Last Virgin in Paradise

Presentation The Last Virgin in Paradise is a charming and captivating satire, which is extremely ingenious in the investigation of culture since it centers around social parts of little networks and ethnicities. In the parody, there is an accentuation on alteration of the play to coordinate social convictions of the intended interest group with the goal that the satire gets applicable to the society.Advertising We will compose a custom paper test on Last Virgin in Paradise explicitly for you for just $16.05 $11/page Learn More This is clear on the grounds that the play utilizes Hawaiian language and brings the individuals of the Pacific Island together. Besides, the satire utilizes political angles in a diverting way and uses abstract gadgets, which make the parody enlightening to the perusers. The parody has various players like Temanu, Jean, Hina, and Helmut. Moreover, the satire presents cultural difficulties regarding social practices and political characters. In this way, the p aper examinations the satire, the Last Virgin in Paradise, utilizing speculations, for example, artistic investigations, woman's rights (sexual orientation and legislative issues), and orientalism to introduce issues that identify with culture, governmental issues, sex jobs, generalizations, and cultural convictions. Orientalism Theory Some of the subjects that the hypothesis features in the satire, the Last Virgin in Paradise, incorporate culture, instruction, authority, and social associations. In the parody, Helmut shows how culture esteems training when he discloses to Temanu that he will take Hina to class and give her a decent instruction. The subject of training comes out when Temanu says, â€Å"I will send her to class and give her an education† (Hereniko and Teaiwa 16). In this manner, through Helmut the play shows how society sees training. What's more, the parody additionally fuses social viewpoints into the play. A genuine model is obvious when Temanu reveals to J ean that she returned to consider her way of life and know her tendency (Hereniko and Teaiwa 18). When Helmut asks Temanu whether she is hitched, the satire brings to the fore the part of marriage (Hereniko and Teaiwa 16). This clarifies the general public qualities and regards marriage and family as holy social organizations. Moreover, the hypothesis shows how society sees authority. The topic of power is clear in the satire as it presents how society sees authority and control. For example, Helmut perceives the position held by Hina’s father when he tells Temanu â€Å"she is a little youngster who is 19 years of age, and her dad is a high chief† (Hereniko and Teaiwa 16).Advertising Looking for exposition on sex contemplates? We should check whether we can support you! Get your first paper with 15% OFF Learn More also, Temanu further explains the affection for culture when she noticed that Hina chose to get back home and know her personality (Hereniko and Teaiwa 18). Subsequently, the parody shows a few highlights that orientalism hypothesis presents. The topics that the hypothesis features are additionally clear in the parody, and along these lines make the hypothesis of orientalism handy and viable in breaking down the satire of the Last Virgin in Paradise. Artistic Studies Theory The hypothesis of scholarly examinations features subjects, for example, culture, sexual orientation separation, and regard for training. The Last Virgin in Paradise presents topics, for example, culture, sexual orientation separation, and love for instruction. As indicated by the satire, the general public loves and qualities instruction, and this is clear from the regard the general public provides for Helmut who is a resigned educator of brain research (Hereniko and Teaiwa 16). The regard is evident as Hina’s father and other relatives convince Hina to wed Helmut, without thinking about whether Hina adores him or not. Furthermore, the satire brings to the f ore sexual orientation segregation when Hina’s guardians give Helmut the agree to wed, yet Hina isn't happy to wed him. Hina isn't just youthful, yet in addition she isn't enamored with Helmut. Additionally, the parody utilizes Helmut to show sexual orientation equality. The play clarifies sexual orientation equality when Helmut reveals to Temanu that Hina doesn't have a decision but to agree to his standards (Hereniko and Teaiwa 16). The announcement presents society’s thought and generalization that ladies are lesser and more fragile creatures than men. Women's liberation: Gender and Politics In the investigation of the satire, the Last Virgin in Paradise, it is apparent that a few highlights, for example, sexual orientation separation are up and coming in the general public. As per the parody, the Last Virgin in Paradise, plainly there is sexual orientation equality as brought to the fore by Helmut, a resigned teacher of brain science, who presents ladies as article s or minor creatures who have no rights aside from the commitment to keep the principles of their spouses. Sexual orientation separation is obvious in the satire in light of the fact that Helmut disclosed to Temanu that Hina must choose the option to acknowledge marriage (Hereniko and Teaiwa 13). Furthermore, the parody presents ladies as minor creatures who don't just have negligible training, yet in addition have no work. For instance, in the parody, Helmut is resigned brain science educator though Hina is as an uneducated youthful woman.Advertising We will compose a custom paper test on Last Virgin in Paradise explicitly for you for just $16.05 $11/page Learn More Conclusion The article examines the Last Virgin in Paradise, which is a grave satire that accentuates on the normal exercises of little scope networks. Also, the paper features social generalizations that characterize jobs and positions related with either men or ladies in the general public. The article utilizes abstra ct investigations, woman's rights (sexual orientation and governmental issues), and orientalism speculations in the examination of political, sex, and social subjects that the parody presents. Additionally, the parody utilizes an arrangement of a down to earth society with different ethnicities, for example, Marawan, Palagis, and Europeans who have assorted societies and ways of life. The utilization of the three speculations helps in the investigation of the parody and introduction of social, social, political, and sexual orientation esteems, which are regular in the general public. Works Cited Hereniko, Vilsoni and Teresia Teaiwa. Last Virgin in Paradise. New York: University of South Pacific, 2001. Print. This paper on Last Virgin in Paradise was composed and put together by client T0adMen to help you with your own investigations. You are allowed to utilize it for research and reference purposes so as to compose your own paper; be that as it may, you should refer to it in like manner. You can give your paper here.

Developing a marketing mix for a new product or service Essay

In this task I will be taking a gander at how item and administrations are showcased and take a gander at how an advertising blend is created utilizing the four P’s: Product, Price, Place, and Promotion. The Marketing Mix gives an incredible structure to creating promoting plan. They are commonly acknowledged as being comprised of four sections which are: †¢Product †¢Price †¢promotion †¢place These are thoughts to consider when promoting an item and will be portrayed in more detail beneath:- The Four ‘P’s Item An item is whatever can be offered to the market to fulfill a client needs and wants. Item incorporate physical products, administrations encounters, occasions, individual, place and so forth. It is in this manner the mix of products and administration that are offered to the objective customer. A business will continually change and update its item range and blend to continually satisfy their clients and be above contenders. An item can be seen in three unique levels: Level 1: The center Product (as opposed to the physical item) is the advantage of the creation that makes it significant to you. Level 2: The real item is the physical thing. At this level marking and included highlights and advantages are significant as this what will separate the item from contenders. Level 3: The enlarged item is extra an incentive past the physical item: it for the most part comprise of after-deals administration, guarantees, conveyance, etc. The degree of the blend is another huge issue. In the event that a business doesn’t have numerous items, quite possibly one will leave date as more up to date sort of items are in the market and this can genuinely harm the business scale. It is prescribed to never have one item in one market as though the item isn’t effective and bombs this could mean a total disappointment of the business. A few organizations will adjust and foresee change, whileâ others responds to the need to change. A case of this is IPhone makes changes to their items, for example, their cell phones, they add more highlights to their items giving their clients a scope of highlights to search for in an item. When a business has distinguished their objective gathering of clients it needs to comprehend what items or administrations it needs to do and give so as to claim and draw in to them. The data they give their clients ought to delineate the highlights of the item or administration with the goal that the clients comprehend what's in store and it arrives at their desires and the business will make a benefit. Anyway it’s essential to contemplate that the advantages to a client are not generally for a down to earth sense there are mental advantages, for example, status for instance. A case of this is if everybody has a particular telephone and an individual proceeded to get a similar telephone they may get it more for a status reason. The item life cycle idea mirrors the hypothesis that item, similar to individuals, carry on with a real existence. They experience 4 phases. The primary phases of the item life cycle are: †¢Introduction-exploring, creating and afterward propelling the item †¢Growth-when deals are expanding at their quickest rate †¢Maturity-deals are close their most elevated, yet the pace of development is easing back down, for example new rivals in market or immersion †¢Decline-last phase of the cycle, when deals start to fall So understanding what part of the cycle your item is fit as a fiddle your showcasing blend. Cost Cost is the one component of the showcasing blend that income; the others produce costs. A business must set a cost for an item and in choosing the items value; promoting must follow a six-advance procedure. 1.Select the value objective-This could be to endure or to expand piece of the pie. 2.Determine interest the higher the value, the lower the interest. 3.Estimate cost-charge a value that takes care of the expense of creating, appropriating and selling the item. 4.Analyze competitors’ costs, costs and offers-consider its rivals cost and costs setting its cost. 5.Select a valuing methodology there various evaluating, which is recorded beneath. 6.Select the last spot this is chosen subsequent to testing on a scope of valuing focuses. Premium valuing This is the place the business will keep the cost of an item or administration high so as to urge client to relate it will high caliber. Infiltration valuing This is the point at which an item is sold into a market at a low starting cost so as to produce deals before the cost is expanded. Economy valuing Economy estimating is the intentional setting of low cost so as to support deals. Skim valuing when propelling another item there will be less rivalry in the commercial center. Skimming includes setting as sensibly high introductory comes back from those buyers ready to purchase the new item. Mental valuing This dependent on client estimating strategy. It depends on consumer’s emotive reactions, abstract perspectives and feeling towards explicit buys. Hostage item estimating This is a methodology that can apply to items with consumable supplies. This is the place the estimating at high distinction levels, else they won't sell; clients compare higher caliber with more significant expenses. Product offering estimating This is the evaluating of various items inside a similar item run at various value focuses. Spot Spot in promoting blend alludes to where the item is bought from and how it’s disseminated. For instance, most customer of sweet shop will purchase items structure retail locations. Organizations need to adjust their advertising blend contingent upon the end clients that is whether they are a buyer or affiliate as each look for changed advantages from a similar item. Dissemination A business may utilize two kinds of appropriation strategy: aberrant or direct. Roundabout appropriation is the point at which a business sells its items by means of a delegate, for example, distributer, who at that point offers to retailers. Direct conveyance is the place the business sells and appropriates direct to the clients. Picking roundabout circulation may imply that a business loses a portion of the authority over the valuing of their items, as they have offer limits to wholesalers and retailers, who may decide to pass on sparing to their clients. On the web The development of web based shopping have given organizations another spot to offer their items to clients. This offers organizations a preferred position as they can sell straightforwardly to the clients. This mean they can evade the distributer and along these lines expanding the overall revenue on their items. The limited time blend includes the mixing of number of factors to fulfill the requirements of a business’s target advertise and accomplish its authoritative goals. With the limited time blend, a business endeavors to accomplish the best mix of special components to suit their limited time targets. The segments of the special blend are: †¢Advertising †¢Sales advancement †¢Personal selling †¢Public relations Promoting This might be characterized as paid advancements through different media by organizations, non benefit associations and individual’s that are somehow or another distinguished in the promoting message and plan to educate or convince individuals from specific crowd. Sponsors have many deceived up their selves, for example, †¢Excitement †¢Personality power †¢Put-down: Business put down their rivalries †¢Jumping on the fleeting trend: Advertisements urge the crowd to join the group. Individual selling This is the place a dealer presents an item immediate to a customer regularly up close and personal yet should be possible via telephone and through video conferencing. Advertising This covers a firm’s interchanges and associations with its open. This incorporates clients, providers, investors, workers, the administration, the overall population and the general public where the association works. This can be formal or casual. Exposure is significant piece of viable advertising endeavors. It very well may be characterized as the non-individual incitement ofâ demand for a decent, administration, individual or cause. Deals advancement This is identified with showcasing exercises that fall outside of the classes, for example, coupons, public expos, presentations, tests and other limited time endeavors that happen on an unpredictable premise. A portion of these advancements are present moment and deft. In this task I have analyze how items and administrations are showcased and take a gander at how an advertising blend is created utilizing the four p’s: Product, Price, Place and Promotion.

