GE and Jack Welch Leadership and Entrepreneurship Case Study
John Francis Welch Jr. better known as Jack Welch needs no introduction as a successful entrepreneur and leader. Jack Welch took a company and transformed it into a world-class performer and the most admired one too. Jack Welch was the the CEO from 1981 to September 2001 of General Electric Corporation (GE) . When Jack Welch handed over control of GE, GE was operating in over 100 countries with about 340,000 employees and $130 billion in annual revenues.
GE entered into diversified businesses ranging from aircraft engines to medical diagnostics, from lighting to appliances, from nuclear power to broadcasting (GE owns NBC) and from plastics to financial services. Most of these businesses were added to GE through almost 1000 odd acquisitions made when Jack Welch was its CEO.
More on Jack Welch’s Principles follows….
Anti-Bureaucracy
“If you’re not No. 1 or 2 in your field, get out.” This statement by Jack Welch sums up his business philosophy. Jack made GE follow this principle by operating it like a small business in spite of its size. …to be continued.