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Creating the worlds most competitiveenterprise
2005 Vadim Kotelnikov, Founder, Ten3 Business e-Coach, www.1000ventures.com. October 2005
25 Lesso nsfrom Jack We lch
Lessons from the legendary former CEO of GE,whose management innovations have made him the most
influential CEO of his era
Ten3 Business e-Coach the worlds leading source ofinspiration, innovation, and unlimited growth!
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Lead More, Manage Less
Build a Winning Organization
GE Success Story: Flash Points
25 Lessons from Jack Welch
Harness Your People for Competitive Advantage
Build a Market-Leading Company
25 Lessons from Jack WelchCreating the worlds most competitive enterprise
2005 Vadim Kotelnikov, Founder, Ten3 Business e-Coach, www.1000ventures.com. October 2005
http://www.1000ventures.com/vk.htmlhttp://www.1000ventures.com/vk.htmlhttp://www.1000ventures.com/http://www.1000ventures.com/http://www.1000ventures.com/vk.htmlhttp://www.1000ventures.com/vk.html8/14/2019 25 Lessons Jack Welch Ten3 Mini Course
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anagem en y ea ers p: ucc essSt oryJack Welch
GE MarketCapitalization
US$13 billion
US$500 billion
2000
Jack Welchsteps down
as CEO of GE
1981
Jack Welchappointed
as CEO of GE
1. Develop a vision for the
business2. Change the culture to
achieve the vision
3. Flatten the organization
4. Eliminate bureaucracy
5. Empower individuals
6. Raise quality and
efficiency
7. Eliminate boundaries
Welchs Seven-PointProgram for Managementby Leadership
More information at 1000ventures.com: Jack Welch a Corporate Change Leader
http://www.1000ventures.com/business_guide/crosscuttings/cs_leadership_welch.htmlhttp://www.ge.com/oac/appliance.htmhttp://www.1000ventures.com/business_guide/crosscuttings/cs_leadership_welch.html8/14/2019 25 Lessons Jack Welch Ten3 Mini Course
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ac e c orpora e a ngeLead erWelch s Tr ademark Me ssa ges Business is simple.
Don't make business overly complicated.
Face reality, then act decisively. Don't be afraid of change.
Change before you have to.
Fight bureaucracy.
Use the brains of your workers.
Discover who has the best ideas, and put those ideasinto practice.
1000ventures.com
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e a ng rga n z a onaTransf orm at ionCre atin g an E xt raord in ary Or ganiza t ion
Redesigning the role of the leader in the neweconomy: creating followers throughcommunicating a vision, and establishingopen, caring relations with every employee
Creating an open, collaborative workplacewhere everyone's opinion is welcome
Empowering senior executives to run far-flungbusinesses in entrepreneurial fashion
Liberating the workforce; making everybody aparticipant through improving verticalcommunication and employee empowerment
Leading Changethrough the GE's Organization
Welchs prescription
for winning in business
1. Speed
2. Simplicity
3. Self-confidence
More information at 1000ventures.com: Jack Welch a Corporate Change Leader
http://www.1000ventures.com/business_guide/crosscuttings/cs_leadership_welch.htmlhttp://www.1000ventures.com/business_guide/crosscuttings/cs_leadership_welch.html8/14/2019 25 Lessons Jack Welch Ten3 Mini Course
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GE Leadership AssessmentSurvey(LES): Characteristics
2. Vision
3. Customer / Quality Focus
4. Integrity
5. Accountability / Commitment
6. Communication / Influence
7. Shared Ownership
8. Team Builder / Empowerment
9. Knowledge / Expertise / Intellect
10. Initiative / Speed
11. Global Mind-setMore information at 1000ventures.com: GEs Leadership Assessment Survey (LES)
Four Essential Tasks2. Recognize the importance of
leadership to your businesssuccess
3. Have in place a specificprocess for developingleadership talent
4. Define leadership attributesbehaviorally, for the benefit offuture leaders
5. Use the leadershipcompetencies stipulated inthe Leadership EffectivenessSurvey (LES) to integrate anumber of managementpractices with the purpose ofbuilding quality of leadership.
