General Electric Company of the United States

General Electric Company was founded in 1892 by the merger of Edison General Electric Company and Thomson Houston Electric Company. The company succeeded in competition by virtue of its financial strength (backed by the Morgan Bank) and research and development capabilities (the company's earliest research laboratories were established in 1900).In the 1920s, GE had joint ventures with Westinghouse, American Telephone and Telegraph, and Radio-Casting Company of America (RCA).In 1956, GE got involved in the In 1956, GE got involved in the computer industry, but sold its computer business to Honeywell in 1970 because it was not profitable. By 1980, the company had revenues of $25 billion from the sale of plastics, residential appliances, nuclear reactors and jet engines. During the 1980s, General Electric's strategy was to retain only those businesses that had the capacity to be among the best in the world market. To do this, the company took a variety of measures, including closing plants, selling assets, and laying off employees.Between 1980 and 1989, the company sold businesses equal to 25 percent of 1980 sales to focus on medical equipment, credit services, and high-performance plastics and ceramics.It bought Staff Reinsurance Company in 1984, merged with Radio Corporation of America in 1986, and bought into Kidde in 1990. Corporation in 1990, and bought into the Kidder Peabody investment banking firm in 1990.GE entered Eastern Europe in 1990, acquiring most of the equity in the Tuslam Lighting Company in Hungary.In 1991, the company purchased the equity in Thorne Lighting Source in the U.K. In 1994 GE's holding company in China, GE China Ltd. was formally established as an investor in GE's operations in the country. . GE is carrying out joint ventures and cooperation with Chinese parties in the business areas of power plants, power generation equipment, household appliances, electric motors, aircraft engine services, and financial services. Business Scope GE is a diversified multinational company. Lighting, transportation tools, power transmission and medical equipment are GE's traditional businesses that continue to this day. The 12 major fields it is involved in are: aero-engine manufacturing, radio and television broadcasting (NBC), power distribution equipment manufacturing, motors and industrial systems, financial services, power systems, information services, lighting engineering, locomotive manufacturing, household appliance manufacturing, medical equipment systems and plastics engineering. Major Products GE's products and services range from small household appliances to aircraft engines, and from personal finance to aircraft financing. The company's main products in the aerospace field include GE90 engines (used in Boeing 777 aircraft), CF6 series engines (used in Airbus A300/A330 and Boeing 767 and 747), international cooperation CFM56 series engines, F414 engines, F110 engines, T700 helicopter engines, and CF34 small commercial engines. Organization GE is a publicly traded company, the Board of Directors is the decision-making body of the company, under the Office of Senior Executive Officers, composed of the Chief Executive Officer, each senior executive vice president, the Chief Financial Officer, the Chief Information Officer, the Manager of Human Resources, the Manager of Business Development, the Manager of Global Research, the Manager of the Department of Consultants and Secretaries, and so on. The three types of business units under the Office of the Chief Executive Officer include: Long-cycle businesses: including the Aircraft Engines Group, Medical Device Systems Group, Power Systems Group, and Transportation Systems Group. Short-cycle businesses: including the Home Appliances Group, the Industrial Systems Group, the National Broadcasting Company (NBC), the Plastics Group, and the Specialty Materials Group. Financial businesses: including Commercial Financial Services, Consumer Financial Services, Equipment Management (primarily finance leasing) and Insurance.