Strategic Analysis of GE Healthcare: Resources and Value Systems

This report provides a comprehensive strategic analysis of GE Healthcare, examining its business structure, corporate performance, and resource allocation. The analysis delves into GE Healthcare's strategic position, evaluating its headquarters relocation, operational functions, and contribution to the parent company, General Electric. It assesses the company's financial performance, including revenue generation, asset worth, and contributions to the overall GE portfolio. The report further explores GE Healthcare's resources and value systems, including its 'healthymagination' vision, resource endowment, core competencies, and value chain analysis. It also examines the company's product/service portfolio, including diagnostic imaging, IT solutions, and life sciences, evaluating their revenue contributions and employing the BCG matrix for portfolio management. Finally, the report evaluates GE Healthcare's potential for future strategic growth, focusing on the general healthcare industry, research and innovation, expansion into emerging markets, and sales growth through diagnostic and clinical equipment. The report concludes with recommendations based on the analysis.

Running head: STRATEGIC ANALYSIS; TOOLS & TECHNIQUES
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Strategic Analysis; Tools & Techniques
Institution
Student
Date

STRATEGIC ANALYSIS; TOOLS & TECHNIQUES 2
Table of Contents
Introduction......................................................................................................................................3
GE Healthcare Strategic Position....................................................................................................3
GE Healthcare business structure................................................................................................3
GE Healthcare corporate performance.........................................................................................4
GE Healthcare Total asset worth.................................................................................................6
An evaluation of GE Healthcare Resources and Value Systems.....................................................7
General Electric Healthcare Resource analysis...........................................................................7
GE Healthcare core competences and capabilities- A value chain analysis................................8
Value creation and sustenance of global presence.......................................................................8
Promoting learning and research for growth and expansion........................................................9
Sustaining global presence and managing relations..................................................................10
Product differentiation and cost efficiencies..............................................................................10
Evaluation of GE Healthcare Product/Service Portfolio...............................................................11
Evaluation of GE Healthcare potential future strategic growth.....................................................15
Focus on general healthcare industry.........................................................................................15
Research and innovation to enhance growth in GE Healthcare.................................................16
Enhancing presence in emerging markets..................................................................................17
Hastening sales growth through Diagnostic $ Clinical Equipment...........................................18
Conclusion and Recommendations................................................................................................18
References......................................................................................................................................20

STRATEGIC ANALYSIS; TOOLS & TECHNIQUES 3
Strategic Analysis; Tools & Techniques
Introduction
The primary aim of this paper is to present a current strategic analysis of GE Healthcare. It will
analyze various pertinent topics but mainly it will evaluate:
 GE Healthcare Strategic Position
 GE Healthcare Resources and Value Systems
 GE Healthcare Product/ Service Portfolio
 GE Healthcare Future Strategic Growth
GE Healthcare Strategic Position
GE Healthcare business structure
Due to various reasons, in 2016, GE Healthcare relocated its headquarters from UK to Chicago
(Hodsden, 2016). These headquarters carry out eight core functions namely sales, design,
manufacturing, finance, X-ray marketing and distribution, cooperate affairs, and global
acquisition. GE Healthcare has a business structure that supports the immense transitional
changes which are taking place not just in this segment but also in the GE Company as a whole.
This structure defines the configuration and composition of components such as interactions and
interconnections among departments and offices (GE Healthcare, 2019). GE Healthcare’s
business structure has evolved to enable support for diverse operations that are conducted by this
SBU.

STRATEGIC ANALYSIS; TOOLS & TECHNIQUES 4
GE Healthcare corporate performance
GE Healthcare is among the eight Strategic Business Units (SBUs) or Segments of General
Electric Company. Others include venture capital and finance, lighting, oil and gas, digital
industry, additive manufacturing, aviation, healthcare, and power renewable energy (Reuters,
2019). GE Healthcare has employed more than 50,000 employees (Wilen, 2018). It operates in
over 100 countries and in these places, so many stakeholders such as healthcare professionals
and patients benefit from it (PharmaBoardroom, 2018). As of 2018, GE Healthcare contributed
around $ 19.78 billion occupying position three in revenue generation among the eight SBUs.

