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GE’S JEFF IMMELT: THE VOYAGE FROM MBA TO CEO
Syndicate 5 (X-47):1. Meilina M (29112120)2. Reza AP (29112127)3. Sufian (29112017)4. Rohimat Efendi
(29112132)5. Martadinata
(29112122)
Writer’s profile
Professor Christopher A. Bartlett ; andResearch associate: Andrew N. McLean
- The original version: GE’s talent machine: the making of a CEO
General Electric (GE) History Founded: 1878 in Menlo Park, New Jersey Founder: Thomas Alva Edison Slogan: “We bring good things to life” The Company was incorporated in 1892 (merged
EELC with Thomson-Houston Electric company) Established an industrial research laboratory in
1900 1930’s – Highly centralized 1950’s – towards decentralization 1960’s Profitless Growth 1970’s Strategic planning systems
GE’s business structure
Commercial Finance Energy Transportation Health Care Infrastructure
Leaders in GE (Succession) Thomas Alva Edison (1892) Charles Coffin (1894) Gerard Swope (1922) Charles Wilson (1940) Ralph Cordiner (1950) Fred Borch (1964) Reginad Jones (1972) Jack Welch (1981) Jeff R. Immelt (2001)
The Succession Planning Process Building on the foundation laid by
Coffin GE’s HR management practices:
Building the talent machine (leadership development)
Session C (Annual leadership & organizational talent Reviews) – by Cordiner
Type 4 managers – by Welch GE’s businesses performance as
proving ground Grooming and testing the potential
leaders
Jeff Immelt (Profile)
Joined GE Plastic in 1982 Various global leadership positions over year
career in GE Become CEO in September 7, 2001 New slogan: Imagination at work Barron’s wie named Mr. Immelt one of the
“world’s best CEOs” Earned a BA degree in applied mathematics
from Darthmouth College in 1978 and an MBA from Harvard university in 1982
Spends 25 days a year on succession planning and cultivating future GE leaders
Immelt’s achievments
Sept 2003 – asks for 5 IB’s per dept. Nov 2003 – selects 34 IB’s
(Innovation Breakthrough) Feb 2004 – Monthly reviews of each
IB begins Sept 2004 – Ecomagination project
begins Jan 2005 – CECOR framework
initiated
Current Trends
Growth as a process: - Technology - Customers - Globalization - Commercial excellence - Innovation - Growth leaders
GE under Immelt
Release of Annual report in March 2002
Redesigning of CEO compensation package
Acquisition with Vivendi Universal’s American assets value at US $ 14 billion
Invested in various research centers Promoted external communications Cultural shift from performance to
customer satisfaction an value
Continued….
External recruitment for senior position
Diversity in work force “people oriented” approach Establishment of a commercial
council “innovative Break-through” program Launch of projects ranging from
creating microjet engines to desalination
Immelt’s Leadership Style
Customer Centric company Focus on innovation Retain managers to make
them specialist Focus on long term strategies Natural leader
Current Trends (cont’d)
Ranked 9th on Fortune magazine’s “50 most desirable MBA employer” list (April 2004)
In 2005 GE launched its “Ecomagination” initiative in an attempt to position itself as a “green” company
In Fortune Magazine’s 2005 “Global most admired Companies” list, GE ranked firs overall (February 2005)
In Fortune Magazine’s 2006 “America’s most admired Companies” list, GE ranked first overall (March 2006)
Revenue as on 31-3-2006: $163.391 billion Net earnings as on 31-3-2006: $20.829 billion No. of employees (2004) – 315,000
The prevailing culture in GE Innovation: a place for creating and
bringing big ideas to life People attributes: vision, passion an
deep sensitivity to the big issues that challenge the world around them
Work environment: an invigorating place to work
Leadership & learning: developing skills and energizing employees
The Denison model: Organizational Culture & Leadership development
Mission Adaptability Involvement Consistency
Successful organizations have strengths across all four traits of the Denison model:
they know where they are going and how they are going to get there
they continually seek to understand the external environment and meet the needs of their customers
they involve and engage their employees and build a sense of shared ownership and teamwork
they have values, systems and processes in place to promote consistent behavior and to execute against the mission
Mission: Vision –shared common desired
of future state bteween organization and employee
Adaptability: Customer Focus – understand
the need of customers Organizational Learning - create
an environment where people can learning through their workplace
Involvement Capability Development –
organization bench strenght improve
Consistency Core Values – leaders reinforce
the values and systems that are basis of organization
Coordination & Integration – employees share common perspective that allow them work effectively
GE Leadership culture
JEFF Imelt’s Leadership style
New York Times 04 December 2010In the wake of the world's financial crisis, GE CEO Jeff Immelt focuses the company on building from its strengths: innovation and manufacturing.
Jeff Immelt Leadership Understand Breadth, Depth, and
Context Leaders learn constantly and
also have to learn how to teach “Like people” attitude
THANK YOU