President Daniel
General Electric is being recommended for establishment of an intern program with Daniel University because it possesses the desired qualities of being an industry leader, has acceptable ethical standards, and has an intern program in place that provides a variety of work opportunities and career paths. In addition, the company provides the school the benefit of boosting our credibility in the business world, increasing interest in our program, and increasing student satisfaction with their school experience.
GE as an Industry leader General Electric has been an industry leader because of its high revenues and wide industry net, and this impacts its desirability as an intern location and student satisfaction with our school. In 2007, GE posted revenues of $172 billion. Operating in the industries of Broadcasting and Entertainment, Energy/Utilities, Financial services, Health care and transportation, GE has a broad reach and provides leadership across the spectrum of its services.
In 2008, Fortune magazine ranked the company 3rd most admired overall and first in electronics based on their innovation, leadership and financial strength . The size and longevity of the company means that case studies from its operations is included in nearly every business school case study book. This ensures that our students have a familiarity and interest in working for them. The increase in our students satisfaction with our program when they have a school sponsored internship will improve our ranking on school lists.
GE’s Ethical Standards GE’s progressive people focused history, transparency and forsight indicates a high degree of Ethical Behavior. GE made waves when its CEO Jack Welch responded to the knowledge economy by changing its vertical structure and including employee input on its core values and decision making. Putting people first during change management proved that the company is willing to work ethically in a profit driven industry. Yet, with its investors, it also shows integrity.
During a recent investor meeting, GE appeased its investors with a high degree of transparency over financials after failing to meet last years projected growth. By not concealing the inner workings of the company, during this economic downturn, the company maintained its esteem and credibility. GE showed another area recently where its ethical behavior saved itself from financial ruin. In July of 2008, despite the fact that it receives over half its money from the financial sector, decided to cut its losses and get out of the subprime industry.
By taking a financial hit before public opinion turned on the company proves that it is willing to sacrifice its bottom line in order to secure its reputation and future financial prospects. GE has shown some ethical misbehavior in the area of Environmental responsibility. It is involved in 87 superfund cleanup sites, putting the company at the top of toxicologist and University of Albany professor Dr. David Carpenter’s list of biggest polluters. Carpenter claims that GE has shown no “sense of social responsibility.
” Its biggest environmental disaster was the contamination of the Hudson river with PCBs, something it claims was due to the fact that they are an old company not because of any unethical behavior. Although the company shows some reluctance to acknowledge the harmful effects of PCBs, and has long advocated a do nothing cleanup policy on the Hudson in particular, they do show some promise for future environmental gains. In 2001 they committed to cleaning up a 40 mile stretch of the Hudson, and they have since launched the Ecomagination initiative which promises to drive environmentally friendly initiatives to market.
Despite its shaky environmental record, its efforts to clean up some of the contaminated sites, and leading position on other environmental concerns give GE a passing ethical rating. GE has an established Intern program. GE’s intern program is well grounded in expert mentorship and formal workshops and training opportunities. Internships can take place during the summer, or occur for 3 to 9 months during the school year, both times bolstering students confidence and committement to their education.
GE allows interns to chose the industry that they would like to work in. Due to the size of the company, this ensures a wide variety of different work experiences. The company prefers students apply through their school career center , creating a formal relationship with GE will help bolster our student’s successful applications, and our university’s reputation in the business environment. Overall, GE is a good fit for Daniel University’s Intern program.
Its long term industry leader status in multiple industries, ethical conduct, and established intern program compliment the universities goal of providing experiences which improve the visibility and reputation of the university while enhancing the student’s academic experience and satisfaction. Works Cited Benner, K. GE’s Transparency applauded, outlook questioned. Fortune. March 20, 2009. Retrieved March 27, 2009 from http://money. cnn. com/2009/03/20/news/companies/benner_ge. fortune/index. htm Colvin, J. Top 20 Most Admired Companies 2008. Fortune, March 3, 2008. Retrieved March
27, 2009 from http://money. cnn. com/galleries/2008/fortune/0802/gallery. mostadmired_top20. fortune/3. html Kotelnikov, Vadim. Case Study: General Electric. Retrieved March 27, 2009 from http://www. 1000ventures. com/business_guide/cs_inex_ge. html Stier, K. General Electric and the Hudson-the dirty legacy of an admired company. Ethical Corporation, retrieved March 27, 2009 from http://www. ethicalcorp. com/content. asp? ContentID=5223 Vault guide to career internships, 2009. Vault. Retrieved March 27, 2009 from http://www. vault. com/graddegree/internships/pdfs/internship_1167. pdf
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