Le adership De velop ment at GEA S trategic D uty of A l l S enior Leaders
http://www.1000ventures.com/business_guide/crosscuttings/tests_leadership_ef_byge.htmlhttp://www.1000ventures.com/business_guide/crosscuttings/tests_leadership_ef_byge.htmlhttp://www.1000ventures.com/business_guide/crosscuttings/tests_leadership_ef_byge.htmlhttp://www.1000ventures.com/business_guide/crosscuttings/tests_leadership_ef_byge.html8/14/2019 25 Lessons Jack Welch Ten3 Mini Course
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Sha red Corp orat e V al uesGE V alues G uideGE Leaders... Always with Unyielding Integrity:
Have a Passion for Excellence and Hate Bureaucracy
Are Open to Ideas from Anywhere... and Committed to Work-Out
Live Quality... and Drive Cost and Speed for Competitive Advantage
Have the Self-Confidence to Involve Everyone and Behave in aBoundaryless Fashion
Create a Clear, Simple, Reality-Based Vision... and Communicate Itto All Constituencies
Have Enormous Energy and the Ability to Energize Others Stretch... Set Aggressive Goals... Reward Progress... Yet
Understand Accountability and Commitment
See Change as Opportunity... Not Threat
Have Global Brains... and Build Diverse and Global TeamsMore information at 1000ventures.com: Shared Values
http://www.1000ventures.com/business_guide/crosscuttings/shared_values.htmlhttp://www.1000ventures.com/business_guide/crosscuttings/shared_values.htmlhttp://www.1000ventures.com/business_guide/crosscuttings/shared_values.htmlhttp://www.1000ventures.com/business_guide/crosscuttings/shared_values.html8/14/2019 25 Lessons Jack Welch Ten3 Mini Course
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ExecutionThey are action-oriented, and
are focused on getting results
EdgeThey have a competitive edge
and a will to win
EnergizeThey energize teams, and
don't intimidate them
EnergyThey have tremendous
personal energy
Le ssons fro m Jack Welc hTh e 4 E s of L ead er sh ip
1000ventures.com
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Going for the leap Radical innovation
Diversification
Venture investing Acquisitions
Shining the incremental
Lean organization
GE Work-Out
Quality Management: Six Sigma
GE G rowth Str ateg iesShun the incremental and go for the leap
- Jack Welch
More information at 1000ventures.com: Sustainable Growth Strategies
http://www.1000ventures.com/business_guide/sustainable_growth.htmlhttp://www.1000ventures.com/business_guide/sustainable_growth.htmlhttp://www.1000ventures.com/business_guide/sustainable_growth.htmlhttp://www.1000ventures.com/business_guide/sustainable_growth.html8/14/2019 25 Lessons Jack Welch Ten3 Mini Course
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St rate gy Form ulat ionGE M ul t ifa cto r Bu sine ss P or tf oli o Ma trix
1000ventures.com
Invest /
Grow
Invest /
Grow
Invest /Grow
Selective
Investment
Harvest /Divest
Harvest /Divest
Harvest /Divest
LOW MEDIUM HIGH
Industry Attractiveness
MEDIUM
LOW
HIGH
Busin
essPosition
Source: GE & McKinsey & Co.
SelectiveInvestment
SelectiveInvestment
Companies win when their managers make a clear and meaningfuldistinction between top- and bottom-performing businesses and people,when they cultivate the strong and cull the weak. Jack Welch
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Quality M an agem ent: S ix S igmaCa se in Po int : Impa ct of S ix Si gma I mp lem ent at ionat GE
11%14%
17%
13%
Revenue
increased
Profits
increased
Earning per
share increased
Operating
margins
increased
Results achieved over the first two years (1996-1998)
More information at 1000ventures.com: Six Sigma
"We want to change the competitive landscape by being not just betterthan our competitors, but by taking quality to a whole new level.
