance in its core
businesses.
REFERENCES 1
1. http://www.ge.com/ar2012/pdf/GE_AR12.pdf
2. http://www.geaviation.com/
3. http://www.ge-energy.com
4. http://www3.gehealthcare.com
5. http://www.getransportation.com
6. http://www.geconsumerandindustrial.com/

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Tim Enalls
7. http://www.ge.com/company/leadership/board-of-directors
8. http://www.ge.com/company/leadership/corporate-executives
9. https://www.google.com/finance?q=NYSE%3AGE&ei=PA6QUZCqDJ3WlgPl0QE
10. http://www.thestreet.com/story/10910028/1/ge-cuts-bad-deal-with-turkish-bank-sale.html
11. http://www.fool.com/investing/general/2012/11/30/corporate-responsibility-spotlight-general-
elect.aspx
12. http://www.ecomagination.com
13. http://www.youtube.com/user/ecomagination/
14. http://www.businessweek.com/stories/2005-01-16/death-taxes-and-sarbanes-oxley
15. http://www.ge.com/investor-relations/governance/board-of-directors
16. http://www.amazon.com/gp/product/B008UFWPOG/ref=pd_lpo_k2_dp_sr_2?pf_rd_p=1535
523722&pf_rd_s=lpo-top-stripe-
1&pf_rd_t=201&pf_rd_i=0130807842&pf_rd_m=ATVPDKIKX0DER&pf_rd_r=1XZPT3FR
EEP5NJZKRMN7
17. http://www.forbes.com/sites/afontevecchia/2011/09/13/ge-to-redeem-preferred-stock-from-
berkshire-warren-buffet-makes-a-cool-1-2b/
18. http://www.ge.com/investor-relations/governance/ombudsperson-process
REFERENCES 2
1. http://www.csmonitor.com/Environment/Latest-News-Wires/2013/0304/Will-ships-sail-
through-the-North-Pole-by-2050
2. http://www.environmentalgraffiti.com/space/news-solar-flares-end-world
3. http://science.nasa.gov/science-news/science-at-nasa/2010/26oct_solarshield/
4. http://www.globalintelligence.com/insights-analysis/emerging-markets/country-
reports/global-results
5. http://online.wsj.com/article/SB10001424052970204323904577038442922466470.html
6. http://www.boeing.com/commercial/cmo/pdf/2010_Farnborough_Presentation.pdf
7. http://www.forbes.com/sites/kenrapoza/2012/02/13/china-closer-to-joining-shale-gas-
fracking-craze/
8. http://www.bcbs.com/employers/healthcare-trends-report/Chart-2-1b.html
9. http://homehealthcarenews.com/2013/04/wsj-healthcare-spending-varies-widely-by-location/
10. http://www.cmu.edu/energy/key-topics/efficient-energy/index.html
11. http://www.prweb.com/releases/2012/4/prweb9156914.htm
12. http://www.economist.com/node/8908438
14. http://envisioningtech.com/health/
15. http://www.airbus.com/innovation/future-by-airbus/
16. http://www.noticias-aero.info/2012/09/airbus-unveils-its-2050-vision-for.html

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Tim Enalls
18. http://visual.ly/future-solar-energy
19. http://visual.ly/powering-world-zero-carbon-emissions-and-solar-power-alone
20. http://www.energydigital.com/renewable_energy/japanese-breakthrough-in-wind-turbine-
design
21. http://3g4g.blogspot.com/2011/04/smart-grids-again.html
22. http://www.youtube.com/watch?v=raACUsLWzn8
23. http://dailyreporter.com/2011/07/03/regulatory-uncertainty-for-wind-farm-developers/
24. http://www.euractiv.com/climate-environment/wind-power-buffeted-political-un-news-
517655
25. http://www.milliman.com/expertise/employee-benefits/products-tools/pension-funding-study/
26. http://beta.fool.com/reubengbrewer/2013/01/29/pension-funding-is-an-increasingly-
important-issue/22958/
27. http://www.pionline.com/article/20120224/REG/120229908
28. http://www.washingtonpost.com/blogs/wonkblog/wp/2013/03/23/china-might-stop-
providing-the-world-with-cheap-solar-panels/
29. http://insiderlouisville.com/news/2011/09/01/world-wide-over-supply-making-residental/
30. http://online.wsj.com/article/SB10001424127887324449104578314140876408204.html
31. http://www.worldoil.com/February-
2013_EP_spending_to_set_a_new_record_at_644_billion.html
32. http://www.washingtonpost.com/blogs/worldviews/wp/2012/12/05/map-the-most-and-least-
corrupt-countries-in-the-world/
REFERENCES 3
1. http://effectivemarketer.com/2011/07/07/reinventing-marketing-at-ge/
2. http://hbr.org/2010/10/unleashing-the-power-of-marketing/ar/1
3. http://www.businesswire.com/news/home/20130213005817/en/30000-Mile-GE-
FlexEfficiency*-Truck-Tour-Winds-York
4. http://www.gurufocus.com/news/219591/general-electric-looks-like-its-becoming-the-
shareholderfriendly-company-it-once-was-
5. http://www.forbes.com/companies/general-electric/
6. http://financials.morningstar.com/ratios/r.html?t=GE&region=USA&culture=en-us
7. http://www.buffalonews.com/apps/pbcs.dll/article?AID=/20130118/BUSINESS/130119104/1
005
8. http://www.gereports.com/meeting-of-minds-and-machines/
9. http://www.gereports.com/connected/
10. http://ge.geglobalresearch.com/
11. http://abcnews.go.com/blogs/business/2012/02/g-e-to-hire-5000-vets-expand-aviation-
operations/
12. http://www.gedigitalenergy.com/gesmartgrid.htm

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