Jack Welchand

His Success Story-Kalyan Kumar MCA

Warangal

Kalyan Kumar M.C.A. 2

OverviewEarly Life & EducationAbout GE (General Electric)At GEAfter GEConclusionReferences

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Early Life & EducationBorn on 19th November, 1935 in Massachusetts, United

StatesBorn to a working class familyGraduated from University of Massachusetts in 1957 with a

B.S. in Chemical EngineeringReceived M.S. and Ph.D at University of Illinois in the year

1960

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About GE (General Electric)Founder - Thomas A. Edison

First Name – Edison Electric Light CompanyEstablished in the year 1878

Renamed as General Electric in the Year 1902Chairman & CEO – Jeffery R. Immelt

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Jack Welch @ GE Joined GE in 1960 as a Chemical Engineer in

Plastics Division at a salary of $10,500 annually

In 1961, Welch planned to quit his job

Persuaded to remain at GE by Reuben Gutoff

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Jack Welch @ GEVice president of GE in 1972

Vice chairman in 1977

Chairman & CEO of GE in 1981

Welch is the 8th Chairman & CEO of GE

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Welch’s Management StyleCreate a culture where Risk is rewarded.Accountability and measurable goals are paramount. If something or someone is not working out kill the project

or fire the employee.Candor and Trust are king in building a competitive and

efficient workplace.

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After GEWrote a popular column for “Business Week”, for 4 yearsPublished

“Winning” “Straight from the Gut” “Winning: The Answers”

Welch has been teaching a class at the MIT Sloan School of Management

Founded “Jack Welch Management Institute”

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Welch says . . .The team with the best players wins.A company should be either #1 or #2 in a particular

industry, or else leave it completely. I've learned that mistakes can often be as good a teacher as

success. If you don't have a competitive advantage, don't compete.

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ConclusionTook $14 billion company to $400 billion company, received a salary of $4million a year at the time of his retirement.

In 1999 he was named "Manager of the Century" by Fortune magazine.

"If management is an art, then surely Jack Welch has proved himself a master painter."

- BusinessWeek

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References

http://en.wikipedia.org

http://www.jwmi.com

http://specials.rediff.com

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QUERIES

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THANK YOU