JACK WELCH AND THE GE WAY part1

Jack Welch Source: https://www.foxbusiness.com/money/jack-welch-dead-former-ge-ceo

Jack Welch, is America’s most successful CEO, running the most valuable company in the United States, General Electric. For all that, his business philosophy is quite straightforward:
Business is simple.
Don’t make it overly complicated.
Face reality.
Don’t be afraid of change.
Fight bureaucracy.
Use the brains of your workers.
Discover who has the best ideas and put those ideas into practice.
And, always keep learning — from your staff, from your competitors, and your customers. Do that consistently, and you’ll be able to successfully position your company to take advantage of the great opportunities that will open in the future.

1. Act Like a Leader, Not a Manager
‘‘Find great ideas, exaggerate them, and spread them like hell around the business with the speed of light.’’
Main Idea
Expectedly, business supervisors thought their prime job was to regulate their workers. Jack Welch, on the other hand, thinks business pioneers, instead of business supervisors are required. A business chief is somebody who rouses colleagues with a dream of how to improve.
Supporting Ideas

Each GE employee conveys with them a qualities card that traces the key qualities GE represents. It peruses: GE Leaders…Always with Unyielding Integrity: – Have an enthusiasm for greatness and despise organization – Are available to thoughts from anyplace and resolved to turn out Live quality and drive cost and speed for the upper hand – Have the self-assurance to include everybody and carry on in a boundaryless design – Create an unmistakable, straightforward, reality-based vision and convey it to all voting public – Have colossal vitality and the capacity to empower others Stretch, set forceful objectives and prize advancement – yet get responsibility and duty

-See change as an opportunity, not a threat- Have global minds and construct different and worldwide groups. The qualities of good business pioneers are: 1. Pioneers rouse their colleagues along these lines urging them to perform today at a more significant level than they did yesterday. 2. Pioneers keep things basic by posing the correct inquiries concentrating on the key issues. At GE, Jack Welch asks those ranking directors that report legitimately to him: 1. Portray your severe worldwide condition. 2. What have your rivals done over the most recent three years? 3. In a similar period, what have you done to them? 4. In what manner may they assault you later on? 5. What are your arrangements to leapfrog them?

3. Leaders energize, excite, and control using the company’s values and cultures.
4. Leaders face reality and then act decisively.
5. Leaders are relentless and consistent, following through on everything they do meticulously.
6. Leaders love change and try to consciously change the competitive environment by focusing on quality and service.
7. Leaders deliver on their commitments.
8. Leaders talk with their co-workers face-to-face, rather than talking to one another or issuing memos.
9. Leaders harp on about a few key themes every time they meet with co-workers. They repeat the same message over and over.

Key Thoughts
‘‘What sets GE apart is a culture that uses this wide diversity as a limitless source of learning opportunities, a storehouse of ideas whose breadth and richness is unmatched in world business. At the heart of this culture is an understanding that an organization’s ability to learn, and translate that learning into
action rapidly, is the ultimate competitive business advantage.’’
— Jack Welch
‘‘We might make a completely different decision about a deal we agreed on yesterday. Or a program we started in light of the changing environment of the last twenty-four hours. Jack is one of the few guys who’s not afraid to do that. In many organizations, the temptation is to drink your bathwater. In many organizations, the leader is afraid of going back on something, of giving the troops a direction that is different from what he said yesterday.’’
— W. James McNeery Jr.
‘‘We want to change the competitive landscape by being not just better than our competitors, but by taking quality to a whole new level. We want to make our quality so special, so valuable to our customers, so important to their success that our products become their only real value choice.’’
— Jack Welch
‘‘Some managers equate managing with sophistication, with sounding smarter than anyone else. They inspire no one. I dislike the traits that have come to be associated with managing — controlling, stifling people, keeping them in the dark, wasting their time on trivia and reports. Breathing down their necks. You can’t manage self-confidence into people.’’
— Jack Welch
‘‘I have no idea how to produce a good television program and just as little about how to build an engine. But I do know who my boss at NBC is. And that is what matters. It is my job to choose the best people and to provide them with the dollars. My job is to understand the strategic issues within each of those businesses. I know the talent they need to win in those markets and the amount of capital they need. I make bets.’’
— Jack Welch
‘‘We have in the U.S. more than most countries have, and most countries want what we have. We care about the delivery of results. We have a high work ethic. We have a large country, natural resources, an open society that brought in all kinds of people, all races and creeds. We, as business people, have to maximize the opportunity for this country to provide great jobs and great lives and great educations for people.’’
— Jack Welch
‘‘In the twenty-first century, would you rather be in toasters or CAT scanners?’’
— Jack Welch
‘‘I don’t say one thing to outsiders and another to insiders. If you have a simple, consistent message, and you keep on repeating it, eventually that’s what happens. Simplicity, consistency, and repetition — that’s how you get through. It’s a steady continuum that finally reaches critical mass. You don’t get anywhere if you keep changing your ideas. The only way to change people’s minds is with consistency. I haven’t changed a thing. The ideas were always the same. We’ve been talking about reality, agility, ownership, and openness since the beginning. We just got it simpler and more carefully articulated over time.’’
— Jack Welch

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