Strategic Agility and Organizational Performance of Multinational Companies Post Covid-19 Pandemic: Case of General Electric

Abstract

Amidst the global upheaval caused by the COVID-19 pandemic, strategic agility emerged as a decisive factor shaping organizational performance. The pandemic laid bare vulnerabilities in conventional business models, underscoring the imperative for companies to swiftly adapt to unforeseen challenges. Operating across diverse sectors such as aviation, healthcare, power, and renewable energy, General Electric found itself navigating a swiftly changing landscape, compelled to address the distinctive challenges posed by the pandemic. This study delves into the post-COVID-19 performance of GE in Kenya, serving as a compelling case study illustrating how multinational corporations can adeptly respond to disruptive events, fortifying their organizational performance. The study, adopting a case study research design, focused on GE's performance after the COVID-19 pandemic. Data collection involved interviews with three departmental heads from GE business lines, with subsequent analysis utilizing content analysis techniques. The study unveiled a robust and positive correlation between General Electric's (GE) strategic agility measures, dynamic resource allocation, supply chain resilience, digital transformation and innovation, and customer satisfaction and engagement and key performance indicators. Notably, GE's adept dynamic resource allocation facilitated resilience in manufacturing, finance, and employee management, contributing to a $2.4 billion increase in total revenues and impressive operational efficiency. Supply chain resilience measures, including diversification and technology investments, significantly improved GE's overall resilience and contributed to positive financial indicators. The strategic thrust into digital transformation and innovation resulted in substantial growth, with double-digit increases in orders and revenue across GE's diverse business lines. Prioritizing customer satisfaction and engagement, coupled with a customer-centric approach and data-driven strategies, also exhibited a strong positive correlation with organizational performance. In conclusion, GE's strategic agility, as reflected in these key variables, played a pivotal role in the company's successful navigation of the post-pandemic landscape, showcasing the universal efficacy of agility strategies in diverse industries and contexts. Based on the study findings, policymakers were recommended to emphasize the integration of strategic agility measures, including dynamic resource allocation, supply chain resilience, digital transformation, and customer-centric approaches, into regulatory frameworks to enhance organizational resilience and performance during disruptive events. Practitioners were encouraged to adopt a holistic approach to strategic agility, incorporating dynamic resource allocation, resilient supply chain practices, digital transformation, and customer engagement strategies. This can enable organizations to navigate challenges effectively and sustain positive performance outcomes in the ever-evolving business landscape.