• Born Nov 19, 1935. An American business executive, author and chemical engineer.

• Chairman and CEO of General Electric (1981-2001)

• During his tenure at GE, the company's value rose 4000%

• He became GE’s youngest chairman and CEO in 1981

About the author

1.Harness the POWER OF CHANGE

• BRINGING IN BIG NUMBERS

• MAKE EACH DAY YOUR FIRST DAY ON THE JOB

• THE GENESIS OF “NUMBER ONE, NUMBER TWO”

• EMPLOYEES HAVE GOOD IDEAS TOO

2. FACE REALITY!

• Deal with situations as they are

• Move and Act on Reality quickly!

• Turn your business around

3. MANAGING LESS IS MANAGING

BETTER• less monitoring and less supervising

• Show Respect, Instill Confidence

• Get out of the way

• Emphasize vision, not supervision

4. CREATE A VISION AND THENGET OUT OF THE WAY

• Business is simple• Always keep the five key questions

in mindi. What does your global competitive

environment look like?ii. In the last 3 years, what have your

competitors done?iii. In the same period, what have you done to

them?iv. How might they attack you in the future?v. What are your plans to leapfrog them?

• Managing is allocating people and resources

• Managers lead with vision

5. NURTURE EMPLOYEES WHO SHARE THE COMPANY’S VALUES

• Give employees more responsibility

• Nurture the employees who live up to company values

• Eliminate employees who do not live the company values.

6. KEEP WATCH FOR WAYS TO CREATE OPPORTUNITIES AND TO BECOME MORE

COMPETITIVE

• Don’t stick your head in the sand

• See things for what they are

• Begin with a vision

7. BE NUMBER ONE OR NUMBER TWO AND KEEP REDEFINING YOUR

MARKET

• Setting the bar as high as possible

• Develop market-leading businesses

• Define markets broadly

8. INCULCATE THE BEST IDEAS INTO THE BUSINESS, NO MATTER WHERE THEY COME

FROM

• Make searching for new ideas a priority of every employee

• Hold idea-sharing meetings on a regular basis

• Reward employees for sharing knowledge

9. SPARK PRODUCTIVITY THROUGH THE “S” SECRETS

“S” Secrets

Speed Simplicity Self-Confidence

• Promote the three “S’s”: speed, simplicity, and self-confidence

• Start with a simple message• Establish systems that foster

self-confidence

10. ACT LIKE A SMALL COMPANY

• Assume that your big company can act small

• Structure for smallness• Check reality: Do you know your

customers

11.REMOVE THE BOUNDARIES!

• Root out boundaries• Model behaviours with senior

managers• Involve everybody

12. UNLEASH THE ENERGY OFYOUR WORKERS

• Unleash productivity by involving everyone• Turn workers into owners• Have patience; attitudes don’t change

overnight

13. LISTEN TO THE PEOPLE WHO ACTUALLY DO THE WORK

• Turn hierarchy upside down• Enable people to speak out freely• If a full-blown Work-Out session is not

possible, consider a half-day mini-session

14. USE E-BUSINESS TO PUT THE

FINAL NAIL IN BUREAUCRACY• Manage in Internet time, using the latest

technologies• Reinvent the company to compete in

Internet time• Build on strengths

AFTERWORD• Jack Welch retired as chairman and CEO of GE

(Sep 2001)• GE “Most Admired Company” for the fifth year in

a row – Fortune Magazine• “World’s Most Respected Company” for the fourth

time – The Financial Times

Sanket BhawarkarMBA-3,1360