GE's business portfolios include aviation, capital, digital, health care, power, and renewable energy. Its solutions can be found in 45,000 onshore wind turbines and more than 64,000 military and commercial aircraft, as well as in a million healthcare installations and 77,000 gas turbines. Under Jack Welch, GE expanded by buying companies and shedding ones it no longer needed. In 1986 GE reacquired the RCA Corporation, which included the NBC television network.
GE's healthcare business uses its products, services and digital capabilities to help build an intelligence-based healthcare system. General Electric makes c-arms, and its healthcare technology allows the delivery of a healthier world and greater access for half of the world's population that does not have adequate healthcare.
Even though GE's businesses vary widely in size, revenue and profit, its employees are all rewarded with a robust benefits package. GE offers its employee's health, dental and vision insurance, group life and long-term disability insurance. The company also provides education savings programs and a retirement plan.
General Electric also allows its employees to work flexible schedules. GE employees can successfully manage their personal and professional life because of this freedom. In addition, GE has a liberal approach to paid time off, which means that employees can coordinate with their managers to take the number of vacation days they want. GE also offers employees paid parental leave.
Electrical and Electronics
In the field of electrical and electronic products, General Electric (GE) is one of the most diversified companies in the world. Thomas Edison created the business in 1892, expanding through mergers and acquisitions. Its industrial research laboratories were among the first of their kind.
During World War II, GE made significant contributions to military technology, including the cavity magnetron for radar. The company developed gas-filled light bulbs that reduced bulb blackening and invented the Coolidge tube, the first high-vacuum, hot-cathode X-ray tube.
Today, GE's business portfolio includes solutions for gas power, wind power, energy grids, hydro, storage, hybrid renewables, digital services, and software.
Its business portfolio is designed to help customers navigate the energy transition with a combination of hardware and software that can grow renewables, lower the cost of electricity, and make the grid more resilient. The company also offers aviation products and systems. Its aerospace division designs and produces commercial and military aircraft engines.
GE continues to innovate in the energy solutions field. For example, its wind turbines are helping to expand renewable power sources worldwide. In addition, the company is committed to sustainability initiatives, including carbon neutrality by 2030 and net zero emissions by 2050.
It has also made strides in improving efficiency and developing innovative new products for solar energy. Some of GE's most notable inventions during this time include the automatic pilot for jet aircraft, Lexan polycarbonate resin, and jet turbine engines used to produce electrical power. However, antitrust problems continued to plague the company.
In 1961 a Justice Department investigation resulted in the company pleading guilty to price fixing on electrical equipment and paying utilities damages of more than $50 million. During this period, GE began to develop environmentally friendly technologies, such as Ecomagination, an initiative that produced 70 green products by 2008. During this time, the company also introduced six sigma, a quality control initiative.
GE Aviation, headquartered in Evendale, Ohio (a Cincinnati suburb), designs, produces and services commercial aircraft engines. Its engine technology advances have allowed airlines to fly farther, faster and with less fuel. GE's aviation division also has a growing presence in the military market—their military aviation engines power fighters, bombers, tankers, helicopters and surveillance aircraft.
In addition to its storied history of engineering innovations, GE is now focused on sustainability. The company plans to become carbon-neutral in its operations by 2030. In 2021, GE committed to reduce Scope 3 emissions from the use of its sold products by the same date.
GE's current leadership has been a major force behind the company's restructuring efforts.