One really important model used in the evaluation of a corporations portfolio of businesses is the BCG Matrix. Explain the BCG Matrix and apply it to the case below:

The Case

Executives in charge of firms involved in many different businesses must figure out how to manage such portfolios. General Electric (GE), for example, competed in a very wide variety of industries, including financial services, insurance, television, theme parks, electricity generation, lightbulbs, robotics, medical equipment, railroad locomotives, and aircraft jet engines. When leading a company such as GE, executives must decide which units to grow, which ones to shrink, and which ones to abandon. Portfolio planning can be a useful tool. Portfolio planning is a process that helps executives assess their firms prospects for success within each of its industries, offers suggestions about what to do within each industry, and provides ideas for how to allocate resources across industries.

Please answer in less than 400 words