The Growth in Mobile Usage Implications for Starting and Growing Your Business

The Growth in Mobile Usage Implications for Starting and Growing Your Business Mobile internet use has skyrocketed in the last five years. Google says that desktop searching was left by the wayside as mobile search took over.If you’ve kept up with the series on Steve Blank’s Customer Development Model, you know how important it is for you to be where your customers are. Depending on your industry, there is a good chance that your customers are already relying on their mobile phones.The enormous growth in mobile usages has important implications for every business. Whether you are just starting your business or are in the growth phase, it is important to consider what kind of mobile mindset you will adopt. © pixabay | MariusMBIn this article you will learn about 1) the growth of the mobile market, 2) why your business needs to go mobile, 3) some tips on going mobile, and 4) some insights on the next big phase called Internet of Things.THE GROWTH OF THE MOBILE MARKET MOBILE USAGEThe number of hours that people spend online today continues to grow every year. These hours have shifted from desktop computers to mobile phones to a range of other devices. In fact, the amount of time spent on the mobile web increased 575% in around 3 years.It is not just the amount of time that people spend online that matters. People now have more devices to choose from when they want to go online. As the adoption of mobile devices grows, the amount of time that people spend on them has grown with it. In fact, the amount of time spent on mobile internet has now overtaken the amount of time spent online on a desktop.Like Benedikt Evans says: Mobile is eating the world shows the importance of going mobile fo r businesses.[slideshare id=40841467doc=201410wsjdbe-141028165857-conversion-gate01w=640h=330]These trends do not happen in a vacuum. Mobile internet did not shift from the development BBM to free Netflix streaming overnight. A series of events had to take place in order for mobile internet to be feasible at this level.First, mobile devices needed to be more accessible. American carriers took care of that by leasing these phones alongside service contracts. This had benefits for everyone because consumers no longer had to shell out hundreds of dollars up front and carriers could make a bundle by locking those consumers into contracts.Second, the availability of mobile internet had to improve. Even the youngest adopters can remember a time when mobile internet was good for chatting and email but still couldn’t beat wifi. Carriers knew that the cost of selling more data would be investment in better data services including better technology and more towers.Third, mobile devices and data had to be useful in a way that was not currently available on the PC. Thus, the mobile app was born. Today, mobile apps are changing the game completely and users are abandoning their mobile browsers for apps. Google reported that its Android market received 50 billion app downloads in 2013 alone. Some reports suggest that this will grow to 268 billion downloads by 2017.Apps are not just a new trend. Nearly 80% of mobile hours are spent using apps and total app usage grew 76% in 2014 alone. This is because apps offer a unique value proposition that merges convenience and sleek design. For many customers, this value proposition is worth enough to drag even the most dedicated PC user onto their phone or tablet.Samsung prepared an in-depth market analysis of the US market for mobile phones which is helpful to understand the key trends.[slideshare id=35749472doc=smartphoneindustrysamsungmarketanalysis-140611094635-phpapp01type=dw=640h=330]WHY YOUR BUSINESS NEEDS TO GO MOBILEThe num bers are clear. Your customers are using their phones and their tablets to live their lives. Mobile technology allows them to live differently than before and these customers do not just love it. They rely on it.This level of dependence means that you need to go mobile. Your customers are already there and unless scientists develop a methadone-like treatment for iPhone dependence, consumers are going to continue.However, you cannot approach mobile internet the same way you would approach adopting a new advertising channel. Mobile devices are so addictive because they are more than a device. The device is an extension of your customer. This is an incredibly personal thing. Therefore, you cannot throw together an advertising plan and call it good. You need to create an experience and that experience must be personal.Creating a personal mobile experience with your customer will allow you to help connect your brand with your audience. In turn, this will drive brand loyalty. Both of thes e things will help your drive sales for you company. The potential sales value of a solid mobile experience is not only sustainable but has huge potential for constant growth.Here are a few things that you can incorporate into your mobile marketing plan:Engage with customers.  Engaging with customers on their mobile devices is easy because of the sheer amount of personal data they freely hand over. You can use your app or mobile site to create a new experience that is specifically tailored to unique customers.Promote new services.  You can create app notifications to supplement your email marketing campaign to promote higher visibility of your new services.  You can also trial new services to the most dedicated of your early adopters. This group serves as a built in focus group who can help you perfect new products. It also has the added benefit of building buzz around new services or products.Increase your sales.  Increasing your sales using mobile marketing features is a relativel y simple formula. All you need to do is make it easy to buy. The easier it is for customers to find your offerings and push the purchase button, the higher your sales will be.Generate leads.  The contact form on mobile sites feels more casual than the contact form on a desktop. A mobile lead should be simple give and collect.Customer service.  Using mobile marketing for customer service frees up other customer service teams.  It is not heavily utilized right now; but, it is coming. Using it this way can put you in the unique position of already being where your customers are heading.Enhance the customer experience.  Using your mobile app to add little extras to your customers’ experience keeps them coming back for more. You can do this by offering exclusive experiences available only for certain customers. The more exclusive the experience feels, the more they will crave it.FOCUSING YOUR EFFORTSLearning about how the mobile market has grown is one thing. However, this transition t o the mobile world is already in full swing. What really matters right now is how it is predicted to grow in the futureAccording to a recent white paper produced by Cisco, total global mobile traffic will increase tenfold between now and 2019. Mobile connection speeds will increase twofold by 2019. Almost 75% of the mobile data traffic in 2019 will be video.This figures are important for you to consider when you’re moving your brand to the mobile phone. Just as prior developments paved the way for today’s use of mobile internet, future innovation will change the face of the mobile world as you know it today.The possibility of lightning fast connection speeds opens up a whole new realm of possibilities for the kinds of experiences you can create for phones and tablets. To take advantage of these changes, you need to have a model that is forward thinking by design. Looking for places where you can continuously integrate new trends into your app is a good place to start.Another imp ortant change coming in mobile internet is its global growth. At the moment, the North American and European markets are fairly saturated. Between now and 2019, it is the Middle East and Africa that will continue to see the largest mobile data usage growth. Mobile data is also predicted to overtake the availability of in-home internet connections. This transition is partly because of the availability of inexpensive smart phones. However, both government and foreign investment in telecoms have also propelled these cellular data forward.As this huge portion of the world starts to go online, you will find that you can now reach more people. Virtually no one will be off limits. The biggest effects of this movement are already being experienced by luxury retailers. The growing amount of Middle Eastern and Asian wealth has become a priority for retailers, like MyTheresa, on the web. Now that mobile internet is becoming accessible and reliable, retailers are starting to adjust their mobile habits to accommodate these important customers in emerging markets.Ultimately, all of these predictions mean that the mobile universe is marching forward at a brisk pace and you must be able to keep up with it. As more people get online and speeds become faster, you will soon have a lot of new opportunities to use the mobile market in ways that you could not have imagined 5 years ago.MINDFUL OF THE MOBILE MINDSETSTo keep up with the sweeping growth of mobile internet use, many businesses have adopted a “mobile first” mindset. This means that these businesses focus on mobile customers first and foremost. Unfortunately, a desperate attempt to be relevant on the mobile web can often lead to businesses committing a few mistakes.The biggest mistake that you can make when you commit to a mobile mindset is to neglect the desktop web strategy completely. Doing this can result in the alienation of customers, including valuable ones. Although people are spending more time on mobile inte rnet, you will still have many customers who use their phones for browsing and their computers for purchasing.Follow these rules to make the best use of the mobile web:Make sure that you have a mobile friendly site regardless of your primary customer base.Don’t assume that everyone does everything on their mobile device.Don’t focus solely on being mobile-friendly. Instead, you should adopt a mindset that is embraces the multi-device user. This includes smartphones, tablets and computers in one big ecosystem.These rules are important for a healthy mobile balance. Why? Because even though mobile device use is growing quickly, these devices are not pushing computers out of the picture. Rather than taking up more of the pie, mobile internet is increasing the size of the market altogether. It is important to remember that mobile usage is growing but time spent on desktop browsers is growing, too.PREPARING YOURSELF FOR THE INTERNET OF THINGSFor most people, the world of mobile interne t revolves around a smart phone and a tablet. However, this is not the beginning and the end of the mobile world. Recently, this little mobile world has expanded into a mobile internet galaxy. This galaxy is referred to as the Internet of Things.If you’re an early adopter, you might have experienced a brief foray into the Internet of Things. The highest profile examples of the Things include the Apple Watch and the Samsung Galaxy Gear. However, this is only a drop in the ocean for these kinds of devices.The Internet of Things is not a trendy watch or accessory. It is the next generation in mobile technology. However, this generation is not that far away.Rather than work as a standalone object, the devices that make up the Internet of Things are designed to flow seamlessly between working and living. These things will allow people to connect anything their most important lifestyle products to the internet and then reap the benefits of connectivity.By 2020, there will be 26 billion internet enabled devices. Some of the current examples of products already floating about the Internet of Things include:Coffee makersCell phonesHeadphonesLampsHousehold appliancesJewelryClothingAn overview of the IoT market including some really interesting product categories can be found here.[slideshare id=38147566doc=internet-of-things-slideshare-140819153732-phpapp01type=dw=640h=330]The Internet of Things is bigger than most of us realize right now. Even the people who are knee-deep in building it do not have a clear picture of its full potential. Thus, the Internet of Things is not just going to affect the way products are sold. It will affect the way cities are built. It will change the way hospitals are run. It will change the way people live their lives and it will certainly change the way that you run your business.This will ultimately end up meaning huge, unprecedented changes for everyone. However, you can begin to position yourself to be ready for them now.First, it is imperative to realize that you will have greater access to more personal data than ever before. This kind of data goes beyond contact details or even sensitive information. You could have the option of finding out when an individual customer makes a pot of coffee, what settings they use and how many pots they make every day. This sounds like raw data at first glance but it is highly personal. It is a window into the life of an individual customer.Second, you need to understand that the way you collect data is changing. You will see an even bigger transition towards gathering data that is provided directly by the customer themselves. This data won’t always come from online profiles. It will come to you in real time directly from the customers’ living room. It has the potential to be truly big data that is provided by the customer, yet circumvents their control at the same time.Both of these things open up a world of possibilities for you in terms of personalization and marketing. However, these possibilities will only be available to those who can collect this information in a safe and secure way.Data security remains one of the primary issues in the Internet of Things. Having all of this personal information online and floating about makes users vulnerable. It is likely that some will try to exploit these vulnerabilities. Thus, easing into the Internet of Things in a secure way will be important for everyone.You can get involved by focusing on scaled, secured projects. Well-designed products will win customer trust. Ultimately, this will not only help you boost sales and engagement but it will make you an active contributor in reaching for the potential of the Internet of Things.CONCLUSIONThe mobile internet is now one of the biggest game changers in the way business is done since the internet itself. Thus, going mobile is no longer a luxury but a command. If you approach your mobile web strategy with your eyes wide open and looking toward the future, you can reach customers in a way that you never dreamed possible.

