The General Electric Mckinsey Matrix Marketing Essay

The General Electric Mckinsey Matrix Marketing Essay In 1890, Thomas Edison established his own company and named as Edison General Electric Company by bringing his different businesses together. Two years later, Edison General Electric Company incorporated with Thomson-Houston Company and, then they named the new organization as General Electric Company. The new organization the General Electric Company is a diversified technology and financial services company. General Electric Company has different type of products and services. They main product and service is householder appliances and General Electric Company is one of the largest manufacturers of major appliances in the world. Besides that, General Electric Company also has other different type of products and services such as aviation, consumer electronics, customer training, electrical distribution, energy, finance-business, healthcare, lighting, oil gas, rail, software services, water, and other. In the early 1890s, the first General Electric appliances electric fans were produced, and a full line of heating and cooking devices were developed in the year 1907. A few years later, General Electric Company developed the first airplane engine booster for the fledgling U.S. aviation industry. Besides that, the plastic filaments for light bulbs were created in 1930, and led to the first General Electric Plastics department. Through the years, General Electrics leaders have built a portfolio for the diversity of management and leading businesses. Thats made the General Electric Company become a most success company that drives growth and reduces the production costs; increase financial strength and Controllership that allow it to capitalize on opportunities through numerous cycles. And, they have a set of common values that allows it to face any environment or situation with confidence. In 1971, the General Electric Company with the helped from McKinsey developed a General Electric/McKinsey Matrix. General Electric/McKinsey Matrix In 1971, the General Electric Company with the help of McKinsey developed the General Electric/McKinsey Matrix. And, General Electric Company used it to measure or decides whether they still need to invest, retain, or divest on their business unit. From internet, The GE matrix/McKinsey matrix is a model to perform a business portfolio analysis on the Strategic Business Units (SBU) of a parent company. Besides that, this matrix is measure the business unit through the business units attractiveness and business strength. When the business units attractiveness and strength is high, the company should keep invest for gain more profit. On the other hand, when the business units attractiveness and strength is medium, the company should retain or selectively invest. But, when the business units attractiveness and strength is low, it is the time for the company to exit that business unit or stop invests in that business unit. The aim of this portfolio analysis is: Analyze its current business portfolio and decide which Strategic Business Unit (SBU)s should receive more or less investment. Develop growth strategies for adding new products and business to the portfolio. Decide which business or products should no longer be retained. Literature review Nowadays, General Electric can be more successful. If should related to the McKinsey and Company consulting firm. Because General Electric Company get the help from McKinsey and Company consulting firm, and developed a more complicated matrix (Figure 2.1). Through the internet research, the General Electric Company used GE matrix/McKinsey matrix as their planning system for management of diversity. From my general knowledge about the GE matrix/McKinsey matrix, it is a strategic that will separate from the mother company into many small business units and determine which business unit should invest more, retain, or divest. From Strategic Management: theory and case study, by Tunchalong Rungwitoo, the General Electric / McKinsey Matrix, is a nine cell matrix from two dimensions, which is industry attractiveness and business strength. For the use of General Electric/McKinsey Matrix, they use the GE matrix/McKinsey matrix to identify whether the small business units should invest, retain, or divest. Besides that, it also can fits perfectly to