GEs Imagination Breakthroughs: The Evo Project Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

Reasons For Changing Existing Successful strategy

There are many reasons that forced GE to change its ongoing strategy that is quite successful. Some of the reasons are quite prominent that can be attributed as armor for the defense of the new strategy. The business environment around the globe is becoming customer centric and is witnessing quite rapid changes that is why the business are changing gears to cope up with these ongoing changes in the business environment.

GE is also a global company that needs to stay in the competition with a competitive landscape therefore, it has to adapt these changes. This changing landscape is one of the major reason towards the change in strategy and since priorities are also changing, hence, GE also wants to change their priorities as well. These were the major reasons towards the change in strategies and a brave move to eradicate the strategy that has been quite successful for the company.

On the other hand, as the businesses are focusing more on customer preferences and requirement therefore, GE also wants to follow the lead to become centric. The change in strategy is because the previous strategy did not allow or had any room to become customer centric. Furthermore, the size of the company and the ability to diversify were some of the major strengths of the company that Immelt wanted to use in favor of the company.

These strengths were the major advantage for investing in areas where the company can gain a competitive or first mover advantage and create opportunities that will be hard to imitate by the competition. These opportunities will eventually drive future growth of the company and will make the company a global leader in the industry.

On the basis of technological leadership, commercial excellence and global expansion the company wanted to search new markets and new business opportunities using different and innovative platforms that can help the company to gain market leadership.

Underlying the Economic Growth Rate

The business can achieve the objective of underlying business growth rate by expanding the boundaries and serving each market, according to the preferences and needs of the consumers. The objective can be achieved through further measures that present opportunities for the company to grab. One of the major opportunity is by exploring and serving untapped markets that will present less competition and on the other hand, first mover advantage as well.

Furthermore, the company can move ahead in the Ansoff Matrix and enter into new product development for the current markets as well as for the new markets. Giving strength to the product line by adding more products or brands will give the company an opportunity to compete in the market on a broad scale. More opportunities for revenue generation will appear with this move, and new product development is also important as the company wants to become customer centric therefore, in order to serve the new needs new products will be made necessary.

New product development involves new technologies and innovation, which is important as the business environment is changing and adopting new technologies. Innovation in products will lead to gain first mover advantage in many markets as the company can identify needs that are yet to be served by any company in the industry. The company will be more focused with this change and will carry a more realistic approach since the market trends suggests that the consumers have many powers at their end that pose threats to companies in any industry.

On the other hand, a very important thing for the company is to move ahead with only those products that can give strength to the company’s brand portfolio and enable the company to achieve the desired goals.

Answer 2:

Right Drivers For Growth

The drivers chosen by Immelts are unique, but globally viable and can help him achieve the objective of expansion of business and consumer base through global expansion. Using aspects like technological leadership, and commercial excellence is vital as the company will witness immense opportunities for growth in the future.

The idea to use the strengths of the company like diversification and size as the key elements for attracting investments in markets that present ample opportunities and developing capabilities that give the company sources of competitive advantage is commendable. The new strategy of Immelt will help the company to identify new and impressive opportunities for the business using the imaginative IB’s and gaining strength in the global market...........................................

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