Adoption Programs Help Increase Dog Adoptions - 1191 Words

Many people understand the awful living conditions in animal shelters. Upon entering, one immediately notices the stench of unwashed animals, the dirt and grime that coat the walls, and the pleading, desperate faces of the inhabitants. While this is a serious issue, there is a far more important one at hand: the euthanization, or killing, of healthy animals in shelters. In a population chart of dogs in the United States, â€Å"over a third (2.4 million) died in shelters†(Ortega-Pacheco Jimà ©nez-Coello 235). The high number of dogs killed in shelters emphasizes the need to prevent shelter animal euthanasia. In order to save the lives of healthy shelter animals, methods such as initiating adoption programs, desexing companion animals, increasing volunteer and staff effectiveness, and raising community awareness must be enforced. Specialized adoption programs help decrease the number of animals in shelters, thus reducing the number euthanized. At a shelter in Louisiana, the employees began an adoption program designed to increase dog adoptions. The dogs chosen for the program were given to foster homes, which were tasked with marketing and finding permanent homes for the dogs. The program decreased the number of dogs staying in the shelter, which in turn reduced the euthanasia rate. Using a program such as this in all communities would reduce the â€Å"staff time, daily care costs, and shelter housing† needed (Mohan-Gibbons 2). If implementing a similar program at every shelter orShow MoreRelatedEssay Animal Control715 Words   |  3 Pagessparsely populated. Dogs and cats were valued for what they contributed to this rural lifestyle. Dogs were working dogs earning their keep on a local ranch or farm, or they were used for hunting to help put food on the table. Some dogs, as well as cats, were used a s mousers to help keep small rodents out of the homes and barns. All dogs were permitted to run at large. nbsp;nbsp;nbsp;nbsp;nbsp;During the third decade of the 20th Century, fee roaming dogs resulted in a dog overpopulation problemRead MoreEssay on Animal Control704 Words   |  3 Pagespopulated. Dogs and cats were valued for what they contributed to this rural lifestyle. Dogs were working dogs earning their keep on a local ranch or farm, or they were used for hunting to help put food on the table. Some dogs, as well as cats, were used as mousers to help keep small rodents out of the homes and barns. All dogs were permitted to run at large. During the third decade of the 20th Century, fee roaming dogs resulted in a dog overpopulation problem, and with it came an increase of rabies;Read MoreAnimal Population Increase: Crowed Shelters May Lead to Euthanization of Healther Pets652 Words   |  3 PagesDid you know at least 7,000 animals are euthanized each year? Dogs, cats, and many other pets are abandoned every day. 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Killing and disposing ofRead MoreAnimal Shelters and the No Kill Movement967 Words   |  4 Pagesanimals are healthy and treatable. (No Kill Advocacy Center). No animal should have to ever be a part of these awful statistics. What will it take to help save these innocent animals from being killed senselessly? Animal kill shelters are horrible, inhumane, and overall completely unnecessary for multiple reasons: No Kill shelters improve adoption rates, all animals lives are valuable, and No Kill shelters save more money than other shelters. Why Waste a Valuable Life? Killing and disposing of animalsRead MoreEuthanasia And Shelter For Animal Shelters1560 Words   |  7 Pagespremise that no healthy adoptable animal should be euthanized for any reason and that they should be sheltered until they find a loving home. The number of animals potentially impacted by this philosophy is very large. â€Å"Every day nearly 5,500 cats and dogs are killed in America’s shelters even though they could have made beloved family pets.† (Battista). Although most animal shelters have a basic operating process of euthanasia and shelter operators believe no-kill shelters are a ruse due to flawed admissionRead MoreThe Non Profit Organization, Friends Of Homeless Animals Inc.1322 Words   |  6 Pagesorganization designated to help these innocent beings. She went from Texas to Massachusetts and now officially resides in the state of Rhode Island. Roie and her best friend Doris built this organization from the ground up, in which their overall mission is t o rescue small dogs with big hearts and connect these homeless pets to loving parents and great homes (FOHA). Friends of Homeless Animals Inc. offer several programs allowing volunteers and peers around the community to help and support the organizationRead MoreAnimal Cruelty And Its Effects On Our Lives1297 Words   |  6 Pagessome animals. The animals who are not euthanized are taken care by the shelters, but comes the next step, adoption. Since many pets have terrible past lives, they usually show bad behaviours, causing adopters to return pets. However this problem can be changed with good programs and people. These shelters take responsibility to protect and improve the lives of abused, abandoned, and homeless dogs and cats. They will also aim to bring together individuals who are passionate about creating a better futureRead MoreA Brief Note On Animal Shelter And The American Society For The Prevention Of Cruelty Essay965 Words   |  4 PagesThey are many shelters in the United States being over populated with animals. Dogs and cats are left at the shelters for many reason. The q uestion being research is why are animal shelter over populate. What are the causes of animal shelter being over populated? What are the benefit of adopting? What are the effect on animal in over populated shelters? And how can we help animal shelters stop being over populated? ASPCA. (2010). Pet Overpopulation. Teacher Newsletter of the American Society forRead MoreThe Use Of Dogs And Cats On The Human Society And Income1599 Words   |  7 PagesThe year 10,000 BC was the beginning of domesticated dogs and cats in the United States and over the past 12,000 years there are now between 144 million to 176 million owned companions in the United States. Due to all of the economic and income growth over the past 12,000 years the purpose for these well-known companions has expanded gradually. Dogs and cats have been a beloved companion in families for centuries, but has it ever occurred to you how these animals became domesticated and how they

Madeleine Hubble Nursing Theory Of Cultural Care - 2198 Words

Introduction As a young girl I have always enjoyed being around people in their time of needs as well as internal satisfaction by serving those that need my help. In my day to day nursing career, I have encountered several patients from different cultures and traditions. During my short time caring for people with diverse cultural background. I have learned that this population involves a lot of complex care; My nursing interventions focus not only on the patients physical needs, but also their emotional and spiritual needs. I have always interacted with my patient with caring, kindness, gentleness and patience. Moreover, I made them feel valued by being kind, compassionate, and ready to listen to their complaints and frustrations. It give me great pleasure to hear my patient say they had a good day because of the care I was able to provide them. I found Madeleine Leininger nursing Theory of Cultural care very helpful and valuable. A major strength of Leininger s theory is the recognition of th e importance of cultures and its influence on patients and providers of nursing care. This research paper provides me with a good foundation on how to deal with different situations especially when it comes to different cultures. Making the patient part of the care allows us to be more successful in our effort. Biography on July 13, 1925 in Sutton, Nebraska a nursing theorist legend by the name of Madeleine Leininger was born. She had four brothers and sisters they allShow MoreRelatedMadeleine Hubble Nursing Theory Of Cultural Care Diversity And Universality2145 Words   |  9 Pagesbeing around people in their time of needs as well as internal satisfaction by serving those that need my help. In my day to day nursing career, I have encountered several patients from different cultures and traditions. During my short time caring for people with diverse cultural background. I have learned that this population involves a lot of complex care; My nursing interventions focus not only on the patients physical needs, but also their emotional and spiritual needs. I have always interacted

Case of Ge Growth Free Essays

CHRISTOPHER A. BARTLETT GE’s Growth Strategy: The Immelt Initiative Yet, for the past year GE’s share price had been stuck at around $35, implying a multiple of around 20 times earnings, only half its price-to-earnings (P/E) ratio in the heady days of 2000. (See Exhibit 2 for GE’s 10-year share price history. We will write a custom essay sample on Case of Ge Growth or any similar topic only for you Order Now ) It frustrated Immelt that the market did not seem to share the belief that he and his management team had in his growth forecasts. â€Å"The stock is currently trading at one of the lowest earnings multiples in a decade,† he said. â€Å"Investors decide the stock price, but we love the way GE is positioned. We have good results and good governance. . . . What will it take to move the stock? †1 Taking Charge: Setting the Agenda On Friday, September 7, 2001, Immelt took over the reins of GE from Jack Welch, the nearlegendary CEO who preceded him. Four days later, two planes crashed into the World Trade Center towers, and the world was thrown into turmoil. Not only did 9/11 destabilize an already fragile postInternet-bubble stock market, but it also triggered a downturn in an overheated economy, leading to a fall in confidence that soon spread into other economies worldwide. Do No After the chaos of the first few post-9/11 days during which he checked on GE casualties, authorized a $10 million donation to the families of rescue workers, and dispatched mobile generators and medical equipment to the World Trade Center, on September 18 Immelt finally focused on reassuring the financial markets by purchasing 25,000 GE shares on his personal account. Three days later, he appeared before a group of financial analysts and promised that 2001 profits would grow by 11% and by double digits again in 2002. As impressive as such a performance might have appeared, it was less than Welch’s expansive suggestion in the heady days of 2000 that GE’s profits could grow at 18% per annum in the future. 2 The net result was that by the end of Immelt’s first week as CEO, GE’s shares had dropped 20%, taking almost $80 billion off the company’s market capitalization. ________________________________________________________________________________________________________________ Professor Christopher A. Bartlett prepared this case from published sources. HBS cases are developed solely as the basis for class discussion. Cases are not intended to serve as endorsements, sources of primary data, or illustrations of effective or ineffective management. Copyright  © 2006 President and Fellows of Harvard College. To order copies or request permission to reproduce materials, call 1-800-545-7685, write Harvard Business School Publishing, Boston, MA 02163, or go to http://www. hbsp. harvard. edu. No part of this publication may be reproduced, stored in a retrieval system, used in a spreadsheet, or transmitted in any form or by any means—electronic, mechanical, photocopying, recording, or otherwise—without the permission of Harvard Business School. This document is authorized for use only by DINDIN SYARIFUDIN until August 2009. Copying or posting is an infringement of copyright. Permissions@hbsp. harvard. edu or 617. 