Diversification at General Electric

Diversification at General Electric
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Diversification at General Electric General Electric was founded in 1892 by Charles Coffin, and largely concentrated on selling electrical products. He was succeeded by Owen Young in 1932, who started GE Credit Corporation, which later became GE Capital. The company greatly diversified and ventured into areas such as jet engine and computer unit production under the successive leaderships (Ocasio & Joseph, 2008). The number of products made by the company increased and its revenue as well as income grew during these years. Immelt took over at the helm of the company in 2001 and embarked on a mission to undo some of the acquisitions that had been made by his predecessor, such as GE Plastics. His tenure faced difficult events such as the financial crisis of 2008, which led to dismal performance. Immelt’s leadership has guided the company through divestment as well as diversification in prod...