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The Welch Way
Book

The Welch Way

24 Lessons From The World's Greatest CEO

Jeffrey A. Krames
McGraw-Hill, 2004
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Editorial Rating

7

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Recommendation

Jack Welch, the former chairman of General Electric, is still a heroic managerial figure to many businesspeople, and his wisdom has found its way into the book market in many and various ways. Of course, numerous books are available about Six Sigma, the managerial philosophy that Welch made famous. But Six Sigma was only part of Welch’s legacy. In this slim guide to the counsel of the man who earned the sobering sobriquet "Neutron Jack," author Jeffrey Krames summarizes Welch’s philosophy in 24 leadership principles, followed by brief notes and exercises for training managers. getAbstract.com recommends this admiring condensation of Jack Welch’s managerial strategies as an introductory summary which may whet your appetite for a deeper look at Welch’s distinctive take on corporate leadership.

Summary

Meet Neutron Jack

Jack Welch took the helm at General Electric (GE) in 1981, when he was only 45 years old. His stated goal was to turn GE into the "world’s most competitive enterprise." The eighth and youngest CEO in the history of the company, he knew this wouldn’t be easy. He began, of course, by cutting jobs and selling subsidiary businesses. So draconian were his cuts that he earned the nickname "Neutron Jack," after the bomb that kills people but leaves buildings standing. He set out to eliminate the bureaucracy, unplug bottlenecks and generate a free flow of information, ideas and action throughout one of the most highly valued companies in the world.

A few simple principles guided Welch on his daunting but ultimately successful campaign to turn around, in fact, to transform, GE. Welch’s 24 managerial axioms are: "1) Lead; 2) Get less formal; 3) Blow up bureaucracy; 4) Face reality; 5) Simplify; 6) See change as an opportunity; 7) Lead by energizing others; 8) Defy tradition; 9) Make intellect rule; 10) Pounce every day; 11) Put values first; 12) Manage less; 13) Involve everyone; 14) Rewrite your agenda; 15) Live speed; 16) Instill confidence; 17) Set stretch...

About the Author

Jeffrey A. Krames is the author of The Rumsfield Way and The Jack Welch Lexicon of Leadership. His work has been published in The New York Times and The Wall Street Journal, and he has made appearances on CNN, Fox News and CNBC.

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