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Jack Welch General Electric By: Dan Wales Kennya Leal Chris Lage Richard Orsi Alexandra Pagliuca * He attributed many of the fundamental life lessons he learned to ... – PowerPoint PPT presentation

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Title: By: Dan Wales


1
Jack WelchGeneral Electric
  • By Dan Wales
  • Kennya Leal
  • Chris Lage
  • Richard Orsi
  • Alexandra Pagliuca

2
"Neutron Jack"
3
Early Life
  • Born in Peabody, Massachusetts.
  • Father John was a Maine Railroad Conductor.
  • Mother Grace was a Housewife.
  • Was an Only Child

4
Education
  • Jack attended Salem High School.
  • Graduated from UMASS Amherst in 1957 with a B.S.
    in Chemical Engineering.
  • Graduated from the University of Illinois in 1960
    with a M.S. and Ph.D. also in Chemical
    Engineering.

5
Early Jobs
  • Joined General Electric in 1960 as a Junior
    Engineer in Pittsfield, MA.
  • Very disappointed with strict bureaucracy within
    General Electric, and planned to leave.
  • Named Vice President of G.E. in 1972.
  • Named Senior Vice President in 1977.
  • Became Vice Chairman in 1979.
  • Hit his peak as CEO in 1982. The eighth and
    youngest chairman and CEO in history of G.E.

6
Management Style
7
Rules to Manage by
  • Create a culture where risk is rewarded and
    accountability and measurable goals are
    paramount.
  • Provided outside rewards to those that
    demonstrate exceptional performance.
  • If something or some one is not working out kill
    the project or fire the employee.
  • Candor and trust are king in building a
    competitive and efficient work place.

8
Picking the right team
  • First Impressions
  • Making the interview
  • Keeping the job

9
Benefits of being with Jack
  • Known to fire the bottom 10 of his managers
    every year
  • Neutron Jack
  • Reward the top 20 with bonuses and stock
    options.
  • Expanded employee stock options to include
    nearly one third

10
Benefits of being with Jack
Opportunity to spread their wings
  • Beliefs
  • Boundaries within a company stifle the flow of
    information and ideas among employees
  • Close supervision, control, and bureaucracy kill
    competitive spirit
  • We are constantly amazed by how much people will
    do when they are not told what to do by
    management.
  • - Jack Welch

11
Looking up to Jack
12
Zero to Hero
  • Made it to the top despite his working class
    background
  • Set a new model for the corporation
  • Created informality at a big company
  • Calls GE the Grocery Store
  • Manages GE like a small organization you dont
    get hung up on zeros

13
Numbers to Prove It
  • Has created more share holder value than anyone
    in history .
  • He increased the market value of GE from 14
    billion to 410 billion
  • Reshaped GE with more than 600 acquisitions and
    pushed to enter newly emerging markets.

14
Unique Outlook
  • You Cant grow long term if you cant eat short
    term Jack Welch
  • Anybody can manage short. Anybody can manage
    long. Balancing those two things is what
    management is Jack Welch
  • Fierce believer in the power of his people
  • Spends more than half his time devoted to people
    issues

15
Quote that Defines the Man
  • Hes able to get people to give more of
    themselves because of who he is. He lives the
    American dream. He wasnt born with a silver
    spoon in his mouth. He got himself out of the
    pile. He didnt just show up - Brian
    Nailor

16
Jack Welch Style Where does it come from?
17
Historical SignificanceTheories and Concepts
  • Elements of Management
  • Jules Henri Fayol (1841-1925)
  • William H. Newman (1909-2002)
  • George R. Terry (1909-1979)
  • Douglas McGregor (1906-1964)
  • Peter F. Drucker (1909-2005)
  • Organizational Structure
  • Chester I. Barnard (1886-1961)
  • Leadership and Motivation
  • Abraham Maslow - Hierarchy of Needs
  • David McClelland (1917-1998) Needs Theory
  • Equity Theory
  • James McGregor Burns (1918-) Transformational
    Leadership

18
Elements of Management
  • Function of Management
  • Plan
  • Organize
  • Command
  • Coordinate
  • Control
  • Key Factors
  • Management Skills can be Trained
  • Eliminate Incompetent Employees
  • Foster Unity, Energy, Initiative, Loyalty
  • Theory Y
  • Management by Objectives

19
Organizational Structure
  • Chester I. Barnard (1886-1961)
  • Define Organizational Purpose
  • Communication
  • Group Dynamics - Recruiting
  • Informal Environment High Morale
  • Recognition and Rewards
  • Maintain Performance and Training

