GE 2015 Annual Report Download - page 27

ing the average investor. It is confusing for
investors when they are told that company
leadership is about filling out forms, not bold
growth strategies. It takes strong leadership to
bridge the divide between activist regulation
pushing you backward and activist investors
who want more right now. It is possible to be
ultra-competitive, strategically bold and disci-
plined at the same time. But, it requires great
people who want to make a difference. The
most important culture change still ahead of
us is to be completely intolerant of being nice
for the sake of getting along. To fight for ideas;
to fight for our customers; to fight for efficien-
cy; to fight for people who are different.
I want our leaders to learn to ask, “Why not
us?” I want them to dream about new levels
of growth and performance. I want them to
see the world both as it is and as it could be if
we are determined to lead. Brad Mottier is one
example. He is the architect of our big wins in
turboprops. He built this business as an entre-
preneur who leveraged the GE Store. Now, we
are penetrating one of GE’s biggest unserved
markets. We will change the game. Not every
great idea in the future will come from a start-
up in Silicon Valley. Some will come from big
companies who ask, “Why not us?”
Similarly, companies can have a broader im-
pact on the way the world works when we
are not afraid to act. Two years ago, with
the leadership of John Rice, we opened a
business process outsourcing center in Sau-
di Arabia. Our vision was to tap into a pool
of talented Saudi women to execute process
support for our activities in 50 countries.
Many people asked, why? Now the center is
growing and competing globally. It has creat-
ed 700 jobs. It is led by a Saudi woman, Dr.
Amal Fatani. Sometimes businesses can drive
change faster than governments if they ask,
“Why not us?”
I am really proud of the GE team. They are
talented, global and driven; they, too, have
been tested. The GE team will never be out-
worked, and we don’t give up. Last year, we
won a $2.5 billion order to upgrade the India
rail system. This was a project we worked on
for 20 years. It required global teams, week-
end travel and all the strength of the GE Store.
One of the heroes who delivered this win will
retire in 2016. His name is Dave Tucker. He
was the commercial leader in our Transpor-
tation business. Like many GE leaders, he has
lived the “American Dream,” becoming more
than he thought possible. He grabbed every
initiative and stayed contemporary. He hated
to lose and rarely did. He had the best pack-
age of traits for a leader in the world today:
He was a fantastic salesman, and he was a
shrewd risk manager. He was always willing
to change, lead and compete.
You never hear about the heroes who work
at GE. They are not evil globalists or crony
capitalists. They are your neighbors. We are
part of an economic ecosystem that is the
most competitive in the world. We create
great jobs through private enterprise and
ingenuity. We give back competency and
innovation directed at solving the world’s
toughest problems. We are all proud to work
at GE, a purposeful company that makes a
difference in the world.
That is the spirit with which I am asking
investors to join GE as we transform and ex-
ecute. We have delivered for you in the last
five years. But we are still underowned by big
investors. In this time of uncertainty, why not
GE? We have great businesses, global scale
and strong initiatives. We have a ton of cash
that can protect you. And we will lead the In-
dustrial Internet. We are the Digital Industrial.
We have grit. Our leaders learned from the
experience of economic volatility.
During the financial crisis, in 2008, we were
frequently criticized about the size of GE Cap-
ital. Investors would ask, “Why do you have
so much commercial real estate?” They had
a point. But we knew that merely shrinking
GE Capital would not create an enduring and
valuable GE. So we challenged ourselves with
a different aspiration: to reclaim our role as
the world’s most valuable industrial compa-
ny; one that will lead in innovation and value
creation. We are delivering on that dream.
We act. We learn. We get better. We insist on
being more than we are today. Some compa-
nies are retreating; we are moving forward to
become the Digital Industrial. We are commit-
ted to deliver for you. Join us as we create the
next wave of growth. Why not GE?
Jeffrey R. Immelt
Chairman of the Board
and Chief Executive Officer
February 26, 2016
In the past, leaders were valued for their
knowledge; in the future it will be their
ability to learn and share. We must lead
the Digital Industrial by building real-time
decision-making in our machine-to-
machine connectivity. GE leaders will
make decisions that are collaborative
and outcome-driven.
WHY NOT US?
The needle is moving. Our early FastWorks
projects were met with reluctance
because of our inherent culture to win the
first time. However, the results from these
projects were real and undeniable. This
new methodology infiltrated our culture,
and today’s GE is one where big swings
are encouraged, failures are celebrated
and a faster solution is reached.
We are re-inventing ourselves. Whether
we’ve been with GE for 30 years or
even one year, the Company we knew
yesterday will not be the Company
of tomorrow.
The question is, “Are we finished?” The
answer is no. A GREAT GE is a simple GE,
and we still have work to do.
We are committed to becoming the best
Digital Industrial company in the world.
Come visit us and you can feel the change
across the Company. GE employees are
seeing the opportunities that are out there
for grabs, and more and more of them
are asking, “Why not us?” At stake is
the digital transformation of industry,
and the winners will win big as this
transformation occurs. So, why not us?
GE 2015 ANNUAL REPORT 25