783. 7860. tC op yo In February 2006, after four and a half years in the CEO role, Jeff Immelt felt General Electric (GE) was finally poised for the double-digit growth for which he had been positioning it. Having just announced an 11% increase in revenues for 2005 (including 8% organic growth), he was now forecasting a further 10% revenue increase in 2006. And following 12% growth in earnings from continuing operations in 2005 (with all six businesses delivering double-digit increases), he committed to leveraging the 2006 revenues into an even greater 12% to 17% earnings increase. It was a bold pledge for a $150 billion global company. (See Exhibit 1 for GE financial data, 2001–2004. ) rP os t 9-306-087 REV: NOVEMBER 3, 2006 306-087 GE’s Growth Strategy: The Immelt Initiative To make matters worse, as the year wore on, a scandal that had been engulfing Enron finally led to that company’s bankruptcy. Soon, other companies were caught up in accusations of financial manipulation, including Tyco, a company that had billed itself as a â€Å"mini GE. † Again, the market punished GE stock, concerned that its large and complex operations were too difficult to understand. Beyond all this immediate market pressure, Immelt was acutely aware that he stood in the very long shadow cast by his predecessor, Welch. During his 20 years as CEO, Welch had built GE into a highly disciplined, extremely efficient machine that delivered consistent growth in sales and earnings—not only through effective operations management that resulted in organic growth (much of it productivity-driven) of 5% annually, but also through a continuous stream of timely acquisitions and clever deal making. This two-pronged approach had resulted in double-digit profit increases through most of the 1990s. Building on the Past, Imagining the Future Immelt committed to building on what he saw as the core elements of the company’s past success: a portfolio of strong businesses, bound through a set of companywide strategic initiatives and managed by great people in a culture that was performance driven and adaptive. It was a source of competitive advantage that Immelt felt was not easily imitated. â€Å"It requires financial and cultural commitments over decades,† he said. Having committed to GE’s fundamental business model, Immelt wasted little time in articulating a new vision of growth based on using GE’s size and diversity as strengths rather than weaknesses. He wanted to take the company into â€Å"big, fundamental high-technology infrastructure industries,† places where he felt GE could have competitive advantage and where others could not easily follow. He elaborated this into a vision of a global, technology-based, service-intensive company by defining a growth strategy based on five key elements: 2 This document is authorized for use only by DINDIN SYARIFUDIN until August 2009. Copying or posting is an infringement of copyright. Permissions@hbsp. harvard. edu or 617. 783. 7860. Do No Our businesses are closely integrated. They share leading edge business initiatives, excellent financial disciplines, a tradition of sharing talent and best practices, and a culture whose cornerstone is absolute unyielding integrity. Without these powerful ties, we could actually merit the label â€Å"conglomerate† that people often inaccurately apply to us. That word just does not apply to GE. . . . What we have is a company of diverse benefits whose sum is truly greater than the parts; a company executing with excellence despite a brutal global economy. . . . We believe GE is different, and one of the things that makes us different is that— in good times and in bad—we deliver. That is who we are. 4 tC While recognizing the need for change, Immelt saw little need to challenge the basic business model on which GE had operated for decades. Like his predecessor, he bristled at the characterization of GE as a conglomerate, preferring to see it as a well-integrated, diversified company. On taking charge, he explained: op yo The consistent reliability of GE’s growth had created an image in shareholders’ minds of a powerful machine that could not be stopped and earned the company a significant premium over price/earnings multiples in the broad stock market. As a result, over two decades, GE had generated a compound annual total return to shareholders of more than 23% per annum through the 1980s and 1990s. (See Exhibit 3 for summary GE financials, 1981–2000. ) But Immelt was very conscious that he could not hope to replicate that performance by simply continuing the same strategy. â€Å"I looked at the world post-9/11 and realized that over the next 10 or 20 years, there was not going to be much tailwind,† he said. â€Å"It would be more driven by innovation, and a premium would be placed on companies that could generate their own growth. 3 rP os t GE’s Growth Strategy: The Immelt Initiative 306-087 †¢ Technical leadership: Believing that technology had been at GE’s core since the day Thomas Edison founded the company, Immelt committed to technical leadership as a key driver of future growth. †¢ Services acceleration: By building service businesses on its massive installed base of aircraft engines, power turbines, locomotives, medical devices, and other hardware, Immelt believed GE could better serve customers while generating high margins and raising entry barriers. Commercial excellence: Reflecting his own sales and marketing background, Immelt committed to creating a world-class commercial culture to overlay the engineering bias and financial orientation of GE’s dominant business approach under Welch. †¢ †¢ †¢ Growth platforms: Finally, he recognized that significant resource reallocation would be necessary to build new business platforms capitalizing on â€Å"unstoppable trends† that would provide growth into the future. Because plans at GE always came with measurable goals attached, Immelt committed to increasing the company’s organic growth from its historical 5% annual rate to 8% and, beginning in 2005, to generating consistent double-digit earnings growth. Investing through the Down Cycle Do No Within weeks of taking charge, he started making significant investments to align GE’s businesses for growth. Seeing opportunities to expand its NBC broadcast business to capture the fast-growing Hispanic advertising market, for example, the company acquired the Telemundo and Bravo networks. And its power-generation business acquired Enron’s wind energy business as a new platform that management felt was positioned for long-term growth and high returns in the future. In addition to these and other natural business extensions, management identified whole new segments that provided a stronger foundation for innovation and where future market opportunities would drive rapid growth. For example, in security systems, GE acquired Interlogix, a medium-sized player with excellent technology, and in water services, it bought BetzDearborn, a leading company with 2,000 sales engineers on the ground. Internally, Immelt also lost little time in making big financial commitments to the growth strategy. Within his first six months, he committed $100 million to upgrade GE’s major research and development (RD) facility at Nishayuna in upstate New York. In addition to building new laboratories, the investment provided for new meeting centers on Nishayuna’s 525-acre campus, creating an environment where business managers and technologists could meet to discuss priorities. 3 This document is authorized for use only by DINDIN SYARIFUDIN until August 2009. Copying or posting is an infringement of copyright. Permissions@hbsp. harvard. du or 617. 783. 7860. tC Perhaps predictably, the press was skeptical of the notion that a $130 billion company could grow at two to three times the global gross national product (GNP) rate. Still, there was no shortage of advice for the new CEO in his attempt to make the company do so. Some suggested he should sell off the mature lighting and app liances businesses. 5 Others proposed bold expansions—into the hospital business, for example. 6 And as always, there were calls for GE to break up the company and sell off its component businesses. 7 But Immelt insisted GE had great businesses that provided a strong foundation for the future. All he planned to do was rebalance and renew the portfolio, then drive growth from the revitalized base. op yo Globalization: Building on an old Welch initiative, Immelt committed to expanding GE’s sourcing strategy and market access worldwide, in particular focusing on its underexploited opportunities in developing world countries such as China and India. rP os t 306-087 GE’s Growth Strategy: The Immelt Initiative Scott Donnelly, a 40-year-old researcher who led GE’s overall RD activity, said, â€Å"GE is not the place for scientists who want to work on a concept for years without anybody bothering them. Here scientists can do long-term research, but they have to be willing to spar with the marketing guys. This is the best of both worlds. †8 Beyond its historic Nishayuna RD facility, in 2000 the company had established a center in Bangalore, India. To build on that global expansion, in 2002 Immelt authorized the construction of a new facility in Shanghai, China. And as the year wore on, he began talking about adding a fourth global facility, probably in Europe. a Despite the slowing economy, he upped the RD budget from $286 million in 2000 to $327 million in 2002. When asked about this increase in spending during such a difficult time for the company, he said, â€Å"Organic growth is the driver. Acquisitions are secondary to that—I can’t see us go out and pay a start-up $100 million for technology that, if we had just spent $2 million a year for 10 years, we could’ve done a better job at. I hate that, I just hate that. †10 Reflecting on his extensive investments in 2002, a year in which the stock dropped a further 39% from its 2001 close, Immelt said: Financial strength gives us the ability to invest in growth and we have viewed this economic cycle as a time to invest. We’ve increased the number of engineers, salespeople, and service resources. We will invest more than $3 billion in technology, including major investments in our global resource centers. We’ve strengthened our commitment to China, increasing resources there 25% in 2002, and we’ve increased our presence in Europe. Acquisitions are a key form of investment for us and we have invested nearly $35 billion in acquisitions over the past two years. They are a key way for us to redeploy cash flow for our future growth. 11 Ongoing Operations: Rigor and Responsiveness To fund his strategy, Immelt drew his first source of capital from the sale of underperforming businesses, and the company’s struggling insurance business was his prime target for divesture. But in the depths of an economic downturn, getting good prices for any business was not easy. So the investments needed to drive the company’s growth still relied primarily on funds generated by ongoing operations, and Immelt drove the organization to deliver on the market’s expectations for current-year performance. Picking up on initiatives launched years earlier, he harnessed wellembedded capabilities such as Six Sigma and digitization to drive out costs, increase process efficiency, and manage resources more effectively. Do a In 2003, GE opened its Shanghai research center and broke ground for another center in Siemens’s backyard in Munich, Germany. In 2004, its 2,500 researchers worldwide filed for more than 450 patents. 