A true classic. Read this almost two decades ago and the many lessons learnt remain firmly stuck in my mind. An invaluable read for anyone looking to understand business at the highest levels.
Downrated from 5* to 1* due to economic logic which was based on that "factories should float between countries to take advantage of lowest costs, be they due to under-valued exchange rates, low taxes, subsidies, or a surfeit of cheap labor.
Globalization has made Welch’s barge a reality. However, in doing so it has made capital mobility rather than country comparative advantage the engine of trade. And with that change, “free trade” increasingly trades jobs and promotes downward wage equalization." T. Palley
It had some good nuggets about corporate america...and how he ran GE. It's an autobiography, but 98% about his work at GE, so sometimes it got sloooow. And over my head when they talk about stock options and deals. And Six Sigma. A glossary in the back would have been helpful.
I read the Chinese version in high school after a teacher recommended it. This book is the reason I decided that my only goal in college is to find out what I want to do in the rest of my life, so I tried many categories of classes. Completely ruined my GPA.
It might look awkward to rate 1 star for the book, and you can totally blame my high expectations for from the book for it. Before picking up this book, i had a lot of hype build around the amazing approach GE might have around building great leaders. And kept looking at the book with that lens, and probably got disappointed there in. This autobiography is about a lot of chest thumping done by the writer, and mostly an index of different names in the organization and there positions, not to forget the chronology of major events in the 40 years of Jack Welch with GE.
Dr. Welch wrote a bestselling book, telling the GE's business story in North America!!! The main question to understand is: What is next to do for the American interested readers???!!! The answer is clear: To buy and read the Wealth Management Time book by Viktor O. Ledenyov and Dimitri O. Ledenyov, because it will help everyone to become a wealthy investor!!!
Welch found great people, in many ways, and he felt everyone you meet is an interview. He characterized the traits that made him successful and that he sought in others as "The Four E's": 1. Energy of personality, 2. the Enthusiasm to communicate that energy to others, 3. the Edge to make tough decisions, and 4. the Execution to see those decisions implemented. The Four E's were connected by the "Big P: Passion".
Welch's integrity to this vision of employee excellence is seen repeatedly in the book when he promotes unrecognized and unrewarded employees because he saw the four E's and big P in them, where others did not.
Welch dove into each project with seemingly inexhaustible passion and zeal. He brought the same dedication to implementing each company-wide program he initiated: Globalization, Growing Services, Six Sigma, and E-business.
I read this book back in 2004, so my memory is a tad foggy. I do recall enjoying the story format woven with blunt honesty by Jack Welch. Some business principles in leadership and how he chose to run GE.
A must read for anyone working in corporate trying to decipher how to go from good to great. Sticking to some basic principles of integrity, meritocracy, and honesty.