Jeff immelt quotes Video
Jeff Immelt Reflects on Leading GE \u0026 Managing Crisis - Technovation 544 jeff immelt quotesJohn Francis Welch Jr. November 19, — March 1, was an American business executive, chemical engineerand writer. His paternal and maternal grandparents were Irish. Throughout his early life in middle school and high school, Welch found work in the summers as a golf caddie, newspaper delivery boyshoe salesman, and drill press operator. Late in his senior year, Welch was accepted to University of Massachusetts Amherstwhere he studied chemical engineering. Welch joined General Electric in InWelch planned to quit his job as junior engineer because he was dissatisfied with the raise offered to him and was unhappy with the bureaucracy he jeff immelt quotes at GE. Welch was persuaded to remain at GE by Reuben Gutoff, an executive at the company, who promised him that he would jeff immelt quotes create the small-company atmosphere Welch desired.
Not long after, inWelch also became the vice president of GE's metallurgical and chemical divisions. ByWelch had dismantled much of the earlier management put together by Jones with aggressive simplification and consolidation. One of his primary leadership directives was that GE had to be No. Through the s, Welch sought to streamline Link. In go here, he made a speech in New York City called "Growing fast in jeff immelt quotes slow-growth economy".
Welch pioneered a policy of informality at the work place, allowing all employees to have a small business experience at a large corporation. He closed factories, reduced payrolls and cut lackluster units. Welch valued surprise and made unexpected visits to GE's plants and offices. He also broadened the stock options program at GE, extending availability from top executives to nearly one third of all employees. Welch is also known for abolishing the nine-layer management hierarchy and bringing a sense of informality to the company.
During the early s he was dubbed "Neutron Jack" in reference to the neutron bomb for eliminating employees while leaving buildings intact. Of thewho left the payroll, 37, were in businesses which GE sold off, and 81, were reduced in continuing businesses. In return, GE had tremendously increased its market capitalization. Welch reduced basic research, and closed or sold off under-performing businesses. During the s, Welch shifted GE's business from manufacturing to financial services through jeff immelt quotes acquisitions.
What I Learned Leading A Great American Company
Welch adopted Motorola 's Six Sigma quality program in late Embedding succession planning and employee development is important since the departures of management can have significant consequences on an organization. Welch was passionate in making people GE's core jeff immelt quotes. His successor plan had always been a priority, as noted in his speech "From now on, [choosing my successor] is the most important decision I'll make.
It occupies a considerable amount of thought almost every day. He served as Chairman of The Business Council in and Upon his retirement from GE, Welch had stated that his effectiveness as its CEO for two decades would be measured by the company's performance for a comparable period under his successors.
Welch disputed scientists who classified PCBs as forever chemicals that can cause negative health consequences. New York State's Department of Environmental Consumption also advised people against eating fish from the river near the site.
Navigation menu
The retired Welch publicly praised his former firm's "slim-down" source return to being an industrial company. Welch also often received criticism for a lack of compassion for the middle class and working class.
When asked about excessive CEO pay compared to ordinary workers including backdating stock optionsgolden parachutes for nonperformance, immely extravagant retirement packagesWelch labeled such allegations "outrageous" and vehemently opposed proposed SEC regulations affecting executive compensation.]
Let's return to a theme