Electrical Corporation
Essay title: Electrical Corporation
GE is a diversified services, technology and manufacturing company with a commitment to achieving customer success and worldwide leadership in each of its businesses. GE operates in more than 100 countries and employs 313,000 people worldwide. Jeffrey R. Immelt, who replaced management legend Jack Welch, is Chairman and Chief Executive Officer as of September 7, 2001.
GEs products include major appliances, lighting products, industrial automation products, medical diagnostic imaging equipment, motors, electrical distribution and control equipment, locomotives; power generation and delivery products, nuclear power support services and fuel assemblies, commercial and military aircraft jet engines and engineered materials such as plastics, silicones and super-abrasive industrial diamonds. Through its affiliate, the National Broadcasting Company, Inc., GE delivers network television services, operates television stations and provides cable, Internet and multimedia programming and distribution services. Through another affiliate, General Electric Capital Services, Inc., GE offers a broad array of financial and other services.
The Company traces its beginnings to Thomas A. Edison, who established Edison Electric Light Company in 1878. In 1892, a merger of Edison General Electric Company and Thomson-Houston Electric Company created General Electric Company. GE is the only company listed in the Dow Jones Industrial Index today that was also included in the original index in 1896.
GE Mission
GE leaders, always with unyielding integrity:
Are passionately focused on driving customer success
Live Six Sigma Quality ensure that the customer is always its first beneficiary … and use it to accelerate growth
Insist on excellence and are intolerant of bureaucracy
Act in a boundary-less fashion … always search for and apply the best ideas regardless of their source
Prize global intellectual capital and the people that provide it … build diverse teams to maximize it
See change for the growth opportunities it brings … i.e., “digitization”
Create a clear, simple, customer-centered vision … and continually renew and refresh its execution
Create an environment of “stretch,” excitement, informality and trust … reward improvements … and celebrate results
Demonstrate … always with infectious enthusiasm for the customer … the “4-Es” of GE leadership: the personal Energy to welcome and deal with the speed of change … the ability to create an atmosphere that Energizes others … the Edge to make difficult decisions … and the ability to consistently Execute
Top Competitors
ALSTOM makes high-speed train cars, track-laying equipment, and signaling devices, as well as luxury passenger ships, naval vessels, and natural gas tankers. Other products include turbines and generators, and electric drives
Siemens has operations worldwide in the automation and control, information and communications, lighting, medical, power, and transportation sectors. It is also active in the semiconductor sector through a majority stake in chip maker Infineon Technologies. Siemens is Europes largest electronics and electrical engineering firm and one of the worlds leading mobile phone handset makers. The company is expanding its US operations, which have been reorganized under Siemens Corporation.
Financial Highlights
2000 revenues of $129.9 billion
2000 net earnings of $12.7 billion
Quarterly dividends of $0.16 per share.
Quarterly dividends, paid every quarter since 1899, have increased every year since 1975.
Stock Price:
52 week high of 56.1875, 52 week low of 28.6900
Shares outstanding of 9.933 billion
P/E Ratio of 28.36
EPS of 1.37
Market capitalization of 385.10 billion (11/5/2001)
Number of share owners is 2.1 million
2000 international revenues of