What is the General Electric Company?

The General Electric Company (GE) is one of the world’s largest and most well-known multinational conglomerate corporations. Founded in 1892 by Thomas Alva Edison, GE has since expanded its operations to include a diverse range of businesses, including aviation, energy, healthcare, and consumer products.

The company is headquartered in Fairfield, Connecticut, USA, and operates in over 160 countries around the world. As of 2021, GE employs more than 380,000 people and generates annual revenues in excess of $145 billion.

GE’s history is marked by a long series of innovations and breakthroughs that have helped shape the modern world. From Thomas Edison’s invention of the practical incandescent light bulb to GE’s pioneering work on jet engine technology, the company has consistently pushed the boundaries of what is possible and driven progress in numerous fields.

In this article, we will explore the history, mission, and operations of General Electric Company. We will also take a closer look at some of the company’s key businesses and initiatives and examine how they are helping to shape the future of various industries.

History of GE

The roots of GE can be traced back to 1879, when Thomas Edison formed the Edison Illuminating Company of New Jersey to distribute his new invention, the incandescent light bulb. In 1882, the company went public and became known as the General Electric Company, reflecting its growing scope of operations beyond just lighting.

Over the years, GE has continued to expand its business and acquire new companies, forming a diverse portfolio of businesses that operate in a wide range of industries. Some of the notable acquisitions include:

• In 1903, GE acquired the Westinghouse Electric Corporation, which helped the company establish itself as a major player in the electrical equipment industry.
• In 1986, GE acquired RCA Corporation, adding to its portfolio of consumer products and media businesses.
• In 2008, GE acquired Alstom, a French railroad equipment manufacturer, expanding its presence in the transportation sector.

Mission and Operations of GE

GE’s mission is to drive progress and improve the lives of people around the world through innovation, technology, and sustainability. The company operates through five key businesses: Aviation, Energy, Healthcare, Power & Water, and Consumer Products.

Aviation

GE’s aviation business provides design, manufacturing, and service solutions for commercial and military aircraft. GE’s aviation division is a leader in the development of advanced engine technologies, including the Leap engine, which powers many of the world’s most modern aircraft.

Energy

The Energy business focuses on providing energy products and services that help customers reduce their carbon footprint and improve their operational efficiency. GE’s energy division is a global leader in renewable energy solutions, with a particular focus on wind and solar power.

Healthcare

The Healthcare business develops medical technologies and devices that help healthcare providers diagnose, treat, and manage diseases. GE’s healthcare division includes a wide range of products and services, including diagnostic imaging equipment, patient monitoring systems, and medical devices.

Power & Water

The Power & Water business provides solutions for the efficient management of power generation, transmission, and distribution. GE’s power & water division is a leader in the development of advanced power generation technologies, including gas turbines and hydroelectric generators.

Consumer Products

Finally, the Consumer Products business develops and markets a wide range of products, from home appliances to lighting and entertainment systems. GE’s consumer products division includes several well-known brands, such as GE Appliances and GE Lighting.

Key Businesses and Initiatives

GE has several key businesses and initiatives that are helping to shape the future of various industries. Here are a few examples:

• Aviation: As mentioned earlier, GE’s aviation business is a leader in the development of advanced engine technologies, including the Leap engine. The Leap engine is designed to be more fuel-efficient and environmentally friendly than traditional aircraft engines, helping to reduce emissions and support sustainable aviation.
• Energy: GE’s energy business is committed to providing innovative solutions that help customers reduce their carbon footprint and improve their operational efficiency. One of the company’s key initiatives in this area is its focus on renewable energy solutions, including wind and solar power.