Jack Welch
http://www.1000ventures.com/business_guide/mgmt_quality_six_sigma.htmlhttp://www.1000ventures.com/business_guide/mgmt_quality_six_sigma.htmlhttp://www.1000ventures.com/business_guide/mgmt_quality_six_sigma.html8/14/2019 25 Lessons Jack Welch Ten3 Mini Course
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Six Sigm a Im plem en tation at G EMakin g t he S ix S igma Proce ss WorkFour MAIC Steps Measure
Analyze
Improve Control
Five Corporate Measures2. Customer Satisfaction
3. Cost of Poor Quality
4. Supplier Quality
5. Internal Performance
6. Design for Manufacturability
Everyday Six Sigma
Plant managers can use Six Sigma to reduce waste, improveproduct consistency, solve equipment problems or create capacity.
Human resources managers can use it to reduce the cycle time for
hiring employees.
Regional sales managers can use it to improve forecast reliability,
pricing strategies or pricing variation.1000ventures.com
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or - uCre atin g th e Sp irit of a St ar t-U p Firm in a La rg eEnterprise
1000ventures.com
Key Benefits of the Work-Out
Reduces bureaucracy
Empowers people
Continuously reinvents ever-more-effective ways of doingbusiness
At GE, Work-Out "Town Meetings" gave the corporation access to anunlimited resource of imagination and energy of its talented employees.
With Work-Out as part of its DNA, GE hasbecome one of the most innovative,
profitable, and admired companies on earth.
Work-Outs Four Major Goals
2. Build trust
3. Empower employees
4. Eliminate unnecessary work
5. Create a new paradigm
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GE Work-O utSe ven Ste ps to Im plemen t W or k- Out
1000ventures.com
1. Chose the issues to be discussed.
2. Select the appropriate cross-functional team to tackle the problem.
3. Chose a "champion" who will see any Work-Out recommendationthrough to implementation.
4. Let the team meet for three days, drawing up recommendations toimprove your company's processes.
5. Meet with managers, who make decisions on the spot about eachrecommendation.
6. Hold more meetings as required to pursue the implementation of therecommendations.
7. Keep the process going, with these and other issues andrecommendations.
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No of Ventures Invested
0
300
600
1995 2000 2005
Nature of Venture Investments
(2002)
15%
85%
Strategic ValueInvestments
Investments inAreas Unrelatedto GE
Established in 1995, General Electric (GE) Equity, a business unit within GE
Capital, invests around $1.5 billion annually in external ventures
GE Equity invests an average of $3 million to $5 million in each ofcompanies, and it gets somewhere between 5 and 11% of each venture
85% of investment are strategic value investments that help GE businessesgrow and are done jointly with one of them
GE Ve ntu re S tra teg iesCorporate Investing in External Ventures
More information at 1000ventures.com: Corporate Venture Investing
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Corporate Venture Investing: GE EquitySucce ss Fa ct ors
1000ventures.com
Qualities of Top ManagersCritical to Success
they are visionary leadersaiming at building a world-class, global, private equity
organization
each of them is aremarkable hybrid ofcorporate executive and
venture capitalist they practice and lead a
highly disciplined approachto project selection andportfolio management
Highly Disciplined BusinessManagement System(BMS)
rigorous examinationprocedure
systematic investmentapproach based on decisionand probability theories
the most onerous due-diligence checklist in theworld of corporate ventureinvesting
portfolio management system
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Lead More, Manage Less
Build a Winning Organization
GE Success Story: Flash Points
25 Lessons from Jack Welch
Harness Your People for Competitive Advantage
Build a Market-Leading Company
25 Lessons from Jack WelchCreating the worlds most competitive enterprise
2005 Vadim Kotelnikov, Founder, Ten3 Business e-Coach, www.1000ventures.com. October 2005
http://www.1000ventures.com/vk.htmlhttp://www.1000ventures.com/vk.htmlhttp://www.1000ventures.com/http://www.1000ventures.com/http://www.1000ventures.com/vk.htmlhttp://www.1000ventures.com/vk.html8/14/2019 25 Lessons Jack Welch Ten3 Mini Course
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Managem ent by Lea dership25 L esso ns f ro m Jac k W elch
1000ventures.com
LEAD MORE, MANAGE LESS
1. Lead2. Manage less3. Articulate your vision4. Simplify5. Get less formal
