John Francis Welch Jr., better known as Jack Welch, is an American chemical engineer, former business executive and writer. He went on to become one of the most successful chief executives in American corporate history. He attended the University of Massachusetts Amherst, where he studied chemical engineering and then went to acquire his post graduate degree and doctorate in the same subject from the University of Illinois. Welch started working for General Electric in 1960 as a chemical engineer and quickly rose up through the ranks to become the vice president in the company in 8 years. Later, he became the head of strategic planning, a post he held for six years. However, his most significant time at General Electric was from 1981 and 2001 that he spent as the chief executive of the company. During his tenure as the CEO, Welch turned the already huge corporation’s growth to levels that were unheard of. According to some estimates, the company grew 4000% during those twenty years. Welch has been without doubt one of the most important men in American business and is regarded as a legend. Let’s dive into some business and life lessons from one of the world’s best CEOs. We have curated Jack Welch's quotes from his sppeches, life and writings that you would find interesting. Read on the compilation of thoughts and quotations by Jack Welch.
The 1980s will seem like a walk in the park when compared to new global challenges, where annual productivity increases of 6% may not be enough. A combination of software, brains, and running harder will be needed to bring that percentage up to 8% or 9%.
Public hangings are teaching moments. Every company has to do it. A teaching moment is worth a thousand CEO speeches. CEOs can talk and blab each day about culture, but the employees all know who the jerks are. They could name the jerks for you. It's just cultural. People just don't want to do it.
In order to lead a country or a company, you've got to get everybody on the same page and you've got to be able to have a vision of where you're going. America can't have a vision of health care for everybody, green economy, regulations - can't have a bunch of piece-meal activities. It's got to have a vision.
I've learned that mistakes can often be as good a teacher as success.
If you don't have public hangings for bad culture in a company, if you don't take people out and let them say, they went home to spend more time with the family. It's crazy.
There are only three measurements that tell you nearly everything you need to know about your organization's overall performance: employee engagement, customer satisfaction, and cash flow...It goes without saying that no company, small or large, can win over the long run without energized employees who believe in the mission and understand how to achieve it...
In my lifetime, Mitt Romney is the most qualified leader I've ever seen run for the presidency of the United States.
Our behavior is driven by a fundamental core belief: 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.
There are only two sources of competitive advantage: the ability to learn more about our customers faster than the competition and the ability to turn that learning into action faster than the competition.
Too often we measure everything and understand nothing. The three most important things you need to measure in a business are customer satisfaction, employee satisfaction, and cash flow. If you’re growing customer satisfaction, your global market share is sure to grow, too. Employee satisfaction gets you productivity, quality, pride, and creativity. And cash flow is the pulse—the key vital sign of a company.