Friday, June 1, 2012

Research Paper on General Electric

Research Paper on General Electric

Objectives
In today’s fast-paced world, it is necessary for an organization to stay one-step ahead of the competition to maintain its competitive edge. The organization is there to be an industry leader and market innovator in all of its products, whether they are for the domestic or for the commercial market. The upmost quality must be maintained within our product lines in order to adhere to our standards of quality. We are on a mission to bring the customers what they need at reasonable prices, highest quality, as well as products that, when possible, are manufactured in the United States from parts also made in the U.S. I believe that General Electric, with a history that spans more than 100 years, can, after a few years of neglect, return to the stage as the market leader it once was. Recently, there has been stiff competition from the Japanese and the Europeans and they have taken a significant portion of our business, so one of our objectives is to convince our former clients that we are the new GE that is more streamlined and competitive.

 

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Culture
I have encountered many problems within our organization when I stepped in as the CEO. It seems as though there has not been an establishment of effective responsibility for the actions of managers and employees. First and foremost, and I cannot stress this enough, is the communication between the employees and the managers. I want to have a culture where freedom of opinions is not an option, it is mandatory. I want to create the organizational culture where the communication model looks like an old wagon wheel, with the manager in the center and the employees around him, so there is always communication happening. Moreover, it will be ideal to create a culture with low power distance, meaning even though the manager is still the manager, there is some equality in the work place. I do not want people to be discouraged about expressing themselves. It will be great to have a more collectivistic culture here where many things, besides opinions are shared and groupthink is reduced significantly. It has been an uphill climb for us to establish this, but it’s working. There was a culture of unfriendliness here, and it stops now. The chain of command is not always necessary when projects are involved; this is why we will have open communication structures. I will also have meeting sessions with several low-level employees from each department in order to understand where the improvements can be made. I am sure that my initiative will be a beneficial first step in turning the company around.

Change
It will be a very difficult process for everyone to accept this new change. History has shown us those who adapt well to change, will have a competitive advantage, and this is what the company needs to stay ahead of the game. The task will be a difficult one because there has been a lot of underperforming in every branch of the company and that will be dealt with. Each manager, supervisor and employee will be evaluated by his superiors, people on his level and by people below him to ascertain his commitment to the changes. I plan on slimming the company down by a significant portion, because the labor costs are driving us to the brink of bankruptcy. I will need the best and the brightest to achieve what our competitors are currently achieving. I will however, give everyone a chance to prove themselves. In order to instill a low power structure and a more collectivistic and open approach, I will have group outings with challenging games that will have certain rules that will pertain only to the culture that I wish to instill in these people. Those that fare well, will score points in my book and will show themselves to be the right candidates for this new structure.

Stakeholders
Since the employees have stakes in the company, I believe they are on the front lines of what I would call a battle for the hearts and minds of our clients. From the beginning of our downward slump, the shares have fallen. I can only do so much as the leader to get the company rolling again. This is why as an incentive, it will be in the best interest of the employees to do their utmost to contribute to the company’s success in the market place. They are the key stakeholders in the company because they will have the power in their hands to make or break it, and I believe they will do what is beneficial for them, not necessarily the right thing, but what will give them financial stability and peace of mind for a long time to come.

Manage
As the CEO, it is my responsibility to bring about profit in an organization and to minimize loss. To do so I must take effective measures to guarantee this. These people as before preferred the status quo and stuck to their jobs. They didn’t seem to care to take initiative too much in their line of work, and this in turn led to our company’s downward slope. It is not enough to yell and to discipline people. Waste must be disposed of, and the talent that remains must be nurtured. Moreover, the incentives that are offered will certainly produce results, which will be beneficial for everyone involved from the bottom, up.
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