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Home > Biography > Business > Jack
Jack
by Welch, Jack / Byrne John a., Barnicle, Mike
 
 
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Jack
As CEO of General Electric for the past twenty years, Jack Welch has built its market cap by over $500 billion and established himself as the most admired business leader in the world. His championing of initiatives like Six Sigma quality, globalization, and e-business have helped define the modern corporation. At the same time, he's a gutsy boss who has forged a unique philosophy and an operating system that relies on a "boundaryless" sharing of ideas, an intense focus on people, and an informal, give-and-take style that makes bureaucracy the enemy.

In anecdotal detail and with self-effacing humor, Jack Welch gives us the people (most notably his Irish mother) who shaped his life and the big hits and the big misses that characterized his career. Starting at GE in 1960 as an engineer earning $10,500, Jack learned the need for "getting out of the pile" when his first raise was the same as everyone else's. He stayed out of the corporate bureaucracy while running a $2 billion collection of GE businesses -- in a sweater and blue jeans -- out of a Hilton in Pittsfield, Massachusetts.

After avoiding GE's Fairfield, Connecticut, headquarters for years, Jack was eventually summoned by then Chairman Reg Jones, who was planning his succession. There ensued one of the most painful parts of his career -- Jack's dark-horse struggle, filled with political tension, to make it to the CEO's chair. A hug from Reg confirmed Jack was the new boss -- and started the GE transformation.

Welch walks us through the "Neutron Jack" years, when GE's employment fell by more than 100,000 as part of a strategy to "fix, sell, or close" each business... and how he used the purchase of RCA to provide a foundation for the company's future earnings.

There were mistakes, too -- and Jack confronts them openly. In "Too Full of Myself," he describes one of the biggest blunders: the purchase of Kidder Peabody, which ran counter to GE's culture.

The riveting story of



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Title of ebook: Jack
ISBN: 9780759545618
parent-ISBN: 9780446528382
Publisher: Warner Business Books
Published: 09-2001
Released online for download: 08-23-2002
Author of eBook: Welch, Jack/Byrne John a.
Author of eBook: Barnicle, Mike
Author: Byrne, John A.

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Jack: Straight from the Gut


Chapter One

Building Self-Confidence

It was the final hockey game of a lousy season. We had won the first three games in my senior year at Salem High School, beating Danvers, Revere, and Marblehead, but had then lost the next half dozen games, five of them by a single goal. So we badly wanted to win this last one at the Lynn Arena against our archrival Beverly High. As co-captain of the team, the Salem Witches, I had scored a couple of goals, and we were feeling pretty good about our chances.

It was a good game, pushed into overtime at 2-2.

But very quickly, the other team scored and we lost again, for the seventh time in a row. In a fit of frustration, I flung my hockey stick across the ice of the arena, skated after it, and headed back to the locker room. The team was already there, taking off their skates and uniforms. All of a sudden, the door opened and my Irish mother strode in.

The place fell silent. Every eye was glued on this middle-aged woman in a floral-patterned dress as she walked across the floor, past the wooden benches where some of the guys were alr ... read full excerpt from: Jack ebook



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