At IILM, we encourage our students to read management books in order to get a deeper perspective into the industry at large. A recent blog shared by our student, Arpit Aggarwal (PGDM Batch of 2013-15) provides some relevant insights into the book ‘The GE Way’ by Jack Welch.
Jack Welch & the GE Way
Recently, I finished reading this book and it is the most interesting book on Management Insights and Leadership secrets of the Legendary CEO Jack Welch. Robert Slater has contributed so well and it is his second book on Jack Welch. GE is the most valuable company in the world and Jack Welch, GE’s CEO is the most acclaimed CEO of the world. This book tells in details the Welch Strategies and Management Secrets. Under his leadership, GE became the first company in the world to apply six-sigma strategy in their work.
This book also offers a rare look into the mind of Jack Welch illuminating his vision and prescriptions for the future of business. Slater has highlighted the GE revolution of achieving double-digit growth in a boundary less organization and feature over 30 of Jack Welch’s leadership secrets. Jack Welch does not believe in sitting still. His innovative, breakthrough leadership strategies as CEO have transformed GE into a highly productive and labor efficient powerhouse. One of the good quotes in this novel is “Act like a leader not a manager.”
One of the Welch strategies that I like in this book is – “Welch was open to take feedback from every employee of his organization, starting from a labor employee to a General Manager.” Companies will do well to with this advice on how to foster an open ended, informal work atmosphere that will encourage employees to speak out, breaking down the walls of hostility between managers and subordinates.
His commitment towards the organization motivates his employees. Welch commitment and dedication for the company came when he said, “GE will be the top most production company in the sector, otherwise GE will stop producing products.” This statement and vision of Jack Welch drives GE into the top Fortune 500 companies. In 1997, GE led Business week list of all companies worldwide in market value for the second consecutive year and achieved near top ranking of the most profitable companies in the U.S.
This book gives an overview of Welch philosophy on how to manage and how not to manage and covers topics such as building a market-leading company, forging the boundary less organization, harnessing people for competitive advantage, pushing service, and globalization for double-digit growth.
Written by: Arpit Aggarwal
PGDM Batch of 2013-15
IILM Institute for Business & Management, Gurgaon