Are you interested in discovering the values behind the operation of General Electric?
Commonly known as GE, this company has been keeping the lights on in the United States for over a century. Since then, General Electric has risen to become the eighteen largest company in the United States. This Fortune 500 company operates under clear mission and vision statements. There is also a clear set of core values that help to drive how the company operates.
So, let’s undertake a detailed General Electric Mission and Vision Statement Analysis to find out more about this fascinating company.
Contents
The Company History
General Electric was incorporated in 1982 in the State of New York. The company was originally known as the Edison Electric Light and Power Company when it was founded. It was named after Thomas Edison and his business associate and inventor William Johnson.
Thomas Edison and William Johnson each invested $250,000 and 50,000 shares of common stock into the company. Their first and main project was designing and manufacturing the incandescent light bulb. Once the invention had been fully developed, it helped to revolutionize the United States and eventually the whole world.
Read more: Johnson & Johnson Mission and Vision Statement Analysis
Thomas Edison sells his stock…
Thomas Edison held the majority ownership in the company until 1898, when he sold his stake to one of his partners. In 1899, the name of the Edison Electric Light and Power Company was changed to General Electric.
Today, General Electric operates in more than 130 countries around the world. The company is in the process of dividing into three public companies, with each focusing on aviation, healthcare, or energy. A new healthcare division is also planned to be launched in 2023, followed by a renewable energy division.
The Mission Statement
The General Electric mission statement is ‘to usher in the next industrial era and to build, move, power, and cure the world.’ The mission statement refers to the fact that General Electric has always been committed to change. It boasts two main elements that can be explored in more detail.
Improving communities
General Electric works towards improving communities through its innovative products and services. These include advancements in different methods of travel, healthcare systems, and financial empowerment. General Electric also contributes to improved schooling systems and communications around the world.
Exceeding expectations
For more than a century, General Electric has been taking the lead in important sectors. The company shows a strong commitment to innovation that helps improve the world in a range of different ways. New products and services continue the company’s commitment to quality, which helps reinforce the company’s reputation for excellence.
The Vision Statement
‘To become the world’s premier digital industrial company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive.’ This was the original vision statement of General Electric. This vision statement is particularly impactful and reveals the driving force of the company. Let’s take a look at the three main elements that the vision statement is composed of.
To become the world’s premier digital industrial company
The first element of the vision statement highlights the desire to be a premier digital industrial company. To achieve and maintain this, general electric is constantly evolving to stay ahead of its competitors. An example of this can be seen in the integration of advanced computing technologies in dynamic aviation and healthcare products.
Transforming industry with software-defined machines
The second element defines the company’s main aim for its innovative products. The main drive is constantly transforming different areas of the industries the company operates in.
Executing critical outcomes for our customers
This element highlights the value of customer support and loyalty. General Electric is committed to creating products that directly improve the lives of customers.
In 2016, General Electric released a new vision statement. This is to ‘create the energy everything needs in a society transitioning from oil to clean, renewable energy resources.’ This vision statement reflects the new drive of the company to sustain and preserve the world’s finite resources.
Renewable Energy
The newest evolution of General Electric is focused heavily on renewable energy. The company has been investing heavily in researching new types of renewable energy. The company also creates special products that utilize renewable energy in the best ways possible.
To this end, General Electric is also committed to collaboration. The pursuit of renewable energy requires collaboration between the best and brightest minds in the world. This helps make sure that the latest developments are accessible to global communities.
General Electric’s Impact On The World
The company’s mission and vision statements reveal that General Electric is committed to changing the world for the better. The company focuses its attention on four main areas of influence and positive change. Let’s explore each of these areas in more detail.
Transportation
For over a century General Electric has been powering vehicles on land, at sea, and in the air. The company has pioneered advancements in aviation and currently operates more than 65,000 General electric jet engines. Other advancements in the transportation sector include wind turbines that power ferries, powerful locomotives, and popular and innovative helicopter engines.
Power
At any given time, General Electric generates just over a third of the world’s energy. The first electric grid was created by company cofounder Thomas Edison in 1882. Since then, General Electric has created a wide range of other power inventions, from wind turbines to transmission services.
Devices
The products and devices that General Electric creates are designed to improve the world in numerous ways. Over the years, the company has made revolutionary breakthroughs that have enhanced both industry and daily life.
These include material science discoveries, healthcare innovations, and manufacturing advancements. For example, General Electric was responsible for launching the first ever deep learning-based CT image reconstruction technology.
Environment
One of the company’s main commitments is helping to create a cleaner and more productive world. One of the most impactful ways this can be seen is through using nature as a power source. This can be seen in the innovative wind turbines and other innovative products the company creates to harness nature.
The General Electric Logo
General Electric boasts an innovative and very stylized logo that helps it stand out from the crowd. This logo is instantly recognizable and can be found on all the company’s products and services. Let’s take a closer look at this distinctive logo and the way it has evolved over the years.
The logo is shaped in the style of a circular badge that is designed to represent exclusivity. The original monogram, created in 1982, was very sleek and elegant and featured two interconnected ornate letters. This logo was rendered in black and white to represent timeless sophistication.
Launching the new logo…
The modern General Electric logo was launched in 2004 and featured the same circular badge as the original. The light blue background gives the logo a slightly more modern appearance. While the letters are still stylized, they are now slightly easier to read compared to the original logo.
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Final Thoughts
It can be seen that the company’s commitment to improving lives and communities has helped General Electric to thrive. Over the centuries, the company has constantly explored new technologies and new markets. General Electric is also committed to innovation and providing the best products and services possible.
Over the years, General Electric has become a leader in many sectors, including healthcare and aviation. This diversity has given the company a notable position in the global community.
As the company grows, it heavily invests in new services that are focused on sustainability.
Good luck, and enjoy working at General Electric!