ECON 102 Research Paper. General electric research paper

General Electric Research Paper
Author`s Name
Institutional Affiliation
General Electric Research Paper
Executive Summary
The primary purpose of the GE Company is to offer quality products and services to the consumer countries in a variety range of products. They have strategies that best suit the goals and reason for enabling the company to achieve its primary objectives. The company deals with the issues that have more influence to the society, and they utilize the best technology to overcome the difficult challenges of the people. They provide solutions in health facilities, housing needs, transportation, energy, and finance according to the requirements and demands of people. The company offers different services to the community, such as powering, curing, building, and movement on the entire world. Therefore, the company does not just imagine, but they offer ways on how they can achieve their crucial goals. The corporate intends to provide the best services to the consumers to overcome competition from their competitors. It invests in various research and recent technology to provide quality-based services to its customers, such as living in a world that is free from diseases. Besides, people can have an opportunity to save money and energy as the quality of transport improves depending on the preferences of customers.
For instance, it incorporates the new technologies in healthcare and aerospace aviation to offer the best solutions to the world in different products. It aims at assisting the customers in executing the critical goals of the company for a viable future of the company. However, the company has a vital problem in everyday operations due to the financial crisis. After the departure of Jack Welch, the company incurred severe monetary issues in 2008, as the company stock fell by 42 percent (Biller et al., 2019). Until now, the financial crisis is still a problem to the company. Therefore, it cannot offer the quality of services as needed by the consuming partners. Despite the investment 3 billion from Warren Buffet, the company still has a financial crisis, and it is the main setback to the overall performance of the company.
Organization Background
General Electric (GE) is a firm founded in by Thomas Edison in a town called Fairfield, Connecticut, where it still has its headquarters. It has subsidiaries on the entire world in about 175 countries as it utilizes the opportunities in the contemporary economies. In 200, the company ranked position seven globally as one of the huge companies in the world. It has six divisions, which include healthcare, Home Business Solutions, Energy, as well as GE Capital. It provides different products such as aircraft engines, power, water, healthcare, and household goods and services. The company has various competitors in the market that include Siemens, Mitsubishi, and Hitachi Limited in the industry (Corman et al., 2016).
Jack Welch was a legendary who led the company towards having achievements of its primary goals. In his time, he transformed the company from $25 billion firms to a $130 billion conglomerate with no boundaries in its segments. He had aggressive behavior of pushing employees towards attaining their goals and objectives. He earned the nickn...