→ Jack Welch transformed GE from a purely manufacturing company into a more diversified company with an increasingly important service component. In his 1996 annual report, Welch wrote: "Services is so great an → opportunity for the Company that our vision for the next century is GE that is 'a global service company that also sells high-quality products.'" When asked if GE was going to become a more product-oriented or service-oriented company, Welch replied, "It's got to be a big combination... It's an integrated game."