book review on winning

8/3/2019 Book Review on Winning

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BOOK REVIEW

ONWINNINGBy: Jack Welch with Suzy Welch

Prepared & PresentedBy:Rohit SachdevaBatch: 2011 2013


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This book is divided into 5 parts

Underneath It All ( Includes 4chapters ) Your Company (includes 6chapters ) Your Competition (includes 5chapters ) Your Career ( includes 4

chapters ) Tying Up Loose Ends (include 1chapter )


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CHAPTER 2Candor

In order to get ahead, you need great ideas- lots of great ideas. To get the best ideas,turn your business into an idea machine.

Nurture a constant flow of ideas from everylevel of your organization - not just yourtop managers. The only way to foster suchidea-sharing is to develop a culture ofcandor, where people aren't afraid to speak

their minds. Reward them for their candor,even if it makes themselves and others -yes,you - look bad.


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CHAPTER 3Differentiation

Those who don't play well are paid theminimum salary and eventually fired.

Businesses should operate the sameway. It may seem cruel but in the longrun, people are happier doing whatthey're good at. If they're not excelling,you're ultimately doing them a favor by

moving them out of an environmentwhere they know they're a drag on theorganization. They'd be happier someplace else.


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CHAPTER 4VOICE & DIGNITY

The problem: management gets ideas

from only a few vocal people. The vastmajority are either scared to speak upor feel they have no right to speak upbecause they haven't been asked. A

"Work-Out" is a way to get theseuntapped ideas flowing.


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CHAPTER 5Leadership

Welch lays out eight rules of leadershipwhich always worked.Rule #1 - Relentlessly upgrade yourteam. In every encounter with them,"evaluate, coach, and build self-confidence."Rule #2 - Instill the vision.Rule #3 - Spread energy and optimism.

Rule #4 - Establish trust by being candid,transparent and giving credit where it'sdue.Rule #5 - Make the unpopular decisions.Rule #6 - Probe and push. Make sureyour "questions are answered with


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CHAPTER 6Hiring

First, candidates should pass threescreens:Screen #1: Do they have integrity -

telling the truth and keeping their word.Screen #2: Are they intelligent - havingenough curiosity and "breadth ofknowledge" to lead other smart people.Screen #3: Are they mature - able to

handle stress and setbacks, respectother's emotions, be confident withoutbeing arrogant and have a sense ofhumor.


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Second, look for four E's and a P.Positive Energy - thriving on action,relishing change, making friends easily,

loving work, play and life.Can Energize Others - "It takes a deepknowledge of your business and strongpersuasion skills...."Has Edge - the ability to make tough

decisions, even when all the informationisn't in.Can Execute - to take the decision andmake it happen, overcoming all obstaclesto complete the task.Passion - They're excited about their work,learning and growing, and helping thosearound them win.


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CHAPTER 7PEOPLE MANAGEMENT

q Give HR (Human Resources) "power andprimacy.

q Motivate and retain with money,

recognition and training.

q Confront difficult people issues, fromtrouble-makers to big-headed stars, with

candor and action.q Spend half of your time evaluating and

coaching the middle 70 percent - thosewho are neither disrupting nor shining.


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CHAPTER 8PARTING WAYS

Abide by two controlling principles:1 - Nobody should be surprised when they are letgo. Employees should be informed enough about thenature of their business that they understand who

might be laid off in an economic downturn or changein the industry. If they aren't performing well, theyshould be well aware of this through regular formaland informal reviews. If they can't improve, theyshould know they will have to move on.

2 - Minimize the humiliation. Encourage him thatthere's a better job out there for him, better matchedto his temperament and skills. Help him move towardthat next job.


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CHAPTER 9CHANGE

In this era of change, you change or die.Here's how to make change morepalatable.1. Make sure everyone in your companyknows whyyou're changing.2. Hire and promote only those who dealwell with change. Many will callthemselves "change agents," but you

know the real deal when you discoversomeone who reacts fearlessly in the faceof the unknown.3. Get rid of those who resist change.


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CHAPTER 10CRISIS MANAGEMENT

To handle a crisis, make the followingassumptions:

It's worse than you first imagined. Everyone will eventually find outeverything. The media will portray you in the

worst possible light. You will survive, smarter andstronger.


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CHAPTER 11STRATEGY

"In real life, strategy is actually verystraightforward. You pick a generaldirection and implement like hell."

"If you want to win, when it comes to

strategy, ponder less and do more."


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CHAPTER 12BUDGETING

"...the budgeting process at most companies hasto be the most ineffective practice inmanagement."

Traditionally, companies either budget witha negotiated settlementor aphony smile.

In the negotiated settlement, a business ordivision comes to the senior managementcomplaining about barriers to growth and saythey'll be doing well to beat 6 percent growthnext year.

Inphony smile budgeting, the division headscome to the senior management with grandplans, asking for the money to pull off thedreams they feel they can make happen.


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CHAPTER 13ORGANIC GROWTH

First, put your best people at the helmand give them plenty of resources tomake it happen.

Second, encourage it with much fanfarefrom the top.

Third, get off their backs and give themthe freedom to make their owndecisions.


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CHAPTER 14MERGERS AND ACQUISITIONS

During his career at GE, Welch wasinvolved with over one thousandmergers and acquisitions. Here hewarns of seven pitfalls to avoid.


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CHAPTER 15SIX SIGMA

GE adopted the quality improvementprogram Six Sigma in 1995. Hebelieves that it is tops in improvingefficiency and productivity, loweringcosts, reducing defects, buildingcustomer loyalty and building great

leaders.


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CHAPTER 16THE RIGHT JOB

"Every time I ask successful people abouttheir first few jobs, the immediate reaction isalmost always laughter.

First, get a job and learn something about

yourself. What do you like or dislike about it?What are you good at and bad at?

Second, get another job that's more in linewith the strengths and desires you discovered

in your last job.

Third, repeat the process until you findyourself in a job you love.


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CHAPTER 17GETTING PROMOTED

Do more than you're asked. Performbeyond all expectations. If you can,expand your job in such a way that

your boss and colleagues all lookbetter.

Manage those below you in such a waythat when they're asked about you,they'll say that you are fair, you careand you were willing to show toughlove.


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CHAPTER 19WORK LIFE BALANCE

Your boss may be concerned aboutyour personal life, but he's alsoconcerned about the company winningin a competitive work environment.


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Thank you

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