G.E. Becomes a General Store for Developing Countries, by Claudia H. Deutsch
Monday, July 18, 2005
For the first time, G.E. has rolled aircraft engines, rail products, water, energy, oil and gas equipment, and even some finance units, into one all-encompassing collection of businesses, aimed at helping developing countries come of age.
“One of the biggest reasons behind creating the infrastructure unit is to offer one-stop shopping to developing countries,” Mr. Calhoun said.
In fact, revving up sales in emerging countries has become the overarching goal behind many of the seemingly unconnected changes that Mr. Immelt has made at G.E. lately.
The legacy of John F. Welch Jr., his celebrated predecessor, was to turn G.E. into a hugely profitable company that sold products and services primarily to companies in the United States and Europe.
Mr. Immelt, just four years into his job, is already shaping a company that may become best known for selling products and expertise to a whole new set of customers: the governments in the developing world, and the businesses they run.
Story found here.
Source: The New York Times