Jack Welch, is United States one of the most successful CEO, running the most valuable firm in the US, General Electric. His main philosophies are:
• Keep Business Simple and don’t over complicate it
• Be practical and face reality
• Don’t fear change
• Fight Bureaucracy
• Use your worker's brain
• Identify people with best ideas and put them into practice
And always keep learning from your associates, competitors, and customers. Learning should be consistent and then only you will be able to successfully position your company to take advantage of upcoming opportunities that will arise in future.
Leaders not Managers
Jack Welch thinks Business leaders are needed and not business managers, as managers often think that their role is to supervise …show more content…
The second type is the people who are shown doors as they are very hard to reason with. The third type of managers is given a second chance to improve their performances. The fourth is the most difficult people and Jack Welch doesn’t talk about them much.
The hiring Criteria GE is very stringent and they always look for type 1 people. Welch has a direct saying in promotions and he makes sure that he knows 500 of his best managers and personally signs their promotion letters at GE. His involvement in hiring new people is a proof of the importance of hiring process. Welch believes nurturing managerial talent is key to the success of GE. He pays special attention to shifting talent at higher levels. He in fact interviews anyone who is in top 500 list and is hired from outside.
This shows the belief Jack Welch has in his hiring process and more than that the employees understand that if they perform well they will not go unrewarded.
Face Reality, Be Simple and …show more content…
• Encourage employees to do best they can and then to stretch a little further to reach the higher goals.
Conclusion
As per the book” Jack Welch -The GE way” Jack realized that in order to run a firm successfully, all the employees will have to take the ownership of the tasks and in order to do that they will have to be highly motivated and feel important. Hence Jack came up with different solutions to restructure the firm so that everyone contributes to the growth of the firm.
He realized that the most important things for a firm are:
• There should be leaders and not managers
• Everyone should communicate with each other and flow of ideas should not be restricted to selective groups
• Developing leaders with visions and encouraging employees to put forward their thoughts without any fear and hence removing boss culture.
• Enhancing skill set of the employees within the organization.
• Having core values of the company and abiding by them in order to have consistency.
• Numbers don’t reflect much people does
• Identify the situation and take decisive action and don’t over complicate
• Keep Business Simple and don’t over complicate it
• Be practical and face reality
• Don’t fear change
• Fight Bureaucracy
• Use your worker's brain
• Identify people with best ideas and put them into practice
And always keep learning from your associates, competitors, and customers. Learning should be consistent and then only you will be able to successfully position your company to take advantage of upcoming opportunities that will arise in future.
Leaders not Managers
Jack Welch thinks Business leaders are needed and not business managers, as managers often think that their role is to supervise …show more content…
The second type is the people who are shown doors as they are very hard to reason with. The third type of managers is given a second chance to improve their performances. The fourth is the most difficult people and Jack Welch doesn’t talk about them much.
The hiring Criteria GE is very stringent and they always look for type 1 people. Welch has a direct saying in promotions and he makes sure that he knows 500 of his best managers and personally signs their promotion letters at GE. His involvement in hiring new people is a proof of the importance of hiring process. Welch believes nurturing managerial talent is key to the success of GE. He pays special attention to shifting talent at higher levels. He in fact interviews anyone who is in top 500 list and is hired from outside.
This shows the belief Jack Welch has in his hiring process and more than that the employees understand that if they perform well they will not go unrewarded.
Face Reality, Be Simple and …show more content…
• Encourage employees to do best they can and then to stretch a little further to reach the higher goals.
Conclusion
As per the book” Jack Welch -The GE way” Jack realized that in order to run a firm successfully, all the employees will have to take the ownership of the tasks and in order to do that they will have to be highly motivated and feel important. Hence Jack came up with different solutions to restructure the firm so that everyone contributes to the growth of the firm.
He realized that the most important things for a firm are:
• There should be leaders and not managers
• Everyone should communicate with each other and flow of ideas should not be restricted to selective groups
• Developing leaders with visions and encouraging employees to put forward their thoughts without any fear and hence removing boss culture.
• Enhancing skill set of the employees within the organization.
• Having core values of the company and abiding by them in order to have consistency.
• Numbers don’t reflect much people does
• Identify the situation and take decisive action and don’t over complicate