Business and Finance solutions

When Jeff Immelt became GE’s chairman and CEO in 2001, the organization already had a robust tool kit
in place to tackle business problems. Most of its key initiatives have focused on enhancing productivity.

>> Best Practices Sharing: identifies particularly effective approaches and spreads them across GE’s businesses
>> Change Acceleration Process: equips leaders with a proven method of managing change and prepares them to succeed as change agents
>> Crotonville Customer Programs: deploy the resources of GE’s renowned internal training facility for the benefit of customers
>> Multigenerational Product Development Plan: ensures that new products are not simply optimized for the near term but have the ability to evolve with
customer needs
>> Process Mapping: creates visual representations of business processes to facilitate understanding and simplification
>> Quick Market Intelligence: builds on Wal-Mart’s innovation of tapping into real-time data about customer and competitor behavior and disseminating that insight rapidly throughout the organization
>> Simplification: drives out extraneous costs incurred by overcomplicated processes and proliferation of options in sourcing and other areas
>> Six Sigma: employs Motorola-pioneered methods to bring defect levels below 3.4 defects per million opportunities. Intensive quality training yields
“green belts,”“black belts,” and “master black belts.”
>> Work-Out: uses cross-functional teams and town hall meetings to find ways to take unproductive work out of the system, like meetings, reports, and approval
levels that add no value