Former chairman and chief executive officer, General Electric Company Nationality: November 19,in Peabody, Massachusetts. Son of John Welch a railroad conductor and Grace Andrews; married Carolyn Osburn, divorced ; married Jane Beasley an attorneydivorced ; children first marriage:
Copyright c Noel M. Tichy and Stratford Sherman. As General Electric's chief executive sinceWelch, 57, has led the revolution that is transforming GE from a stodgy industrial giant into one of the world's most valuable and competitive companies.
His remarks here are from the new book about his tenure at GE: The authors spent over hours interviewing Welch, and spoke with scores of other GEers, from heads of businesses to young management trainees.
Tichy, a professor of organization at the University of Michigan, was a key participant in the GE revolution. A consultant there sincehe ran GE's Crotonville management-development school for two years. Their book explains how companies and individuals can face accelerating change and intensifying competition, and win.
Welch's managerial focus has shifted over the years from cost cutting and restructuring to the murky realm of human values.
It's going to be brutal. When I said the s was going to be a white-knuckle decade and the s would be even tougher, I may have understated how hard it's going to get. Everywhere you go, people are saying, 'Don't tell me about your technology, tell me your price.
The fact is, many governments are broke, and people are hurting, so there's an enormous drive to get value, value, value. During the global expansion of the s, companies responded to rising demand by building new factories and facilities in computers, airplanes, medical equipment -- almost every industry you can think of.
Then, when the world economy stopped growing, everybody ended up with too much capacity. Globalization compounds the problem: It doesn't matter where you are anymore because distribution systems now give everybody access to everything.
Capacity can come from anywhere on the planet, and there's too much in just about every industry in every developed country. No matter where you go, it's the same story. As it intensifies, the margin pressure on all corporations is going to be enormous.
Only the most productive companies are going to win. If you can't sell a top-quality product at the world's lowest price, you're going to be out of the game. And while that bar keeps getting raised higher, higher, higher, we're all going to be experiencing slow revenue growth.
They want to know, 'How much will it cost? Can you provide financing? Can we walk away from the lease? Simply put, we couldn't afford to sell them the planes. Technology is still absolutely critical, but in industry after industry it will be value driven.
Who can make the most energy efficient light bulb or refrigerator? Whose medical imaging system is the most cost-effective? The market is shifting away from the technology leader in the high-end niche to the guy with the basic, proven, low-priced systems that produce acceptable images.
Governments have decided they don't want to pay more for health care, so if you're trying to pitch some new hot technology the customer's going to say, 'See you later. We won an order from Swissair for jet engines because ours produced the lowest emissions.
Multinational companies have to maintain worldclass environmental standards wherever they go -- even where local laws are lax -- in their plants as well as their products.
In the end, there's going to be a global standard for the environment, and anyone who cuts corners today will wind up with enormous liabilities down the road.
If we're going to be global citizens, we can't have one set of standards in some countries and different standards in others.
Some of the biggest dangers I see ahead come from governments. I have to worry about whether government policies here will allow us to deliver the productivity we need to win on a global basis.
But it's not just the U. Wherever you travel these days, you encounter increasing fear of government.Jack Welch was head of General Electric over two decades before he retired in He is widely regarded as one of the most successful industrial leaders of the modern age, having increased the.
Jack Welch: Icon Of Leadership Words | 6 Pages. Jack Welch was the former CEO of General Electric between and During his time at General Electric, the value of the company grew %, making it the most valuable company in the world at the time.
Part One: Jack Welch as a Leader Jack says that “Good business leaders create a vision, articulate the vision, passionately own the vision, and relentlessly drive it to completion.” He calls the overall success of his leadership this is the most effective way to get the most out of employees.
I have read just about every book either written by or about Jack Welch that has been published. This is the best book over-all. Most of what is written is just a rehash of what Welch wrote about himself or the Author keeps repeating the same information with new graphics and slightly different format with each new book he writes. "Jack Welch Speaks shows business at its most fascinating. It gives the reader a valuable insight into the mind and personal philosophy of one of America's keenest, most effective business leaders." -Ely Callaway Founder and Chairman, Callaway Golf. Value Based Management said “Whatever his tactics, the fact that Welch is one of the most successful business leaders of all-time Buffett could lay claim to”. GE was the only company in which Jack Welch worked for his entire life. Jack started his career at GE in the year as an engineer. During.
Of course, he doesn’t require his. Jan 19, · Business Leaders: 7 Lessons My Silent Mentor Jack Welch Taught Me.
Mike January 19, July 17, Lessons. Jack Welsh is one of my five mentors. Business leaders. Check out our thoughts on Famous business leaders of all time competitive advantage Location: Italia Court, Melbourne, , Florida. With his unique leadership style and character, Welch made history during his 2-decade journey at GE.
While most leaders talk a good game on leadership, he lived it. In this article, we feature Welch’s 12 lessons and how they contributed to the largest corporate makeover in history. Jack Welch has attained legendary status in the business world and is considered by many of his peers and colleagues to be one of the greatest chief executive officers (CEOs) of all time.