STRATEGIC ANALYSIS; TOOLS & TECHNIQUES 5
Source: Statista, 2019, General Electric: revenue by segment 2018. Retrieved from:
https://www.statista.com/statistics/245430/revenue-of-general-electric-by-segment/
Since 1978 to 2018, GE Healthcare has had a steadily rise in levels of revenue. This is shown in
the graph below:
Statista, 2019. General Electric profits in the Healthcare segment 1997-2018. Retrieved from:
https://www.statista.com/statistics/263830/profit-for-general-electric-healthcare-segment-since-
1997/
GE Healthcare Unit is constantly putting in measures to ensure this trend continues for as long as
possible.

STRATEGIC ANALYSIS; TOOLS & TECHNIQUES 6
GE Healthcare Total asset worth
As at 2018, the assets worth of General Electric was approximated to amount to $309.13. Out of
this total, GE Healthcare Segment had contributed about $28.05.
Source: Statista, 2019. General Electric: total assets by segment 2018. Retrieved from:
https://www.statista.com/statistics/261524/total-assets-of-general-electric-by-region/

STRATEGIC ANALYSIS; TOOLS & TECHNIQUES 7
GE Healthcare’s contribution marked 9.07% of the total assets and ranked fifth among the GE’s
SBUs.
An evaluation of GE Healthcare Resources and Value Systems
During the leadership of Jeff Immelt in 2009, GE Healthcare started implementing
“healthymagination” vision for the future. The main purpose of healthymagination was to lessen
costs, enhance access, and improve efficiency and quality globally ( General Electric, 2009).
This section conducts a strategic analysis assessment of GE Healthcare’s capabilities and internal
resources based on its present and future competitiveness.
General Electric Healthcare Resource analysis
GE Healthcare resource endowment is far-reaching and it offers the company a robust
competitive edge in the industry. Owing to the Unit’s strong base of physical and financial
resources, this company realizes superior revenues in every fiscal year (Generic Electronic,
2018). This firm also has a splendid credit rating due to its sufficient turnover that enables it to
acquire credit at friendly interest rates to finance its operations. GE Healthcare acquires superior
earnings from its business activities and therefore, it has a reputable global presence and on
yearly basis, it invests adequately in Research & Development projects. The company has as
well invested handsomely in high-tech and adaptability and as such, it has effective and efficient
supply chain systems across the world (General Electric, 2017). As a result of its incomparable
status, GE Healthcare attracts exceptionally qualified personnel that the HR department works
tirelessly to retain for a long time.

STRATEGIC ANALYSIS; TOOLS & TECHNIQUES 8
GE Healthcare core competences and capabilities- A value chain analysis
Due to its incredible resource configuration, GE Healthcare has over the years gained a wide
array of competitive advantage prospective. In its endeavor to retain its competitive edge in the
industry, this company has attempted to distinguish its core capabilities (capacities) or
competencies (GE Healthcare, 2016). The firm has actually attained this particular goal by
sustaining its global presence successfully, differentiating its products, promoting learning and
research for growth and expansion, creating value, attaining cost efficiencies, and managing
relations.
Value creation and sustenance of global presence
GE Healthcare has for the last decades been able to improve its supply chain systems. This
success can be attributed to its capacity to purchase large quantities of raw materials and finished
commodities (General Electric Company, 2019). Owing to its tremendous success, GE
Healthcare has effectively concentrated on enhancing its key competences and strengths by
leveraging other none-core activities by outsourcing possibilities. In order to support this
strategy, this firm takes elementary manufacturing as a none-core value creating activity.
Nonetheless, it is worth highlighting that though it does not consider elementary manufacturing
as a core capability, GE Healthcare maintains a solitary assembly and manufacturing role for its
proprietary commodities since it consults its high-tech personnel and other relevant experts in the
research and innovation organizational unit (General Electric, 2018). In so doing, the company is
enabled to safeguard its capabilities that are likely to enhance its competitive edge in the future.

