This website uses cookies to ensure you have the best experience. Learn more

Winning By Jack Welch Essay

2556 words - 11 pages

Every Day There Is A New Question"Winning" is written by Jack Welch and, whether you love him or hate him, the guy has real experience in running a large corporation successfully. This is unlike so many other authors who can be somewhat academic. Welch began his career with the General Electric Company in 1960, and in 1981 became the company's eighth chairman and CEO. During his tenure, GE's market capitalization increased by $400 billion, making it the world's most valuable corporation. Jack retired in 2001 and he is currently the head of Jack Welch, LLC, where he serves as an advisor to a small group of Fortune 500 CEOs and speaks to businesspeople and students around the world.Overall, ...view middle of the document...

It requires companies to make choices about people, investments and other resources. The question also forces companies to delineate their strengths and weaknesses in order to assess where they can profitably play in the competitive landscape.Welch recommends that everyone in a company be given an opportunity to have input into its value statement. Getting full participation when you are formulating a value statement really makes a difference, he says. It gives you more insights and more ideas, and most importantly, at the end of the process you'll have more extensive buy-in. Naturally, an open, participatory process cannot happen overnight. It will take time, and an enormous amount of commitment. But Welch is confident it will be worth it in the end.CandorNext, there is candor or just telling it like it is. Jack believes lack of candor blocks smart ideas, fast action and good people contributing everything they have. When you have candor, everything just operates faster and better.First you get idea-rich. Second, candor generates speed. Third, candor cuts costs. Put all of its benefits and efficiencies together and you realize you just can't afford not to have candor. Given the advantages of candor, you have to wonder why we don't have more of it.To get candor, you reward it, praise it and talk about it. You make public heroes out of people who demonstrate it. Most of all, you yourself demonstrate it in an exuberant and even exaggerated way - even when you're not the boss.DifferentiationDifferentiation is probably one of the things which Welch is most noted for at GE. His 20-70-10 plan has been controversial to say the least. This practice highly rewards the top twenty percent of employees, encourages the middle seventy percent and eliminates the bottom ten percent. By doing this, Welch believes that companies win when companies cultivate the strong and cull the weak. Also he stresses that companies suffer when every business and person is treated equally.To Welch, differentiation is just resource allocation. Along with being the most efficient and most effective way to run a company, differentiation also happens to be the fairest and the kindest. No one should ever be surprised that they are not performing well and are fired. This is why a company needs candor and honest evaluations.Ultimately, Jack reasons that 20-70-10 makes winners out of everyone. However, differentiation cannot and must not be implemented quickly. At GE, it took about a decade to install the kind of candor and trust that makes differentiation possible.LeadershipNo matter what the situation, or who your audience is, Welch believes there are a few basic techniques of leadership that will always work in creating a winning company. He refers to these as his eight rules of leadership.First of all, leaders relentlessly upgrade their team, using every encounter as an opportunity to evaluate, coach, and build self-confidence. They take every opportunity to inject self-confidence...

Other Papers Like Winning By Jack Welch

Case Write-Up Final – Ge’s Two-Decade Transformation: Jack Welsh’s Leadership

4003 words - 17 pages alone, as in a four-year span (’81-’84) revenues increased by $2 billion while operating profits rose by $800 million. One of the major lessons that can be taken from Jack Welch’s “first stage” of change is the need to place goals for the change process and not just have change for change stake. When the process is unfrozen there need to be measurable goals in order for the company to know when to refreeze their process. Welch set a goal that every

Ge’s Digital Revolution Group Case Essay

1486 words - 6 pages managers experienced as well as create ideas to overcome obstacles. Since GE sees failure as unacceptable, Welch wanted to give his full support to the company during this transition. To motivate employees, Welch used a strategic exercise called Destroy Your Business (DYB) where “Each unit of the organization visualized how it might be crushed by the dotcom juggernaut, on former CEO Jack Welch’s premise that if a company didn’t identify its own

Ge Leadership Case

4614 words - 19 pages are granted, but it’s your behaviour that wins you respect.”1 Nothing exemplifies this more for Jack Welch than how he handled the company’s employees. Early on in his tenure as CEO, Welch made big waves by deciding to downsize the number of corporate layers and sell off many of GE’s traditional business units. These mass layoffs lead to some critics dubbing him “Neutron Jack” for his practice of getting rid of the people while leaving the

Case Analysis

1215 words - 5 pages Kanwei Pang UG8723 MGMT 4500 Case Report: The Jack Welch Era at General Electric During Jack Welch’s two decade tenure as CEO of General Electric that started in 1981, he had many notable accomplishments in GE's history; he fulfilled the company's primary economic responsibilities to society by serving customers worldwide and stimulating the economy. But as such big company, there were opposing views to his social responsibility tactics


