GE Appliances in 2021

Annika Steiber ()
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Annika Steiber: Menlo College

Chapter 10 in Leadership for a Digital World, 2022, pp 81-87 from Springer

Abstract: Abstract GEA had experienced stagnant growth and loss of market share while adhering to GE’s company culture and business strategy. After the sale, Haier’s RenDanHeYi philosophy was introduced to GEA, and a new CEO emerged in the top post at GEA. Senior leaders interviewed in 2021 described dramatic changes at GEA during that time. The strategic goals changed from “doing no harm” and increasing short-term profits through cost-efficiency, to becoming number one in the North American market. GEA began hiring people to expand the company’s competencies in new fields like the Internet of Things, rather than choosing General Electric veterans with known technical skills. The cultural emphasis changed from a focus on becoming leaner, to a future-oriented focus on sustained growth. Moreover, a bureaucratic top-down structure was replaced with the creation of microenterprises and platforms having more distributed powers and authority. Much greater emphasis was placed on understanding and serving the end users. Innovation initiatives proliferated, and GEA began to see positive results from these changes.

Keywords: GE appliances; General electric; Haier; RenDanHeYi; Cultural change; Organizational structural change; Microenterprises; Platforms; Innovation; Growth; Entrepreneurship; Leading goal; Customer-centric (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:mgmchp:978-3-030-95754-4_10

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DOI: 10.1007/978-3-030-95754-4_10

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