the companys strengths and helps to exploit the most attractive industries or markets. Besides that, General Electric Company can see the status of their business units and suggest the strategy the business fell in which categories through the General Electric/McKinsey Matrix (Figure 2.2). The vertical axis of the General Electric/McKinsey matrix is industry attractiveness, which is determined by the factors such as market growth rate, market size, demand variability, industry profitability, industry rivalry, global opportunities, and others. And, the horizontal axis of the General Electric/McKinsey matrix is the strength of the business unit. Some factors that can be used to determine business unit strength include: market share, growth in market share, brand equity, distribution channel access, production capacity, and profit margins relative to competitors. From International Journal of Humanities and Social science, the General Electric/McKinsey Matrix requires the identification and assessment of both external and internal factors, which are industry attractiveness and business strength on a nine-cell grid. To grow, to hold, or to harvest are the categories used to classify both attractiveness and strength (Figure 2.2). When that is high attractiveness and high business strength (Leader), the company should seek dominance and maximize investment. When that is medium attractiveness and medium business strength (Proceed with care), the company should specialize and invest selectively. And, when that is low attractiveness and low business strength (Withdrawal), the company should attack rivals and time exit. Data analysis After the research, General Electric/McKinsey Matrix had seen more effective and useful for the companys strategies business units (SBU). Because it will look at the industry attractiveness and business strength for every companys business units, and make sure every business unit will get profit. For example, the industry attractiveness, which will determined the companys business units market growth rate, market size, demand variability, and others. After that, this matrix also looks at the business unit strength such as market share, growth in market share, brand equity, production capacity, and others. Then, they will use the business attractiveness and strength to determine whether they still need to invest, retain, or divest for that business unit. References for history: Profile: General Electric Co (GE.N). (n.d.). Retrieved October 29, 2012, from http://in.reuters.com/finance/stocks/companyProfile?symbol=GE.N Thomas Edison GE. (2012). Retrieved October 29, 2012, from http://www.ge.com/company/history/edison.html Products Services. (2012). Retrieved October 29, 2012, from http://www.ge.com/products_services/index.html http://dl.wecouncil.com/Serf/SerfWeb/User1/GE%20Matrix.pdf McKinsey matrix-GE matrix. (2012). Retrieved November 9, 2012, from http://www.valuebasedmanagement.net/methods_ge_mckinsey.html Samuel Obino Mokaya, Beatrice Wakhungu, Raphael Mwiti Gikunda. (2012). The Application of McKinsey Matrix in Determination of Route Attractiveness and Resource Allocation in Kenya Airways. International Journal of Humanities and Social Science, Vol.2 No.3, pp. 259-261. http://www.ijhssnet.com/journals/Vol_2_No_3_February_2012/35.pdf GE/McKinsey Matrix. (2010). Retrieved November 10, 2012, from http://www.quickmba.com/strategy/matrix/ge-mckinsey/ Tunchalong Rungwitoo, Strategic Management: Theory and Case Study, May 2012, pp. 28-33. Appendices: Definition of General Electric (Print screen) The aim of portfolio analysis (Print screen) The vertical and horizontal axis of General Electric/McKinsey matrix (Print screen) Business strength High Medium Low Industry attractiveness High Medium Low Figure 2.1-General Electric/McKinsey Matrix Business strength High Medium Low Industry attractiveness High Seek dominance Maximize investment (Leader) Identify Growth area Invest in growth (Try harder) Maintain position Seek cash position (Cash generation) Medium Identify weaknesses Build on strengths (Growth) Specialize Invest selectively (Proceed with care) Pure lines Minimize investment (Phased withdrawal) Low Specialize niche Seek acquisition (Improve or quit) Specialize niche Consider exit (Phased withdrawal) Attack Rivals Time exit (Withdrawal) Figure 2.2-General Electric/McKinsey Matrix (1971)

