General Electric abbreviated as GE is a multinational corporation based in the United States of America.

Thomas
Edison founded the company in 1892 through merging of three companies. The companies were Edison General
Electric's, Thomson-Houston Electric companies and Canadian General Electronics. The company dealt with
technology infrastructure, consumer and industrial, and capital finance. General Electric has approximately 223,000
employees in several countries. In 1900, GE launched an industrial research laboratory where domestic scientists
introduced most of their products. General Electric's is the largest producer of electrical appliances, which are
branded as General Electric and Hotpoint appliances.

GE shifted the focus from designing and selling physical products to selling a
combined system of products and services jointly capable of fulfilling specific client
demand
GEs strategy for sustained growth has been undertaken through long range
programs of product development founded through significant investment into
research and engineering facilities. GE is one of the worlds most successful and
admired companies, renowned for its consistently outstanding financial
performance and for the quality of its people and its operations. GE has not overtly
shared an explicit innovation strategy, nor is there an identifiable company policy
from the last 120 years that helps match its innovation goals with the strategic
objectives of the firm.
The review and analysis of GEs industry literature indicates that GE continues to
display behaviours and measurements based on outputs as the GE industry reports
and literature place consistent emphasis on quantifiable outputs. This provides
opportunities for further research to investigate GEs organizational processes which
impact on and generate organizational innovation.

Deliver core technologies for new product introductions, Invent new technology and
new businesses, Harness advanced technologies, Spread technology across GE,
Develop world-class talent, Form technology partnerships and foster collaboration.

GE consists of diversified technology and is a giant is the field of financial services.

Amidst a number of strategies undertaken, co-operation and retrenchment stand out.

Once the organization sets goals and objectives, it needs a strategy to achieve those goals and objectives, thus,
each of the individual business units will have a business-level strategy, such as R&D or marketing, once the
organization has determined its goals and objectives for each of its different levels, then the actual activities of
individuals within the organization necessary to achieve those goals must be specified. Everyone in the firm should

be acting in a way that helps the firm reach its goals. The actions that General Electric takes to encourage employees
to be innovative (time to explore projects, seed money, etc.) are examples of tactics the firm designed to support a
vision of innovation. GE depends on its employees' abilities to create new products. The firm understands that not all
of the products will be successful. However, it expects employees to continue trying new ideas

The successful management of technology and innovation has become one of the
most critical aspects of business today. To recognize the importance of the
management of technology and innovation (MTI) one can simply look at the impact
of those skills on many of the leading firms around the world. Here is a brief
overview of one of the worlds leading technology firms, General Electric (GE).
This involved an innovative way of building structures known as local growth teams
(LGT) and processes that followed five critical principles: Shift power to where the
growth is Build new offerings from the ground up Build local growth teams like new
companies Customize objectives, targets, and metrics to fit the business you want
to grow Have the local growth team report to someone high in the organization so
that appropriate resources are available

The culture of GE is such that their innovation is part of their unifying culture that unites all their business around the
world. So this shows us that cultural uniformity is a big part of the GE, even though there are different department in
division they are all interrelated in the sense that they all contribute to the company's overall result. In GE there is a
higher importance on entrepreneurial, freewheeling, innovative risk-seekers that place little value on seniority.

The consistency of GEs commitment to product innovation was made possible by the steadiness of
the companys leadership, R&D became essential to GEs innovation strategy, because the company
understood that basic and applied research was fundamental to every field it wanted to explore. GE
decentralized its organization and adopted a strategy of diversifying its products and services. It
could sell those products at lower cost than many of its competitors, thanks to efficiencies in
production and knowledge from R&D that had accumulated over the years. The companys
innovation efforts morphed in other ways as well. Jack Welch used the 1990s, the authors say, to
focus less on long-range programs of product development and more on speed to market and
inventions originating through acquisitions of other companies. Under the current CEO, Jeffrey
Immelt, US$16 billion was earmarked for R&D between 2010 and 2012, a huge investment
amounting to about 6 percent of the companys industrial revenues. In the last few years, GE has
funded efforts in reverse innovation and open innovation to prime its future growth.
GEs competitive advantage has always been driven by research, producing countless incremental
improvements and more than a few major breakthroughs, the authors conclude. The scope and reach

of R&D across the companys many diverse businesses has helped to keep its competitors at bay by
keeping the barriers to entry high.

Technology
GENERAL ELECTRICs culture has changed from being a six sigma, bean counter and a
bottom-line-driven organization to become an innovative organization (Hitt, 2009).
Immelts capability to confidently reform for 125-year old organization and its future has
used innovation competence to merge together its dissimilar offerings. Technological
innovations are growing the demand. For example, re-engineering process mapping.
Workouts employee and manager retreats, Ecomagination, and Imagination Discoveries
creativities were on-going (Bucifal, 2009). Doubtfully, it was for an open challenge
commitment innovatively to discovery methods to resolve today's environmental challenges
for market expansion opportunities, product commercialization, and benefits customers
and the society as a whole. GENERAL ELECTRIC enormously invested (Approximately
$100 million) in technology that sets apart from its competitors. With substantially lower
costs, increase access, improve quality and delivers customer value that considerably solves
significant global challenges (Bucifal, 2009).

Despite GEs size and capabilities in the energy sector, it chose to boost innovation by looking outside,
using a novel open innovation strategy to invite ideas from all over the world.