Disaster Medicine And Health Preparedness -Myassignmenthelp.Com

Question: Discuss About The Disaster Medicine And Health Preparedness? Answer: Introduction GE or General Electric is the most popular multinational corporation of America that has its headquarters in Boston, Massachusetts. The incorporation of this particular conglomerate corporation is in New York (Ge.com. 2018). The operating has various segments that include Energy Connections, Power, Global Research, Aviation, Transportation, Current, Renewable Energy, Oil and Gas, Healthcare, Capital and Lighting. All the above mentioned segments of General Electric serves the requirements of Pharmaceutical, Services of finance, Software Development, Medical devices, Engineering industries, Life Sciences and Automotive industries (Ge.com. 2018). In the year 2017, the organization of General Electric was ranked thirteenth in the list of the largest firms of America in terms of gross revenue. The following report outlines a brief description on the case study of General Electric. The report discusses and also analyses on the several major capabilities and competencies of this particular organization (Gamondi, Larkin and Payne 2013). These core competencies would be extremely important for General Electric. These capabilities and competencies would be discussed on the success story of the organization until the year of 2012. Moreover, the various strategic options of General Electric in the next five years will also be mentioned here (Espinoza and Ukleja 2016). The final part of the report explains about the management approach between the previous and the current Chief Executive Officers of this organization and helps to choose the best alternative that is to followed by General Electric for the betterment of the organization. GE Core Competencies and Capabilities The core competencies of an organization can be defined as the specific concepts in management that has a unique combination of several skills and resources for distinguishing the position of a firm in market (Walsh et al. 2012). The core competencies of any organization help to obtain competitive advantages. There are three distinct criteria for the fulfilment of core competencies. They are as follows: i) The core competencies help to provide proper potential access to the broad range of markets (Calzada, Prado and Marzal 2013). ii) The core competencies always make the most important contribution to all the advantages of a product. iii) The third criterion for the core competencies is the difficulty in imitating by all the competitors. The core competencies help to deliver added values to the specific clients. These are resulted from a particular set of tools, techniques and skills of production (Davis 2014). These competencies are always developed from the procedure of constant improvisations with the time period instead of one big alteration. The utilization and the proper understanding of the entire conceptualization of the core competencies are extremely important and beneficial for the organizations (Drucker 2017). The organizations utilize these core competencies for excelling at their use of knowledge and skills for the creation of anything effective. Furthermore, the proper values of stakeholders and clients are also raised with the help of the core competencies. The examples of core competencies are specialized skills, techniques and even knowledge. The core capability of an organization is the proper ability of management for the development of the core competencies (Lgar et al. 2013). The new businesses or the basic products are also developed with the help of core capability. For the organization of General Electric, there are various core competencies and core capabilities. The core competencies of General Electric are as follows: i) Development of New Products: This is the most significant and important core competency of General Electric. They have the skills or knowledge to develop new products for their clients (World Health Organization 2012). This regular and periodical development of all the new products has made the organization of General Electric to reach their organizational goals and objectives. They have become the largest organization of conglomerate corporations in the United States of America (Karger and Stoesz 2013). There is a vast increment in their market position due to this development of the new products. ii) Excellence and Performance: The second most important core competency of General Electric is the excellence and performance (Singh 2012). Their performance is extremely good and can also be claimed as the best in comparison to other conglomerate organizations of the United States of America. iii) Management of Human Resources: The human resource department of the organization of General Electric is manages perfectly by the management team of the organization (Bucur 2013). This management is extremely important and significant for the organization as human resources is responsible for the entire growth and skills of any organization. iv) Diversification: The diversification and the requirement of new alterations or changes within the organization of General Electric is the fourth core competency of this particular organization (Calzada, Prado and Marzal 2013). The constant changes for the betterment of the products have made the organization extremely popular and