Write one paragraph ONLY! Responding to this discussion.
Do this by: Communicating a central idea or point that builds on the post of a peer. Asking questions, offering thoughtful ideas, or Sharing personal connections that relates the posts.
The first company that comes to mind for implementing the I/O model is General Electric. First, GE has a broad reach in products and services so it will be vital for them to study the general environment as well as how each of their products will fit into their relative industry. With such a span of products it is advantageous for GE to also examine their competitor’s environment to help gain understanding on which of their products is successful versus competitors, or is not, and why? Next, we need to identify if the industry is attractive in terms of profitability for GE. Which industries and markets are they going to tackle to ensure their profitability is at peak potential? General Electric primarily focuses on technological development whether it be in transportation, medical tools, or just daily household products. These industries are ever changing and need constant innovation and adaptation, but in general they are very profitable. This leads me to our next step, strategy. In the case of GE and their perspective markets, the ability to follow change and adapt products to stay competitive will be imperative for longevity in their I/O model. Once an innovative based strategy is developed, GE must be able to identify their assets. The top two assets that must be considered is their proprietary developments and inventions. The industry(s) that General Electric competes in, it will be a good strategy to put a lot of faith in their past developments and build onto them. Secondly, people are the top asset to drive innovation and attract top talent while retaining them as long-term employees. Lastly, for a company as big as General Electric, strategic acquisitions can help consolidate their success in the industry as well as bring in new people, with new ideas that can drive innovation further. Once all of these assets and culture binding processes are finalized, GE will put this I/O model into effect and begin to implement the strategy. As we have seen in years past, General Electric is a pretty consistent performing company. Although there has been ups and downs in the history of the company, there is no arguing that GE is strong competitor and remains to be a familiar name across multiple industries, countries, and homes.