4 This document is authorized for use only by DINDIN SYARIFUDIN until August 2009. Copying or posting is an infringement of copyright. Permissions@hbsp. harvard. du or 617. 783. 7860. No tC op yo Although Immelt was willing to increase his commitment to RD, he pushed to change the balance of work being done. In addition to developing technologically sophisticated new products, he wanted to commit more resources to longer-term research that might not pay off for a decade or more. In the past, limited commitment to such long-term research had frustrated many of the cent er’s science and engineering Ph. Ds. (â€Å"Science was a dirty word for a while,† said Anil Duggal, a project leader on the advanced lighting project. â€Å"Now it’s not. )9 In selecting the long-term projects for funding, Donnelly whittled down more than 2,000 proposals and then worked with researchers to come up with the technologies that could transform a business. From the 20 big ideas his staff proposed, Donnelly had them focus on a group of five, representing fields as diverse as nanotechnology, advanced propulsion, and biotechnology. rP os t GE’s Growth Strategy: The Immelt Initiative 306-087 In this tough environment, Immelt’s primary operating focus was on cash flow, and he realigned all the powerful tools in GE’s toolbox to meet that objective. For example, Six Sigma discipline was applied to reducing the cash tied up in inventory and receivables, while process digitization was focused on sourcing economies and infrastructure efficiencies. By 2002, digitization alone was generating savings of almost $2 billion of savings a year. As always at GE, initiatives were tied to metrics, with 60% of incentive compensation dependent on cash flow generation. So, despite a tough 2002 economy that held GE’s revenue growth to 5%, its cash flow from operations was $15. 2 billion, up 10% on the previous year. Do No The new CEO also wanted to create a more open and less hard-edged environment within the company. He asked the 2002 class of GE’s Executive Development Course (EDC) to study where GE stood in its approach to corporate responsibility. b Historically, this was not an issue that had received much attention at GE. Although Welch had always emphasized the importance of integrity and compliance, he had shown little interest in reaching beyond that legal requirement. The several dozen participants in the 2002 EDC visited investors, regulators, activists, and 65 companies in the U. S. nd Europe to understand how GE was performing in terms of corporate responsibility. They reported to top management that although the company was ranked in the top five for its financial performance, investment value, and management talent, it was number 72 for social responsibility. One outcome of the EDC group’s report was that Immelt appointed GE’s first vice president for corporate citi zenship. He tapped Bob Corcoran, a trusted colleague from his days running GE Medical Systems, to lead an effort to ensure that the company was more sensitive and responsive to its broader societal responsibilities. Ever the pragmatist, Immelt saw this as more than just an altruistic response. He believed it was important for the company to remain effective: To be a great company today, you also have to be a good company. The reason people come to work for GE is that they want to be involved in something bigger than themselves. They bEDC was the top-level course at GE’s renowned Crotonville training center and was reserved for those destined for the most senior echelons of management at GE. As part of their studies, each EDC class was assigned a major corporate issue to study in teams and then report back to GE’s Corporate Executive Council. C Immelt understood that in such a skeptical environment, there was a need for a CEO to establish much more openness and trust. Since his natural style tended to be open and communicative, he was perfectly comfortable with the idea of increasing the transparency of GE’s often complex operations. In July 2002, to make the performance of G E’s financial businesses easier to understand, he broke GE Capital into four separate businesses, each with its own balance sheet and explicit growth strategy. He also committed to communicating more frequently and in more detail with investors. We have the goal of talking about GE externally the way we run it internally,† he said. After his first analysts meeting, where everyone got an advance bound copy of the data and forecasts, BusinessWeek commented, â€Å"That’s already a break with the Welch regime where, some say, you were scared to blink in case you missed a chart. †14 op yo Although this disciplined approach was reminiscent of GE in decades past, Immelt’s management style contrasted with Welch’s in many ways. First, he recognized that in a post-Enron world, corporate executives faced a more skeptical and often cynical group of critics. For example, an article in BusinessWeek suggested, â€Å"Increasingly, the Welch record of steady double digit growth is looking less like a miracle of brilliant management and more like clever accounting that kept investors fat and happy in boom times. †12 And The Economist opined, â€Å"Immelt has had a torrid time since taking over from Jack Welch, GE’s former boss, in 2001. Waking from the dreamy 1990s, investors discovered that GE was not, after all, a smooth earnings machine that pumped out profit growth of 16 to 18% a year. †13 This document is authorized for use only by DINDIN SYARIFUDIN until August 2009. Copying or posting is an infringement of copyright. Permissions@hbsp. harvard. edu or 617. 783. 7860. rP os t 5 306-087 GE’s Growth Strategy: The Immelt Initiative want to work hard, they want to get promoted, they want stock options. But they also want to work for a company that makes a difference, a company that’s doing great things in the world. . . . It’s up to us to use our platform to be a good citizen. Because not only is it a nice thing to do, it’s a business imperative. 15 Rebuilding the Foundation: Beginning a Marathon In the midst of the turmoil, however, he reminded himself of advice he received from his predecessor. One of the things Jack said early on that I think is totally right is: It’s a marathon, it’s not a sprint,† Immelt recalled. â€Å"You have to have a plan, and you have to stick with it. You have to modify it at times, but every day you’ve got to get out there and play it hard. †17 Entering 2003 wi th that thought in mind, Immelt continued to drive his growth-strategy agenda. Rebalancing the Portfolio Do Two days after announcing final terms in its purchase of Vivendi-Universal Entertainment (VUE), GE announced an agreement to purchase Amersham, a British life sciences and medical diagnostic company that Immelt had been pursuing for many months. He believed that health care was moving into an era of biotechnology, advanced diagnostics, and targeted therapies and combining GE’s imaging technology with Amersham’s pharmaceutical biomarkers, for example, could create whole new ways of diagnosing and treating diseases. At $10 billion, this was a more expensive acquisition but one that he believed could boost GE’s $9 billion medical products business to a $15 billion business by 2005. More important, he saw it as an engine of growth that would continue for years and even decades into the future. In his mind, it was a classic â€Å"growth platform. † This document is authorized for use only by DINDIN SYARIFUDIN until August 2009. Copying or posting is an infringement of copyright. Permissions@hbsp. harvard. edu or 617. 783. 7860. No Immelt’s vision was to create a media business that was better positioned for a digital future. The NBC franchise, although strong, was being buffeted by changes in me dia distribution that saw the share of broadcast television’s market shrinking. Universal added content, production facilities, cable distribution, and a strong management team—all assets that Immelt felt could greatly strengthen GE’s core business. On top of that, the $5. 5 billion up-front purchase price for assets valued at $14 billion was seen as an excellent buy. tC The year turned out to be an important one in the new CEO’s efforts to rebuild the business portfolio on which he would drive GE’s growth. Even after completing $35 billion worth of acquisitions in the previous two years, 2003 became the biggest acquisition year in GE’s history with total commitments exceeding $30 billion. The first megadeal came when the company decided to bid for the Universal entertainment business of French conglomerate Vivendi. Defying those who suggested that GE should exit the volatile media business, Immelt pushed ahead with the acquisition, which included Universal’s film library, film studio, cable services, and theme park. â€Å"This is about stuff we know how to do,† he said. â€Å"We understand the nuances of this industry and where it’s going. †18 op yo As 2003 began, Immelt was not sorry to see the end of his first full year as CEO. Despite all his efforts, 2002 had been a terrible year for the company. Revenues were up only 5% after a 3% decline the prior year. And rather than the double-digit growth he had promised, 2002 earnings increased by only 7%. By year’s end the stock was at $24, down 39% from the year before and 60% from its all-time high of $60 in August 2000. Having lived through a struggling economy, the post-9/11 chaos, new regulatory demands following the corporate scandals, and an unstable global political situation, Immelt commented, â€Å"This was a not a great year to be a rookie CEO. †16 rP os t GE’s Growth Strategy: The Immelt Initiative 306-087 The real issue that many saw in the deal, however, was less about strategic fit than organizational compatibility. The concern was that the highly innovative, science-oriented talent that Amersham had developed in the U. K. would not thrive when swallowed up by GE. It was the same criticism that Immelt had heard when critics wondered whether the creative talent in Universal’s film studios would tolerate the management discipline for which GE was so well-known. But the idea of bringing creative and innovative outsiders into GE was part of the appeal to Immelt. He saw people like Sir William Castell, Amersham’s CEO, as major assets who could help develop in GE the culture of innovation that he longed to build. To emphasize the point, he put U. K. -based Castell in charge of the combined $14 billion business renamed GE Health Care and made him a vice chairman of GE. For the first time, one of the company’s major businesses would be headquartered outside of the United States, a move that Immelt felt fit well with his thrust of globalization. Focusing on Customers, Emphasizing Services Do No In addition to his portfolio changes, the new CEO kept working on his internal growth initiatives. As an ex-salesman, Immelt had always directed attention toward the customer, and one of his priorities was to redirect GE’s somewhat internal focus—an unintended by-product of Welch’s obsession with operating efficiency and cost-cutting—toward the external environment. â€Å"In a deflationary world, you could get margin by working productivity,† he said. â€Å"Now you need marketing to get a price. †19 In 2001, among his first appointments had been Beth Comstock, named as GE’s first chief marketing officer. Next, to drive the change deeper, he redeployed most of GE’s extensive business development staff into marketing roles, then asked each of GE’s businesses to appoint a VP-level marketing head, many of whom had to be recruited from the outside. â€Å"We hired literally thousands of marketers,† he said. â€Å"For the best, we created the Experienced Commercial Leadership Program, the kind of intensive course we’ve long offered in finance. That’s 200 people a year, every year. †20 cAfter taking a $1. 