recognized by all. The core capabilities of General Electric are as follows: i) Leadership: This is the most significant capability of General Electric (Drucker 2017). They have the unique quality of leadership and thus they are leading the entire market of conglomerate organizations. ii) Collaboration of Workforce: The second important capability of General Electric is the collaboration of workforce (Hitt, Ireland and Hoskisson 2012). All the employees and the staffs of the organization work together and thus the organizational goals and objectives are obtained easily and smoothly. iii) Research and Development: The third significant capability of General Electric is the research and development (Hill, Jones and Schilling 2014). They have the unique capability of researching and developing innovative and new products for their business. iv) Customer Value: The fourth core capability of General Electric is the customer value. The showing of their values to their customers had brought excellent solutions to their problems. The current and the former CEOs i.e. Jack Welch or Jeffrey Immelt have succeeded in their leadership roles and responsibilities for the organization of General Electric (Peppard and Ward 2016). All the above mentioned core capabilities and competencies for GE can be explained with the help of VRIO Framework. The VRIO framework or the Valuable, Rare, Difficulty in imitation and Support by Organization framework helps to understand the overall competencies and capabilities of an organization (Calzada, Prado and Marzal 2013). The competitive implications of this organization help in understanding the competitive advantages and disadvantages. These competitive advantages of General Electric are extremely important for the organization. Moreover, the competitive disadvantages help to understand the overall weaknesses of the organization (Peppard and Ward 2016). The major competencies of General Electric have always been the innovation and the significant quality research and development by the diversification in the products and the management of their human resources. The management of employees is generally done with the help of motivation and encouragement. Furthermore, they are provided with relevant opportunities that could be extremely helpful for the integration of customer solutions ( Eden and Ackermann 2013). As General Electric has various segments and healthcare is the most important segment of this organization, the management of this segment is highly required. This can be done by the proper utilization of expertise, skills and knowledge of all the personnel of General Electric. Apart from the VRIO framework, the value chain analysis model can also explain the competencies and capabilities of General Electric (Wheelen and Hunger 2017). This value chain analysis model is a specific strategic tool that is utilized for the analysis of all the internal activities of an organization. The main objective of this particular strategic tool is the recognition of all the valuable and important activities of that particular organization. It provides competitive advantages to the organization. GE has various activities and can be explained with the help of this value chain analysis model (Lasserre 2012). The primary activities of the General Electric mainly include research and development, product development, marketing and sales, operations, logistics and the customer services. The support or the secondary activities of General Electric are the organizational infrastructure, human resources management, procurement and technology. Thus, it can be concluded that the VRIO framework and the value chain analysis model has recognized all the competencies and capabilities of the General Electric and these competencies would be helping the organization to obtain organizational goals and objectives. GE Strategic Options over Next Five Years General Electric should implement and adapt various new strategies for their business in the next five years. These strategies would be extremely important and significant for General Electric in reaching to the leading position in market (Rothaermel 2015). The implementation of these strategies should be done with proper guidance and care. The selection of the strategies should be done perfectly. There are various strategic tools for General Electric. One of the most effective strategic options for GE is SWOT analysis. The SWOT analysis of any organization helps to understand the strengths, weaknesses, opportunities and threats involved in particular activity of business (Keupp, Palmi and Gassmann 2012). This SWOT analysis is the simplest and widely utilized technique, which starts with the definition of the objective of any particular business activity or project and gradually identifies the several external and internal factors to achieve the objective. The strengths and the weakn esses of an organization is considered as the internal factors, whereas the opportunities and the threats are considered as the external factors of that organization (Eden and Ackermann 2013). The SWOT analysis is usually carried out by all organizations, products, industries or places. i) Strengths: The features or the business characteristics, which provides competitive advantages to the business over all others, are called strengths (Goetsch and Davis 2014). The strong characteristics are known as