- GE’s main businesses are around the sectors of commercial finance, infrastructure, energy, healthcare and transportation. Healthymagination is an initiative by Jeffery Immelt, the current CEO of GE conglomeration. Innovation and entrepreneurial spirit among managers are the key values that govern the GE culture in the age of healthymagination. Jack Welch had promoted an organizational culture that focused on lean management and productivity, but Immelt is focusing on quick problem solving and entrepreneurial initiatives. “Imagination at work’ is the favorite punch line used by Immelt to drive the business.
As per the culture carved by Immelt, the company looks forward to employees who support GE as a “We Company,” not a mere “Me Company.” Team work, leadership and collective innovation are expected from the managers to meet the challenges of the market, especially in the healthcare segment. Another important aspect of the present culture is to mold young leaders i.e. to make them run the business with a dedicated team. GE has in place a schedule of training programs that shape the leaders needed for the projected business. The organizational structure is based on the GE’s business focus. The chairman and CEO of the GE conglomerate is Immelt, who is supported by respective CEOs of the business segments. Values are the elements that keep an organization integrated, and Immelt drives the whole GE enterprise by uniform value system across all segments, which makes the organizational structure suit the culture.
- Planning business with a mission to provide affordable healthcare solution to the customers is very pertinent in the current economic scenario. But, depending on the legislation such as Affordable Care Act is highly risky, because the government can change its plan anytime. Bringing down the cost of diagnostics, life support systems, etc. requires extreme innovation. Not only the R & D needs to be innovative, the complete organization must work in tandem to achieve the speed of growth proposed by Immelt. The whole organization must develop innovative products, services, processes and technology. The major obstacles are Can everybody in GE work innovatively? And what needs to done to make every team an enterprising one? The answers are sparse for such challenges.
- The focus on green aspects of technology and products will keep the goodwill of GE upbeat among customers. Business-wins in the market are the most invigorating element of the organization. Hence, Immelt must lead the managers to think rather ‘imagine’ for the customers, and launch products and services that will improve the health care outcomes at affordable costs. Building a creative organization requires appropriate leadership, team building and communicative processes, and the CEO must sharpen the value system the company is following since the age of Thomas Alva Edison.