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The Summary that follows concentrates the challenges that Jack Welch of General
Electric(GE) encountered during his tenure, and outlines his approach to strategic
corporate leadership and taking charge. It is followed by a breakdown of Welchs
objectives with respect to his innovation and his strategy on creating value. It also gives
an evaluation of Welchs approach to leading change with emphasis on the overall impact
that Welch had on GEs success.
Jack Welch did his BS,MS and PhD in Chemical Engineering and joined GE as a
chemical engineer Before Becoming the 8th Chairman and CEO of General Electric
in 1981 he was elected GEs youngest VP and Vice Chairman. Welch faced a very
difficult challenge taking over the position as CEO of GE. His predecessor, Reg
Jones, set the bar extremely high at the company leaving a legacy for Welch to
compete with as the new CEO. Jones had been considered a management
legend.Needless to say, Welch had some big shoes to fill once named as CEO.
During this transition, the business world was highly competitive, with the
economy, environment, and political climate in constant flux. If not handled
properly, the transition could be detrimental to the company.
Welch continued to injecting his ideas about globalizing business units within GE
and in lines of that Welch hired Paolo Fresco, a proven negotiator, to head the
International Operations position and as a result GE took advantage of global
economic downturns in countries like Mexico and Japan to increase their
acquisitions, doubling revenue from international operations within the first five
years.He was very keen in developing leaders by giving best training and
development resources for personal and professional growth to make employees
loyal and to rebuild the trust lost in 80s due to layoffs.He wanted to make G.E the
best place to work for which the best people compete to get into and to inculcate
a set of values which every manager should follow.
He was not only a leader but a model for companies , who invented new measures
and strategies which were adopted by others. He was criticized for selling
businesses when they were in loss ,but he took decisions which proved to be fruit
full in long run. He brought GE to the heights where it is now with his wise
calculated decisions and risk taking ability
Conclusion :
Jack Welch stepped out into altogether different territory with high aspirations of
making dramatic change within the GE organization for positive growth. These efforts
were achieved through several unprecedented means and reorganization of the
existing organizational structure to facilitate discussion, communication, and
constructive criticism throughout the company. Although some of his chosen
methodologies were deemed by critics as radical and risky, the results of Welchs
actions serves as a testament to his strategic leadership at the GE. The agility,
responsiveness, productivity and ultimately profitability realized as direct
results of Jack Welchs actions while operating in the office of GE CEO are key
indicators of the lasting impact that his legacy leaves for future officers tapped to fill
the position. Programs and processes established under his watch leave an
impressive standard for successors. Without a doubt, Jack Welchs leadership has
left a lasting impact on GE and the business world.