Jack Welch as a Leader Mr. Jack Welch former chairman and CEO of General Electric (GE) is amongst the renowned personalities in the field of business. His tenure as a CEO of GE lasted for two decades, which is celebrated for the excellent leadership skills that resulted in the 4000% growth of the company. He bought the change which was necessary for the companies earning at the time i.e. eliminating the communication barrier amongst the employees of the company, right sizing, introduction of succession planning and making tough decisions for letting go some of the profitable departments of the company. As a leader he had a clear vision; he knew what had to be done, which resources were needed and how much time it would take to bring the company
Career Biography of Jack Welch Management guru Jack Welch, former CEO of General Electric, has been instrumental in forming today’s top business management leaders by imparting effective knowledge in leadership management; he is widely credited with transforming GE into a multibillion-dollar conglomerate.
Evaluating his approach to bringing about change in his organization. Comparing his approach with that of Jack Welch.
www.ge.com Analyzing GE’s corporate-level strategy from 2001 – present with Jeff Immelt as CEO, GE focuses on the growth and development platforms. Technology is the key driving force for GE’s future and growth. Advancements in industries such as energy, health and aviation fueled demand for cleaner and more efficient energy production. GE identified new markets with potential high-growth that offered attractive returns through strategic mergers and acquisitions. As CEO, Jeff Immelt established a process for identifying projects that offered attractive growth potential which were then nurtured and treated as special projects or initiatives that were not subject to strict budget constraints. Immelt introduced GE’s three strategic imperatives as: (1) sustaining its strong business model, (2) strengthening the business portfolio, and (3) driving its growth initiatives. www.ge.com
GE’s Two-decade Transformation Jack Welch’s Leadership Managing Konwledge and Learning (#9-399-150) ANALYSIS of GE Advantage, Problems and risks including my suggestion/ * (1) GE *Key factors*: Hardware restructure*: When Reg Jones, Welch’ Predecessor, became CEO in 1973, the company organization was just completed to be centralized, but Jones could not able to keep up with reviewing massive volume of information generated by 43 strategic plans. Finally in 1977, he capped GE’s departments, divisions, groups, and SBUs with a new organizational layer called “sectors”, which represented macrobusiness agglomerations.
http://www.papercamp.com/print/GeMaking-Of-Ceo/10993 1.What philosophy, policies, and practices have made GE a “CEO factory” as Fortune called it? General Electric (GE) has traditionally had a hands-on approach to talent management. There is a high degree of involvement of the top management in its people policies. There is a top-down approach to human resource policy. Also, GE recognized the need to be a strategy focused organization early on. The people policy of GE and its HR systems show a high degree of alignment to its strategy implementation. The emphasis on management talent development by four successive
Transnational organizations have a complex business structure and require a multidimensional concentration of resources which are customized to meet the requirements of each local market. The central office requires a transnational strategy in order to attract local benefits which are important to the organization. Among the advantages of transnational organizations is the capacity to maintain a great degree of quick to response to local market needs from where they have operations. This report focuses on the General Electric (GE) which holds substantial assets and with operations in most countries in the world.
Key Issues New business portfolio includes focus on: Broadcasting and entertainment, healthcare, energy, technology infrastructures, and finance.
