GE Global: Distinctive Competence in the Area of Innovation - Case Study Example

GE GLOBAL: DISTINCTIVE COMPETENCE IN THE AREA OF INNOVATION GE Global: Distinctive Competence in the area of Innovation Affiliation Table of Contents GE Global Research: An Overview 3 GE’s Deployment of Resources 4 Technologies 6 Industries 6 Locations 7 Attaining Competitive Advantages 7 Industrial Innovation 8 Global Research and Innovation 8 New Technology Development and Revolting 9 Customer Needs Management 9 Social Services 10 Conclusion 10 References 11 12 Introduction This is the era of information and communication technologies, in which business organizations need to pay serious attention to numerous emerging innovative tools and technologies. In fact, it is essential for survival of businesses as well as their progressive growth. In this scenario, the term competitive advantage is in one of those well-known phrases that have developed into an alternate thought. Nowadays, majority of business organizations use information technology to attain a significant competitive edge over other organizations. Though, the competitive advantage is tangible and many aspects of competitive advantage can be evaluated easily. In addition, competitive edge is the most important gauge for a business environment. Moreover, it is a significant aspect to maintain and achieve organizational success (Pietersen, 2012; Turban, Leidner, McLean, & Wetherbe, 2005). This paper outlines some of the major areas and aspects of GE Global Research Corporation for the assessment of its innovative capabilities. This paper also discusses that how this organization can achieve distinctive competence in the area of innovation. The basic aim of this research is to determine “how the company has bundled its technology resources to contribute to competitive advantage in its businesses. GE Global Research: An Overview GE Global Research is one of the world leading industrial research and analytical centers, which offers ground-breaking technology for all GE’s businesses. Additionally, Global Research has been the foundation stone of GE technology for over 100 years, bringing advancements and modernisms in areas like energy generation technology, medical imaging, lighting and jet engines. In addition, the head office of GE Global Research Corporation is located in Niskayuna and New York along with three other corporate management and organizing multidisciplinary facilities in Shanghai (China), Bangalore (India) and Munich (Germany). Moreover, more than 2800 researchers are working at GE Global Research Corporation, with the purpose of bringing the next technological advancements that will transform the environment of GE businesses. Furthermore, GE Global Research Corporation possess a wide-ranging set of technology expertise varying from biosciences to computing, electronics to chemistry, materials to imaging, metallurgy to fluid mechanics and everything in between (General Electric Company, 2012). GE’s Deployment of Resources Attaining a competitive edge over other competitors and distinctive position in market and improving corporate performance in relation to their competitors are the major objectives that GE business especially wants to achieve. In this scenario, the competitive edge is an idea that turns out to be a main research area as far as strategic management is concerned. In order to strive successfully, organizational polices either locally or globally and standards must meet a long run policy as compared to policy formulation for a short term. Although this task is not simple to perform, in fact it requires ample efficiency, detailed overview or regulations and comprehensive analysis of policies. Thus, in an attempt to compete and maintain effectively, locally and internationally, GE businesses should not simply do extremely well in their area but as well continue in the long run. However, the accomplishment of such a “ground breaking and sustainable competitive advantage” and market position is not a possible without an appropriate road map or policy implementation. In addition, the competitive advantage is an outcome which is connected with a long list of contributing issues. These issues can occur due to mergers and acquisitions, operational efficiencies, levels of diversification, organizational structures, human resource administration, categories of diversification, higher management team composition and style, management of the political and social pressures on marketplace, global or cross-cultural behavior of expansion and adjustment, conformity to a variety of understandings of socially responsible behaviors, and a range of additional organizational and business level phenomena (Raduan, Jegak, Haslinda, & Alimin, 2009). Moreover, for the deployment of resources in different business areas and improvement of the business performance through better corporate support, GE Global Research has established several research sectors, which are based on manufacturing and industrial analysis and research labs, offering ground-breaking technology in support of all GE businesses and industrial areas. Global Research has been the foundation stone for the GE technology for over 100 years, discovering and implementing advancements and modernism in different areas. In fact, the motto of GE Global Research is “what we imagine we make happen”. In this scenario, GE Global Research has a persistent passion to discover solutions to tomorrows issues and areas, building and developing revolutionary technologies that will improve peoples lives and transform the world (General Electric Company, 2012). Presented below are some of the major technology areas and resources that are under research and innovation of GE global research:1 Technologies Advanced Technologies Aero-Thermal and Mechanical Systems Chemistry and Chemical Engineering Diagnostics and Biomedical Technologies Electrical Technologies and Systems Manufacturing and Materials Technologies Software Sciences and Analytics Industries Appliances Aviation Electrical Distribution Energy Healthcare Lighting Oil and Gas Transportation Water Locations GE Global Research has built several labs in a number of worldwide locations for the development and innovation of technology based solutions. These locations are outlined below2: Niskayuna, NY USA Bangalore, India Shanghai, China Munich, Germany Rio de Janeiro, Brazil Attaining Competitive Advantages At the present, GE Global Research Corporation is developing information technology based systems and bringing innovation. However, with new technology based systems development, deployment, improvement and supporting revolutionized research areas GE has attained a ground breaking revolution in business and other development areas. In addition, technical management always requires continuous investment, enormous talent and modernism. Moreover, with a team of more than 40,000 brilliant scientists and engineers, 4 Worldwide Research Centers along with approximately 6 percent of infrastructure revenues spent on assets in modernism, GE has a broad pipeline of innovative products as compared to ever before. Furthermore, GE