When Thomas Alva Edison, in his lab, produced one of the spectacular achievements of the 19th century- the Electric Bulb, who could estimate that this Techie will go on to create a world leader in the field of innovation. In 1889, Morgan, Dexel and Co. took keen interest in Edison's business interests in electricity related firms and led to the foundation of the Edison General Electric Company in New York in 1889. From there on, GE has gone on to not only manufacture commodities of electrical utilities but also entered the fields of Aviation,Healthcare etc.
Peeping into our own history (One of the finest scientists and business acumen of the 20th century and an example of a techie mind who ventured into business utility. An inspiration for many engineers who aspire to be leaders in global business environments and definitely- an inspiration for me coming from the same electrical engineering background and aspiring to take first steps in the global business environment with a technology firm)
Ideally, one of the most innovative and most ethical company in the segment of technology, this New York based multinational conglomerate has exploited the segments of Energy, Infrastructure, Consumer segment, Industry and Finance, besides recent exploits in medicine.
Having said that, GE has never been behind in the field of computing. The GE 4010, GE 4020, and GE 4060 real time process control computers, the DATANET-30 and Datanet 355 message switching computers- their applications can be traced even today in the energy sector which requires switching circuits and power management centers which require real time control and operations in a complex power systems. GE breakers can still be found in the switch-yards of major power generating and distributing companies.
Products :-
GE's divisions include GE Capital, GE Power & Water, GE Oil & Gas, GE Aviation, GE Healthcare, GE Transportation, and GE Home & Business Solutions.
Through these businesses, GE participates in markets that include the generation, transmission and distribution of electricity (e.g. nuclear, gas and solar), lighting, industrial automation, medical imaging equipment, motors, railway locomotives, aircraft jet engines, and aviation services. Through GE Commercial Finance, GE Consumer Finance, GE Equipment Services, and GE Insurance it offers a range of financial services. It has a presence in over 100 countries.
Since over half of GE's revenue is derived from financial services, it is arguably a financial company with a manufacturing arm. It is also one of the largest lenders in countries other than the United States, such as Japan. Even though the first wave of conglomerates (such as ITT Corporation, Ling-Temco-Vought, Tenneco, etc.) fell by the wayside by the mid-1980s, in the late 1990s, another wave (consisting of Westinghouse, Tyco, and others) tried and failed to emulate GE's success.GE also produces General Imaging digital cameras.
It was announced on May 4, 2008 that GE would auction off its appliances business for an expected sale of $5–8 billion.However, this plan fell through as a result of the recession.
An evolution in the locomotive ( an example of GE innovation)
An Overview of the company recent performances (Wikipedia) :-
Type
| Public |
|---|---|
| Traded as |
|
| Industry | Conglomerate |
| Founded | Schenectady, New York (1892) |
| Founder |
|
| Headquarters | Fairfield, Connecticut, U.S. |
Area served
| Worldwide |
Key people
| Jeffrey R. Immelt (Chairman, CEO) |
| Products |
|
| Revenue | US$ 146.045 billion (2013) |
Operating income
| US$ 26.267 billion (2013) |
Net income
| US$ 13.057 billion (2013) |
| Total assets | US$ 656.285 billion (2013) |
| Total equity | US$ 136.783 billion (2013) |
Number of employees
| 307,000 (2014) |
| Subsidiaries |
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