Case Study Retailmax

Case Study RetailMax: Role for Cam Archer and Regan Kessel Elizabeth Smith Grand Canyon University, LDR 610 April 10, 2013 Everyone has power to some degree. French and Raven (1959) distinguished five types of power: referent power, expert power, reward power, coercive power, and legitimate power and with each of the five types, the stronger the basis of power the greater the power. Power is defined in terms of the influence a person has over the ability to change behavior, opinions, attitudes, goals, needs, and values (French & Raven, 1959).Cam Archer is in a position of power at RetailMax; she has the CEO’s support to accept either a more lucrative position in the Professional Services (PS) Department or a marketing position with Regan Kessel, the Vice President of Product Management and Marketing (PMM) (McGinn & Witter, 2006a). Which position will provide Archer with the power to meet her needs; will Kessel’s power be affected if Archer accepts the position within hi s department? The power bases and social influence of both Cam Archer and Regan Kessel will be evaluated to determine which of the two most effectively used their power sources.Cam Archer is in an interim position as a retail account executive with RetailMax, Inc. , a software company based in Boston. Upon graduating with her MBA from a leading business school, Cam began working for RetailMax, a company providing merchandise optimization software. While working in business development where she was responsible for managing strategic alliances and partnerships, RetailMax was forced to downsize and all areas that were not directly involved with making or selling software were laid off.Cam was asked to join the sales team, an avenue she was not interested in, but one she agreed to accept because of her belief and faith in the entrepreneurial culture and service commitment RetailMax could provide to retailers during the current recessionary period (McGinn & Witter, 2006a). Cam’s dedication, drive, sacrifice, and social influence paid off; within the first year of sales she had built solid internal and external customer bases. Cam’s potential power was great. She had the trust and respect of the executive team and the support to decide which position she would accept; her fate was in her own hands.Cam’s referent and expert power is recognized by the CEO when he recruits her to handle an emergency situation with a new RetailMax customer who was one of the largest â€Å"big-box† retailers in the country (McGinn & Kessel, 2006a). Regan Kessel, a seasoned software executive, was recruited by Todd Elman, CEO of RetailMax to head product management and marketing because of his task, knowledge, and personal power. Kessel was put in place during Elman’s turnaround of RetailMax, and upon assessing his team he determined his product managers did not have the time or skill set to develop a consistent and clear marketing message.Although Kess el had the legitimate power to determine a strategy for his marketing dilemma, the solution came through another avenue. An informal meeting with Elman and Archer led to a brainstorming session that produced a plan of how to move Cam into the marketing department and provided a product marketing strategy. A new position, Director of Product Marketing, would be created for Cam, a position that would utilize her knowledge and expertise (McGinn & Witter, 2006b).Kessel is in the position to create a competitive compensation package, will Cam’s gender influence Kessel’s decisions because of stereotypical gender roles? It does not appear that Kessel made compensation decisions based on Archer’s gender; instead, his desire was to come up with a fair proposal based on Archer’s current and potential financial successes for the company, her skills, education, and qualifications; the same factors he utilized in determining the salary base for each of his employees.B ut, Kessel was going to have to make a tough decision. What was he going to offer Archer to incentivize her to accept the Director position, and would there be negative social factors such as resentment and envy toward Archer for her relationship with the Executive team? Cam is in a position of power. Not only does she have power over which position she will take at RetailMax, she also has strong personal and relationship power with both internal and external customers in addition to her close and personal relationship with the CEO and VP of sales.Kessel also possesses strong relationship power, if Cam accepts the position in Professional Services; he knows he can quickly locate a qualified candidate to replace her because of his strong ties and connections in the industry. What assumptions did Kessel make regarding Cam, and what if any assumptions did Cam have regarding Kessel? Kessel is aware that Cam does not want to stay in sales and she is tired of all the travel, he knows she is ambitious and assumes his compensation package will have to match the package being offered by Mangini (McGinn & Witter, 2006b).Cam assumes Kessel may resent not being able to select his own candidate for the Director position. She has researched the salary structure for the product managers and assumes Kessel will offer her a compensation package that is in line with the market, but since her role will have a broader more strategic scope she hopes to be compensated for this. On the other hand if she accepts the professional service position she will not be in a position to receive any credit if she is able to help with the turnaround of a chaotic professional services department (McGinn & Witter, 2006a).Cam has a decision to make, which position will strengthen her power? While the professional service position provides the opportunity to work closely with customers, involves revenue generation activities, and connects her compensation to revenue goals, Cam knows the position wi ll require as much travel as her recent sales position, while the marketing position is a more stationary position which means the opportunity to reestablish friendships and social activities, something Cam has missed.Cam is also drawn to the marketing position because it moves her toward her career goals of being in management. Although Cam would not have any direct reports, she would work with all five product managers to develop and implement marketing strategies for the corporate level, a level with more social networking, power, and prestige (McGinn & Witter, 2006b). Should Kessel be concerned with Archer’s career advancement, Archer does have the â€Å"ear† of the CEO, a close working relationship with the VP ofSales, and now she is being recruited internally by another VP? The benefits of hiring Archer means Kessel will gain an intelligent, dedicated employee with proven success for RetailMax and whose social connections and charisma could bring positive attenti on and promotion to the department; while the deficits being related to the team’s morale and how they may respond to a socially connected internal transfer who had a position created for her.Hiring an external candidate at a lower salary opens up the opportunity for Kessel to reward his current employees with a pay raise above cost of living, something they have not received in two years (McGinn & Witter, 2006b). Kessel has a decision to make. Kessel has put together his compensation package and made Archer an offer. Kessel reminded Archer of the benefits of the position: limited travel, social benefits and stability, and career advancement along with offering her a compensation package of $138,000 (15% above the market) because of her experience and proven success record for RetailMax (McGinn & Witter, 2006b).Archer believes the marketing opportunity makes good use of her education and skills, meets her personal needs and career goals, and positions her with the power and i nformation sources for the company; because of this she believes this is the best choice for her. Upon evaluation of both case studies, Cam Archer used social power most effectively through taking career risks that not only helped to develop and enhance her skills, but which brought visibility and attention to her reputation for being an innovative and resourceful employee whose charisma and business acumen brought much success to RetailMax.References French, J. R. P. , & Raven, B. H. (1959). The bases of social power. In D. Cartwright (Ed. ), Studies in Social Power (pp. 259-269). Ann Arbor, MI: Institute for Social Research Retrieved from http://www. communicationcache. com/uploads/1/0/8/8/10887248/the_bases_of_social_power_-_chapter_20. pdf McGinn, K. , & Witter, D. (2006a). RetailMax: Role for Cam Archer. Boston, MA: Harvard Business School Publishing McGinn, K. , & Witter, D. (2006b). RetailMax: Role for Regan Kessel. Boston,

