Fianl report Essay Example | Topics and Well Written Essays - 1500 words

Fianl report - Essay Example His deep insight into the need for electrical products for the people of his era motivated him to set up business for his electrical products. By 1876, Edison remained busy in the research activities of electrical products and established a laboratory for it. This laboratory was founded in New Jersey, USA. In order to make the world realize the importance of his products, he formed a business company named as Edison General Electric Company. Under this name, he united all his inventions and started marketing them. During the same period, a competitor organization named as Thomson Houston Company emerged. With the passage of time, both the competitors realized that it is almost impossible to survive as competitors because the products from both companies were increasingly becoming supplementary for each other. After successful negotiations, they merged together and one organization emerged who was named as General Electric Company. GE has vast product line and it is interesting to mention here that many of these products were part of the business even when the business started. It is regarded as an achievement of Thomas Edison that his inventions were present in many fields related to medical health care, transportation, consumer electronics, industrial equipments and power transmission etc. GE has established its GE brands with its rich product line and all the sub organizations are headed by dedicated CEO and Chairman. GE is a successful name when viewed from the perspective of business owners, customers and employees alike. Customers prefer buying GE products because of their guaranteed performance and reliability. The customer’s loyalty paves the way for profitability of GE and pays favorable returns against the investment of owners. GE is ranked among the top employers of the choice which attracts high talent at high compensation rate. The secret of GE’s success is its strategic management techniques.

External and Internal Environmental Analysis of Bayou Inn Essay - 3

External and Internal Environmental Analysis of Bayou Inn - Essay Example Success in the hospitality industry can only be achieved if a company models its vision statement to target the customers it intends to provide services (Briggs, 1999). The vision statement must be brief, clear and concise. It must indicate the general direction the hotel aims to head, while capturing the dream of the founders of the company. Therefore, the recommended vision statement must highlight the high regard in which customers are held by the employees, management and shareholders of the hotel (Briggs, 1999). In the case of Bayou Inn, the vision statement can highlight how the business intends to look in a specified duration of time. In such a scenario, the capturing of Bayou Inn’s aspirations occurs. An analysis of vision statements of the biggest hotels in the hospitality industry indicates that these statements capture the aspirations of their founder; for example, Conrad Hilton’s vision statement for the Hilton chain of luxurious hotels, â€Å"To achieve ex traordinary things, you must first dream magnificent dreams† (Briggs, 1999). Therefore, an example of Bayou Inn’s vision statement could be, â€Å"Taking care of you by giving you a home when you are away from home† (Briggs, 1999). The mission statement is considerably different from the vision statement in that it provides a description of what the organization intends to do after reaching its target mark (Briggs, 1999). Druker (1954) explains that the mission statement outlines the purpose of an organization by providing realistic and clear business objectives. Drucker also emphasizes that the customers rely on the mission statement to figure out the services it provides (Briggs, 1999). Rarely do people look at the statutes, articles or names of an organization to determine the role it plays.