Saturday, September 7, 2019

Key Events and Timeline of General Electrics Assignment

Key Events and Timeline of General Electrics - Assignment Example Data collected by State Information Centre for the sales of washing machine from January to October 2010, sales of domestic market shoots up to 25.17%. Increase in urban consumption is also emphasis. Consumption rate is drastically improved and future structures are under planning. Operational profit of GE Consumer &Industrial is 2.1% and revenue is 6.1%. They sell home appliances, industrial equipment and other services related to them (Brooks, 2009). General Electric Company or GE is a multinational company in New York, headquarter is in Fairfield. Company is providing their services in four major sectors. These sectors are Energy, Industry, Technology setup, Capital Finance and last but not least are Consumer. According to Fortune ranking, GE in 2011 is the sixth largest organization is US and also ranked on 14th position for the most profitable setup. The other ranking of 2011 are Interbrand ranked them on 5thfor best global brand, Newsweek gives them 82nd position for green company, Fortune gives them a title of most admired one and kept them on 13th rank and Fast Company rate them as 19th rank in innovative company. In 1890, Edison General Electric Company comes in market by the owner Thomas Edison. In the same year Charles Coffin also host the flag for Thomson-Houston Electric Company. The increase in number of competitor introduces new patterns and strategies. In 1892 the merger of both companies, Thomson-Houston Electric Company and Edison General Electric give the emergence to General Electric. The integration of company takes place in city of New York. Canadian General Electric also came in to being in same era (Shim and Siegel, 2008). The future plans of GE are to introduce new ap pliances and technology which reduce the consumption of energy. Energy refers to electricity. Global Research section of GE makes management strategies to control the use of electricity by consumers in home and industry sectors. Many of the research programs want to help the customers globally and face all the challenges gifted by environment. Researchers of GE are studying the techniques to implement systems that will use smart appliances. The efficiency will increase in grid of power-transmission. We can consider any home having multiple electric appliances like washing machines, microwaves, refrigerators, air conditioners and other are working simultaneously will affect the power consummation on overall basis. Consumer will go to pay less as compared to consummation because of proper management control on out of electricity (Tennent, 2008). The basic aim of GE is to introduce such technology in market which is efficient in electricity usage and reduce the use the emission of gree nhouse gas footprints in air. Key Events-GE Timeline 1876 First laboratory in New Jersey opened by Thomas Addison. 1892 Edison General Electric (formed 1890) and Thomas Houston (formed 1879) merged to for m The General Electric Company 1932 GE Credit corporation formed 1942 First American Jet Engine developed by GE 1981 Jack Welsh becomes CEO 1985 GEnie developed 1989 CNBC Developed 1996 Genie is sold out 2001 Honeywell and GE merger 2003 GE acquires Transamerica finance 2004 Partly acquires Vivendi Universal, and fully, InVision technologies 2006 Acquires IDX and Zenon environmental systems 2007 Acquires Microwave data systems, Smiths Aerospace and Vital Signs 2011 NBC sale to Comcast completed by retaining 48% share. Source: General Electric Company Business Model: General Electric

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