4 billion write-off in 2004 due to claims relating to asbestos and September 11, the company finally sold ERC for $8. billion in 2005, but only after booking another $2. 9 billion insurance loss. tC To communicate the major portfolio transformation he had undertaken to date, in 2003 Immelt began describing GE’s businesses as â€Å"growth engines† and â€Å"cash generators† (see Exhibit 4). He characterized the former, which acco unted for 85% of earnings, as market leaders that could grow at 15% annually through the business cycles with high returns. The latter were acknowledged as being more cyclical in nature but with consistently strong cash flows. p yo The other great challenge in the ongoing task of portfolio rebalancing was that GE was finding it difficult to dispose of some of the assets it no longer regarded as vital. While the recession provided lots of buying opportunities if one was willing to step up and invest, it was hardly an ideal environment in which to be selling businesses. For GE, the biggest challenge was to find buyers for the struggling insurance businesses. Although its 2003 sale of three of its major insurance entities had freed up $4. billion in cash, the company was still trying to find a buyer for Employers Reinsurance Company (ERC), a business generating huge ongoing losses due to its poor underwriting in the late 1990s. c And several other GE businesses from motors to super adh esives remained on the blocks with no bidder offering a price the company was willing to accept. Part of the problem was that bidders felt that if GE had run the business for years, most of the potential savings had already been extracted, making the units being offered less attractive for a company that wanted to squeeze out costs. This document is authorized for use only by DINDIN SYARIFUDIN until August 2009. Copying or posting is an infringement of copyright. Permissions@hbsp. harvard. edu or 617. 783. 7860. rP os t 7 306-087 GE’s Growth Strategy: The Immelt Initiative In 2003, with strong marketing capabilities now embedded in the businesses, he formed a Commercial Council to bring GE’s best sales and marketing leaders together in a forum that could transfer best practice, drive initiatives rapidly through the organization, and develop a world-class commercial culture. Chaired by Immelt personally, the council’s agenda included developing worldclass marketing capabilities, taking Six Sigma to customers, and driving sales force effectiveness. As always, metrics were attached. Using a tool called Net Promoter Score (NPS), the company began to track changes in customer attitudes and loyalty, tying compensation to improvements in NPS scores. â€Å"If we can create a sales and marketing function that’s as good as finance at GE, I’ll change this company,† he said. â€Å"But it will take ten years to drive these changes. †21 Yet despite all these efforts, the reality was that just as many of GE’s roducts were becoming commodities, its service contracts were increasingly going to the lowest bidder and not providing the barriers to entry they once did. GE’s solution was to make itself indispensable by building enduring relationships based not only on offering its products and services but also its expertise. One initiative, dubbed â€Å"At the Customer, For the Customer† (ACFC, as it soon became known), was designed to bring GE’s most effective internal tools and practices to bear on its customers’ challenges. Immelt used health care as an example of what GE could offer. With cost control being a major concern as health-care expenditures headed toward 20% of GDP, Immelt felt that GE could help its customers, only 50% of which were profitable. â€Å"Through our health care services agreements, we are the hospitals’ productivity partner,† he said. â€Å"We completed more than 6,000 Six Sigma projects with health care providers in 2002 and these projects are improving the quality of patient care and lowering costs. †22 In addition, the company began bundling its services and linking its products to clinical information technology. It also added a health-care financial services business to the GE Health Care organization to provide it with specialized financing support. â€Å"The phrase ‘solutions provider’ is so overused it makes us all snore,† said Immelt. â€Å"I want GE to be essential to those whom we serve, a critical part of the profit equation, a long-term partner, a friend. †23 Driving for Growth: New Platforms, New Processes Beginning in 2002, Immelt had challenged his business leaders to identify growth business platforms with the potential to generate $1 billion in operating profit within the next few years. In response, six opportunities had emerged: health-care information systems, security and sensors, water technology and services, oil and gas technology, Hispanic broadcasting, and consumer finance. By the end of 2002, these businesses represented $9 billion in revenue and $2 billion in operating profit. But, as Immelt pointed out, at a 15% annual organic growth rate, they were on track to become a much larger portion of GE’s future business portfolio. With 2003’s major acquisitions such as Amersham and VUE, the company added new growth platforms such as biosciences and film/DVD to its list. Through other acquisitions, renewable energy Do 8 This document is authorized for use only by DINDIN SYARIFUDIN until August 2009. Copying or posting is an infringement of copyright. Permissions@hbsp. harvard. edu or 617. 783. 7860. No tC op yo Immelt also believed GE could significantly strengthen its customer relationships by becoming more of a services provider. In 2002, $23 billion of the company’s $132 billion revenue came from services, but with its massive installed base of more than 100,000 long-lived jet engines, locomotives, power generators, and medical devices in the field, the CEO saw the potential service annuity stream. As someone who had increased GE Medical Systems’ share of service business from 25% to 42% in the three and a half years he headed that operation, Immelt was convinced that services could grow much faster than hardware and at much higher profit levels. To underscore his belief, whenever businesses developed important service contracts—GE Transportation’s sale of its IT-based dispatch system to railroad customers to increase locomotive utilization, for example—he celebrated them very publicly. rP os t GE’s Growth Strategy: The Immelt Initiative 06-087 (wind, solar, biomass), coal gasification, and supply chain financing became elements of GE’s new growth platform. And the emphasis on services built a series of businesses in environmental services, nondestructive testing, and asset optimization that were also seen as having high growth potential. In defining and then building these growth platforms, GE followed its normal disciplined approach. First, management segmented the broad markets and identified the high-growth segments where they believed they could add value. Then, they typically launched their initiative with a small acquisition in that growth platform. After integrating it into GE, the objective was to transform the acquisition’s business model by applying GE growth initiatives (services and globalization, for example) that could leverage its existing resources and capabilities. As a final step, the company applied its financial muscle to the new business, allowing it to invest in organic growth or further acquisitions. The objective was to grow it rapidly while simultaneously generating solid returns. As Immelt summarized, â€Å"A key GE strength is our ability to conceptualize the future, to identify unstoppable trends, and to develop new ways to grow. The growth platforms we have identified are markets that have above average growth rates and can uniquely benefit from GE’s capabilities. . . . Growth is the initiative, the core competency that we are building in GE. †24 Aligning Management: New People Profiles The biggest challenge Immelt saw in implementing his agenda was to make growth the personal mission of every one of the company’s 310,000 employees worldwide. If I want people to take more risks, solve bigger problems, and grow the business in a way that’s never been done before, I have to make it personal,† he said. â€Å"So I tell people, ‘Start your career tomorrow. If you had a bad year, learn from it and do better. If you had a good year, I’ve already forgotten about it. ’†25 As the company began to implement its new growth strategy, the CEO worried that some of his current management team might not have the skills or abilities to succeed in the more entrepreneurial risk-taking environment he was trying to create. Realizing that this implied a massive challenge to develop a new generation of what he termed â€Å"growth leaders,† he said: Historically, we have been known as a company that developed professional managers . . . broad problem solvers with experience in multiple businesses and functions. However, I wanted to raise a generation of growth leaders—people with market depth, customer touch, and technical understanding. This change emphasizes depth. We are expecting people to spend more time in a business or a job. We think this will help leaders develop â€Å"market instincts† so important for growth, and the confidence to grow global businesses. 26 Do No Beyond changes in career path development that emphasized more in-depth experience and fewer job rotations, GE’s HR professionals wanted to identify the new personal competencies that growth leaders would need to exhibit. Benchmarking GE against best practice, they researched the leadership tC op yo GE’s expansion into Hispanic broadcasting provides an example of the process. After identifying this as a fast-growth segment in its broadcast business, the company acquired Telemundo, the number two player in the Hispanic entertainment segment. Believing that the Hispanic demographic would drive growth, management felt that it would be able to apply GE’s capabilities to fix Telemundo’s struggling business model. Through 2002 and 2003, NBC offered its management and programming expertise, helping Telemundo to evolve from purchasing 80% of its content to producing two-thirds of its own broadcast material. In the second half of 2003, Telemundo grew its ratings by 50% over the first half and captured 25% of the Hispanic advertising market. The company expected revenues to grow more than 20% in 2004. This document is authorized for use only by DINDIN SYARIFUDIN until August 2009. Copying or posting is an infringement of copyright. Permissions@hbsp. harvard. edu or 617. 783. 7860. rP os t 9 306-087 GE’s Growth Strategy: The Immelt Initiative profiles at 15 large global companies —Toyota and Dell among them—that had grown for more than a decade at three times GDP rates or better. In late 2004, they arrived at a list of five action-oriented leadership traits they would require: an external focus that defines success in market terms; an ability to think clearly to simplify strategy into specific actions, make decisions, and communicate priorities; the imagination and courage to take risks on people and ideas; an ability to energize teams through inclusiveness and connection with people, building both loyalty and commitment; and an expertise in a function or domain, using depth as a source of confidence to drive change. To help develop these characteristics, each business created 20 to 30 â€Å"pillar jobs†: customer-facing, change-oriented assignments in which growth leaders could be developed in assignments of at least four to five years. The new leadership competencies also became the criteria for all internal training programs and were integrated into the evaluation processes used in all management feedback. Funding the Growth: Operating Excellence Do Yet another operating initiative called â€Å"simplification† aimed at reducing overhead from 11% of revenue to 8%. Targeting reductions in the number of legal entities, headquarters, â€Å"rooftops,† computer systems, and other overhead-type costs not directly linked to growth, the company set a goal of removing $3 billion of such costs over three years. In the first year, the commercial finance business consolidated into three customer service/operations centers and expected to save $300 million over three years. In another simplification move, the consumer and industrial business brought its three existing headquarters into one, saving more than $100 million in structural costs. And the transportation and energy businesses began sharing some IT and operational assets that also reduced structural costs by some $300 million annually. 