#1 Manager for last two Decades of 20th Century.
from All Readers.com 2015 enhanced by Peter/CXO Wiz4biz
Author, Jack Welch is a famous American Business Executive & renowned author. He held the position of CEO & Chairman – General Electric from 1981 – 2001 (20 yrs), and it was a huge success story. “He knows how to win !!! During his forty-year career at GE, its market capitalization increased by $400 billion, making it the world’s most valuable corporation. His corporate management style became the ultimate standard in business, with his implacable focus on: 1) people, 2) teamwork & 3) profits.
0. A guiding principle & a road map. (in a business environment). Jack’s main objective is to help people with aim & passion, no matter what their position is in the organization. People are considered as the most valuable assets of any organization and they are everything when it comes to “winning”. As a result they are the main focus. He laid down the following core principles towards the attainment of ‘WINNING objective:
1) Mission & Values: create, share & constantly review
2) Candor – to get out the ugly truth, then solve the problem
3) Differentiation – a fair, effective way to treat all 3 levels of achievers
4) Voice & Dignity – a way to get every brain in the game
5) Leadership – It’s not just about you. Are you motivating & inspiring?
6) Hiring – What are winners made of, so you can pick the right one?
7) People Management – You have the right players, now how are you going to inspire them?
8) Parting Ways – Letting go is hard to do, but you have to for the good of the person & the team
9) Change – Mountains do move – sometimes one shovel at time
10) Crisis Management. “From oh-God-no, To yes-we can do it !!!
11) Strategy – plan how to get to your Vision & goals
12) Budgeting – keeping a rein on Cash Flow & putting $$ where it’ll do the most good
13) The Right Job – Find it and you’ll never really work the rest of your life
14) Work vs Life: Balance – Everything you always wanted to know about having both
1. Mission ??? Values are often mis-understood in the business world. The Mission tells exactly you do. Values depict the “behaviors” that will get you there. Creation of values is very important: as they are the means to the end – winning. Everyone has something to say about values of the organization. Devising a mission is primarily top management’s responsibility, but you have to get buy-in by the employees.
2. Candor. People often stay quiet to avoid conflicts by keeping their opinions & reactions to themselves. Candor facilitates conversations & socialization. To get candor, a company must reward, praise it & talk about it.
3) Differentiation takes companies from “average to outstanding” stature. Every person wants & deserves, voice & dignity. “Voice”, means people want the opportunity to speak their minds. “Dignity” means people naturally and impulsively want their efforts and individuality to be respected.
5. Leadership phases: 1) Success is all about growing your self (prior to becoming a leader). When you become a leader, 2) Success is all about growing others. Leaders lead from the front and take responsibility for their people. Hiring “good” people is a tough, but hiring “great” people is viciously harder. In the end, it’s all about getting the right people on the team. Integrity, intelligence, experience & ability are prime factors in this whole process.
8. Letting people go is a process that has to be owned by the organization (conducted by two principles (ie, no surprise and minimal humiliation). Unfortunately, one learns it under the most tensed circumstances.
9. Change is the only constant in this world. You need to change, preferably before you have to. That’s the point where the effectiveness steps-in and it often differentiates a good growing company from a bad one.
10. Crises happen and problematic situations do arise – as well – because the companies are made of humans. However, crises demand a challenging balancing act from the leaders. Leaders are the driving & inspiring force for their people.
11. Growth Strategy is about not having a “me-to” product. Think about innovation, technology, internal processes, & service add-ons – whatever seems unique. Six-Sigma develops the design processes, gets products to market faster with fewer defects and builds customer loyalty.
14. Work-life Balance is about how we manage our lives & allocate our time. It’s about our priorities & values.
Conclusion. Do the right thing. Keep learning & enhancing your performance. Be focused on where you are going. Establish a justified work-life balance plan and make sure to fulfill your dreams & passions.
Recommendation. The book Winning offers deep insights, genuine thinking, integrity of character & micro-management with a practical approach. It will surely change your overall perception about work and how to manage your people.
Comments: What can you share from your experience – about Winning?