strengths of that particular organization. ii) Weaknesses: The features or the business characteristics, which provides competitive disadvantages to the business over all others, are called weaknesses of that business (Weiss 2014). The weak characteristics are known as the weaknesses of an organization. iii) Opportunities: The elements in an environment, which an organization can easily utilize for gaining competitive advantages, are known as the opportunities of the organization. iv) Threats: The elements in an environment, which can easily create big problems in an organization, are known as the threats of that particular organization. The organization of General Electric has its own strengths, weaknesses, opportunities and threats (Egan 2013). The SWOT analysis of General Electric is as follows: The strengths of General Electric are as follows: i) Global Strength and Recognition: This is the most important strength of General Electric. This particular organization is globally recognized and popular in comparison to other conglomerate organizations. ii) Good Ranking: General Electric was ranked 5th in Fortune 500 list (Mitchell and Harris 2012). This good raking is again one of the most important strength of this organization iii) Excellent Management: General Electric has the unique feature of managing the organization perfectly and the management team takes extra for this. iv) Proven Leadership and Business Models: The fourth strength of General Electric is their excellent leadership and business models. v) Diverse Product Range: The other strength of this organization is the diversified range of products (Michalski 2013). This helps them to seek the attention of the customers and also the stakeholders. The weaknesses of General Electric are as follows i) Restriction in Company Size: There is a constant restriction or limitation is the size of the organization of General Electric. ii) Flexibility: Lack of flexibility is the second weakness of this organization and thus often suffers from several problems. iii) Energy Segment Underperforming: The third weakness of this organization is the underperforming of the energy segment (Peppard and Ward 2016). Therefore, there exists no signs of future recovery, which can be a major problem for the organization. iv) Reduction of reaction times due to large business: The fourth weakness of General Electric is the decrease or reduction of various reaction times to shifts in all the targeted markets (Rothaermel 2015). This occurs due to the excessive stretching of the business. The opportunities of General Electric are as follows: i) Research and Development: General Electric has significant opportunity in research and development (Lasserre 2012). ii) Increment in Geographical growth: The increment in the geographical growth is the second opportunity for General Electric as it will enhance more geographical areas. iii) Improvised customer services: The improved customer services is the third opportunity of General Electric as this improvisation will attract more customers towards the organization (Hill, Jones and Schilling 2014). The threats of General Electric are as follows: i) Exposure to Global Economy: The most significant threat of General Electric is the exposure to global economy. This exposure can bring major losses to the organization. ii) Slowing down of Economy: The slowing down of economy would eventually affect General Electric as 40% of the total revenue is generated from overseas (Wheelen and Hunger 2017). iii) Exposed to Currency Fluctuations: The exposure to the currency fluctuations is the third threat to General Electric. iv) More transparency and disclosure: Excessive transparency apparently loses the confidentially and privacy of an organization (Peppard and Ward 2016). General Electric should not disclose all of their business activities. v) Constant technological changes: The regular alteration in technology is the fourth threat to General Electric as the technical breakdown can bring losses to the organization (Hitt, Ireland and Hoskisson 2012). vi) Excess diversification: General Electric is excessive diversified in case of their products. This diversification may not be accepted by the customers and the organization may face losses (Rothaermel 2015). Apart from the SWOT analysis, the second strategic option that can help General Electric in the next five years is PEST analysis. This is the scanning of various external environmental factors, within which the organization is existing (Eden and Ackermann 2013). This is the most useful technique for knowing about the political, economic, socio-cultural and technological environment where an organization is operating. The PEST Analysis of General Electric is as follows: i) Political Factors: The political factors of General Electric manly involve the various rules like the tax policy, trade restrictions, employment laws, political stability and environmental regulations (Mitchell and Harris 2012). ii) Economic Factors: The economic factors of General Electric mainly include the interest rates, currency exchange rate, economic growth and inflation rate (Rothaermel 2015). These factors are extremely important for GE. iii) Social Factors: The social factors are the population growth, health attitudes and age demographics. iv) Technological Factors: The most important factors of General Electric are the technological