10 This document is authorized for use only by DINDIN SYARIFUDIN until August 2009. Copying or posting is an infringement of copyright. Permissions@hbsp. harvard. edu or 617. 783. 7860. No By 2004, while the drives for cash generation and cost reduction were still in place, Immelt added a new initiative called Lean Six Sigma, which borrowed the classic tools of lean manufacturing and set them to new applications. In its industrial businesses, the focus was on reducing working capital and improving return on equity, while in its commercial finance business it was on margin expansion, risk management, and cost reduction. Through these efforts, in 2003–2004, the company achieved $2. 7 billion in improvement in working capital and expected that kind of progress to continue. tC While driving growth, Immelt never forgot that he inherited a great operating company. He did not want long-term growth to distract managers from current performance. I’ve always worried about a jailbreak,† he said. â€Å"How do we make sure people don’t say ‘Jeff doesn’t care about productivity’? †29 So he insisted that innovation be â€Å"funded with an intent to lead, but paid for by increasing productivity. †30 During 2003, for example, about one-third of the Six Sigma specialists were focused on a new initiative called â€Å"cash entitlement. † The tar get was for GE to be twice as good as competitors on a number of benchmarks such as accounts receivable or inventory turnover. At ull potential, Immelt told his team, it would free up an additional $7 billion in cash. op yo Immelt was also quite involved personally in developing growth leaders on his team. In response to a question about his time utilization, he said, â€Å"I’m probably spending 20% of my time with customers, 30% of my time on people, teaching and coaching . . . [and] 10% of my time on governance, working with the board, and meeting with investors. The rest would be time spent on the plumbing of the company, working on operating reviews and strategy sessions. 27 But, as he regularly pointed out, the time he spent on the â€Å"plumbing† in operating reviews and strategy sessions—â€Å"touch points,† he called them—was primarily about people development. He was committed to make â€Å"every moment a learning opportunity, every acti vity a source of evaluation. †28 rP os t GE’s Growth Strategy: The Immelt Initiative 306-087 Preparing for Liftoff: Innovation and Internationalization As 2004 progressed, the worldwide economy gradually started to turn around, and GE began showing signs of more robust growth. By year’s end, nine of its 11 businesses had grown their earnings by double digits. For the first time, Immelt sounded confident that the company was finally moving beyond the disappointing results of the previous three years and onto the growth trajectory for which he had been preparing it. In his annual letter to stakeholders in February 2005, he recalled his time as a college football player to draw a sports analogy to GE’s recent performance: GE has â€Å"played hurt† for the last few years. . . . So we went to the â€Å"training room. † These difficult years triggered a critical review of our capabilities, and as a result, we initiated an exciting transformation. We invested more than $60 billion to create a faster-growing company. We committed to divest $15 billion of slow-growth assets. We built new capabilities, launched new products, expanded globally and invested in the GE brand. Now the company has begun an era of strong performance. . . . We’re back at full strength. This is our time. 31 To underscore the point, he predicted that GE’s â€Å"growth engines†Ã¢â‚¬â€businesses whose earnings growth since 1999 had averaged 15% annually—would generate 90% of the company’s earnings in 2005, compared with only 67% in 2000. See Exhibit 5 for a representation of the shift. ) Due to this transformation of the business portfolio and also the addition of more than a dozen new capabilities from biosciences to renewable energy, Immelt claimed that for the first time in 20 years, GE was positioned to grow its industrial earnings faster than its financial services earnings. Imagination Breakthroughs Do No To drive hi s earlier growth platform challenge deep into the organization, the CEO launched a process he called â€Å"imagination breakthroughs,† quickly abbreviated to IBs. These were projects— technological innovations, market expansion opportunities, product commercialization proposals, or ideas to create value for customers—that had the potential to generate, over a three-year horizon, at least $100 million in incremental earnings. The process required each business leader to submit at least three breakthrough proposals a year for review by the Commercial Council. â€Å"Imagination Breakthroughs are a protected class of ideas—safe from budget slashers because I’ve blessed each one,† said Immelt. â€Å"What we’re trying to do is take risks, using my point of view. I have the biggest risk profile and broadest time horizon in the company . . . so I can bring to bear the right risk-taking and time horizon tradeoffs. †32 A year into the program, 80 IB initiatives had been identified and qualified—half technically based programs and half commercial innovations. Immelt had assigned the company’s best people to drive them and had committed $5 billion over the next three years to fully fund them. In that time, they were expected to deliver $25 billion of additional revenue growth. By 2005, 25 IBs were generating revenue. The big difference is that the business leaders have no choices here,† Immelt explained. â€Å"Nobody is allowed not to play. Nobody can say, ‘I’m going to sit this one out. ’ That’s the way you drive change. †33 Believing that the businesses could initiate 200 such projects over the next year or two, Immelt said, â€Å"Our employees want to live their dreams. It is up to me to give them that platform. I can help them take smart risks that will win over time. . . . We aim to be the best in the world at turning small ideas into huge businesses. †34 tC op yo This document is authorized for use only by DINDIN SYARIFUDIN until August 2009. Copying or posting is an infringement of copyright. Permissions@hbsp. harvard. edu or 617. 783. 7860. rP os t 11 306-087 GE’s Growth Strategy: The Immelt Initiative Of Town Halls and Dreaming To stimulate ideas that would drive the imagination breakthroughs, Immelt continued to push his leaders to get out in the field and in touch with the market. Setting the example himself by spending at least five days a month with customers, he began creating forums he called â€Å"town hall meetings. Here, several hundred customers would gather together to hear where GE’s CEO wanted to take his company, to provide input on that direction, and to suggest how GE could be more helpful to them. For example, in one meeting with the CEOs and key operating managers of companies in the railroad industry, Immelt spent an afternoon listening to their view of their industry situation, the key trends, and its fiv e- to 10-year outlook. GE’s CEO then asked them to think through a number of scenarios including higher fuel prices, a growth in east-west rail shipments due to increasing Chinese imports, and so on. He then challenged them to think through how they would spend $200 million to $400 million on RD at GE. The ensuing debate highlighted, for example, the relative importance of spending on fuel efficiency versus information technology to optimize rail movement planning. But Immelt was careful to note that while the company listened carefully to the input, GE always made its own choices on these investments. â€Å"I love customers. I get great insight from them, but I would never let them set our strategy for us,† he said. â€Å"But by talking to them, I can put it in my own language. Customers always pay our bills, but they will never pick our people or set our strategies. †36 Infrastructure for Developing Countries: A New Growth Market In 2004, Immelt’s push for globalization also began bearing fruit with revenues from outside the U. S. growing 18% to $72 billion. Of this, the developing world accounted for $21 billion, an even more impressive 37% increase on the previous year, leading Immelt to predict that over the next decade, 60% of GE’s international growth would come from developing countries. China represented the most visible growth opportunity, but he also planned to expand aggressively into India, Russia, Eastern Europe, Southeast Asia, the Middle East, and South America. Through the imagination breakthrough program, proposals for improving GE’s ways of doing business in the developing world began bubbling up. For example, one plan that would quickly generate $100 million in sales involved shipping unassembled locomotives to Russia, India, and China, where they would be assembled in local factories and workshops. Furthermore, through an initiative known as â€Å"one GE,† the ompany began creating vertical teams to deliver what it called enterprise selling. For example, companywide enterprise teams had targeted the Olympics in Beijing, Vancouver, and London and were aiming to deliver additional sales of $1 billion in energy, security, lighting, and health-care products to those venues. And increasingly GE was adopting â€Å"company-to-country relationship s† in selling infrastructure projects. It was an approach that had helped it book $8 billion in Middle East orders in 2005, twice the level of 2003. Do 12 This document is authorized for use only by DINDIN SYARIFUDIN until August 2009. Copying or posting is an infringement of copyright. Permissions@hbsp. harvard. edu or 617. 783. 7860. No tC op yo As an outgrowth of these meetings, Immelt decided to create another forum that he described as â€Å"dreaming sessions. † In these sessions, he engaged in intensive conversations with a group of senior executives drawn from key customers in a particular industry to try to identify major industry trends, their likely implications for them, and how GE might be able to help them. Immelt understood the importance of his own role in these meetings. â€Å"If I show up, we’ll get six CEOs to show up,† he said. â€Å"So you don’t have to cut through anything else if we all do it together. We can make some high-level tradeoffs that way. †35 rP os t GE’s Growth Strategy: The Immelt Initiative 306-087 Reorganizing for Efficiency—and Growth Driven by such developments, in July 2005, Immelt announced a major reorganization that consolidated GE’s 11 businesses into six large units, one of which was GE Infrastructure. Integrating aircraft engines, rail products, water energy, oil and gas, and some financial services, the unit was headed by GE veteran David Calhoun, who aimed to offer one-stop shopping for all infrastructure products and services. Immelt’s expectation was that by focusing on the needs of an underserved customer group—the governments of developing countries—GE could tap into investments in developing country infrastructure predicted to be $3 trillion over the next 10 years. Going Forward: Immelt’s Challenges His main challenge now as he saw it was to maintain the growth in this $150 billion global giant. But to those who felt GE was too big to grow so fast, he had a clear response: Do No The corporate landscape is littered with companies that allowed themselves to be trapped by size. But GE thrives because we use our size to help us grow. Our depth allows us to lead in big markets by providing unmatched solutions for our customers; our breadth allows us to spread concepts across the company, leveraging one small idea to create big financial gains; and our strength allows us to take the risks required to grow. . . Our goal is not just to be big, but to use our size to be great. 