Hello All,
My name is Nathaniel Stewart, and I am a senior at the University of Memphis. I am taking a summer class online in Strategic Management. So far, this is a very interesting class, and I hope to learn a great deal during this five-week course. Each one of my posts will relate to a chapter in the textbook. The first chapter is “Introducing Strategic Management.” I will provide some insight into the use of this concept for General Electric.
Currently, General Electic is one of the largest Fortune 500 companies in the world and is involved in many different businesses. General Electric’s business model stretches from building jet engines to providing financial services to its customers, as well as many other business ventures. So how does General Electric keep all of these businesses running efficiently and effectively? The answer is using a strategic management philosophy.
General Electric maintains that their philosophy for strategic management lies in:
1) Sustaining operational excellence and financial discipline.
2) Creating a more valuable business portfolio.
3) Driving organic revenue growth at 2 to 3 times gross domestic product.
4) Retaining a strong corporate team with a strong culture.
5) Managing the company’s risk and reputation.
6) Building an excellent investor base.
7) Leading the board activities by strengthening Board membership.
Source here.
Nate's General Electric Blog 