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The success story of Jack Welch
Lessons from Welch
August 5, 2008
"Strong managers who make tough decisions to cut jobs provide the only true job security in today's world. Weak managers are the problem. Weak managers destroy jobs." --
Jack Welch
An organisation's ability to learn, and translate that learning into action rapidly, is the ultimate competitive advantage.
Welch professed the four E's of leadership for business success: Energy, Energize, Edge, and Execution.
Business leaders must always be able to lead and inspire and show the path for other to follow.
Either perform to your best or leave.
Speed an indispensable ingredient of competitiveness.
Managers should learn to become team players.
Work must be fun. No one should do a job that they don't like or enjoy doing.
Confidence spells success. A confident workforce is the backbone of a successful organisation.
One need to be among the top to survive. Be either No.1 or 2 in the respective markets or close down.
Only new ideas can help improve business. Focus on new ideas, he encouraged brainstorming of ideas from all sections.
Always stick to simple messages and simpler designs which can capture the market easily.
Change is crucial for any business. The willingness to change is a strength.
Focus on building a great team and sharing ideas.
Image: Electric light bulbs are displayed at City Lights lighting store. | Photograph: Justin Sullivan/Getty Images
Also read: Of Buffett's mistakes and wisdom
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