BUILD A WINNING ORGANIZATION
1. Get rid of bureaucracy2. Eliminate boundaries3. Put values first4. Cultivate leaders
5. Create learning culture
HARNESS YOUR PEOPLE
1. Involve everybody2. Make everybody a team player3. Stretch4. Instill confidence
5. Have fun
BUILD THE MARKET-LEADING COMPANY
1. Live speed2. Behave like a small company
1. Energize others2. Face reality3. See change as an opportunity4. Get good ideas from everywhere5. Follow up
1. Be number 1 or number 22. Live quality3. Constantly focus on innovation
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Lead More, Manage Less
Build a Winning Organization
GE Success Story: Flash Points
25 Lessons from Jack Welch
Harness Your People for Competitive Advantage
Build a Market-Leading Company
25 Lessons from Jack WelchCreating the worlds most competitive enterprise
2005 Vadim Kotelnikov, Founder, Ten3 Business e-Coach, www.1000ventures.com. October 2005
http://www.1000ventures.com/vk.htmlhttp://www.1000ventures.com/vk.htmlhttp://www.1000ventures.com/http://www.1000ventures.com/http://www.1000ventures.com/vk.htmlhttp://www.1000ventures.com/vk.html8/14/2019 25 Lessons Jack Welch Ten3 Mini Course
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Le ad Mo re , Mana ge Le ss: Le sson 1Lead
Managers muddle leaders inspire."What we are looking for are leaders atevery level who can energize, excite andinspire rather than enervate, depress,
and control."
Create a vision and then ignite your organization to make thisvision a reality
Focus on strategic issues Don't micromanage
Involve everyone and welcome great ideas from everywhere
Lead by example
More information at 1000ventures.com: Effective Leadership
http://www.1000ventures.com/business_guide/crosscuttings/leadership_main.htmlhttp://www.1000ventures.com/business_guide/crosscuttings/leadership_main.htmlhttp://www.1000ventures.com/business_guide/crosscuttings/leadership_main.htmlhttp://www.1000ventures.com/business_guide/crosscuttings/leadership_main.html8/14/2019 25 Lessons Jack Welch Ten3 Mini Course
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Le ad Mo re , Mana ge Le ss: Le sson 3Articulate Your Vision
"Leaders inspire people with clear visions of howthings can be done better." The best leader do notprovide a step-by-step instruction manual for workers.The best leaders are those who come up with new
idea, and articulate a vision that inspires others to act.
Create and project a clear vision
Articulate a few clear stretch goals for your company
Make sure you have the very best people to carryyour vision out.
More information at 1000ventures.com: Vision, Mission, Goals
http://www.1000ventures.com/business_guide/crosscuttings/vision_mission_strategy.htmlhttp://www.1000ventures.com/business_guide/crosscuttings/vision_mission_strategy.htmlhttp://www.1000ventures.com/business_guide/crosscuttings/vision_mission_strategy.html8/14/2019 25 Lessons Jack Welch Ten3 Mini Course
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Le ad Mo re , Mana ge Le ss: Le sson 4Simplify
1000ventures.com
Keeping things simple is one of the keys to business.Have the courage to be simple. Simplicity is practically anart form, with many definitions. "Simple messages travelfaster, simpler designs reach the market faster and theelimination of clutter allows faster decision making."
Don't make business harder than it is
Think simply to create a clear vision
Make your messages simple Build self-confidence
Simplify your workplace and communications
Make meeting simpler
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Le ad Mo re , Mana ge Le ss: Le sson 5Get Less Formal
1000ventures.com
"You must realize now how important it is tomaintain the kind of corporate informalitythat encourages a training class tocomfortably challenge the boss's pet ideas."
Take the "Boss Element" our of your company
Keep formality and rigidity out of the office
Hold more informal meetings Find simple ways to loosen things up
Brainstorm with bosses and colleagues frequently
Organize a once-in-a-while informal get together
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Le ad Mo re , Mana ge Le ss: Le sson 6Energize Others
1000ventures.com
Genuine leadership comes from the quality ofyour vision and your ability to spark others toextraordinary performance. Getting employeesexcited about their work is the key to being agreat business leader. "We now know whereproductivity - real and limitless productivity -
comes from. It comes from challenged,empowered, excited, rewarded teams of people."
