Thomas Alva Edison founded the “Edison General Electric Company” in 1890 and later in 1892 merged it with Charles Coffin’s “The Thomson-Houston Company” to form the famous General Electric (GE). The word General Electric (GE) is a “mantra” in the business world. Standing by its reputed name, this American multinational conglomerate has its arms spread across different sectors like Energy, Consumer capital finance, Industrial finance, Medical equipment’s, Transportation, and Technology Infrastructure. It’s based at its headquarters in Fairfield, Connecticut, USA. The brand ‘GE’ is well known as one of the leading and most powerful business firms across the globe. Fortune 500, has listed GE as the 26th Largest Business Organization. GE with its well-known business operation and customer satisfaction is among the top rankers in its markets.
“GE’s leaders through the years have built a diverse portfolio of leading businesses; a stream of powerful company-wide initiatives that drives growth and reduces cost; financial strength and Controllership that allow it to capitalize on opportunities through numerous cycles; and a set of common values that allows it to face any environment with confidence.” (Thomas Edison ; The History of Electricity, n.d.)
Our paper focusses on the external and internal factors that have influenced the (competitive) actions and responses that led this 125 year old iconic American business to suffer and crash under the decades (1981-2017) of bad leadership of two CEO’s Jack Welsh and Jeff Immelt. (Leadership-Past-Leaders, n.d.)