Question

What are the major competitive issues General Electric faces when managing cooperative strategies?

Answer 1

Answer:- General Electric Company (GE) has a generic strategy for competitive advantage that, along with intensive growth strategies, ensures the conglomerate’s growth in global markets. Michael Porter’s generic strategies are used to develop and maintain firms’ competitive advantage.

In this case, GE uses its generic strategy for competitive advantage in the energy, oil and gas, aerospace/aviation, transportation, healthcare, and electric lighting industries. On the other hand, a company’s intensive growth strategies are employed to support and sustain business growth.

For example, General Electric relies on diversification as a major growth factor through the years. The combination of intensive strategies used in GE’s business facilitates continued growth despite changing economic conditions and competitive challenges, considering competitors like 3M and Siemens. These strategies boost the company’s resilience as one of the biggest diversified businesses in the world. Nonetheless, for long-term growth and competitiveness in its industries, General Electric’s intensive strategies and generic competitive strategy must remain relevant to industry situations.