The GE that I work for now is not the same company as the one I joined in , with stand-alone businesses in a holding company. Today, we operate on the premise that our whole is greater than the sum of the parts, and the dynamic networking and exchange of ideas and solutions across GE is a performance differentiator for each business.
Close to 70 percent of our business now takes place outside the United States, so this networking exchange needs to reach far and wide. The problem, of course, is that as businesses grow larger and scale up internationally, more silos start to pop up. When our approach works, it has helped us speed up development times, expand globally at a faster pace, scale innovation across industries, improve productivity, and accelerate problem solving.
When it does not work, we have a Game of Thrones scenario—silos and fiefdoms. One lesson is paramount: nothing changes without the right culture. We encourage GE employees to reach out to employees in other departments and regions around the world to share or ask for ideas and tips. We recently created a virtual forum that connected over 30, employees across ten businesses in 91 countries to share insights and drive faster problem solving. One of the results from this virtual exchange was a project leader in our Power business in Europe identifying a solution he needed from the Australia Oil and Gas team, who had earlier worked with the Aviation services team in Singapore.
Other leaders use cross-team meetings or councils to connect to horizontal and vertical expertise within the company. That means bringing people together, often from across the organization. Teams that understand the importance of the mission, starting with the why, find ways around obstacles, get past no, and get to yes. Strong leadership and intervention are often required to get everyone to yes and drive a must-win mentality. This means aligning the priorities across the team and agreeing on shared metrics for the common endeavor, whether that is a Power deal in North Africa or a Gas project in the Middle East.
There is no confusion in a well-oiled team. Everyone is working to accomplish both the team goals and their own personal goals; they know their roles and reconcile any differences.
Nothing of substance happens at GE without a team. Leadership meetings, management councils, and training at GE are conducted with cross-business teams working on problems with the collaborative mind-set we aim to foster.
Solutions and business models for places as diverse as Japan, Nigeria, and Pakistan require local knowledge and speed as much as global industry expertise, which necessitates both horizontal and vertical intersections. The last three years in India, for example, have seen fast changes brought about by the new government, bringing with it infrastructure-spending increases of The market also is highly competitive.
Five years ago, we decided to invest in an extremely flexible manufacturing facility in India that could scale multiple businesses as they grew. List of Partners vendors. EST: On Nov. The healthcare spinoff is planned for early The energy business spinoff, scheduled for early , will contain its businesses that manufacture turbines for power plants and for wind farms.
GE will then focus on its aviation business. General Electric Co. GE is a global industrial company that provides power generation, renewable energy, industrial aviation products, and healthcare products and services. The company also offers financial products and services. GE serves customers in more than countries and has manufacturing and service operations globally.
GE operates in industries that require continual investment in research and development. Major competitors include Honeywell International Inc. HON , 3M Co. Revenue rose 8. In its earnings press release, the company highlighted its strong performance during the quarter, citing a return to growth in revenue, expanding operating margins across all segments, and positive free cash flow FCF in its industrial businesses.
GE noted that its Aviation segment was showing the beginning signs of recovery. It also reiterated its focus on becoming a simpler and stronger high-tech industrial company. GE operates through four industrial segments and a financial segment.
Its financial segment is named Capital. GE provides a breakdown of segment profit and revenue for each of these business segments. Any negative revenue or segment profit is excluded from the pie charts above. The Aviation segment designs and produces commercial and military aircraft engines, integrated engine components, electric power, and mechanical aircraft systems.
It also provides aftermarket services to support its products. Quarterly revenue rose The Healthcare segment sells sophisticated healthcare products and technologies.
It has expertise in medical imaging, digital solutions, patient monitoring and diagnostics, drug discovery, and performance improvement.
The segment's products and services are primarily sold to hospitals and medical facilities worldwide. The Healthcare segment's profit rose Revenue for the quarter grew The Renewable Energy segment offers end-to-end solutions for customers. It provides onshore and offshore wind, blades, hydro, storage, solar, and grid solutions, as well as hybrid renewables and digital services.
Revenue for the segment rose The Power segment provides products and services related to energy production. Its products and technologies utilize oil, gas, fossil, diesel, nuclear, and water to produce electric power. This GE segment offers gas and steam turbines, and a full balance of plant, upgrade and service solutions. Revenue grew 3. The Capital segment provides financial products and services with a focus on customers and markets aligned with the company's industrial businesses.
It offers leases, sale-leasebacks, asset trading and servicing, underwriting, working capital, insurance, and other financial products and services. Revenue declined 0. On Oct. The acquisition is expected to enable Prolec GE to serve the growing market for sustainable electrical energy solutions in the Americas. On Sept. GE Investor Relations. Accessed April 6, Accessed Oct.
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