International Business General Electric (Nyse:ge)

International Business

General Electric (NYSE:GE) operates in 120 nations and operates as a diversified corporation with divisions active in aircraft engines, household appliances, power generation, water processing, medical imaging, in addition to a significant business in consumer financing and media content. GE is also a market leader in industrial products, and operates on every continent. As of the close of their latest fiscal year, the company had earned $157B in revenue and $10B in Net Income.

Analysis of Market Systems, Stakeholders and Corporate Social Responsibility Programs

operates a wide spectrum of market and legal systems, encompassing common and canon law, in addition to many forms of taxation and trading compliance they need to stay continually attuned to. The market systems that GE competes in require intensive levels of analysis by region and nation to stay current with the many laws and compliance requirements of selling into each country. An example of this are the very high level of requirements for ergonomics and the development of human factors-based products., the design of medical imaging equipment in these markets where ergonomics and human factors engineering so prevalent requires entirely different product planning and production processes over time (Alwerfalli, Schaaf, 2010).

The composition of stakeholder groups and their concerns vary significantly across each geography that G.E. competes in as well. For European nations including France where the requirement exists for a French national to be on the local subsidiary board, or India, where there must be two or more Indian nationals on any subsidiary board of directors, the planning of organizational structures in each of these regions is critical for the success of the business. G.E. relies heavily on strategic planning processes that provide for greater levels of collaboration and insight from stakeholders than many other multinational corporations, to ensure their subsidiaries stay aligned to local and regional requirements (Ferrari, 2010). Stakeholder management is also defined through a series of escalation processes to ensure that GE senior management at the subsidiary, regional and global levels stay consistent with each other from a policy standpoint as well. GE relies on cross-functional teams within their strategy planning process that also enables greater stakeholder communication as well (Thomas, Bollapragada, 2010).