Research has paid 14 percent for copyrights, which demonstrates GE is spending a lot in innovation and future expansion (General Electric Company1, 2012; General Electric Company2, 2012; General Electric Company3, 2012; General Electric Company4, 2004; King, 2012). Industrial Innovation GE’s struggle for innovation has bundled its technology resources to contribute to competitive advantage for its businesses. For example, the business has established industrial innovation by serving over 20 industries, including water, energy, transportation, oil and gas, manufacturing and food and beverage. In addition, GE Corporation has combined both service and software in order to develop real-time decision-making, implemented extra efficient processes to bring innovation and ensured quality as well as regulatory compliance for customers all through the world. GE’s exclusive domain, skills, extensively installed base and world-class outfitted sharpness help clients turn data into active business intelligence for mission-critical requirements (General Electric Company1, 2012; General Electric Company2, 2012; General Electric Company3, 2012; General Electric Company4, 2004; King, 2012). Global Research and Innovation In order to attain a competitive edge, GE Global Research has incorporated a wide variety of processes internationally to standardize its brands as well as recentralized organizational arrangement all through the globe. In addition, in resource-rich areas such as Middle East, Russia and Latin America, and in emerging Asian nations such as China and India; where expansion is double that of the industrial world, GE has adopted a strategic track. Moreover, GE has combined technology, research, operations and talent to “go where the expansion is” (General Electric Company1, 2012; General Electric Company2, 2012; General Electric Company3, 2012; General Electric Company4, 2004; King, 2012). New Technology Development and Revolting For attaining a high level competitive edge, GE has adopted very simple plan which includes, expanding its business in those marketplaces that GE knows well, formulating numerous scalable bets, restricting inorganic and organic investments, and making use of corporate worldwide sales, researching for the opportunities to develop brand new billion-dollar businesses. In the past few years, GE business has developed its renewable oil and gas, energy, water treatment and life sciences companies to generate revenue of $20 billion per year. In addition, GE Corporation is planning to develop another 20 projects in the same way (General Electric Company1, 2012; General Electric Company2, 2012; General Electric Company3, 2012; General Electric Company4, 2004; King, 2012). Customer Needs Management Connecting industrial and financial businesses helps GE Corporation make effective use of widespread industry knowledge to deal with customers’ requirements. In this scenario, GE Corporation believes in making a customer an essential partner of the business. In addition, the majority of its customers include small and medium-size businesses. GE Corporation presets them not simply the most excellent products and services, but as well access to capital and a complete reorganization of their industries that any other business organization is not able to do. Moreover, for GE shareowners, business capital is a precious franchise offering high-level earnings and cash flow to raise savings in companywide expansion (General Electric Company1, 2012; General Electric Company2, 2012; General Electric Company3, 2012; General Electric Company4, 2004; King, 2012). Social Services GE business has established a vital aspect regarding clean energy management. In this scenario, GE Corporation is aimed at establishing additional affordable healthcare. GE business has offered access to smarter capital. In addition, GE Corporation adopts a wide variety of requirements with solutions that carry human progress and sustainable expansion for GE and GE’s shareowners. This is the influential premise behind GE’s healthyimagination and ecomagination policy. Additionally, they carry mutually investment, imagination and technology to facilitate GE and corporate clients to produce revenue, at the same time as minimizing emissions and offering healthcare to people (General Electric Company1, 2012; General Electric Company2, 2012; General Electric Company3, 2012; General Electric Company4, 2004; King, 2012). Conclusion This paper has presented a detailed analysis of some of the important aspects of GE business and how this business is able to attain competitive edge through improved technology and research innovation. The term competitive advantage is in one of those well-known phrases that have developed into an alternate thought. Nowadays, majority of business organizations use information technology to attain a significant competitive edge over other organizations. This research has shown how GE Global Research Centers are performing innovative tasks to attain competitive edge. They are providing sustainable dynamic source of applications for industrial and business usage. These research centers are sharing the knowledge, research, innovation, imaginations and expertise in several fields. A number of researchers are busy in these effective tasks. The business has established international research centers in the India, United States, Germany and China. These research centers share the knowledge, research, innovation as well as imaginations of more than 2,000 GE researchers as well as thousands of their clients. References General Electric Company. (2012). About Global Research. Retrieved February 18, 2012, from http://ge.geglobalresearch.com/about/ General Electric Company1. (2012). 2010 Annual Report. Retrieved February 19, 2012, from http://www.ge.com/ar2010/growth.html#!story=overview General Electric Company2. (2012). Edisons Desk. Retrieved February 17, 2012, from http://ge.geglobalresearch.com/profiles/vincent-smentkowski/ General Electric Company3. (2012). Meet the Researchers. Retrieved February 18, 2012, from http://ge.geglobalresearch.com/meettheresearchers/genius/2011/4/8 General Electric Company4. (2004). Imagination at work. Retrieved February 19, 2012, from http://www.gewater.com/pdf/Bulletin%201006EN.pdf King, M. (2012). GE Global Research – Mergers & Acquisitions (M&A), Partnerships & Alliances and Investment Report - new company profile published. Retrieved February 20, 2012, from http://www.live-pr.com/en/ge-global-research-mergers-r1049224816.htm Pietersen, W. (2012). Defining Competitive Advantage: How much more value do you deliver than your competitors? Retrieved February 19, 2012, from http://www.europeanbusinessreview.com/?p=2355 Raduan, C. R., Jegak, U., Haslinda, A., & Alimin, I. I. (2009). Management, Strategic Management Theories and the Linkage with Organizational Competitive Advantage from the Resource-Based View. European Journal of Social Sciences, Volume 11 Issue 3, 402-418. Turban, E., Leidner, D., McLean, E., & Wetherbe, J. (2005). Information Technology for Management: Transforming Organizations in the Digital Economy . New York: Wiley. Read More