Live action all day
Allow employees more freedom
Give employees more responsibility
Never lead by intimidation
Let people know how their efforts are helping your organization
Send handwritten thank-you notes
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Le ad Mo re , Mana ge Le ss: Le sson 7Face Reality
1000ventures.com
Face reality, then act decisively. Most mistakes thatleaders make arise from not being willing to face realityand then acting on it. Facing reality often means sayingand doing things that are not popular, but only bycoming to grips with reality would things get better.
Accept the truth
Own up the reality, don't bury your head in the sand
See things as they are, not as you wish them to be Look at things with a fresh eye every day
Look at your situation as an outsider
Play scenarios
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Le ad Mo re , Mana ge Le ss: Le sson 8See Change as an Opportunity
Change is a big part of the reality in business."Willingness to change is a strength, even if itmeans plunging part of the company into totalconfusion for a while... Keeping an eye out forchange is both exhilarating and fun."
It's nonsense to fear change
Adapt your management style
Spark other to deal with change Deal with change in a proactive manner
Defy tradition
Think short-term and long-term change
Reinvent your business constantly
More information at 1000ventures.com: Change Management
http://www.1000ventures.com/business_guide/crosscuttings/change_management.htmlhttp://www.1000ventures.com/business_guide/crosscuttings/change_management.htmlhttp://www.1000ventures.com/business_guide/crosscuttings/change_management.html8/14/2019 25 Lessons Jack Welch Ten3 Mini Course
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Le ad Mo re , M ana ge Le ss: Le sson 9Get Good Ideas from Everywhere
1000ventures.com
New ideas are the lifeblood of business. "Theoperative assumption today is that someone,somewhere, has a better idea; and the operativecompulsion is to find out who has that better
idea, learn it, and put it into action - fast."
Ideas can be from any source
Cross-pollinate Develop a pervasive and insatiable thirst for good ideas
Study competitors
Plagiarize it's legitimate
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Le ad Mo re , M ana ge Le ss: Le sson 1 0Follow Up
1000ventures.com
Follow up on everything. Follow-up is onekey measure of success for a business.
Your follow-up business strategy will pavethe way for your success.
Demonstrate relentless consistency in everything
When you call a meeting, see if its goals are achieved
Harp on a few key themes and repeat them over and over
Expand your communication to reach a critical mass
Be consistent consistently!
25 L f J k W l h
8/14/2019 25 Lessons Jack Welch Ten3 Mini Course
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Lead More, Manage Less
Build a Winning Organization
GE Success Story: Flash Points
25 Lessons from Jack Welch
Harness Your People for Competitive Advantage
Build a Market-Leading Company
25 Lessons from Jack WelchCreating the worlds most competitive enterprise
2005 Vadim Kotelnikov, Founder, Ten3 Business e-Coach, www.1000ventures.com. October 2005
http://www.1000ventures.com/vk.htmlhttp://www.1000ventures.com/vk.htmlhttp://www.1000ventures.com/http://www.1000ventures.com/http://www.1000ventures.com/vk.htmlhttp://www.1000ventures.com/vk.html8/14/2019 25 Lessons Jack Welch Ten3 Mini Course
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Bu il d a Winn ing O rga nizat ion : Lesson 13Put Values First
1000ventures.com
Play up the "soft stuff" the company's values andculture. Don't focus too much on the numbers."Numbers aren't the vision; numbers are theproducts." Focus more on the softer values ofbuilding a team, sharing ideas, exciting others.
Don't focus too much on numbers
Let values rule
Live values
Emphasize your company's values and culture
Part your company with those who don't live the valuesof your company
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Bu il d a Winn ing O rga nizat ion : Lesson 14Cultivate Leaders
1000ventures.com
Building a leader pipeline is essential to the healthof your company and it therefore is a strategic dutyof the senior leader. Cultivate leaders who have thefour E's of leadership: Energy, Energize, Edge, andExecution; leader who share values of your
company and deliver on commitments.
Build self-confidence
Look for team players Look for coaches
Help them build their cross-functional expertise
Measure performance of the leader pipeline
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Bu il d a Winn ing O rga nizat ion : Lesson 15Create a Learning Culture
1000ventures.com
Turn your company into a learning organization tospark free flow of communication and exchange ofideas. "The desire, and the ability, of an organizationto continuously learn from any source, anywhere and to rapidly convert this learning into action isits ultimate competitive advantage."