1 GE’s Two Decade Transformation Team Globalization Case Analysis GE’s Two Decade Transformation: Jack Welch’s Leadership Yasmine Abdo Al-Kouraishi Muhammad Howard Steven D. Johns Kenneth V. Oliver Kimberly N. Lomax AMBA 670 Managing Strategy in the Global Workplace July 25, 2012 2 GE’s Two Decade Transformation Executive Summary Team Globalization has conducted an in depth analysis on General Electric 's (GE) two decade transformation achieved by the company’s former Chief Executive Officer (CEO) Jack Welch. This report consists of a reflective examination performed by the team, incorporating perspective gained through professional experience and key concepts gleaned from selected course reading selections. As CEO of GE,
Now, GE has continued on and owns over 67,000 patents. The company has blasted off from the beginning, and that can only happen with a strong staff to support the company from the inside out. Currently, GE has it’s headquarters in Fairfield, Connecticut. Jeff Immelt is the current CEO, and has held that position since 2001. Immelt has been involved in the company much longer than that, though. He’s held positions in GE’s Plastics, Appliances,and Healthcare divisions since 1982. However, his power has a negative side to go along with the positive. GE’s stock has gone down nearly 60% since 2001, when Immelt become the CEO. This dramatic change can be blamed on fluctuations in the economy, but that’s not where it stops. General Electric has lost 19,000 employees, and also closed 31 plants in America. Immelt has been criticized for all of this, and even especially so because he was the chairman on President Obama’s Council on Jobs and Competitiveness. The company has 18 other corporate executives, to head fields like Financial Planning, Investor Communications, and Global Research. Their 19 business executives head the different departments of GE: Lighting, Transportation, Asset Management, Power and Water, Oil and Gas, International Capital, Retail Finance, Aviation, Energy Management, GE:Africa, GE:Greater China, GE:America, Healthcare, Home & Business Solutions, and Real Estate and Capital
General Electric's Quality Gamble The Implementation of Six Sigma General Electric (GE) is among the most profitable companies and, according to Fortune magazine, the most admired. It stock is the most highly valued in the world. Some critics would argue, if it's not broke, why fix it? Jack Welch, CEO of GE, believes in the "infinite capacity to improve everything." Why does a company that has experienced so much success recently invests over a billion dollars in a quality initiative? Increased competition has GE adopting the attitude that businesses that stand still become obsolete as businesses that continue to grow pass them by. Also by implementing Six Sigma, GE is preparing itself for future profitability
Background Information- General Electric Company, known as GE the world over, is an American-based, multinational corporation headquartered in Connecticut. In 2010, the company reported in excess of $150 billion in revenues, net income of over $12 billion, and almost 300,000 employees. It operates through four basic segments: Energy, Technology Infrastructure,
1. Jeff Immelt, General Electric’s (GE) CEO as of September 7th 2001, has made tremendous improvements to the organizations strategy in terms of the firm-strategy interface and the environment-strategy interface. The foundation had been set by the “near legendary CEO” Jack Welch, his predecessor who had been the CEO for 20 years and built GE into a “highly disciplined, extremely efficient machine that delivered consistent growth in sales and earnings—not only through effective operations management that resulted in organic growth (much of it productivity-driven) of 5% annually, but also through a continuous stream of timely acquisitions and clever deal making”. Unfortunately, Immelt was faced with numerous difficulties as problem after
General Electric’s (GE) humble beginnings began in 1878 when Thomas Edison established a light company called “Edison Electric Light Company”. GE was created as a result of a merger between the Edison Electric Light Company and Thomson-Houston Light Company (David Allen, 2007). It still maintains the same Dow Jones index it had since 1896. The company has a global presence in 100 countries and growing and currently employs 313,000 people worldwide. GE is a multinational conglomerate whose operations span financial services, energy, industrial manufacturing and healthcare. It’s a diversified and profitable conglomerate with a lot of very good but very unrelated business (Barron, 2011). Diversifying provides the company with a degree of protection against poor performance in any business segment (Arthur Anderson, 2007). This has helped shield profit losses during the recession of
Environment of GE: Pre 2001 GE was a very successful organization under the immensely charismatic and influential Jack Welch. The period of 1981 to 2001 when he was the CEO saw the company increasing market share rapidly and grew exponentially. This period was a period of increasing environment changes and GE saw Jack Welch as the new CEO. He made a famous speech that the company is a fast growing company is a slow growing economy. We can judge from this that the economy of those days was a very stable one with not many changes in the task environment. There would then be reduced competition and reduced pressure due to changing environments.