STRATEGIC ANALYSIS; TOOLS & TECHNIQUES 9
Promoting learning and research for growth and expansion
GE Healthcare endeavors to execute a strong learning and knowledge management process
(General Electric Company , 2019). As it tries to attain this objective, this firm assumes an active
methodology to react to global business shifts. Its great urge for continuous growth and
development, GE Healthcare has emerged an epicenter for learning and special knowledge
acquisition. Every departmental unit has streamlined itself towards achieving this goal of
experimenting new ideas and constantly branding employees with novel knowledge and skills.
This can be attributed to the company’s outstanding performance for many years. In its dire need
to meet future growth prospects, GE Healthcare has put in place strategic learning measures all
of which are focused on growth and expansion. This Unit is also renowned for its ability to
attract and retain an exceptionally qualified and experienced labor pool that uses its unique
talents in sailing the entire firm to the right directions ( Generic Electric, 2019). What is more,
the parent organization is also contributing immensely in innovation and learning, something that
has enhanced GE Healthcare’s learning strategies.
Owing to its reputable success, GE Healthcare has the capacity to re-design itself and become
accustomed to various multifaceted changes in business requirements. Consequently, it has set in
new measures to for R&D in order to experience further growth and development. GE
Healthcare successfully conducts R&D projects by harnessing all available resources which can
facilitate them. Through its research investments, management in this firm has been able to
resolve quite a number of challenges which might hamper its future growth and expansion.

STRATEGIC ANALYSIS; TOOLS & TECHNIQUES 10
Sustaining global presence and managing relations
GE Healthcare greatly values its competitiveness and as a result, it works hard to maintain a
reputable global image and manage business relations with other players in the sector (General
Electric Company, 2018). In view of this, the company has laid ample emphasize on splendid
supplier and customer relationships as one ways of creating value. GE Healthcare technology,
human resources, and infrastructure are modified to contribute to incomparable marketing, sales,
and superior service delivery. All products are properly customized and evaluated to make sure
that they fulfill customer needs and requirements. This Unit has a global network with numerous
manufacturing plants located outside the UK and US. This network has provided the company
with a wide customer base, broader marketing scope, wide market coverage, unbeatable brand,
production and IT divisions (Rice, 2017). This aspect must be playing a vital role in the success
of GE Healthcare. In addition, all critical decisions on subcontracting and procurement are made
head office divisions. In this Unit, there are also well-strategized operational systems that allow
smooth flow of knowledge within the conglomerate.
Product differentiation and cost efficiencies
The parent organization and its conglomerate, GE Healthcare, have invested substantially in
product differentiation as a strategic approach of acquiring cost efficiencies (Thompson, 2017).
The firm is renowned for its ability to provide topnotch and high quality products that are well
customized and diversified. Further, it is among the units that have achieved optimal product
differentiation and as a result, reaffirming their competitiveness in their respective sectors.
Effective knowledge management abilities coupled with significant domestic and global
relationships have contributed to GE Healthcare’s cost efficiencies ( General Electric Company,

STRATEGIC ANALYSIS; TOOLS & TECHNIQUES 11
2012). Due to this ability, this company has been able to compete favorably with its key
competitors such as German-based Siemens. Furthermore, in its quest to attain cost
competitiveness, GE Healthcare has strategically transferred some of its operations into low cost
countries and also intensified its connections with low cost dependable suppliers. Due to its wide
network and cost effectiveness, GE Healthcare has benefited from economies of scale, further
homogenizing its components by reorganizing its supply chain systems (Jack, 2011).
Evaluation of GE Healthcare Product/Service Portfolio
In contemporary world of healthcare, technology has revolutionized all medical operations thus
simplifying functions of health practitioners. GE Healthcare just like a majority of healthcare
conglomerates has a groundbreaking technological advancement that is a pillar to its sustained
growth and development. The company’s broad portfolio consists of life sciences, medical
diagnostics, information technology, and other medical services and solutions (General Electric
Company, 2018). GE Healthcare manufactures medical diagnostic equipment. It also provides
dyes which are used in magnetic-resonance-imaging processes. Additionally, it develops Health
technology for medical imaging and information technologies, biopharmaceutical manufacturing,
drug discovery, patient monitoring systems, medical diagnostics, and disease research.
Diagnostic imaging & services include Magnetic Resonance, Computed Tomography, Molecular
Imaging, and Service & Solutions. Mobile diagnostics & Monitoring services include
Ultrasound, Clinical Solutions, Monitoring, and Mobile Health. IT & digital solutions services
provide in GE Healthcare include Enterprise Imaging, Financial Management, Care Area
Workflows, and GE Health Cloud TM. (General Electric Company, 2018) Life Sciences include

STRATEGIC ANALYSIS; TOOLS & TECHNIQUES 12
activities such as Bio process, Protein & Cell Sciences, Contrast Media & Nuclear Tracers and
Cellular Therapy.
In GE Healthcare’s service/product Portfolio, different services and products generate different
levels of income for the company as shown in the figure below:
Source: GE Healthcare. (2010) GE Healthcare

