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3. Introduction
Leadership- A matter of ‘choice’ and ‘determination’
• Leaders who created new and profitable ideas
• People who affected political, civic and social changes in the economic world
• INSPIRED and TRANSFORMED others
• In this book,
The characters of leaders are shown which makes them what they are. Major
challenges in there business career and how they tackled it.
One Such Leader , we chose for today’s presentation is
Jack Welch – He is not only a leader, but a leader who has made many
leaders and the legacy continues……
4. Executive Summary
This presentation is a brief on the life and success story of Jack Welch,
former CEO, GE.
The character traits of Jack Welch which steered him in becoming a
leader, his passion towards work, his take on bureaucracy will be
discussed in detail.
We also take a look at the challenges faced by him and his various
achievements.
We conclude by discussing the lessons learnt – “What is in it for us?”
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6. A Brief History about
• 1890 - The Edison General Electric Company begins
•1892 – GE formed as a result of merger
•Over the years its innovation, competitiveness and the vision to “make a world for
tomorrow” and “Why to predict the future when we can create one?” attitude has led
the various innovative products for which GE is known.
•1942 – Develops the 1st
American Jet Engine.
•1955 – Creates the first artificial Diamonds.
•GE is into Aviation, Health products, Power generation – Renewable as well as
non-renewable sources , Intelligence platforms and so on.
7. Jack Welch – TIMELINE
1935: Born to a railway conductor and a home maker Jack Welch was an intelligent kid from the
very childhood.
His mother was a source of inspiration and a constant push to his self confidence.
1957: Graduated from the University of Massachusetts with a B.S. in Chemical engineering
and entered in University of Illinois and earns M.S. And Ph.D. in Chemical engineering.
1960: Entered GE as a junior engineer at a salary of $10,500 and begins to question the bureaucracy
in the organization.
1965: Helped to develop a plastic product which became a $1Bn business for the company.
1965-1981: From Manager to Area head to CEO – Jack had set his career objective to become the
head of the company. He became the youngest CEO of GE, at the age of 46.
8. NEUTRON Jack- “The Radical”
1.Lead, not manage: Someone who came up with good ideas, energize and excite people
rather than enervate, depress and control.
2.Don’t TOLERATE Bureaucracy, BLOW it Up: Bureaucracy can be the most
stubborn disease, but we can simplify and remove complexity and formality to make a company
more responsive and agile.
3.Face REALITY, stop Assuming: Various restructuring plans in the company
including closing down of business and laying off the business which were in losses.
4.SIMPLIFY Things : To Welch, business can be exciting and simple, without jargon and
complexity.
5. Perfectionist : Initiated Six-Sigma to improve quality and reduce defects to 99.99966%
of perfection.
10. CHALLENGES
Fighting a battle that didn’t exist.
Communicating his vision
Eliminating the weak links at GE
Restructuring GE to make it more
profitable
Continually scanning the environment
for new opportunities
11. Achievements
Youngest CEO of GE
Took GE from $10 billion to a $500 billion
company
Launched Six-sigma
Cultivated Leaders
Has a management Institute named after him
Published the book “Straight from the gut” in 2001
Also wrote the book “Wining” in 2005
For his employees at GE, Welch said he felt proud to be able to enrich
their lives with their jobs, while making them wealthier than they could
imagine and that, he said was his greatest achievement.
12. Leadership Lessons
Involve everyone and welcome great ideas
Drop unnecessary work
Make your workplace more informal
Look at things with a fresh eye
Don’t harp on numbers, let the values rule
He will be remembered as Neutron Jack.
13. Conclusion
The true learning of this course is to
realize the leader in us. By the detailed
research on Jack Welch, a lot has been
learnt and there is more to come in the
following days.
It is the future that drives many leaders
forward and that future is what we are
here to build.
“A leader focuses on shaping tomorrow. There is
little or nothing you can do about yesterday. Learn
from it but don’t waste a moment on it. Get on
with tomorrow”