factors in PEST analysis (Lasserre 2012). The investment incentives and the rate of alterations in technology are mostly influenced by the technological factors. Thus, SWOT analysis and PEST analysis are the two examples of strategic options for GE for the betterment in the next five years. There are various strategic options available for GE (Weiss 2014). The most suitable and recommended strategic option for GE is the diversifying in the higher growth markets with the help of advanced technologies. GE has a diverse range of products in several segments like software, medical engineering, pharmaceutical and many more. In this type of conglomerate organizations, diversification is highly recommended (Mitchell and Harris 2012). The utilization of advanced technology in their business will definitely bring huge success in the next five years. Kaplans Balanced Scorecard helps to analyse and evaluate the strategies undertaken by an organization (Keupp, Palmi and Gassmann 2012). It prioritizes the various products and services and monitors or tracks the overall progress to the strategic targets. The Kaplans Balanced Scorecard for GE is as follows: The vision and strategy of the Kaplan Balanced Scorecard comprises of four aspects, namely, customer, financial, internal business and learning and growth (Keupp, Palmi and Gassmann 2012). The recommended strategy for GE is the diversification by advanced technologies. The customer should be satisfied with the overall diversification of products. This diversification should also match with the financial criteria of the organization and should not exceed limit. The internal business processes must be checked and tracked for meeting the estimated targets and various opportunities of learning and growth must be present (Mitchell and Harris 2012). Thus, Kaplans Balanced Scorecard would be utilized for monitoring the strategies of GE. The strategies can be evaluated with the technique of SAFe, which means suitability, acceptability, feasibility and evaluation. Jack Welch or Jeffrey Immelt? A Management Approach Perspective The management approach is evaluated on the basis of several factors and parameters (Ge.com. 2018). Moreover, the management style is extremely required in this case. Jack Welch was the former CEO of General Electric from the year 1981 until 2001. He was then succeeded by the current CEO of General Electric, namely Jeffrey Immelt. Both of them are known for their exclusive management approaches (Michalski 2013). However, both of the approaches differ a lot due to the time gap. The comparison and contrast between the management approaches of Jack Welch and Jeffrey Immelt are as follows: i) Business Operations: There is a huge difference between the management approaches of the two CEOs. Jack Welch mainly focused on the improvisation of efficiency and cost effectiveness (Egan 2013). He was the first one to introduce the Six Sigma Lean Management in business. However, Jeffery Immelt mainly focuses on taking up challenges and innovation in business and opted for advance marketing. ii) Leadership: Both of them had their unique ways of leadership. Jack Welch focused on the sincerity of tasks and for him performance was everything (Michalski 2013). However, Jeffery Immelt is democratic in nature and concentrates on effectiveness and not performance. iii) Strategies in Business: Jack Welch had the habit of dynamic planning, which eventually means he took decisions at the end moment. However, Jeffery Immelt is total opposite (Mitchell and Harris 2012). He beliefs in long term advantages and makes decisions much prior to the actions. iv) Economic conditions: Jack Welch has only faced all types of domestic competition (Michalski 2013). However, Jeffery Immelt has faced every situation like slowing down of global economy to international competition. Hence, from the comparison, it is evident that Jeffery Immelt is a step forward than the former CEO of GE as he has seen various business turmoil and has a much more practical approach for his business (Ge.com. 2018). The present business world is VUCA or volatile, uncertain, complex and ambiguous. It is highly needed that the business strategies should be changed periodically with practical approaches. Jeffrey Immelt is more suitable in this situation. Conclusion Therefore, from the above discussion it can be concluded that GE is the largest multinational organization of the United States of America. It is a conglomerate corporation that has its incorporation in New York and the headquarters are in Boston. This particular company has several sub divisions mainly including the Renewable Energy, Capital, Aviation, Energy Connections, Power, Lighting, Global Research, Transportation, Current, Oil and Gas and Healthcare. Each and every segment of the organization of General Electric provides the specific needs of industries related to engineering, automotive industries, medical devices, finance services, pharmaceutical, software development and finally life sciences. The above report has described about the core competencies of General electric organization. Moreover, the several strategies are also discussed here that could be the options for this organization. There was always a comparison between the present and the previous Chief Executive Of ficers or CEOs of General Electric. 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