![]() ![]() GE international manufacturing plants have been set up in a range of countries, but the focus has been made mainly on Mexico, China and India. The nature of these changes and pros and cons associated with them are discussed further below in a more detailed way.Ģ.1 Outsourcing of Manufacturing Plants to Developing Countries The specific impacts of globalisation on GE policy changes involve outsourcing of manufacturing plants to developing countries, the shift of research and development centres overseas, the shift of various divisions of company head offices overseas, concentration to local workforce in GE overseas operations, and increased focus on exports. Financial Time’s Crooks (2012) recites the following words from Immelt: “When I became CEO we were 70 per cent inside the US industrially. ![]() GE has attempted to take full advantage of possibilities provided by globalisation by formulating relevant policies mainly during the last decade under the leadership of its CEO Jeff Immelt. The report addresses GE policy changes impacted by globalisation in an individual manner by referring to other relevant publications, and changes proposed for GE in the report have been justified in a detailed manner. This report evaluates the impact that globalisation has had on the policies of GE and specifies changes needed to be implemented taking into account the recent economic crisis in the USA and the global financial recession. Moreover, 13,000 jobs were created by GE in US during 2011, and international sales of American-made products by GE had amounted to $18 billion during that year (GE Annual Report, 2011). GE has achieved an international growth of 18% during 2011 which has contributed to company consolidated revenues of $147 billions during the same period of time. ![]() General Electric Company (GE) is a globally diversified technology and financial services company and its products and services include aircraft engines, power generation, water processing, and household appliances to medical imaging, business and consumer financing and industrial products (General Electric Co, Bloomberg, 2013). As a result of globalisation businesses have been presented with a range of opportunities to contribute to the level of their revenues and these opportunities primarily include outsourcing various business processes abroad and exporting products to other countries. Increasing forces of globalisation have altered the terms and nature of conducting business considerably and irreversibly. ![]()
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