GE 2014 Annual Report Download - page 19

every other company. Professional “general
management” is on the wane. We need deep
and technical leaders who are broad enough
to see around corners.
Leaders understand that mistakes are an
essential part of getting things done. I have
never made a mistake in my conference
room; only the market determines success.
Winning in the market requires experimen-
tation. We are putting a premium on speed
and competitiveness versus perfection. I
support our leaders to use their judgment,
not being a slave to process.
I, too, have become a different leader. To run
GE, complacency is not an option; that is
not my style anyway. But after 13 years, it
is easy to develop blind spots.
I have surrounded myself with different
people. At the staff level, the team has
recently come to headquarters from the
businesses so there is a different context
for priorities and a sense of urgency.
One fl aw I have seen in myself, and others,
is confusing tailwind with good management.
It is diffi cult to spot the best leaders when
times are good. Some businesses are doing
well, but should do better; some businesses
do well when they merely outperform a
tough market.
Personally, I have learned to be a better
risk manager. The fi nancial crisis was hum-
bling but also a great teacher of lessons.
Really bad things happen. I take no comfort
in checklists or large presentations that look
backward. I spend my time in areas that
can drive forward-leaning impact like cyber-
security, product quality and liquidity.
I am both more informal and more open.
I like our team, our customers and our
investors. I learn a lot from them. I continue
to push myself and the team. Inside GE,
there is no task beneath me, even today.
I am committed to deliver results in an
uncertain world.
Today, GE is a different company—a
company in motion; a company that
is well-positioned to seize this moment,
and lead as we always have. I am
proud of the GE team. And I am more
confi dent than ever that our best
days lie ahead.
Jeffrey R. Immelt
Chairman of the Board
and Chief Executive Offi cer
February 27, 2015
INDUSTRIAL INTERNET = CUSTOMER OUTCOMES
OIL & GAS
Intelligent Pipeline
The Columbia Pipeline Group
is using Intelligent Pipeline to make better, faster
decisions on its pipeline operations.
EXTRACT AND
DEFINE
PRIORITY DATA
CONSTRUCT
PREDICTIVE
MODELS
ESTIMATE
RISK IN
REAL TIME
POWER & WATER
Advanced Gas Path
Dubai Aluminium increased
output 3.4% and increased
fuel effi ciency.
HEALTHCARE
Centricity
121 health centers in
Västra Götaland collaborate
on 40,000 images in the
cloud per year.
AVIATION
Flight Effi ciency Services
GOL Airlines forecasts
$90M in fuel savings
over fi ve years.
TRANSPORTATION
Movement Planner
Norfolk Southern’s Georgia
division has continued to see
a 10% improvement
in network velocity.
GE 2014 ANNUAL REPORT 17