Winning -- Jack Welch
I Just finished one more book, "Winning" written by Jack Welch. For those who don't know Jack welch was the CEO of GE from 1981 to 2001, the market capitalization of GE raised from $14 Billion to $410 billion during his tenure. He adopted Six Sigma from Motorola and famous for his Appraisal policy. He suggests corporates to fire the bottom 10% and give more benefits to top 20%.
Below are some of the quotes from his book Winning...
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What is mission ? What is Value ? What difference the difference makes ?
Mission: What do you call Winning? Values: How you want to Win ?
You have a choice, global recession can be treated with either Layoff's or Innovations.
Just because you are the boss, doesn't mean you are the source of the knowledge.
HIRING
Hiring good people is hard, hiring great people is brutally hard.
Rules of Hiring
Integrity: Genuine of the candidate
Intelligence:
Maturity: confidence, not arrogance.
4 E's.
E - Positive Energy
E - Energize Others.
E - Edge, courage to make Yes or No decisions.
E - Executive, ability to get the job done.
1 P - Passion
Imagine the unimaginable.
HR should be like Pastor-Parent
Make organization flatter. Each manager should have at least 10 direct reports.
Every employee should know how a company is doing.
CHANGE:
Managing a change is like moving mountains.
Attach every change intitative to a clear purpose or goal. Change for changes sake is stupidity.
We have already cut the fat, you are asking us to cut the bone.
Have courage and fearlessness about the unknown.
Remove the resisters , even if their performance is satisfactory.
He had no wind at his back, but he did have right people by his side.
There are some change killers, cut them off early.
Change means seizing every opportunity, even ones brought by adversity.
CRISIS
If people always followed the rules, there will be no police, court, jail.
Crisis demands stringent balancing act from you.
Crisis might not end up fair and right.
Oh-God-No to Yes-We Are Fine.
1. Assume the problem is worse than it appear
2. Assume there are no secrets in the world and everyone will eventually find everything.
3. Assume your handling of the crisis will be portrayed in the worst possible light.
4. Almost no crisis ends without blood on the floor.
5. Assume Crisis will make you more stronger for what happened.
Crisis should make you immune, the way child can not get the chicken pox again.
STRATEGY
When it comes to strategy, ponder less and do more.
Strategy more of art than science.
When Jack Welch became CEO of GE in 1981, the strategy he announced was, Be No.1 or No.2 in market, Fix, sell or close to get there.
Be granular, know what each competitor eats for breakfast.
You cant just copy, but you can imitate and improve.
Companies and people love to share their success stories. All you have to do is ask.
For a successful venture you should have the best people not the most available people.
You can live life Forward and understand it backward.
NEW JOB
When you are considering a new job checkout the opportunity rather than the pay.
Any new job should feel like a stretch, not a lay up.
All careers, no matter how scripted they appear, are shaped by some element of pure chance.
why you play the cards so close to the vest.
Manage your relationship with your subordinates with the same carefulness that you manage the one with your boss.
Don't let set backs break your stride.
smack yourself in the head, if you start taking yourself too seriously.
The world has jerks and some of them get to be boss.
people generally overrate the performance and popularity by a factor of two or more.
It took an act of god to get rid of him.
In a perfect world, all bosses will be perfect. There is no perfect world.
Do as i say, not as i did.
Its so personal and so universal.
BEST PRACTICES:
Keep your head in whatever game you are at. Compartmentalize your life.
Say no to anything that is not part of your work-life balance plan.
cost, quality and service are the three war horses for any company.
you cant win wringing your hands.
When you say NO, it should sound like YES.
Below are some of the quotes from his book Winning...
====================================================================================
What is mission ? What is Value ? What difference the difference makes ?
Mission: What do you call Winning? Values: How you want to Win ?
You have a choice, global recession can be treated with either Layoff's or Innovations.
Just because you are the boss, doesn't mean you are the source of the knowledge.
HIRING
Hiring good people is hard, hiring great people is brutally hard.
Rules of Hiring
Integrity: Genuine of the candidate
Intelligence:
Maturity: confidence, not arrogance.
4 E's.
E - Positive Energy
E - Energize Others.
E - Edge, courage to make Yes or No decisions.
E - Executive, ability to get the job done.
1 P - Passion
Imagine the unimaginable.
HR should be like Pastor-Parent
Make organization flatter. Each manager should have at least 10 direct reports.
Every employee should know how a company is doing.
CHANGE:
Managing a change is like moving mountains.
Attach every change intitative to a clear purpose or goal. Change for changes sake is stupidity.
We have already cut the fat, you are asking us to cut the bone.
Have courage and fearlessness about the unknown.
Remove the resisters , even if their performance is satisfactory.
He had no wind at his back, but he did have right people by his side.
There are some change killers, cut them off early.
Change means seizing every opportunity, even ones brought by adversity.
CRISIS
If people always followed the rules, there will be no police, court, jail.
Crisis demands stringent balancing act from you.
Crisis might not end up fair and right.
Oh-God-No to Yes-We Are Fine.
1. Assume the problem is worse than it appear
2. Assume there are no secrets in the world and everyone will eventually find everything.
3. Assume your handling of the crisis will be portrayed in the worst possible light.
4. Almost no crisis ends without blood on the floor.
5. Assume Crisis will make you more stronger for what happened.
Crisis should make you immune, the way child can not get the chicken pox again.
STRATEGY
When it comes to strategy, ponder less and do more.
Strategy more of art than science.
When Jack Welch became CEO of GE in 1981, the strategy he announced was, Be No.1 or No.2 in market, Fix, sell or close to get there.
Be granular, know what each competitor eats for breakfast.
You cant just copy, but you can imitate and improve.
Companies and people love to share their success stories. All you have to do is ask.
For a successful venture you should have the best people not the most available people.
You can live life Forward and understand it backward.
NEW JOB
When you are considering a new job checkout the opportunity rather than the pay.
Any new job should feel like a stretch, not a lay up.
All careers, no matter how scripted they appear, are shaped by some element of pure chance.
why you play the cards so close to the vest.
Manage your relationship with your subordinates with the same carefulness that you manage the one with your boss.
Don't let set backs break your stride.
smack yourself in the head, if you start taking yourself too seriously.
The world has jerks and some of them get to be boss.
people generally overrate the performance and popularity by a factor of two or more.
It took an act of god to get rid of him.
In a perfect world, all bosses will be perfect. There is no perfect world.
Do as i say, not as i did.
Its so personal and so universal.
BEST PRACTICES:
Keep your head in whatever game you are at. Compartmentalize your life.
Say no to anything that is not part of your work-life balance plan.
cost, quality and service are the three war horses for any company.
you cant win wringing your hands.
When you say NO, it should sound like YES.
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