38 All he had to do now was convince the financial markets that the changes he had initiated would enable this global giant to deliver on his promise of continued double-digit growth. tC In 2006, Immelt felt that GE was well placed on the growth path he had laid out over four years earlier. Between 2002 and 2005, he had put $30 billion of divestitures on the block, completed $65 billion in acquisitions, and mad e major investments in new capabilities in technology, marketing, and innovation. He now represented GE’s growth engine as a linked six-part process (see Exhibit 6). While the components varied little from his original 2001 list of growth elements, he explained the difference: â€Å"You’ve got to have a process. Investors have to see it is repeatable. . . . It took time, though, to understand growth as a process. If I had worked out that wheel-shaped diagram in 2001, I would have started with it. But in reality, you get these things by wallowing in them awhile. †37 op yo While one objective of the reorganization was to create savings (expected to be $400 million in administrative costs alone), Immelt emphasized that a more important goal was to better align the businesses with customer and market needs. But he also made clear that he wanted to create an organization that gave more opportunity for younger growth leaders to drive their businesses. The six new macrobusiness groups—GE Industrial, GE Commercial Financial Services, NBC Universal, GE Health Care, GE Consumer Finance, and GE Infrastructure—would each be led by one of GE’s most experienced top executives. But these individuals would be forced to step back more from operations and spend most of their time coaching, developing, and supporting the younger managers who were to be pulled up into the 50-odd profit-responsible units directly under them. It was all part of the company’s commitment to developing its growth leaders and the businesses they ran. This document is authorized for use only by DINDIN SYARIFUDIN until August 2009. Copying or posting is an infringement of copyright. Permissions@hbsp. harvard. edu or 617. 783. 7860. rP os t 13 306-087 -14- Exhibit 1 GE’s Performance, 2001–2005: Selected Financial Data General Electric Company and Consolidated Affiliates (in millions, per share amounts in dollars) Do 2003 $112,886 13,766 2,057 15,823 -587 15,236 7,759 19. 60% 2002 $113,856 15,798 -616 15,182 -1,015 14,167 7,266 27. 20% 2001 $107,558 12,948 1,130 14,078 -287 13,791 6,555 24. 70% $ 1. 37 0. 2 1. 57 -0. 06 1. 51 1. 37 0. 21 1. 58 -0. 06 1. 52 0. 77 32. 42–21. 30 30. 98 503,610 647,828 170,309 10,018,587 670,000 $ 1. 58 -0. 06 1. 51 -0. 1 1. 41 1. 59 -0. 06 1. 52 -0. 1 1. 42 0. 73 41. 84–21. 40 24. 5 441,768 575,236 138,570 9,947,113 655,000 $ 1. 29 0. 11 1. 4 -0. 03 1. 37 1. 3 0. 11 1. 42 -0. 03 1. 39 0. 66 52. 90–28. 25 40. 08 373,550 495,012 77,818 9,932,245 625,000 No 2005 $149,702 18,275 -1,922 16,353 — 16,353 9,647 17. 60% 2004 $134,481 16,285 534 16,819 — 16,819 8,594 17. 60% tC 1. 73 -0. 18 1. 55 — 1. 55 0. 91 37. 34–32. 67 35. 05 626,586 673,342 212,281 10,569,805 634,000 161,000 155,000 316,000 This document is authorized for use only by DINDIN SYARIFUDIN until August 2009. Copying or posting is an infringement of copyright. Permissions@hbsp. harvard. edu or 617. 783. 7860. Selected Financial Data Revenues Earnings from continuing operations before accounting changes Earnings (loss) from discontinued operations, net of taxes Earnings before accounting changes Cumulative effect of accounting changes Net earnings Dividends declared Return on average shareowners’ equity (a) Per share Earnings from continuing operations before accounting changes— diluted Earnings (loss) from discontinued operations—diluted Earnings before accounting changes—diluted Cumulative effect of accounting changes—diluted Net earnings—diluted Earnings from continuing operations before accounting changes— basic Earnings (loss) from discontinued operations—basic Earnings before accounting changes—basic Cumulative effect of accounting changes—basic Net earnings—basic Dividends declared Stock price range Year-end closing stock price Total assets of continuing operations Total assets Long-term borrowings Shares o utstanding—average (in thousands) Shareowner accounts—average Employees at year-end United States Other Countries Total Employees op yo 1. 72 -0. 18 1. 54 — 1. 54 $ 1. 56 0. 05 1. 61 — 1. 61 1. 57 0. 05 1. 62 — 1. 62 0. 82 37. 75–28. 88 36. 5 618,241 750,507 207,871 10,399,629 658,000 165,000 142,000 307,000 155,000 150,000 305,000 $ 161,000 154,000 315,000 158,000 152,000 310,000 Source: GE 2005 Annual Report. rP os t GE’s Growth Strategy: The Immelt Initiative 306-087 Exhibit 2 GE Stock Price and P/E Multiple vs. S 500 Performance, 1995–2005 GE Price P/E vs. S 500 1995-2006 (indexed 1/1995=100) 700 GE Price S 500 (indexed 1/95=100) 600 500 400 300 200 100 0 97 96 95 Ja nJa nJa n- GE P/E S 500 GE Price op yo 99 00 01 02 Ja nJa n03 Ja nJa nJa n- 30 20 10 0 04 05 Ja nJa n06 Ja n- 98 Source: Thomson Datastream International. Do No tC Ja n- GE P/E (%) This document is authorized for use only by DINDIN SYARIFUDIN until August 2009. Copying or posting is an infringement of copyright. Permissions@hbsp. harvard. edu or 617. 783. 7860. rP os t 60 50 40 15 306-087 -16- Exhibit 3 GE Financial Performance, 1981–2000 ($ millions) Do 000 1999 1998 1997 1996 1991 1986 1981 $129,853 10,717 -9,296 4,081 25. 7% 25. 0% 24. 0% 3,535 3,138 1,808 12. 2% 8,203 7,280 2,636 –492 9,296 8,203 7,280 3,943 $111,630 $100,469 $90,840 $79,179 $51,283 $36,725 3,689 N/A 2,492 1,081 17. 3% $27,240 N/A N/A 1,652 715 19. 1% 12,735 –10,717 General Electric Company Consolidated Affiliates Revenues Earnings from continuing operations Loss from discontinued operations 12,735 4,786 Net earnings 5,647 26. 8% Dividends declared 27. 5% No 3. 87 3. 81 1. 71 1. 47 159. 5-94. 3 405,200 71,427 3,277,826 3,268,998 3,274,692 59,663 46,603 355,935 304,012 103. 9-69. 0 76. 6-47. 9 1. 25 1. 08 0. 95 3. 21 2. 80 2. 46 2. 16 3. 27 2. 84 2. 50 2. 20 2. 55 1. 51 1. 04 78. 1-53. 272,402 49,246 3,307,394 166,508 22,602 1,737,863 2. 73 N/A 1. 18 44. 4-33. 2 84,818 100,001 912,594 Earned on average shareowners’ equity Per share: Net earnings N/A N/A N/A 69. 9-51. 1 20,942 1,059 227,528 Net earnings—diluted tC 53. 1-34. 7 167,000 143,000 -310,000 293,000 -130,000 163,000 165,000 155,000 111,000 173,000 84,000 -62,000 -276,000 49,000 Dividends declared 181. 5-125. 0 437,006 82,132 3,299,037 Stock price rangea Total assets of continuing operations Long-term borrowings Shares outstanding—average (in thousands) Employees at year-end: 168,000 145,000 -313,000 United States 302,000 N/A 71,000 N/A N/A N/A 239,000 284,000 373,000 404,000 Other countries Discontinued operations (primarily U. S. ) Total employees op yo Source: GE annual reports, various years. This document is authorized for use only by DINDIN SYARIFUDIN until August 2009. Copying or posting is an infringement of copyright. Permissions@hbsp. harvard. edu or 617. 783. 7860. aPrice unadjusted for four 2-for-1 stock splits during the period. rP os t 306-087 -17- Exhibit 4 Do No tC op yo GE Portfolio: Growth Engines and Cash Generators This document is authorized for use only by DINDIN SYARIFUDIN until August 2009. Copying or posting is an infringement of copyright. Permissions@hbsp. harvard. edu or 617. 783. 7860. As of January 1, 2004, GE has reorganized its 13 businesses into 11 focused on markets and customers—seven Growth Engines, which generate about 85% of earnings and are market leaders with strengths in technology, cost, services, global distribution and capital efficiency; and four Cash Generators, which consistently generate strong cash flow and grow earnings in an expanding economy. This chart reflects the most significant changes: the combination of Aircraft Engines and Rail into GE Transportation; the combination of Industrial Systems and Consumer Products into Consumer Industrial, with portions of Industrial Systems moving to other businesses; and the formation of Infrastructure from portions of Industrial Systems and Specialty Materials. Results for 2003 in this annual report are reported on the 13-business basis in effect in 2003. P os t Source: GE 2003 Annual Report, p. 6. 306-087 GE’s Growth Strategy: The Immelt Initiative Exhibit 5 GE’s Representation o f its Portfolio Transformation, 2000–2006 Portfolio Transformation GE has added more than a dozen new capabilities to its seven Growth Engines, which should generate approximately 90% of GE’s earnings in 2005, substantially more than five years ago. The Growth Engines—Transportation, Energy, Healthcare, NBC Universal, Infrastructure, Commercial Finance and Consumer Finance—are robust, capital-effective businesses with leadership positions for sustained doubledigit earnings and cash flow growth. New Growth Capabilities Biosciences Film + DVD Healthcare Information Technology Renewable Energy (Wind, Solar, Biomass) Coal Gasification Water Security Hispanic Television Oil Gas Exploration Technology Services (Asset Optimization, Environmental Services, Non-Destructive Testing) â€Å"Vertical† Financing Full Supply-Chain Financing Real Estate Operations Global Mortgage Source: GE 2004 Annual Report, p. 4. Do 18 This document is authorized for use only by DINDIN SYARIFUDIN until August 2009. Copying or posting is an infringement of copyright. Permissions@hbsp. harvard. edu or 617. 783. 7860. No tC op yo rP os t GE’s Growth Strategy: The Immelt Initiative 306-087 Exhibit 6 GE Growth Strategy: Core Elements, 2005 Version Customer Value Use our process excellence to create customer value and drive growth Growth Leaders Inspire and develop people who know how to help customers and GE grow Globalization tC Create opportunities everywhere and expand in developing markets Do No Source: ———————————————————————————————————————————————-GROWTH IS THE GE INITIATIVE After growing historically at an average of 5% revenue growth, in 2004, we launched this initiative to achieve 8% organic growth per year. This is about twice the rate of our industrial and financial peers. We want to make organic growth a process that is predictable and reliable. ———————†”———————————————————————————————————————- GE 2005 Annual Report. op yo Execute for Growth Commercial Excellence Create a world-class marketing and sales capability to drive â€Å"one GE† in the marketplace This document is authorized for use only by DINDIN SYARIFUDIN until August 2009. Copying or posting is an infringement of copyright. Permissions@hbsp. harvard. edu or 617. 783. 7860. rP os t Innovation Generate new ideas and develop capabilities to make them a reality Leadership in Technology Have the best products, content and s How to cite Case of Ge Growth, Papers