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General Electric

Definition

General Electric (GE) is an American multinational conglomerate incorporated in New York City and headquartered in Boston. As one of the largest firms globally, GE operates across many industries including aviation, healthcare, power generation, renewable energy, digital industry, additive manufacturing and venture capital and finance.

Analogy

Consider General Electric as if it were Walmart Supercenter for industrial products. Just as Walmart offers everything from groceries to clothing to electronics under one roof, GE provides diverse services ranging from aviation to healthcare all under one corporate umbrella.

Related terms

Multinational Corporation: These are large corporations incorporated in one country which produce or deliver services in various countries. GE falls into this category due to its global operations.

Conglomerate: This refers to a corporation made up of several different companies dealing in varied businesses; each considered separate profit centers. GE is a perfect example of a conglomerate.

Thomas Edison: He was an American inventor and businessman who has been described as America's greatest inventor. He developed many devices in fields such as electric power generation, mass communication, sound recording, and motion pictures. Thomas Edison is one of the founders of General Electric.