Ecomagination: Driving Sustainable Growth for GE
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Case Code: BSTR387 Case Length: 20 Pages Period: 2005-2010 Pub Date: 2011 Teaching Note: Available |
Price: Rs.600 Organization: General Electric Company Industry: Diversified Countries: Global Themes: Corporate Social Responsibility, CSR as Strategy, Green Marketing |
Abstract Case Intro 1 Case Intro 2 Excerpts
"GE should be commended for a bold approach to climate issues. However, the company has a long way to go before it can legitimately claim to be an environmentally progressive company."
- Jeff Jones, Communications Director, Environmental Advocates of New York, in 2009.
Green Can Be Green!
On June 24, 2009, US-based technology giant General Electric Company (GE), surpassed its target of investing US$5 billion in research and development in its environmental initiative, Ecomagination. GE had earlier set 2010 as the target for achieving this goal but reached it a year ahead of schedule.3 The company planned to invest an additional US$10 billion in R&D by 2015. It was also on its way to achieving the US$20 billion mark in revenues from Ecomagination products, having generated US$18 billion in 2009, an increase of 6%. GE expected the Ecomagination revenue to grow at twice the rate of the total company revenue by 2015, which would give Ecomagination an even larger share of the total company sales.
According to Steve M. Fludder (Fludder), vice president, Ecomagination, "We have grown Ecomagination revenue and research and development every year, even in challenging economic times. Given our success, we are committing to do more. The vision of a cleaner, affordable, secure, and globally accessible energy infrastructure inspires and motivates us."
Established in 1892, GE is a diversified conglomerate with products and services ranging from aircraft engines and power generation to business and consumer financial services, healthcare, and television programming. Started in 2005, Ecomagination embodied GE's commitment to building innovative clean energy technologies and meeting customers' demands for more energy-efficient products and bringing reliable growth for the company.
The main objectives of this green initiative were to reduce greenhouse gas (GHG) emissions, increase energy efficiency of GE operations, improve water use, double the investment in R&D for cleaner technologies, and keep the public informed about its Ecomagination efforts.
Through Ecomagination, GE developed products and services with lower environmental impact, such as energy-efficient engines, appliances, locomotives, and wind turbines. According to some analysts, Ecomagination was a business opportunity for GE to increase revenues by introducing energy-efficient products to customers...
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