Don't think that you or your company have all the answers
Make intellect rule
Make learning a top priority Create an operating system that drives knowledge and learning
throughout the company
Make important information easily available to everybody
Create a culture where ideas are translated into action and results
25 L f J k W l h
8/14/2019 25 Lessons Jack Welch Ten3 Mini Course
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Lead More, Manage Less
Build a Winning Organization
GE Success Story: Flash Points
25 Lessons from Jack Welch
Harness Your People for Competitive Advantage
Build a Market-Leading Company
25 Lessons from Jack WelchCreating the worlds most competitive enterprise
2005 Vadim Kotelnikov, Founder, Ten3 Business e-Coach, www.1000ventures.com. October 2005
http://www.1000ventures.com/vk.htmlhttp://www.1000ventures.com/vk.htmlhttp://www.1000ventures.com/http://www.1000ventures.com/http://www.1000ventures.com/vk.htmlhttp://www.1000ventures.com/vk.html8/14/2019 25 Lessons Jack Welch Ten3 Mini Course
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Lesson 16 Involve Everyone
1000ventures.com
Business is all about capturing intellect fromevery person. The way to engenderenthusiasm it to allow employees far morefreedom and far more responsibility.
Start with yourself
Encourage people to take initiative
Establish a meritocracyin your company
Use the brains of every worker
Create an atmosphere where workers feel free to speak out
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Lesson 17 Make Everybody a Team Player
1000ventures.com
Every leader has both a task to complete and a team to lead. Leadersmust not only produce their personal best. The leader must work asthe team member who gets the top results from the whole team.Managers should learn to become team players. Middle managershave to be team members and coaches. Take steps against those
managers who wouldn't learn to become team players.
Set up a shared and worthwhile goal
Behave positively
Help junior executives become future great leaders
Build diverse cross-functional teams
Facilitate cross-pollination of ideas
Part your company with those who won't play as part of a team
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Lesson 18 Stretch!
1000ventures.com
Stretch your business strategy
Stretch yourself
Ask managers and employees to reach for their dreams
Reward business leaders even for falling short of a stretched goal
Don't abuse stretch make sure that you do the right stuff
Keep stretching
Stretch is a goal or challenge that is significantlybeyond the organization's current performancelevel. Stretch targets energize. "We have found thatby reaching for what appears to be the impossible,we often actually do the impossible; and even when
we don't quite make it, we inevitably wind up doingmuch better than we would have done."
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Lesson 19 Instill Confidence
1000ventures.com
Create a truly confident workforce. Confidence is a vitalingredient of any learning organization. The prescription forwinning is speed, simplicity, and self-confidence. Self-confidentpeople are open to good ideas regardless of their source and arewilling to share them. "Just as surely as speed flows from
simplicity, simplicity is grounded in self-confidence."
Encourage employees to look well ahead
Turn people loose
Simplify the workplace
Provide training and coaching
Let people know that you value their ideas
Give people independence and resources
Encourage people to take big swings
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Lesson 20 Make Business Fun
1000ventures.com
Fun must be a big element in your businessstrategy. No one should have a job they don'tenjoy. If you don't wake up energized andexcited about tackling a new set of challenges,then you might be in the wrong job.
Never allow your company to take itself too seriously
Take swings, have fun
Find job that challenges you
Remove anything that makes people less excitedabout going to work
Celebrate success
25 Lessons from Jack Welch
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Lead More, Manage Less
Build a Winning Organization
GE Success Story: Flash Points
25 Lessons from Jack Welch
Harness Your People for Competitive Advantage
Build a Market-Leading Company
25 Lessons from Jack WelchCreating the worlds most competitive enterprise
2005 Vadim Kotelnikov, Founder, Ten3 Business e-Coach, www.1000ventures.com. October 2005
http://www.1000ventures.com/vk.htmlhttp://www.1000ventures.com/vk.htmlhttp://www.1000ventures.com/http://www.1000ventures.com/http://www.1000ventures.com/vk.htmlhttp://www.1000ventures.com/vk.html8/14/2019 25 Lessons Jack Welch Ten3 Mini Course
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Bu i ld th e M ark et -L ead ing Co mpa ny : Lesson 21Be Number 1 or Number 2
1000ventures.com
"When you're number four or five in a market, whennumber one sneezes, you get pneumonia. When you'renumber one, you control your destiny. The numberfours keep merging; they have difficult times. That's notthe same if you're number four, and that's your only
businesses. Then you have to find strategic ways to getstronger. But GE had a lot of number ones."
