Can we move away from this obsession with short-term forecasting? How exactly does GE expect to make any progress if most of the decisions are based on three-months intervals? It's affecting the entire company, from employees to our customers. This company desperately needs a proper vision and people who will not be afraid to implement in, even if it takes a while to get there. It doesn't take a genius to see that current system is not working, so what do we have to lose?
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This is what happens when your primary business objective is to appease shareholders who have no idea how your business should be run.
Interesting article on HBR suggesting that Trian's pressure is behind the broader move toward short-term boosts to the stock price at the expense of longer-term innovation/R&D:
https://hbr.org/2017/10/why-ges-jeff-immelt-lost-his-job-disruption-and-activist-investors?utm_campaign=hbr&utm_source=linkedin&utm_medium=social
Which business is only forecasting 3 months out? We still receive 2 year forecasts.
Because everyone is afraid of making the wrong decision! I think that Flannery should stop playing grab a$$ and pull the trigger on GE power problems and layoff 50% or more across the board.
Can’t say I’ve witnessed a full cycle PO in my tenure at GE. Everything is last minute.
GE has always been reactive. Rare for anything to be original save the products from the old days. Now purchase a company to capture (and then destroy) market share. Processes ... copy Six Sigma and beat it to death, follow on to the internet (hated by Welch) and digital... all after many other companies lead the way
Management doesn't know what they will do each day as they drive in to work. They react to things. Reactive Management is the GE way.
I agree totally. I'm in sales, and the drama created by mgmt at the end of the quarter is counterproductive.