Ge History, Development and Growth

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On June 24 of the year 2009, GE was able to surpass its target of investing US$ 5 billion in Research and Development through its environmental initiative which is known as Ecomagination. The target was set to be reached on the year 2010, but the company was able to meet the target ahead of time. After the targeted investment was reached on the year 2009, the company then planned on investing an additional US$ 10 billion in Research and Development by the year 2015. The planned investment by the year 2015 aimed to achieve a US$ 20 billion of revenues from the Ecomagination Products, having a generated US$ 18 billion in the year 2009. and on the following year, GE was ranked by Fortune as one of the chosen World’s Most Admired Companies for the 5th consecutive year; and later on, on the same year, the company was ranked as the Top 4 out of 10 America’s Largest Corporations of 2010, with earnings of US$ 11.025 billion. In the second quarter ended June of the year 2010, the company’s revenue fell by 4% to US$ 37.4 billion, and Industrial Sales US$24.4 billion which is 6% lower compared to the same period of the 2009.

General Electric’s Mission

General Electric (GE) does not have an official mission statement, but the company’s mission can be explained through its core values which are: passionate, curious, resourceful, accountable, teamwork, committed, open, energizing, and always with unyielding integrity. Furthermore, the company’s mission can also be found on its Works Equation which is:

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The company’s Works Equation can further be explained as, that General Electric have a persistent drive and passion to invent things that matters and will matter to the whole world. These inventions are those that will help innovate and make the world better. The Works Equation of GE can also be explained as, that the company has the capability and expertise to invent and make products which not all call, but everybody needs. These things builds up the pride of GE, and thus what defines the company as a whole.

General Electric ‘s Vision

General Electric’s official vision statement is “We bring good things to life. ” The company’s vision statement is currently presented on its latest Ecomagination project. The project aims to bring good things to the world by helping reduce wastes and emissions which may harm the environment. Through the company’s environmental initiative, almost thousands of tons of harmful wastes and emissions had been reduced and prevented. GE, while striving to become one of the world’s most successful companies for decades, was able to focus on two things at once: being a leading provider of sustainable and reliable energy; and being a model of a company which looks beyond the needs of the world other than just earning billions of revenues.