The business strategy of General Electric: innovation and creative thinking

Among the hundreds of thousands of companies that form the extended network of the business world, being genuinely admired is something of a rarity, let alone ranking in the top twenty of that classification. Many people associate multinational conglomerates with robber barons and greedy industrialists who seek only personal profit through exploiting poorer countries or cutting ethical corners. It is difficult to imagine how a company of more than 300,000 employees could still manage to be grounded and respected in the global marketplace where profit has long been king.

One of the main reasons why GE has remained such a powerful and prestigious company, despite its ever-increasing size and involvement is the impact that it has on the world. GE’s slogan is “Imagination At Work”, which implies that innovation and creative thinking is one of the fundamental theories behind the company function. Those are not just words for the leaders of GE, and their dedication to improving and advancing the world’s industries towards healthier, more efficient, safer, and more profitable levels is revered by millions of people.

High among that list of admirers are the people that work there; the massive workforce of GE is one of the happiest and most satisfied in the world. The important work that GE does every single day creates a real impact on industries, and that tangible justification for long hours and challenging projects makes it all worthwhile. Their compensation may not be the highest for employees working in huge multinational corporations, but every day, workers can leave with the knowledge that they have contributed to society as a whole. Research and development is probably the most significant area of the company, as they are the innovators and dreamers that push the world forward, and although other businesses might stimulate growth and progress in specific industries, GE is dedicated towards taking the problems of the world on its back and driving society towards the future. That is a massive responsibility, and like all great business endeavors, it begins and ends with the hard work and devotion of its employees that “make the magic happen.”

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Can Akdeniz

Can Akdeniz is the author of seven books and founder of Business Hacker, a popular business blog. His books such as Go Nuts, Cool Boss, Happy Company and MBA 2.0 have changed how people think about business, productivity and work.