24 Lessons from World Greatest CEO – Jack Welch -10

Pounce everyday vs Move cautiously

Pouncing everyday means moving faster than competitors to win business, please customers and snap up opportunities.

· Live urgency – don’t waste time
· Make decision faster – don’t sit on decisions. Empty that in-basket so that you are free to
search out new opportunities.
· Work harder – When you are ready to go home after long day of work, stay a few minutes
more and get a jump on the next day’s work
· “Don’t sit still. Anybody sitting still, you can guarantee they’re going to get their legs knocked
out from under them.”

24 Lessons from World Greatest CEO – Jack Welch -9

Make intellect rule vs Let hierarchy rule

· Spend an hour per week learning what competitors are doing
· Offer a reward for the best idea
· Work for organizations committed to training and learning

- “…the desire, and the ability, of an organization to continuously learn from any source, anywhere-and to rapidly convert this learning into action – is its ultimate competitive advantage.”

24 Lessons from World Greatest CEO – Jack Welch 8

Defy tradition vs Respect tradition

· Hold a”why do we do that way?” meeting
· Invite colleagues from your department to contribute one idea on changing something
important at the company
· Do not be afraid to buck conventional wisdom
· “Shun the incremental and go for the leap”

24 Lessons from World Greatest CEO: Jack Welch -7

Lead by energizing others vs Manage Others

From “Command and Control” (The stripes on your shoulder) to “Boundaryless”

· Never lead by intimidation
· Let others know exactly how their efforts are helping the organizationSend handwritten thank you notes to colleagues and customers

24 Lessons from World Greatest CEO: Jack Welch -6

See change as an opportunity

· Know that change is here to stay
· Expect the least expected, but move quickly to stay a step aheadPrepare those around you for the inevitable change that will affect their lives – talk about change in a positive light so people do not fear it. Speak of it as an opportunity, not threat.

24 Lessons from World Greatest CEO: Jack Welch -4

Face Reality


Look at things with a fresh eye
Do not fall into the ‘false scenarios’ trap
Leave yourself with several options – the best time to change is when you want to, not when you have to.

24 Lessons from World Greatest CEO: Jack Welch -5

Simplify


Simplify the workplace – eliminate or improve complicated forms, processes and ways of doing things.
Make meetings simplerEliminate complicated memos and letters

24 Lessons from World Greatest CEO: Jack Welch -3

Blow up bureaucracy


Drop unnecessary work – workout to determine current which can be either eliminated or improve
Work with colleagues to streamline decision making
Make your workplace more informal – Send handwritten notes instead of memos, keep meetings conversational and encourage dialogue up and down the corporate ladder.

24 Lessons from World Greatest CEO: Jack Welch - 2

Get Less Formal


Brainstorm with colleagues and bosses
Hold more informal meetings
Consider a once-in-a-while informal get together

4 Lessons from World Greatest CEO: Jack Welch -1

LEAD

It is all about leadership, not management.
Leader – someone who could express a vision and then get people to carry it out.
The hero is the person with a new idea
New ideas as a lifeblood of the organization


Articulate a vision, and spark others to execute it
Do not manage every excruciating detail
Involve everyone and welcome great ideas from everywhere