Evolve a game plan, a business strategy "number one, number two
Send shivers throughout your organization Exact the highest standards and make sure that everyone in your
company meets those standards
Look for the quantum leap
Get rid of fat
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Bu i ld th e M ark et -L ead ing Co mpa ny : Lesson 22Live Quality
1000ventures.com
"We want to change the competitive landscape by beingnot just better than our competitors, but by taking quality toa whole new level. We want to make our quality so special,so valuable to our customers, so important to their successthat our products become the only real value choice."
Take great pride in your work
Make quality your way of life
Quality is your job
Make quality the job of every employee
Seek out quality training
Involve customers
Exchange best practices
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Bu i ld th e M ark et -L ead ing Co mpa ny : Lesson 23Constantly Focus on Innovation
"You have just got to constantly focus on innovation. Andmore competitors. You've got to constantly produce morefor less through intellectual capital. Shun the incremental,and look for the quantum leap." Now the fundamentalshave got to be more education. More information
knowledge, faster speeds, more technology across theboard.
Invest in continuous education and training
Shun the incremental and go for the leap
Search for the best ideas
Practice systems thinking and holistic approaches
Invest in information technology and information management
Spend an hour per week learning what competitors are doing
More information at 1000ventures.com: Innovation
http://www.1000ventures.com/business_guide/innovation.htmlhttp://www.1000ventures.com/business_guide/innovation.htmlhttp://www.1000ventures.com/business_guide/innovation.html8/14/2019 25 Lessons Jack Welch Ten3 Mini Course
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Bu i ld th e M ark et -L ead ing Co mpa ny : Lesson 24Live Speed
"If you're not fast you can't win... Speed is everything. It is theindispensable ingredient of competitiveness." Speed, simplicity andself-confidence are closely intertwined. By simplifying the organizationand instilling confidence, you create the foundation for an organizationthat incorporates speed into the fabric of the company.
Cultivate the culture of speed
Eliminate layers
Remove all roadblocks
Don't "sit" on decisions Create an open organization
Communicate faster
Make speed a habit
Pounce every dayMore information at 1000ventures.com: Fast Company
http://www.1000ventures.com/business_guide/crosscuttings/change_speedmoving.htmlhttp://www.1000ventures.com/business_guide/crosscuttings/change_speedmoving.htmlhttp://www.1000ventures.com/business_guide/crosscuttings/change_speedmoving.html8/14/2019 25 Lessons Jack Welch Ten3 Mini Course
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Bu i ld th e M ark et -L ead ing Co mpa ny : Lesson 25Behave Like a Small Company
1000ventures.com
Small companies have huge competitive advantages. They "areuncluttered, simple, informal. They thrive on passion and ridiculebureaucracy. Small companies grow on good ideas regardlessof their source. They need everyone, involve everyone, andreward or remove people based on their contribution to winning.
Small companies dream big dreams and set the bar high increments and fractions don't interest them."
Get lean
Get agile Start thinking like a small company
Infuse a small company soul into your organization
Communicate like a small company
Stay close to your customers
25 Lessons from Jack Welch
8/14/2019 25 Lessons Jack Welch Ten3 Mini Course
48/49
Lead More, Manage Less
Build a Winning Organization
GE Success Story: Flash Points 25 Lessons from Jack Welch
Harness Your People for Competitive Advantage Build a Market-Leading Company
25 Lessons from Jack WelchCreating the worlds most competitive enterprise
2005 Vadim Kotelnikov, Founder, Ten3 Business e-Coach, www.1000ventures.com. October 2005
THANK YOU!THANK YOU!
25 Lessons from Jack Welch
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25 Lessons from Jack WelchCreating the worlds most competitive enterprise
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