STRATEGIC ANALYSIS; TOOLS & TECHNIQUES 13
Healthymagination Investor Update: retrieved from:
https://www.ge.com/pdf/investors/events/11092010/ge_healthcare_analyst_meeting_presentation
_11092010.pdf
Referring to the above table, it is evident that Diagnostic $ Clinical Equipment generated the
largest amount of revenue by contributing 45% of the company’s net income. Service &
Solutions followed contribution margin of with a roughly 27%. Life Sciences and Medical
Diagnostics each had a contribution of 10% of revenue. Information Technology on the other
hand contributed 8% of the total revenue.
There are various techniques at the disposal of GE Healthcare which can be used to manage the
above service/product portfolio. One among such techniques is the BCG Matrix that was
developed by The Boston Consulting Group. BCG Matrix shows four quadrants which
distinguish high and low marketplaces and product or service’s position in those markets. In this
BCG Matrix, GE Healthcare products/services can be grouped as "stars," "cash cows," "dogs,"
and "question marks."

STRATEGIC ANALYSIS; TOOLS & TECHNIQUES 14
Source: smartsheet. 2019. The Definitive Guide to Product Portfolio Management. Retrieved
from: https://www.smartsheet.com/definitive-guide-to-product-portfolio-management
Cash cows: These are units with a high market share. Cash cows normally generate revenue in
excess of the amount of income needed to maintain the business. In GE Healthcare, cash cows
are the product/services that fall under Diagnostic $ Clinical Equipment since they provide the
largest percentage of income. These services are milked continuously since they make up the
bulk of profitability for the company.
Stars: These are units with high market share in a rapidly growing sector. Stars are hoped to
become the next cash cows if they sustain their category leadership or they shift from brief
stardom to dogdom. Service & Solutions represent the stars in GE Healthcare since they also
generate substantially large amount of cash.

STRATEGIC ANALYSIS; TOOLS & TECHNIQUES 15
Dogs: These are products/services that have a low market share and low growth. These units
hardly generate enough cash to maintain the company market share though they provide other
benefits such as providing job opportunities and prospective synergies that help other units of the
firm. In GE Healthcare, Dogs are Life Sciences and Medical Diagnostics services. The firm
should avoid or minimize the number of these dogs.
Question Marks: These products/services that are rapidly growing and use huge amounts of
revenue. Since question marks have little market shares, they seldom generate cash and if they
do, very little. In GE Healthcare Information Technology services are the question marks that
have the potential to acquire market share and become stars and ultimately cash cows. If GE
Healthcare does nothing to change the market share, these question marks will just absorb large
amounts of cash and as growth stops become dogs.
Evaluation of GE Healthcare potential future strategic growth
At January 24th 2018, there was a remarkable performance in GE Healthcare where revenue for
this unit grew by 5% to $19.1 billion in 2017 from $18.3 billion in 2016. Last year, the Unit also
grew its profitability by 9% to $3.44 billion compared with $3.16 billion in 2016 financial year
(AuntMinnie.com staff writers, 2018). It is anticipated that this growth will keep on increasing in
the foreseeable future of the company. The primary aim of this section is to conduct a detailed
analysis and assessment of GE Healthcare future strategic growth options.
Focus on general healthcare industry
Since time immemorial, the Healthcare Equipment industry has marked substantial growth in
various financial parameters. This trend is expected to continue due to the ever-increasing

STRATEGIC ANALYSIS; TOOLS & TECHNIQUES 16
demand and need for healthcare services in both developing and developed countries across the
world. In the US, the federal government has invested immensely in healthcare particularly for
the Aging population of people aged 65 years and above (Schulz & Eden, 2016). Numerous
clinics and hospitals are being established all over the US making it a viable business hub for
leading players such as Intuitive Surgical, Siemens Healthcare, and GE Healthcare.
Research and innovation to enhance growth in GE Healthcare
General Electric occupies approximately 11% of the US healthcare market share (Nasdaq, 2016).
Great investment in R&D has supported GE Healthcare’s financial and revenues stability for the
past years. Since the firm is anticipated to intensify its focus on research and innovation, this GE
Unit will sustain its competitive edge in the industry. At General Electric, research and
development has been the keystone of innovation for the last decades. Today, this multinational
has around 36,000 technicians working across their subsidiaries and international research
centers at the intersection of industry and technology to resolve some of world’s toughest
challenges. Significant investment in research and innovation is tailored to improve cost
efficiencies processes and procedures with General Electric technologies and services (Generic
Electrics, 2019). It is also meant to increase clients’ access to service and technologies vital for
healthcare: reaching to around 100 million more people on yearly basis. This increase in
expenditure on R&D is also expected to enhance quality and effectiveness by around 15% for
clients by refining and simplifying healthcare standards and procedures.
Generally, the huge spending on research and development by GE Healthcare is meant to deliver
cost-effective technologies to aid the firm in acquiring wide customer base and customization of
products to ensure they are in line with customer needs and requirements. As (Yusuf, et al.,

