Essay: General Electric's Ecomagination Initiative in May, 2005

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General Electric's Ecomagination Initiative

In May, 2005 Jeffrey Immelt, CEO of General Electric (GE), launched the eco-imagination global initiative that sought to invent new products and services that preserved and in some cases strengthened natural resources while increasing profitability (Guerrera, 2007). The initiative has since generated over 80,000 new jobs in GE and its suppliers fueled by a $1.2B investment annual in Research & Development (R&D) by the company through 2011 (Mitra, 2010). The core technologies that GE is concentrating on in this initiative include wind and solar, energy production and conversation, transportation and logistics technologies including electric trains and RFID (Railway Age, 2010) and water purification (Mitra, 2010).

Analysis of the Ecoimagination Initiative

Initially started as a means for GE to attain its own internal sustainability and carbon footprint objectives, Ecoimagination has since become a catalyst of global R&D investment and product leadership internally (Guerrera, 2007). What GE discovered is that the innovations it was making internally to reduce their carbon footprint including CHG emissions, particulate waste, carbon dioxide emissions

(Mitra, 2010). What originally began as a series of initiative for GE to stay in compliance to U.S. And international regulations and environmental standards was transformed via the ecoimaginaition initiative into a multibillion dollar business

(Guerrera, 2007). The net result has been a highly profitable business with strong Return on Investment (ROI) as GE realized a profitable gain by helping companies just like themselves overcome these environmental regulations and requirements. GE literally took an internal program meant to control costs and turned it into a profitable business by paying attention to the unmet needs and pain points of their suppliers, competitors and companies like them in other industries (Guerrera, 2007).

GE also realized that as they expanded into entirely new businesses that were inherently not sustainable from an environmental standpoint.… [END OF PREVIEW]

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