1088 words - 5 pages by anyone. My goal is to become a better leader using my DISC profile as a guide in how to lead various styles and practicing emotional intelligence. Introduction The difference between good companies and great companies is leadership. With this belief in mind I have made it my life’s mission to continue to excel and to improve as a leader which is what led me to read the book Winning and then later to enroll in the Jack Welch

Jack Welch Leadership

2769 words - 12 pages 15-LD-Leadership Stories-2 Thursday, April 10, 2014 Jack Welch I have selected Jack Welch former Chairman and CEO of General Electric. I chose Mr. Welch as he is such a renowned business man and success story. Moreover, he is a local product and I grew up hearing how GE was such a great company as many of my mother’s friends and family were employed by GE. I knew little besides generalities of his abrasive personality and his no-funny

This Boy's Life

700 words - 3 pages see Jack as just another foolish child. As a young boy, Toby Wolff traveled long and far with his beloved mother to "change [their] luck" for good (4). Toby's mother was fleeing from a "violent man" that she was afraid of (6), and Toby was also going to have a fresh start by changing his name. He felt that the name Jack "would charge [him] with some strength" (8). Though his mother did not like the thought of it, she agreed in letting Toby

Ge's Two Decade Transformation: Jack Welch's Leadership

1016 words - 5 pages GE’s Two Decade Transformation: Jack Welch’s Leadership 1. Jack Welch was hired to take on the role as the CEO at General Electric (GE) and responsible for rebuilding the organization. Jack was faced with several obstacles prior to taking on this position at GE. One obstacle was that prior to his assignment a powerful leader had a great impact on reorganizing GE’s business strategy. Another obstacle was that several companies were

Ge's Two Decade Transformation: Jack Welch's Leadership

1016 words - 5 pages GE’s Two Decade Transformation: Jack Welch’s Leadership 1. Jack Welch was hired to take on the role as the CEO at General Electric (GE) and responsible for rebuilding the organization. Jack was faced with several obstacles prior to taking on this position at GE. One obstacle was that prior to his assignment a powerful leader had a great impact on reorganizing GE’s business strategy. Another obstacle was that several companies were

Citi Bank Preformance Review System

1645 words - 7 pages for each objective establishes what Jack Welch says is “tell them what good looks like in your eyes as the leader”. (Welch, 2005) Including an area for manager overall comments gives the manager the chance to clearly explain were they need to improve and how the following rating period and what good looks like. Last we are back to differentiation; we have seen that at great companies relies on having great people to be successful. Leaders that

Entrepreneurial School of Thought

4537 words - 19 pages providing the autonomy and freedom to innovate CEO Jack Welch attributes to his own personal success. While SBUs remained somewhat free from GE bureaucracy, they do not lack planning, strategic analysis, and oversight. A combination of strategic planning and analysis using the GE/McKinsey competitive strength and market competitiveness matrix, coupled formally under Jones, and later loosely under Jack Welch with strategic reviews by the chief

Related Essays

Winning Book Review

1202 words - 5 pages Review of Winning by Jack Welch When former General Electric CEO Jack Welch reflected on the thousands of questions he has been asked over the years, he realized they could be summed up by one question, “What does it take to win” (Welch Pg.3). Welch believes when companies win, everybody wins and the world is a better place. In his book, Winning, Welch attempts to answer the question of what it takes to win. He uses his experience at General

Welch Achievement Essay

932 words - 4 pages 51-605-60 MBA Organizational Leadership and Behavior Fall 2011, Term 1 Modern Business Leader Analysis Project JACK WELCH By Chad Wilson Lucy Ebanja Renee Wingfield Sheng Wang Ying Zhang Instructor: Dr. Constant Beugre Content Jack Welch’s accomplishments Jack Welch joined General Electric (GE) in 1960 and became vice president (1972) and then vice chairman (1979). In 1981 he became chairman and CEO of GE; at 45, he

Winning Book Review

1909 words - 8 pages Winning Book Review Welch, J., & Welch, S. (2005). Winning. New York: Harper Business. In the book Winning by Jack Welch with Suzy Welch, Jack Welch talks about how winning is everything in business. If you are not in it to win it, then do not be in it at all. When companies are winning, there are far more opportunities than when a company is losing. A winning company can give back to society by providing more jobs and resources. A losing

Organization Final Essay

4077 words - 17 pages out of the United States. Also, consolidation of their major product lines was necessary. GE’s mainstay was made up of two-thirds manufacturing and one-third technology and services. It was difficult to manage these 350 major product lines, and services. It made sense to consolidate and reevaluate focus on the company’s core products. (Jack Welch) I believe that he single handedly overcame these problems by utilizing enterprising orientation