STRATEGIC ANALYSIS; TOOLS & TECHNIQUES 17
2010)say, Research and development (R&D) is an invaluable tool for developing and improving
a firm’s business activities and processes. Together with creating innovative and new product
lines and adding features to the existing ones, R&D enables GE Healthcare to connect with
different parts of the conglomerate’s business plan and strategy such as cost reduction and
marketing.
Enhancing presence in emerging markets
In order to further its revenue creation capability, GE Healthcare has extended its footprint in
developing markets which have permitted the company to take advantage of the mounting
healthcare spending from these places, especially in Latin America and in Asia-Pacific. As
mentioned earlier, this GE Unit has substantially invested in research and innovation and this has
enabled it to extend its operations in developing markets thus retaining its competitive
advantage. Simultaneously, stimulated by paybacks from cost diminution activities such as
headcount diminution and exit from low-margin products/services, GE has grew its healthcare
unit margins by nearly 16.7% and the firm expects this margin to grow further in the coming
financial years. Besides, the simplification initiatives developed also by the parent firm across all
segments will as well expand the healthcare margin further. For example, under these initiatives,
the layering of administration structure in Europe and the decrease in the number of zones in
America has led to further expansion of the margin. In the view of this paper, in the coming
fiscal years, alongside aviation and oil & gas, healthcare unit will probably also play a vital role
in stimulating growth at the entire General Electric firm. On average, this unit constitutes about
20% of the GE’s net profits every year (Team, 2014).

STRATEGIC ANALYSIS; TOOLS & TECHNIQUES 18
Hastening sales growth through Diagnostic $ Clinical Equipment
In an analysis conducted beforehand, it was noted that Diagnostic $ Clinical Equipment
contributes the biggest revenue for GE Healthcare. Currently, it is the cash cow here generating
nearly 45% of the total revenue per annum. This GE’s broad healthcare solution aims to advance
all phases of patient care ranging from routine testing to diagnostic imaging to life-critical care.
GE Healthcare can easily achieve sales through diversifying their Diagnostic $ Clinical
Equipment services. Apart from helping in increasing income, investing adequately in
Diagnostic $ Clinical Equipment will enable this GE Unit to expand its product portfolio and
sustain robust future income growth.
Conclusion and Recommendations
The main focus of this paper was to explore a strategic analysis of GE Healthcare Unit. In order
to achieve this objective, a number of academic materials have been comprehensively evaluated,
reviewed, and synthesized to source pertinent information and statistics regarding GE
Healthcare. In general, it is evident that this GE segment has a sound financial performance and
assets base and more strategic plans are being executed to ensure this trend lasts for the longest
time possible. This conglomerate has exceptional business capabilities which have given it a
competitive advantage against its competitors in the sector. Besides, this firm is renowned for its
abilities to create value, promote learning, conduct research and development initiatives, manage
relations with its stakeholders, sustain global presence, and efficient product differentiation. GE
Healthcare has significantly invested in various growth and development projects that will
guarantee present and future continuous success.

STRATEGIC ANALYSIS; TOOLS & TECHNIQUES 19
Despite the remarkable success in different financial parameters, there is still a room of further
development in other financial dimensions. The future success of this company lies at how
efficiently it opts to choose its business focus. It is vital to focus on a given market gap or niche.
Excessive differentiation and provision of a broad variety of products/services might be a step
forward now but in the days to come, become a reversal mechanism. Too much diversification
and differentiation can contribute to future loss of business focus. Some Asian and African
markets are still virgin to GE Healthcare Unit and there is need to identify them and exploit these
opportunities. It should establish its presence in these places and in so doing; they strengthen the
Segment’s brand identity.

STRATEGIC ANALYSIS; TOOLS & TECHNIQUES 20
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