The Immelt Revolution, Essay Example

Jeffery Robert Immelt is currently the chairman and Chief Executive Officer of the General Electric conglomerate which is based in the United States. He took over the position of CEO on September 8, 2001 right before the September 11 terrorist bombing. Among the key factors which he implemented to General Electrics are innovations, sophisticated marketing and risk taking. Immelt changed the whole emphasis of the original General Electric Co., no longer he concentrates on cost-cutting and deals.

Immelt directed the company’s emphasis on new products, services and markets. Jeffery Immelt has completely changed the corporate traditions of GE, he introduced strangers of the company to some of the top managerial positions. His motives are that the world is changing, and so must GE change so that it could indeed be a leader in its niche. He demands creativity and new approaches to strategies of development, Immelt requires ideas regularly and then he decides to take them or not. It seams that his position at GE is like an experiment to the company. As an example to his innovative ideas he sold the less profitable acquisitions of GE, and invested into perspective wind power technologies, bioscience and others. Immelt also emphasizes on his opinion that great managers are great marketers, thus GE no longer relies on the thought that winning products will eventual sell themselves. This thought is suppose to be long-term, while Immelt proposes a wise advertising policy and marketing program. He assumes that in the next ten years the greatest of profits will come from developing countries, about 60%. Thus he is reorganizing manufacturing plants and production to those countries in a fast pace and surprisingly without great disruption.

However experts are waiting when GE Company will show fast-pace growth that has been promised by Jeffery Immelt. What is certain is that his managing is indeed risky, and prices on GE stocks had dropped by 60% since he had taken over.

Resources

Brady, D., (2005). The Immelt Revolution. Retreived Apr. 14, 2010 from http://www.businessweek.com/magazine/content/05_13/b3926088_mz056.htm

Christian, A., (2009). Obama Selects ‘Worst CEO of 2008’ to Economic Advisory Panel, Says the Free Enterprise… Retrieved Apr. 14, 2010 from http://www.reuters.com/article/idUS190646+10-Feb-2009+PRN20090210