Innovation Report for General Electric

Topic

Innovation Report for General Electric

Instructions

Conduct an in-depth evaluation (using publicly available information) of the organization General Electric and prepare a 2500 word Innovation Report.

Structure 

  1. Introduction
  2. The business case for innovation
    1. Provide justification for prioritizing innovation in the organization.
  3. Leadership challenges
    1. What are the main leadership challenges facing the organization? What can be done to overcome them?
    2. Use theoretical frameworks from the module content to write this section.
  4. Innovation challenges
    1. What are the main challenges the organization is facing in relation to innovation? What needs to change?
    2. Use theoretical frameworks from the module content to write this section.
  5. A framework for innovation
    1. What are the organizational priorities in relation to leadership and innovation? Provide your recommendations to address the organizational challenges you identified in the sections above.
  6. References
  7. Appendices (Optional)

Guidelines:

  1. All ideas/strategies must be analyzed.
  2. Identify the conditions under which the particular idea/initiative/strategy has been effective and ineffective (e.g. type of organization, size of organization, country, organizational communication etc.). This will help you make the inference as to whether the idea will work in your organization or not, and also to make recommendations about what should be done to make its implementation effective.
  3. While reading journal articles, also pay attention to other effective ideas that are mentioned there that are not part of the list given to you. You may be able to include them in your recommendations.
  4. All the arguments that you make must be supported by academic theory.

Use a minimum of 18 references (Harvard style).

Answer preview

General Electric is US-based multinational firm based in Boston, MA. The firm operates through over 13 segments, including aviation, energy connections, healthcare, global research, digital technologies, lighting and power, and conventional and renewable energy (General Electric, 2018a). In 2011, GE was named as the 14th most profitable firm among the Fortune 500, while in 2012 it was named the fourth largest firm globally, in the Forbes Global 2000. Most recently in 2017, GE was ranked 13th biggest company in the US in terms of gross revenue. This success is attributable to, among other factors, the firm’s innovative history (Ringel et al., 2018). This report identifies the business case for innovation for GE, examine the pertinent leadership and innovation challenges, and recommends an innovation framework to guide innovation in the company.

Word count: 2969