本篇paper代写- Industrial and financial integration of GE讨论了GE的产融结合。产融结合是指产业资本与金融资本相互渗透融合,金融资本以金融产品、金融信息、金融服务立体作用于产业的运作,成为产业资本增值与扩张的助推器,而产业资本则成为金融资本发展的源泉与依托。美国的GE,就是部分资本由实体产业转到金融机构,形成了强大的金融核心。其产业与金融结合的发展模式不仅为其利益相关者创造了最大价值,而且也为各国企业提供了一个成功典范。本篇paper代写由51due代写平台整理,供大家参考阅读。
The combination of industry and finance refers to the mutual penetration and integration of industrial capital and financial capital. Financial capital ACTS on the operation of the industry through financial products, financial information and financial services, and becomes the booster for the appreciation and expansion of industrial capital, while industrial capital becomes the source and support for the development of financial capital.
From the perspective of the world, the combination of industry and finance can be roughly divided into two forms: "from industry to finance" and "from finance to production". The former is to transfer some capital from the real industry to financial institutions to form a strong financial core. For example, many large manufacturing enterprise groups such as GE and Boeing in the United States are in this form. The latter is the financial capital to consciously control the industrial capital, for example, Morgan, Rockefeller and others are the typical from finance to industry. Morgan, which started as an investment and credit business and expanded into steel, railroads and utilities in the early 20th century, at its peak was able to control the nation's economic lifeblood.
GE is a global leader in the digital industry, offering a wide range of services including transportation, energy, healthcare and finance. GE used to be recognized as the company with the best combination of industry and finance. Its development model of integrating industry and finance not only created the greatest value for its stakeholders, but also provided a successful example for enterprises in various countries to "integrate from production to finance".
GE capital is an independent, professionally run financial services company within the GE group, focused on serving customers and markets suited to GE's industrial business. GE capital's business model is closely related to the industrial background of the group. Providing comprehensive financial support for the group's industry is the core goal of GE capital. Over the years, its business structure has been adjusted along with the adjustment of GE's main business. It provides a wide range of financial services, including financing, leasing, equipment management and consumer services, for all the upstream and downstream industries of GE. It is highly coordinated with the industry and contributes more than 30% of GE's profits every year.
In the wake of the 2008 financial crisis, GE capital's profitability was eroded by tougher regulatory standards. In April 2015, GE announced that it would spin off most of its $363 billion GE Capital finance business, leaving only its high-end manufacturing related finance business and focusing more on its integration with GE's main business. GE Capital's commercial real estate and related lending businesses were divested, while aviation financial services, energy financial services and healthcare services were retained. After the separation of commercial real estate and related loan businesses, GE Capital and GE group's industrial and financial integration has become more and more concentrated and focused, gradually drawing closer to "industrial chain finance".
In aviation finance services, GE Capital provides leasing, credit, trading, consulting and other related services. GE Capital can provide both operational and financial leasing services for business jet, aircraft engine and helicopter customers. Provide a variety of loan options for aircraft, aircraft engines and parts; Provide various management solutions for commercial aircraft and engines, as well as airport solutions and route planning solutions.
Energy financing and investment services cover renewable energy, renewable energy, oil and gas reserves and oil and gas infrastructure; GE Capital provides leasing financing for various equipment in the energy industry, provides debt financing solutions for energy customers, and can participate in the financing of energy companies through project equity and private equity.
GE Capital started with consumer credit, helped promote the group's products, and developed to provide various financial services to the group's stakeholders. GE successfully mastered the combination of industry and finance. However, after the financial crisis, GE decided to sell some of its financial businesses. In the future, GE Capital will focus on financial businesses such as aviation finance, energy finance and medical equipment, closely centering on GE's main business and related industrial chain, which reflects GE's determination to return to manufacturing. GE's move from being a pacesetter in the integration of industry and finance to divesting financial assets has provided new inspirations for some Chinese enterprises that are actively expanding their financial business and seeking to combine industry and finance.
First, the combination of industry and finance must take "production" as the core, and the strategic positioning of the group's financial department is to support the development of the group's industry. China's original intention to promote the integration of industry and finance is also to promote the deepening of industrial chain integration and more efficient resource allocation. Therefore, the financial business of enterprise group should be based on the main business and real economy of service group. After obtaining the financial license, some enterprise groups are keen to develop financial business apart from the demand of the main business, which shows a trend of de-substantiation and de-substantiation. Drawing on the experience of GE group in the United States, an enterprise group should make clear its development strategy and planning, fully consider its own industry characteristics and the personalized needs of its real business for finance, take industrial development as the basis, and promote the combination of industry and finance with the support of real demand. Cofco beneficial attempt in this aspect, the use of gold control platform, cofco capital, to carry out the agricultural capital loans, agricultural machinery leasing, futures hedging, the food bank, such as business, the group's professional company order agriculture, reservoir generation to provide comprehensive financial services such as baking, farming and animal husbandry production, effectively promote the development of the business.
The combination of industry and finance is a "double-edged sword", which not only improves the comprehensive competitiveness of enterprises, but also contains risks. The financial industry is a highly leveraged industry, which can rapidly expand the scale of enterprises. At the same time, the characteristics of high leverage magnify the benefits as well as the risks, which will be transmitted between industry and finance. After the financial crisis, GE's financial capital expansion based on low cost and high leverage suffered a setback. GE had shed some financial business, to return to industrial nature, releasing "Internet industry" strategy, advantages and information technology, the traditional manufacturing industry in the era of big data subverts the traditional industrial development, GE a place quickly, GE's ability to grasp the time important opportunities to Chinese enterprises to learn and think.
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