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Ge's human resource management and sustainable programs presentation
- 1. GE's Human Resource Management and Sustainable Programs Lonnie White, Dennis Stovall, Emily Valencia, John Tallafuss, Andrea Stoos Kaplan MBA – GB520-02N Professor Lizzie Nigwenya Scoburg
- 2. Introduction and History • Thomas Edison - Founder and Pioneer • Headquarterd in Fairfield, CT. • One of 12 Original DOW Jones Entities • Manufacturing Since 1879 • The Beginning of Innovative Technolgy: Light Bulb and Phonograph
- 3. GE CultureInnovative Technology • Light Bulb • Phonograph • Movie Projector • Avionic Development • Jet Engines • Energy Supply • Modern Transportation • Media& Satellite Communications
- 4. GE PRODUCTS CT750 HD• Frontline Products • Consistent Revenue • Strong Industrial Segment Growth • Continued Stabilization of Financial Growth
- 5. • $142.6 Billion in Revenue • $15.18 Billion in Net Income • Manufacturing & Distribution • Industry Leader GE PRODUCTS and STATS
- 6. Strategic Human Resources • HR has Power and Primacy • Use Non-Bureaucratic Evaluation System • Face Straight into Charged Relationships • Middle 70% is the Heart of Organization • Flat Organizational Chart
- 7. Sustainable Practices • Ecomagination • Job Enrichment • Recruiting
- 8. Sustainable Practices • Training and Development • Selection • Strategic Compensation
- 9. GE Culture • Collaboratiion • Employee Development • Open Communication and Feedback • Integrity, Human Rights and Health & Safety
- 10. • Negative & Positive Ways to Deal with Economic Downturn • Negative Methods Hurts the Recession More • GE Weathered the Storm in a Positive Way • HRM Best Practices Persevered CONCLUSION
- 11. REFERENCES Airplane Image – Retrieved from: http://onebigphoto.com/airplane-take-off-over-shanghai-china/ Bryne, J.A. (1998). How Jack Welch Runs GE. Business Week. http://www.businessweek.com/1998/23/b3581001.htm CT750 Image 1 – Retrieved from: http://www.capmedplus.com/equipment/ct/GE_Discovery_CT750_HD/ CT750 Image 2 – Retrieved from: http://www3.gehealthcare.com/en/Products/Categories/Computed_Tomography/Discovery_CT750_HD GE Fact Sheet (2014). Retrieved fromhttp://www.ge.com/about-us/fact-sheet GE Fan Logo Image – Retrieved from: http://www.craftaholicsanonymous.net/antique-ge-fan GE Lighting (2013). Bright Ideas for Lighting Your Home Retrieved from: http://www.gelighting.com/LightingWeb/na/consumer/products/fixtures/general- purpose/overview/index/jsp#sthash.DFQaSrQ3.dpuf Male, B (2010). 5 Management Lessons from Jack Welch. Business Inside. http://www.businessinsider.com/5-management-lessons-you-should-learn-from-jack- welch-2010-3#ixzz2yobe3Mfc Osak, M. (2010). Two Best Practices in Sustainability: GE and Nike. Source, Mitchell Osak Online/ Strategy for the C-Suite. Retrieved fromhttp://mitchellosak.com/2010/06/23/two-best-practices-in-sustainability-ge-and-nike/ Oxman, J.A. (2002). The Hidden Leverage of Human Capital. Source: MIT Management Review. 42(4) 2002, 79-88. The History of the Light (2013). Retrieved from http://www.energy.gov/articles/history-light-bulb Waters, R.C. (2009). Evolution of Leadership Development at General Electric: Source: Engineering Management Journal Vol. 21 No. 1. 42-46. Watson, G.H. (1994). Cycles of Learning: Observations of Jack Welch. Business Systems Solutions, Inc. http://asq.org/pub/sixsigma/past/vol1_issue1/cycles.html Man in Forest with briefcase – Retrieved from: http://sustainabilitywiot.wordpress.com/tag/economics/
Editor's Notes
- There are many successful organizations around the country that have contributed to our country's growth and globalization. In this presentation we will discuss one of the greatest companies the professionals and the world will know... GE. This presentation will directly uncover some of GE's Human Resource Management Strategies as well as their history.
- In nearly every home in the world, GE is partly responsible for lighting our every way. The late Thomas Edison founded GE back in 1879, forging one of the greatest organizations on earth. Edison began his research discovering new ways to improve the light bulb. With patents on the ever-famous phonograph machine, his work has not stopped... even in his absence. Since the early years, GE has been a powerhouse in the manufacturing market providing a multitude to products . The company is headquartered in Fairfield, Connecticut. GE is one of the 12 original Dow Jones industrial entities and has grown exponentially by way of acquisitions and mergers. General Electric is a world leading industrial conglomerate. As of December 2012, GE maintains 305,000 skillfully trained and dedicated employees worldwide. This diversified and well trained workforce is a contributing factor as to why the company maintains its position atop Forbes Magazine’s, short list (Waters , 2009). Today GE continues to manufacture the most innovative products our country has ever seen.
- GE has recorded revenue of $142.46 billion dollars and a net Income of $15.18 billion, indicating of how GE has established its dominion with regards to manufacturing and distribution. GE produces a large assortment of products which include consumer electronics, aviation systems and services, marine engines, military engines, washers and dryers, cooktops and wall ovens. This array of innovations serves as an indication to which all historical inventions are noted for, that being the great forerunners. And in this case this great forerunner to these notable products would be the GE Bulb
- As GE’s front-line products continue to provide consistent revenue, the company also designs and distributes parts for aviation, automotive and healthcare. One of the premier innovative products GE has embarked upon is Gemstone spectral imaging, cardiovascular and neuro imaging using the CT750 HD The CT750 HD provides groundbreaking High-Definition images of internal human organs to assist doctors with a cleaner visual of internal scans.
