General Electric Co. is a technology and
financial services company that develops and manufactures products for four
major purposes. These include:
Generation of electricity
Distribution of electricity
Transmission of electricity
Control and utilization of electricity
GE has created some of the most
underestimated products and has offered services that we take for grant every
day. These products and services
include, but are not limited to:
Consumer financing to media content and
General Electric Company operates through eight different
segments. These segments are power and
water, oil and gas, energy management, aviation, healthcare, appliances and
lighting, renewable energy and transportation (Hannam, 2017). They are analyzed as follows:
Power and Water – This segment generates
the most profit for GE. It utilizes
resources such as oil, wind, gas and water by developing and implementing
systems (Dierking, 2016). This segment
has retail and commercial clients. Commercial
customers purchase mostly turbines and generators, while their retail customers
are more likely to purchase products such as filters, pumps and treatment
systems (Dierking, 2016).
Oil and Gas – This segment helps energy
businesses by providing the equipment necessary for refining, distributing,
extracting and exploring natural resources all over the world (Dierking, 2016). On top of providing energy companies
equipment, this segment also manufactures products such as compressors,
reactors, auxiliary equipment, etc. (Dierking, 2016).
Energy Management – This segment provides
systems and products that help protect, distribute and control energy to things
such as breaker boxes, power panels, etc.
Aviation – This segment is one of the world’s
leading manufacturers of aviation equipment such as jet engines. They also manufacture products related to jet
engines such as bombers, helicopters and tankers (Dierking, 2016).
Healthcare – This segment operates in five
different continents. They provide
technical solutions throughout the healthcare industry (Dierking, 2016). The technology that GE provides can be seen
in products such as MRI, PET and CT scanners, as well as many other medically
operating machines (Dierking, 2016).
Appliances and Lighting – This segment is
the segment that produces your everyday household appliances such as ovens,
refrigerators and microwaves and it is represents only a small percentage of
GE’s profits (Dierking, 2016).
Renewable Energy – This segment is a segment
that is gaining more attention over the years.
GE is starting to focus on adding more of a “green” aspect to their identity
by working on the development of solar energy and wind solutions (Dierking, 2016).
Transportation – This segment is by far the
weakest segment of them all. They produce
high horsepower diesel-electric locomotives that are used in several industries
(Dierking, 2016). These industries include
transit, mining, drilling, etc. (Dierking,
2016). This segment also creates and produces
energy storage and management solutions (Dierking, 2016).