Leadership

Group-2 Radhika, Sourabha &

ThenkaniSection- A

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Kindly pay attention, We have a quiz coming up at the end!!

Introduction

Leadership- A matter of ‘choice’ and ‘determination’

• Leaders who created new and profitable ideas• People who affected political, civic and social changes in the economic world• INSPIRED and TRANSFORMED others

• In this book, The characters of leaders are shown which makes them what they are. Major challenges in there business career and how they tackled it.

One Such Leader , we chose for today’s presentation is

Jack Welch – He is not only a leader, but a leader who has made many leaders and the legacy continues……

Executive Summary

This presentation is a brief on the life and success story of Jack Welch, former CEO, GE.

The character traits of Jack Welch which steered him in becoming a leader, his passion towards work, his take on bureaucracy will be discussed in detail.

We also take a look at the challenges faced by him and his various achievements.

We conclude by discussing the lessons learnt – “What is in it for us?”

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LEADER - Jack Welch

A Brief History about

• 1890 - The Edison General Electric Company begins

•1892 – GE formed as a result of merger

•Over the years its innovation, competitiveness and the vision to “make a world for tomorrow” and “Why to predict the future when we can create one?” attitude has led the various innovative products for which GE is known.

•1942 – Develops the 1st American Jet Engine.

•1955 – Creates the first artificial Diamonds.

•GE is into Aviation, Health products, Power generation – Renewable as well as non-renewable sources , Intelligence platforms and so on.

Jack Welch – TIMELINE

1935: Born to a railway conductor and a home maker Jack Welch was an intelligent kid from the very childhood.

His mother was a source of inspiration and a constant push to his self confidence.

1957: Graduated from the University of Massachusetts with a B.S. in Chemical engineering and entered in University of Illinois and earns M.S. And Ph.D. in Chemical engineering.

1960: Entered GE as a junior engineer at a salary of $10,500 and begins to question the bureaucracy in the organization.

1965: Helped to develop a plastic product which became a $1Bn business for the company.

1965-1981: From Manager to Area head to CEO – Jack had set his career objective to become the head of the company. He became the youngest CEO of GE, at the age of 46.

NEUTRON Jack- “The Radical”

1.Lead, not manage: Someone who came up with good ideas, energize and excite people rather than enervate, depress and control.

2.Don’t TOLERATE Bureaucracy, BLOW it Up: Bureaucracy can be the most stubborn disease, but we can simplify and remove complexity and formality to make a company more responsive and agile.

3.Face REALITY, stop Assuming: Various restructuring plans in the company including closing down of business and laying off the business which were in losses.

4.SIMPLIFY Things : To Welch, business can be exciting and simple, without jargon and complexity.

5. Perfectionist : Initiated Six-Sigma to improve quality and reduce defects to 99.99966% of perfection.

EXECUTION

KEY GE LEADERSHIP INGREDIANTS ‘E^4’

CHALLENGES

Fighting a battle that didn’t exist.Communicating his vision Eliminating the weak links at GERestructuring GE to make it more profitable Continually scanning the environment for new opportunities

Achievements Youngest CEO of GETook GE from $10 billion to a $500 billion companyLaunched Six-sigma Cultivated LeadersHas a management Institute named after himPublished the book “Straight from the gut” in 2001Also wrote the book “Wining” in 2005For his employees at GE, Welch said he felt proud to be able to enrich their lives with their jobs, while making them wealthier than they could imagine and that, he said was his greatest achievement.

Leadership Lessons

Involve everyone and welcome great ideasDrop unnecessary work Make your workplace more informal Look at things with a fresh eyeDon’t harp on numbers, let the values rule

He will be remembered as Neutron Jack.

Conclusion

The true learning of this course is to realize the leader in us. By the detailed research on Jack Welch, a lot has been learnt and there is more to come in the following days.

It is the future that drives many leaders forward and that future is what we are here to build.

“A leader focuses on shaping tomorrow. There is little or nothing you can do about yesterday. Learn from it but don’t waste a

moment on it. Get on with tomorrow”

Time for some fun

At what age did Jack Welch become the CEO of GE?

YESSSSS!!

46 it is!!!

Name a book written by Jack Welch

You got it right again

What was the nick name of Jack Welch @ GE?

YOU ARE ABSOLUTELY RIGHT!

It is NEUTRON Jack

Name any two E’s of the key GE leadership ingredients

And we thought you would’nt remember!!!

EnergyEnergizerEdgeExecution

How can Jack Welch be called a perfectionist?

That was pretty easy

Six Sigma!!