- GE’s innovations in industrial technology has made it renown in the worlds of manufacture and sale for famous brand name goods such as the electric light bulb, phonographs and movie projector to name just a few. Included, along with a notable list of well-known household appliances and electronics, some of the finest industrial accomplishments by GE involve avionic development, jet engine manufacturing, financing and energy supply, modern transportation, innovational media and satellite communications. According to the GE’s 2013 Annual Report, earnings from continuing operations increased 4% to $15.2 billion in 2013 and increased 4% to $14.6 billion in 2012, reflecting strong industrial segment growth and continued stabilization in financial services during the last two years. The data below indicates how well the company can bounce back and sustain throughout the years. Being able to manage financially within the means and expectation of the organization is critical.
- Jack Welch stated six directives towards people management: elevate HR to a position of power and primacy in the organization and make sure HR people have the special qualities to help managers build leaders and careers, use rigorous, non-bureaucratic evaluation system, monitored for integrity with the same intensity as Sarbanes-Oxley Act compliance, create effective mechanisms, i.e. money, recognition, and training, to motivate and retain, face straight into charged relationships - with unions, stars, sliders, and disrupters, fight gravity, and instead of taking the middle 70% for granted, treat them like the heart and soul of the organization, and design the organizational chart to be as flat as possible. Under the leadership of Jack Welch the human resources function was brought from third into the organization to second, ahead of the finance department. GE is an excellent example of the positive results of intentional strategic human resources management.
- GE’s Ecomagination is a specifically designed business unit that has been allocated a generous amount of GE’s resources for the purpose of supplying the firms customers, such as giant industries, the home based consumer, diversified economies and their respective business units located all over the world with solutions to their energy conservation needs. These needs include energy, water use, waste and carbon emissions, to name a few and the list is growing-globally year by year. General Electric as focuses on job enrichment in order to engage its employees. In keeping with its commitments to provide job enrichment, GE sought ways to employ innovative measures that would serve their customers and their own sustainability initiatives as well (Osak, 2010). They endeavored to find ways to further develop sustainable solutions that would align their strategic goals of harnessing sustainability as a science and a business globally while integrating the quality of these initiatives throughout their definitive corporate culture. GE focuses a lot of energy on recruiting and finding the right candidates. In order to expand the potential of Ecomagination strategically, GE will probably rely on the tried and true ‘GE Way’ of staff integration which entails recruiting the best and the brightest from virtually every corner of the world and from virtually every business unit that the firm owns-which they’ve done numerous times over the years. The experiences and accomplishments generated by the efforts put into Ecomagination are posed to be absorbed and assimilated throughout GE’s entire internal as well as external infrastructures.
- GE focuses on Training and Development. GE’s training and development standards that have been so very successful in guiding its technical and managerial skill development training- will once again prove their worth. General Electric is also very careful with their staff selections. GE selectively qualified staff will without a doubt be assigned to fit every conceivable aspect where Ecomagination will be poised to strategically engage its targeted goals. GE also utilizes strategic compensation to motivate their employees. With regards to General Electric’s C-suite executives, and others highly trained in the fields of R&D, and energy renewal; these top executives and well those trained specialist’s understand what is to be gained from making Ecomagination a top earner with regards to being on the A-list among GE’s unitary portfolios, suffice it to say that Nobel Prizes are won in this same manner.
- GE collaborative high-performance approach inspires employees to ask tough questions. Employees share best practices and improve every day. The culture is based on open communication. Feedback is encouraged and requested. Listening to the employees is how GE believes you do something as important as what they do. "You see this in our commitment to integrity, human rights, and the health and safety of our employees." GE invests in training employees and developing leaders no matter where they are in the world or what type of work they do. Employees are offered opportunities every day to exercise their creativity while developing themselves and their careers. Jack Welch would refer to GE in his annual letter to shareholders as an evolving company of “A” products, “A” services delivered by “A” employees. Jack Welch was instrumental in transforming the company into a 500 billion dollar enterprise during his 20 year tenure as CEO of General Electric. One of the firms most strategic and prolific goals are to thoroughly integrate HRM into every facet of the organization. (Mello, 2011) GE’s corporate culture focusing on ensuring that the company is innovative in its products and practices. They put much emphasis on training and developing their employees and collaboration. General Electric strive to use the best practices and encourage open communication with the organization. They enact business with integrity and with a concern for human rights, health and safety.
- During economic downturns it is crucial for an organization to cut back on spending. It can ultimately involve the closing down of some unprofitable units and unfortunately involves the employees who staff these particular units. Ruthless downsizing is well known and it still exists in many business arenas. This disruptive business practice can impair the labor market and extend the damages inflicted during recessionary periods. Through ethical practices during economic downturns, more positive results can be achieved. Dealing with these challenges positively is the GE way and it was Jack Welch who instituted steps in which to confront these unfortunate occurrences; through the channeling of communications focused upon alternatives in which to –‘weather the storm’- to every member throughout the GE Corporation. It is through executive actions and organizational accountability such as this that industry high standards are preserved and HRM best practices persevere on the behalf of everyone who finds they have to work for a living (Oxman,.2002).