This is the report based on the General electric company. You do not need to include any introduction or conclusion. It should just include 2 subheadings, 1. the main challenges faced by GE in general, 2. the recommendation on those challenges. Under the first subheadings, you should talk about external and internal factors that cause that challenge.human resource
QUESTION
This is the report based on the General electric company. You do not need to include any introduction or conclusion. It should just include 2 subheadings, 1. the main challenges faced by GE in general, 2. the recommendation on those challenges. Under the first subheadings, you should talk about external and internal factors that cause that challenge. The challenge has to be focusing on only ONE but has to be specific. To address this question, you will have to carry out additional research to better understand GE and its industry CURRENT context and provide your analysis on the main challenge with the performance review at GE. Under second subheadings, the recommendation has to be no more than 2. Please make sure to use 3 academic sources abd 5 sources that relates to the current industry context of GE. Please also include the figure or table that relates with the report.
ANSWER
Challenges Faced by General Electric Company and Recommendations
Main Challenges Faced by General Electric (GE)
1.1 External Factors
1.2 Internal Factors
External Factors
General Electric operates in a dynamic and competitive global marketplace, facing various external challenges that impact its performance. One significant challenge for GE is the rapid technological advancements and disruptions in its industry. The digital transformation and emergence of Industry 4.0 have disrupted traditional manufacturing processes and created new opportunities and threats.
External Challenge: Industry Disruption and Technological Advancements
The increasing demand for renewable energy solutions, the rise of automation and artificial intelligence (AI), and the growing influence of data analytics have reshaped the energy and industrial sectors. This presents both opportunities and challenges for GE, as the company has historically relied on traditional power generation technologies.
The shift towards renewable energy sources, such as wind and solar, poses a challenge to GE’s traditional gas turbine business. As the demand for renewable energy solutions increases, GE must adapt its product offerings and expand its capabilities to remain competitive in this evolving market.
Furthermore, the integration of AI and data analytics in industrial processes offers the potential for increased efficiency and productivity (Pham et al., 2020). However, GE must navigate the complexities of implementing these technologies while ensuring data security, privacy, and regulatory compliance.
Internal Factors
In addition to external challenges, General Electric faces internal factors that have contributed to its performance issues in recent years. One key challenge for the company has been its complex organizational structure and the need for strategic focus.
Internal Challenge: Organizational Complexity and Strategic Focus
Over the years, GE has evolved into a conglomerate with diverse business units spanning multiple industries (Edwards, 2014a). This complexity has made it difficult for the company to maintain a clear strategic direction and effectively allocate resources.
GE’s organizational complexity has hindered decision-making and agility, preventing the company from adapting quickly to market changes. This has resulted in inefficiencies and slower innovation compared to more streamlined competitors.
Furthermore, GE’s strategic focus has been a challenge as the company has faced difficulties in identifying and investing in high-growth areas. The need to balance investments across diverse business units has made it challenging for GE to prioritize and allocate resources effectively.
Recommendations
Based on the identified challenges, the following recommendations are proposed to address the key issues faced by General Electric:
Embrace Renewable Energy Transition
To overcome the challenge of industry disruption and technological advancements, GE should invest in research and development to enhance its capabilities in renewable energy solutions. By leveraging its existing expertise in power generation, GE can develop innovative products and services that cater to the increasing demand for sustainable energy options (Digital Services Platform Achieves 99.9% Data Availability on AWS | GE Renewable Energy Case Study | AWS, n.d.). Additionally, strategic partnerships and collaborations with renewable energy companies can help GE gain access to new technologies and markets.
Streamline Organizational Structure and Strategic Focus
To tackle the challenge of organizational complexity and strategic focus, GE should consider streamlining its organizational structure. This involves divesting non-core businesses and focusing on key areas where the company has a competitive advantage. By simplifying its portfolio, GE can improve decision-making processes, enhance operational efficiency, and allocate resources more effectively. This will enable the company to pursue growth opportunities with a clear strategic direction and generate sustainable long-term value.
Overall, by addressing the external challenges related to industry disruption and technological advancements, and by streamlining its organizational structure and strategic focus, General Electric can position itself for long-term success in a rapidly evolving market.
References
Digital services platform achieves 99.9% data availability on AWS | GE Renewable Energy Case Study | AWS. (n.d.). Amazon Web Services, Inc. https://aws.amazon.com/solutions/case-studies/ge-renewable-energy/
Edwards, J. (2014a, September 12). Creating an organizational structure. Pressbooks. https://opentextbc.ca/strategicmanagement/chapter/creating-an-organizational-structure/
Pham, Q., Nguyen, D. H., Huynh-The, T., Hwang, W., & Pathirana, P. N. (2020). Artificial intelligence (AI) and big data for coronavirus (COVID-19) pandemic: A survey on the state-of-the-arts. IEEE Access, 8, 130820–130839. https://doi.org/10.1109/access.2020.3009328

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