Jack Welch
Jack Welch
John Francis "Jack" Welch, Jr.is a retired American business executive, author, and chemical engineer. He was chairman and CEO of General Electric between 1981 and 2001. During his tenure at GE, the company's value rose 4,000%. In 2006, Welch's net worth was estimated at $720 million. When he retired from GE he received a severance payment of $417 million, the largest such payment in history...
NationalityAmerican
ProfessionEntrepreneur
Date of Birth19 November 1935
CityPeabody, MA
CountryUnited States of America
Keep learning; don't be arrogant by assuming that you know it all, that you have a monopoly on the truth; always assume that you can learn something from someone else.
People aren't the same. Business is, in my opinion, all about the team that fields the best players. It's not about an idea. An idea goes away. Somebody catches up with it. It's not about a widget.
Cash is king. Get every drop of cash you can get and hold onto it.
Creative artists have great passion.
People who are coaches will be the norm. Other people won't get promoted.
Good leaders have a generosity gene.
When it's time to let someone go, do it right. No surprises. No humiliation.
On the face of it, shareholder value is the dumbest idea in the world,
My bosses cautioned me about my candor. Now my GE career is over, and I'm telling you that it was my candor that helped make it work.
Lack of candor blocks smart ideas, fast action, and good people contributing all the stuff they've got. It's a killer.
With leadership the question at the beginning of the day is, 'how far can we take this...how big can we grow it...and how fast can we get there?'
As leaders, we owe it to every employee to let them know where they stand in the organization.
That's all managing is: just coming up with the right questions and getting the right answers.
Just because you are the boss doesn't mean you are the source of all knowledge.