Makeup Essay

How to put on makeup Many women in the world use make-up for many different reasons. Here is a fast method for women and girls who have never put on makeup. If you are interested in a more casual look this would be the perfect method to use. The method consists of putting on eyeliner, mascara, eyebrow pencil, eyeshadow, bronzer, lip stick, lip gloss and body sparkles. First off, put liquid eyeliner directly on top of eyelashes right where the eyelid and eyelash meet. Then after you do that, put a 1/2-inch line of liquid eyeliner on outer sides of eyelids to make your eyes look fuller and wider.After that make sure the lines are equal. Next apply mascara to upper and lower eyelashes, but make sure you don't put too much cause your eyelashes might end up clumpy. Also make sure you applied enough eyeliner and mascara so your eyes look wide and bold. Then, apply a matching eyebrow pencil to eyebrow to make them look sharper and more elegant. After you complete that step, then take a dark brown eyeshadow and place it right above the eyeliner with an eyeshadow brush. Make sure you do not cover up the eyeliner with the eyeshadow.After that, take the eyeshadow brush and add a light pink eyeshadow directly beneath your eyebrow. Once you have done that take a small blending brush and blend both of the eyeshadow together. It should make a pinkish brownish color once completely blended. Make sure your eyebrows and eyeshadow look even and match the color scheme. Lastly, get a bronzer that matches your skin tone and lightly brush it over your cheekbones with a medium sized buffer brush so your cheeks look shinier than the rest of your face. Next apply a reddish pinkish lipstick to your lips.Making them bright and elegant. Then add a sparkly pink or red lip gloss to make the final touches on your makeup. Make sure that you do not have too much bronzer on. Finally, dab an even amount of body glitter all over your body. In conclusion, many women and girls use makeup for many di fferent reasons. The method above is great for a casual look. This method is also great for women and girls who have never put on makeup. list of the things you will need to put on your make up consists of, eyeliner, mascara,eyebrow pencil, eyeshadow, bronzer, lip stick, lip gloss and body sparkles.

Who Invented Lollipops

Nobody knows for certain who invented stick candy. A lollipop is a form of stick candy. Trademark Lollipop The name lollipop was first coined by George Smith, owner of a confectionery business called the Bradley Smith Company. George Smith named the stick candy after his favorite race horse Lolly Pop. George Smith trademarked the name lollipop in 1931, the name has since fallen into public domain. However, George Smiths story of how he thought up the name might be a true horsetail, since in the northern part of England, lolly means tongue and the word lollipop may have first originated in England. George Smith still was the only person to trademark the name Lollipop. Samuel Born and the Born Sucker Machine Samuel Born was a Russian immigrant who invented a lollipop making machine. In 1916, San Francisco gave the ingenious candy maker the keys to the city for inventing the Born Sucker Machine. The machine mechanically inserted sticks into lollipops. Samuel Born is also credited with inventing chocolate sprinkles, or jimmies for ice cream cones. Racine Confectioners Machinery Company In 1908, the Racine Confectioners Machinery Co. of Racine, Wisconsin invented a machine that could make forty lollipops a minute. Holopops - Hologram Lollipop In 1998, Holopops, a hologram lollipop was introduced by Light Vision Confections. The hologram design is etched on the lollipop surface.