Troy Pounds MAN 6724 Final 1) True 2) True 3) True 4) True 5) A or B 6) True 7) True 8) True 9) a) GE’s access to large amounts of capital enables them to conduct research and Development that other smaller firms could never attempt. It has also enabled them to grow and provide business services to the majority of the planet. If GE didn’t have their financial recourses they would need to grow organically like most of their competitors. b) By investing in their managers, GE assures those leaders go forward to provide the most benefit to company as a whole.
It is a mini virtuous cycle: 1. GE makes great leaders 2. Great leaders make happy and productive employees 3. Happy and productive employees ensure exceptional performance of GE, and GE makes more great leaders. c) The members of the high profile advisory board are leaders in their specific fields and as leaders are able to influence others within those fields to ensure they use GE products. If for reason the others in those fields do not want to use GE products, the members of the advisory board can find why and relate the reasons to GE to potentially improve GE’s products, services or marketing. 10) There are many ways this can be accomplished, some include:
– By simplifying the design of new products (reverse innovation) GE can use technology the has already been developed to make new products (ie using a laptop to power a medical device – By making healthcare systems more user friendly. This will lead to less errors by medical professionals (ie better customer satisfaction and system professionals aren’t afraid to use) 11) a) As I stated in #10 this is a great thing for GE. As technology that can used in their products is created by other firms, GE can capitalize on the new tech to reduce its own costs.
This will mainly affect value appropriation because failing to capitalize on tech advancement will leave GE vulnerable to competitors who do. b) This seems to be a pillar of GE healthcare’s success in value creation. By continually improving imagery systems GE is able to stay ahead of competition. c) 12) True 13) True 14) An example of how GE could create synergy is to use their own products and services to reduce operating expenses.
Two ways this can be completed is by: 1) using its green energy solutions at all of their operating facilities to reduce electric expenses, and to promote the energy brand, 2) Create GE medical suites at their large facilities. This is being done by Wal-Mart, to give quick and inexpensive medical care to employees. An additional benefit is that the medical solutions software can complete long-term wellness tracking stats to add to GEs existing movement to increase employee wellness. 15) As quoted in Part A GE will ” Invest $6 billion to continuously develop and move forward innovations that deliver high-quality, more affordable healthcare to more people around the world. ”
Like nearly all tech advancements, as GE produces new and better equipment designed with the intent of improving access, they will able to drive down production costs and provide their goods to the people of developing counties. An example of this is the proliferation of computers, as they have become more advanced, firms have learned how to make them fast and cheaper and then passed those saving on to the consumers in order to stay competitive.