Strategies of Market Leaders

25 Lessons from Jack Welch

Jack Welch's 3Ss of Winning in Business

Self-confidence, Simplicity, Speed

 

Lessons from Jack Welch, Former CEO of GE          Executive Summary by Vadim Kotelnikov

 

 

Prescription for Winning

Jack Welch summed up his prescription for winning in three words:

25 Lessons from Jack Welch: LIVE SPEED 25 Lessons from Jack Welch: SIMPLIFY The Power of Simplicity 25 Lessons from Jack Welch: INSTILL CONFIDENCE Flat Organization Fast Decision Making Lessons from Jack Welch: Articulate Your Vision Fast To Market Fast Company Confidence 3Ss of Winning in Business

Self-confidence

Benefits

Self-confident people don’t need to wrap themselves in complexity and all that clutter that passes for sophistication in business. Self-confident leaders produce simple plans, speak simply, and propose big clear targets.

Challenges

The root of many of bureaucracy ills is insecurity. Insecurity makes people resist change because they see change only as a threat, never as an opportunity.

Action

Give people a voice, get them talking and listening to and trusting one another.

Cultivate self-confidence among your leaders by turning them loose, giving them independence and resources, and encouraging them to take big swings.

Provide an atmosphere that affords employees an opportunity to dream, risk, and win – and ultimately earn self-confidence.

Inspiring Culture: 5 Elements

Simplicity

Benefits

Simplicity is practically an art form with many definitions. To an engineer, it's clean functional designs with fewer parts. It means judging a process not by how sophisticated it is, but how understandable it is to those who must make it work. In marketing it means clear messages and clean proposals to consumers and industrial customers. And, most importantly, on an individual, interpersonal level it takes the form of plain-speaking, directness – honesty.

Simplicity is indispensable to a business leader's most important function: creating and projecting a clear vision.

Simple messages travel faster.

Simple designs reach the market faster.

Challenges

You can't believe how hard it is for people to be simple, how much they fear being simple.

One of the most difficult things for a manager to do is to reach that all-important threshold of self-confidence in which being simple is comfortable.

Action

Urge everyone in the company to have the courage to be simple.

Create an atmosphere in the organization where people feel not only free, but obliged to demand clarity and purpose from their leaders.

Speed

Benefits

If you're not fast you can't win. Speed is everything. It is the indispensable ingredient of competitiveness.

Challenges

Bureaucracy is terrified by speed and hates simplicity.

People have to think on their feet.

Action

Decisions at virtually every level should be made in minutes, not days or weeks. Decisions must be made face-to-face, not memo-to-memo. Forests of meaningless paper trails and approvals must be eliminated.

Decrease control to increase speed.

Reduce hierarchical layers to speed communication and get products to markets more quickly.

 

 

25 Lessons from Jack Welch (Ten3 Mini-course)         

 

References:

  1. Jack Welch and the GE Way, Robert Slater

  2. The Welch Way, Jeffrey A. Krames

  3. Winning, Jack Welch and Suzy Welch

  4. Jack Welch on Leadership, Robert Slater