20
Leadership and MotivationalInfluences
  • Abraham Maslow - Hierarchy of Needs
  • Esteem
  • Self Actualization
  • David McClelland (1917-1998) Needs Theory
  • Power
  • Affiliation
  • Achievement
  • Equity Theory
  • James McGregor Burns (1918-) Transformational
    Leadership
  • Change Leadership
  • Employee Empowerment

21
Continuing to Leave FootprintsIn Business
Leadership
22
Jack is Business
  • Jack Welch LLC.
  • A partner for the private equity firm Clayton,
    Dubilies and Rice.
  • Consultant for Interactive Corp
  • Jack also contributes to a couple business
    television networks such as MSNBC and CNBC.
  • Jack and Suzy also have their own website that
    offers a variety of helpful resources related to
    business management.

23
Professor Jack Welch
  • January 25th, 2006
  • Sacred Heart University Business became the John
    F. Welch College of Business.
  • September, 2006
  • MIT Sloan School of Management.
  • July, 2009
  • Jack Welch Management Institute _at_ Chancellor
    University in Ohio.

24
Written by Jack Welch
  • Winning was a book he co-wrote with his wife Suzy
    Welch
  • Winning the answers confronting 74
  • of the toughest questions in business today
  • Jack, straight from the gut
  • 1 National Best Seller List.
  • The Welch Way a weekly news column
  • co-written by Jack Suzy Welch.
  • Published in approximately
  • 45 various business magazines

25
The Living Business Legend
26
Summary
  • Competitive childhood events developed the
    foundations to his leadership styles throughout
    his business career.
  • His energetic and passionate leadership style
    paved the road to GEs success leaving no room
    for nonsense.
  • His leadership style transformed GE and redefined
    the approach of managing a large corporation.
  • Welchs style culminated many of the best
    management theories. His contributions will
    undoubtedly make their mark on progressive
    management for many years to come.
  • Jack Welch has become a huge role in making his
    leadership styles live beyond himself.

27
WHAT LEADERS DO
  • -Leaders relentlessly upgrade their team,
    using every encounter as an opportunity to
    evaluate, coach, and build self-confidence.
    -Leaders make sure people not only see the
    vision, they live and breathe it. -Leaders get
    into everyone's skin, exuding positive energy and
    optimism. -Leaders establish trust with candor,
    transparency, and credit. -Leaders have the
    courage to make unpopular decisions and gut
    calls. -Leaders probe and push with a curiosity
    that borders on skepticism, making sure their
    questions are answered with action. -Leaders
    inspire risk taking and learning by setting the
    example. -Leaders celebrate. - Adopted from
    "Winning" by Jack and Suzy Welch (HarperCollins)

28
Resources
  • "GE Past Leaders John F. Welch Jr., Biography."
    GE imagination at work. Web. 04 Oct. 2009.
    lthttp//www.ge.com/company/history/bios/john_welch
    .htmlgt.
  • "Sitemap - Jack Welch Management Institute." Jack
    Welch Management Institute at Chancellor
    University. Web. 16 Sept. 2009.
    lthttp//www.jwmi.com/what_leaders_do.htmlgt.
  • "The Welch Way - Jack Welch Biography." The Welch
    Way - The Official Website of Jack Welch and Suzy
    Welch. Web. 16 Sept. 2009. lthttp//www.welchway.co
    m/About-Us/Jack-Welch/Biography.aspxgt.
  • Wren, Daniel A., and Arthur G. Bedeian. The
    Evolution of Management Thought. 6th ed. Hoboken,
    NJ John Wiley Sons, Inc., 2009. Print.
  • Baldwin, Timothy T., William H. Bommer, and
    Robert S. Rubin. Developing Management Skills -
    What Great Managers Know and Do. New York
    McGraw-Hill Irwin, 2008. Print.
  • Byrne, John A. "06/08/98 HOW JACK WELCH RUNS GE."
    BusinessWeek - Business News, Stock Market
    Financial Advice. Business Week Magazine, 8 June
    1998. Web. 16 Sept. 2009. lthttp//www.businessweek
    .com/_at__at_1w2fjIQAHbJcdAAA/1998/23/b3581001.htmgt.
  • "Assessing Jack Welch." Wally Bock's Monday Memo
    Newsletter Author, Keynote Speaker. 10 Sept.
    2001. Web. 16 Sept. 2009. lthttp//www.mondaymemo.n
    et/010910feature.htmgt.
  • "Jack Welch Management Evangelist." BusinessWeek
    - Business News, Stock Market Financial Advice.
    Web. 16 Sept. 2009. lthttp//www.businessweek.com/m
    agazine/content/04_43/b3905032_mz072.htmgt.
  • Thank You! Are there any questions or comments?
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