GE 2003 Annual Report Download

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Five questions,Five answe≥s,
One growth st≥ategy
g≥owing ge

Table of contents

  • Page 1
    Five questions, Five answe≥s, One growth st≥ategy g≥owing ge

  • Page 2
    ... threat ? the one In 2003, GE introduced dozens of new products for industries and consumers, using advanced materials and designs to deliver unprecedented levels of performance. But that was last year. Without new technical breakthroughs, a company's products can become mere commodities subject...

  • Page 3
    ... fuel - oil, natural gas, hydrogen, wind, sun - through the use of advanced materials, designs and processes in all of its products. fuel cell GE researchers are developing solid-oxide fuel cells that are big enough to power neighborhoods and reduce greenhouse gas emissions. In 2003, they developed...

  • Page 4
    ...paradigm from after-the-fact treatment to before-onset care. The pending combination of Amersham plc with GE Healthcare will create a medical equipment, diagnostics, biopharmaceutical and informatics company uniquely suited for this new era of medicine. t≥eat Molecular imaging can help physicians...

  • Page 5
    ...-efficiency jet engines and energy systems. GE's Global Research scientists filed 28 nanotechnology-related patent applications in 2003, exploring ways to bring lab discoveries to commercial use. nano fo≥ t≥anspo≥tation GE Transportation is pursuing ways to use high-temperature and high...

  • Page 6
    ...than 100,000 long-lived devices providing power, ï¬,ight, locomotion and medical images around the world, GE takes "maintenance" beyond the tune-up to the core technology upgrade and the sharing of best practices, all with the goal of making customers more profitable. ge 2003 annual ≥epo≥t 17

  • Page 7
    .... GE is installing next-generation aero-compressor technology in 300 of Southwest's engines to further extend the time between overhauls, improve fuel consumption and reduce noise - all of which can lower Southwest's costs and keep them moving people about the country. 18 ge 2003 annual ≥epo...

  • Page 8
    ...'s experience serving 100 million credit card customers enables ASDA to cost-effectively build value propositions tailored to the individual interests of consumers, deepening loyalties and driving future business while better managing costs and keeping prices lower. ge 2003 annual ≥epo≥t 19

  • Page 9
    Keep my working capital working 20 ge 2003 annual ≥epo≥t

  • Page 10
    ...po≥ation Xerox partners with GE Commercial Finance to manage customer financing activities so the world's largest document company can focus on doing what it does best: helping customers use Xerox systems and services to transform their operations and increase productivity. ge 2003 annual ≥epo...

  • Page 11
    ... 1,000 freight trains over 21,500 miles of track so they deliver their customers' freight to the appointed places at the committed times. With Precision Dispatch System, Norfolk Southern aims to improve on-time performance and run more trains without adding new track. 22 ge 2003 annual ≥epo≥t

  • Page 12
    ...businesses, GE can offer multifaceted solutions. Customers such as New York-Presbyterian Hospital (portrayed here), which signed a multiyear agreement with GE in 2003 for imaging technology and management training, are transforming their transactions with GE into partnerships. ge 2003 annual ≥epo...

  • Page 13
    ... York-Presbyterian with the foremost in medical imaging technology, including advanced CT (computed tomography), PET (positron emission tomography), MR (magnetic resonance) and ultrasound equipment. in admissions GE Healthcare's information technology unit is tackling the paper problem at hospitals...

  • Page 14
    in the ope≥ating ≥oom GE provides anesthesia delivery systems, integrated monitoring that gives surgeons enhanced feedback from multiple functions (brain, lung, circulation, cardiac) simultaneously, and GE's new InstaTrak® surgical navigation system, which enables surgeons to visualize the ...

  • Page 15
    ...of GE Commercial Finance can provide hospitals with financing that helps them manage risk and strengthen their balance sheets. GE can also provide a variety of basic facilities needs: real estate, security systems, water processing, electrical circuits and even lighting fixtures. 26 ge 2003 annual...

  • Page 16
    ...products and services but also developing local capabilities in those new markets. By operating as one global team, GE businesses serve customers throughout the world, stimulating economic growth and creating high-value, high-tech jobs in the U.S. and around the world. GLOBALIZATION ge 2003 annual...

  • Page 17
    ... starts at home. evendale, ohio zolita ma≥tin, teri lovelass (seated) and c≥aig me≥≥ill ge t≥anspo≥tation, ai≥craft engines Bets on aircraft engine technology must be made up to 10 years before they result in a sale. Investments in regional jet engine technology that GE began making...

  • Page 18
    ..., opening a new technology center in Shanghai to work with customers and offering training for Chinese executives in GE management processes. ACAC and GE see a potential market for 500 ARJ-21s over the next 20 years, representing a potential value to GE of $3 billion. ge 2003 annual ≥epo≥t 29

  • Page 19
    ... GE build a $28 billion backlog in multiyear agreements for the servicing of aircraft engines. At Prestwick, more than 750 technicians disassemble, inspect, repair, reassemble and test more than 250 jet engines each year from airlines based in Europe, Africa and Central Asia. 30 ge 2003 annual...

  • Page 20
    ... opportunities created by changes in technology and the economy. Today GE is building new platforms in industries and markets with above-GDP growth that provide opportunities to apply GE technology and management expertise to accelerate that growth. GROWTH a≥e you ge 2003 annual ≥epo≥t 31

  • Page 21
    ... in early 2002. GE's process of reshaping new businesses, identifying adjacent markets and adding imaging technology from other GE businesses helped Security fast-track technologies like trace material detection and VideoIQâ„¢ . Security achieved $900 million of revenues in 2003 and expects annual...

  • Page 22
    ...-growth segments of exploration and production, transportation and processing; create new technology such as advanced turbomachinery and compressors for transporting liquid natural gas; build a strong value-added service platform including pipeline inspection; expand globally, with operations in 42...

  • Page 23
    ... Lighting and Global Research." john k≥enicki Advanced Materials "We've shared our imaging technologies with Transportation, Energy and Water Technologies, and we've found some terrific management ideas, like Transportation's lean manufacturing process. It's a great give-and-take process." joe...

  • Page 24
    ... well suited for a long-cycle business like ours." "We're putting sensor technology developed for medical devices, aircraft engines and electrical systems into refrigerators, ranges and other home products to give consumers superior control." dave calhoun Transportation "As a centralized research...

  • Page 25
    ... Management Development and Compensation Committee, composed entirely of independent directors, reviewed in nine meetings all executive compensation plans, policies and practices, changes in executive assignments and responsibilities, and key succession plans. The Public Responsibilities Committee...

  • Page 26
    ...Company, and Chairman and Chief Executive Officer, National Broadcasting Company, Inc. Director since 2000. 1 Audit Committee 2 Management Development and Compensation Committee 3 Nominating and Corporate Governance Committee 4 Public Responsibilities Committee 5 Presiding Director ge 2003 annual...

  • Page 27
    ... good company citizenship Being a good citizen has always been an important part of our corporate history and how we run your company. Today, citizenship means environmental compliance, leadership in corporate governance, the very highest of ethical standards and strong community engagement. GE has...