Ethics in Organizations Term Paper Example | Topics and Well Written Essays - 2500 words

Ethics in Organizations - Term Paper Example Further the high dependence on ethical business behaviour also helps in enhancing the social image of the concern in the external environment. Introduction to the company General Electric (GE) is an established company in the field of services, technology and manufacturing. The company operates in more than 100 countries and has 313,000 employees worldwide. The company owes its origin to the inventions of Thomas A. Edison. Edison established Edison Electric Light Company in the year 1878. It was in the year 1892 that a merger between Edison General Electric Company and Thomson – Houston Electric Company lead way to the birth of General Electric Company. GE has the record of being the only company that is listed in Dow Jones Industrial Index today that was also listed in the original index. GE holds the rank of the 5th largest U.S based company in the fortune 500. The main head quarters of the company is in Connecticut, U.S. the main division of work in GE are, GE Aircraft Engi nes, GE Appliances, GE Industrial Products and Systems, National Broadcasting Company, Inc., General Electric Capital, GE plastics, GE medical Systems, GE power systems, GE technical products and services. GE since its inception has undertaken the strategy of diversification and expansion in a global scale. The company has been successful in establishing itself in various industrial market and countries (General Electric, 2000, p.1). Corporate Vision/Mission The mission statement of GE represents the goals set for all their business units. The mission statement of GE represents the values that are centered on their key believes, Imagine, Build, Solve and lead. These four expressive verbs are chosen by the company to symbolize the stand of GE as a singular entity. For almost more than 125 years GE has been regarded as a company that believes in imagining and brings the imagination into life. GE believes in the power of imagination. The imagination of human brain if focused on the rig ht issues can build up solutions for several problems. The stress given by the management on building solutions for various problems, gives GE the edge and the strength to lead. Corporate Objective/ strategy The main strategy applied by GE in establishing itself as a global player is the two basic strategies: the strategy of diversification and the strategy of global scale operations. GE from the era of its inception has been open to all kind of business markets. The company which owes its origin mostly to electric engineering today has several operations that vary in nature from services to manufacturing. The company has been very adaptive during their growth and has added many operations including Medical equipments and home appliances to enter new market. The company has also applied aggressive strategies to enter the global market. GE has several dealers and showrooms in most countries. The trained sales force of GE give the company an easy entrance in many countries. GE has als o applied the strategy of resourcing their raw materials or parts from suppliers in countries from low wage countries. This Step taken by GE though