Business in Engineering
Competitive advantage
General Electric Plc.
Abstract
Every company must have to excel in the competitive advantage enjoying over the competitors to become the market leaders (Porter, 1990). The General Electric Company possesses some unique resources that are constantly helping the GEC to become a bigger organization day by day. Without being able to develop a competitive advantage in the market it will definitely be difficult to sustain in the modern competitive business market. Most of the times resources and capabilities belonging to a particular organization creates the scope for enjoying a competitive advantage which has become a prime requirement for the conglomerate to carry on the business activities …show more content…
Every business organization tries to lead the market in the respective industries they are doing business. But all the organizations cannot do because to become market leader it is necessary to have some sort of competitive advantage that facilitates the scope for excellence in business performance (Ferdinand, n.d.).
General Electric Company is such a business conglomerate that enjoys tremendous competitive advantage in the market. General Electric is basically an engineering based company that is engaged in diversified businesses Franklin, 1997). General Electric Company is a more than hundred year old company and gradually it has become a giant business conglomerate in the United Kingdom as well as in the entire world.
General Electric Company enjoys competitive advantage in different areas. Some of the areas are:
Diversification: General Electric Company is engaged in diversified business operations that help to scatter the available resources to the different business plant for ensuring a competitive advantage (Gartner, 1985). As an engineering based company the knowledge and expertise in the technological area can tremendously help the other segments of business to perform superior. General Electric Company has widened its engineering expertise around the world to take the advantage of technical expertise (Ghamari, n.d.). The GEC is engaged in vertical and horizontal integration both inside and outside of the United Kingdom. Through the diversification strategies General …show more content…
are the example of unique product design. Through designing the products at a unique style the GEC electric is getting a competitive advantage (Youngblood, 1998).
Focused Differentiation: By following a focus differentiation strategy GEC is securing a competitive advantage in USA, Canada and some European market. The countries that always hunt for superior quality should be provided with that. And General Electric Company so the same things. It provides a significant competitive advantage.
Focus low cost leadership: General Electric Company also gets a competitive advantage through the focus low cost leadership. By focusing on some narrow segments of business GEC serves the customers better than the competitors do. For example, by providing the electrical equipment at low confortable price it ensures customer
Competitive advantage
General Electric Plc.
Abstract
Every company must have to excel in the competitive advantage enjoying over the competitors to become the market leaders (Porter, 1990). The General Electric Company possesses some unique resources that are constantly helping the GEC to become a bigger organization day by day. Without being able to develop a competitive advantage in the market it will definitely be difficult to sustain in the modern competitive business market. Most of the times resources and capabilities belonging to a particular organization creates the scope for enjoying a competitive advantage which has become a prime requirement for the conglomerate to carry on the business activities …show more content…
Every business organization tries to lead the market in the respective industries they are doing business. But all the organizations cannot do because to become market leader it is necessary to have some sort of competitive advantage that facilitates the scope for excellence in business performance (Ferdinand, n.d.).
General Electric Company is such a business conglomerate that enjoys tremendous competitive advantage in the market. General Electric is basically an engineering based company that is engaged in diversified businesses Franklin, 1997). General Electric Company is a more than hundred year old company and gradually it has become a giant business conglomerate in the United Kingdom as well as in the entire world.
General Electric Company enjoys competitive advantage in different areas. Some of the areas are:
Diversification: General Electric Company is engaged in diversified business operations that help to scatter the available resources to the different business plant for ensuring a competitive advantage (Gartner, 1985). As an engineering based company the knowledge and expertise in the technological area can tremendously help the other segments of business to perform superior. General Electric Company has widened its engineering expertise around the world to take the advantage of technical expertise (Ghamari, n.d.). The GEC is engaged in vertical and horizontal integration both inside and outside of the United Kingdom. Through the diversification strategies General …show more content…
are the example of unique product design. Through designing the products at a unique style the GEC electric is getting a competitive advantage (Youngblood, 1998).
Focused Differentiation: By following a focus differentiation strategy GEC is securing a competitive advantage in USA, Canada and some European market. The countries that always hunt for superior quality should be provided with that. And General Electric Company so the same things. It provides a significant competitive advantage.
Focus low cost leadership: General Electric Company also gets a competitive advantage through the focus low cost leadership. By focusing on some narrow segments of business GEC serves the customers better than the competitors do. For example, by providing the electrical equipment at low confortable price it ensures customer