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Respond to each post separately in 2 or more paragraphs and include references.
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5. In addition to its reputation for being a good partner, what other assets do you think GE brings to the table that makes it an attractive joint-venture partner?
GE (General Electric) used to exist as an organization with a dated philosophy in entering foreign markets because joint ventures were never an option and the company wanted sole acquisition of a market (Hill, 2013). Since the early 2000’s, that philosophy has changed which has opened up the firm to a variety of foreign markets they only could dream of entering. Reasons for opening up for joint ventures for GE were to avoid overpaying in an acquisition, to gain knowledge of unknown foreign markets and to create networks politically and economically (Hill, 2013). Although there have been a few mishaps along the way such as the survival of a stock crash in 2009 (Marcial, 2012) and other stock market issues, GE has been able to create substantial market value that has caused it to become an attractive joint venture for many potential and current partners.
Investment firm analyst Ben Elias has stated that “GE is now better positioned for growth and profitability than it has been in the last four years” and that the energy, industrial and transportation units of the firm is well built and positioned efficiently (Marcial, 2012. p.1). GE earnings in 2012 alone have accelerated greatly and have created positive sustainable trends in their aviation, healthcare and transportation units (Marcial, 2012). GE’s profit forecast in 2012 estimated about $152 billion in shares whose stock offers a potential three to five year total return. Compared to other US companies, GE offers attractive value with stock trading below the essential value of its assets (Marcial, 2012).
When GE set out to open up joint ventures, one of its missions was to gain more knowledge and it is because of the extensive know how and knowledge of local markets, potential partners knew they could also benefit from this knowledge through a partnership. GE uses management techniques shown its portfolio that explains the company infrastructure through four strategic imperatives: (1) superior technology (2) enhancing customer services and analytics (3) leading in growth markets (4) simple and competitive cost structure (Zhang, 2012). GE also has five leading qualities that drive its company to success through
1. Becoming an Infrastructure leader with a smaller financial services division—GE is currently the largest and most profitable infrastructure company in the world (Zhang, 2012).
2. GE has a commitment in allocating capital through balance and discipline (Zhang, 2012).
3. GE has increased investments in organic growth with a focus in global expansion
4. GE has built great customer relationships based on an outcomes oriented model.
5. GE has been positioned in big productivity drivers such as gas, advanced manufacturing, and software and analytics.
Partners and potential partners are well aware of GE’s knowledge, profit margins and extreme areas of growth which has garnered GE attention worldwide as a leading organization in the global market.
Hill, C.W. (2013) International Business; Competing in the Global Marketplace. 9th ed. New York, NY: McGraw-Hill Irwin.
Marcial, G. (2012) GE Catches Renewed Investor Attention As US Economy Picks Up More Steam. Retrieved from http://www.forbes.com/sites/genemarcial/2012/02/04/ge-catches-renewed-investor-attention-as-u-s-economy-picks-up-more-steam/
Zhang, T. (2012) GE 2012 Annual Report. Retrieved from http://www.ge.com/ar2012/#!report=home
Include in your post personal observations as well as concrete examples from the readings to support your views.
Initial posts should be several paragraphs, include direct references to the readings, and word choice and sentence
structure should be suitable for graduate level work. Responses to your classmates should be constructive in
Choosing a joint venture as the approach to entering a new global market is preferred as it can allow companies to utilize one another’s strengths to compensate for areas of weakness. Even though a joint venture does require giving up partial control of the business practices, having a local partner increases the chance of successful implementation into the market due to the local knowledge readily available within the company (Hill, 2013). However, a joint venture can only be profitable if the two companies have a solid relationship upon which each partner has trust in the partner as well as faith the partner is working towards the agreed upon goals and standards of operations. In the GE scenario, the company has a reputation for being reliable and trustworthy; however, partnerships are not formulated purely off of ability to trust. The joint venture must also be capable of providing each partner a strategic business advantage that compensates for some weakness within the company. GE, for example, has a wealth of technology and assets that are very appealing to prospective partners, because such capabilities can be wielded to progress the company in ways that could not have been accomplished independently.
Proof that GE’s infrastructural assets and technological capabilities contribute to the company’s appeal for developing foreign joint venture partners lies in its established venture with China’s Shenhua Group in 2011. With large coal deposits available in China, Shenhua, a large coal-producing company, joined with GE to work towards the development of integrated gasification combined cycle facilities as part of an initiative between the United States and Chinese government for the US-China Clean Energy Cooperation (“GE and Shenhua Form”, 2011). With Shenhua’s specialty and availability to coal and GE’s technological capabilities, the companies formed to utilize each other’s unique skills to develop a project that alone, would not be as successful.
GE and Shenhua form coal gasification joint venture. (2011). TCE: The Chemical Engineer, (837), 14.
Hill, C. (2013). International business: Competing in the global marketplace. (9th ed.). New York, NY: Irwin/McGraw-Hill.
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