INSIDE GE: FastWorks

November 2016

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2016

WE ARE GEWe are the world’s premier digital industrial company. We transform industry by connecting people, data and machines. Living in perpetual motion, we are sensing, predicting and responding to make the world work better.

2Lean Startup 2016 ©2016GeneralElectricCompanyConfidential. Not to be copied, distributed, or reproduced without prior approval.

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…GE worked with Snapchat as they covered the best of the expedition.

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WE ALL FACE NEW CHALLENGES

Volatile, uncertain, complex, & ambiguous (vuca) world.

New business models are emerging.

Technology & market changes are increasingly disruptive.

Need to be simpler & faster.

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FastWorks

•Entrepreneurial, curious, & collaborative mindset •Smarter, simpler, customer-need driven• Increased speed to learning •Customer-validated decisions  iterate or stop•Seed funding model, test & learn Combining the speed and

agility OF A STARTUP

with the scale and resources OF GELean Startup 2016 ©2016GeneralElectricCompanyConfidential. Not to be copied, distributed, or reproduced without prior

approval.

OUR JOURNEY

FastWorks 1.0: Framework for NPI & Process Improvement

FastWorks 2.0: Resource / funding allocation

FastWorks 3.0: Executed broad cultural change

FastWorks 4.0: Growth Mindset

2012/3

2014

2015

2016

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FastWorks 1.0: Framework

• Opportunities/ true customer need

• Retires risk early

• Rapid experimentation

• Smarter questions & increased collaboration

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FastWorks 2.0: Installed Growth Boards

Optimize funding & resource allocation

Large volume of small bets

Commercialization & business model innovation

Customer obsession

Portfolio driven approach

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FastWorks 3.0: Culture Change

GE BeliefsExpectations

Behaviors

FastWorksMindset

Mechanics

Performance DevelopmentAccountability

BETTERCUSTOMER OUTCOMES,

FASTER

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FastWorks 4.0: New Mindset & Behaviors

11

CULTURE LEADERSHIP WORK

The Challenge of New Growth

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12

NewGrowthMindset

BE AN OPERATOR & VC

END SUCCESSTHEATRE

END THE ADDICTIONTO BEING RIGHT

NET NEWLEARNING…EXPIRE DATA

FROM TAM TO TAN/TAP

THINK OUTSIDE IN

CUSTOMER = ULTIMATE TRUTH

EMBRACE RISK /PRODUCTIVE FAILURE

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FastWorks: Approach to Scale

Partner &

Discover

Execute & Learn

Teach & Coach

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CASE STUDY: Sustainable Healthcare Solutions

What’s Different?

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+80% Revenue in 3 YRS

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TRADITIONAL APPROACH

Existing sophisticated product

Product enhancements

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Instead of starting with this….

NEW APPROACH

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A blank sheet of paper &

set of questions

Customer Discovery & Validation

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And we came up with this…

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FUSE

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MANUFACTURING. CROWD-POWERED.

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