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Common Sense Advisory Blogs
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GE Releases First Citizen Report, "Our Actions" Report Highlights GE's Performance Across
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This release hits the trifecta for globalization goodness. GE conducts business just about everywhere, has a respected brand wherever it goes, and has its practices and business model emulated by companies around the world. In the report, GE reports on its efforts and success in being a strong corporate citizen wherever it does business. Its practices and self-assessment both provide lessons for companies operating globally.
What factors did GE consider? Using the Global Reporting Initiative Sustainability Reporting Guidelines"(www.globalreporting.org), GE assessed its 3,000+ suppliers to ensure they complied with laws for a safe and healthy work environment, launched a program to increase environmentally and operationally beneficial products, and improved its safety record. Its good works in the developing world drive revenue, which increased 37% to US$21 billion. The company predicts that more 60% of its future revenue growth will come from emerging markets including China, Russia, Eastern Europe, India, and the Middle East. Repeat: 60% of GE's future revenue growth will come from markets that many companies currently ignore.
The report emphasizes a valuable best practice: "GE operates with the same environmental, health and safety and integrity standards in every country in which in conducts business." As we have observed in our research, consistency across global organizations, operations, and marketing efforts has big payback in terms of creating customer loyalty, lowering the cost of doing business, and improving global branding.
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Keywords: B2B and B2C global marketing |
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