The Welch Way
"The Welch Way: 24 Lessons from the World’s Greatest CEO" is a book by Jeffrey Krames written specifically to help employees apply to their careers the actions and success strategies of business icon Jack Welch. Jack Welch transformed GE into the world’s most valuable corporation - and became one of history’s most admired and successful CEOs - by cutting through bureaucratic noise and letting hands-on, frontline employees tell him what needed to be done.
- Lead - Articulate a vision and spark others to execute it. Don’t manage every excruciating detail. Involve everyone and welcome great ideas from everywhere.
- Get less formal - Brainstorm with colleagues and bosses. Hold more informal meetings. Consider a once-in-a-while informal get together.
- Blow up bureaucracy - Drop unnecessary work. Work with colleagues to streamline decision making. Make your workplace more informal.
- Face reality - Don’t assume everything is fine. Look at things with a fresh eye. Don’t fall into the "false scenarios" trap. Leave yourself with several options.
- Simplify - Simplify the workplace. Make meetings simpler. Eliminate complicated memos and letters.
- See change as an opportunity - Know that change is here to stay. Expect the least expected, but move quickly to stay a step ahead. Prepare those around you for the inevitable change that will affect their lives.
- Lead by energizing others - Never lead by intimidation. Let others know exactly how their efforts are helping the organization. Send handwritten thank-you notes to colleagues and customers.
- Defy tradition - Hold a "why do we do it that way?" meeting. Invite colleagues from your department to contribute one idea on changing something important at the company. Don’t be afraid to buck conventional wisdom
- Make intellect rule - Don’t let hierarchy rule. Spend an hour per week learning what competitors are doing. Offer a reward for the best idea. Work for organizations committed to training and learning.
- Pounce every day - Live urgency. Make decisions faster. Work harder.
- Put values first - Don’t put numbers first. Lead by example. Let values rule
- Manage less - Don’t get bogged won in meaningless details. Empower, delegate, get out of the way. You can’t manage self-confidence into people.
- Involve everyone - Participate more. Make sure everyone feels free to speak out. Suggest an informal brainstorming session. Business is "all about capturing intellect from every person…the more people you can capture it from, the better the intellect."
- Rewrite your agenda - Do not plan years ahead. Develop alternative plans and options. Expect the unexpected.
- Live speed - Don’t sit on decisions. Communicate faster. Incorporate speed into every activity/process
- Instill confidence - Reduce anxiety. Let people know that you value their ideas. Simplify the workplace. Focus on training (Six Sigma for quality initiative)
- Set stretch goals - Reach for the unreachable. Forget decimal points. Don’t punish yourself - or anyone else - for falling short of a stretch goal. "Self-confident people know that it is the quality of their effort toward achieving the ‘impossible’ that is the ultimate measure."
- Eliminate the boundaries - Seek out new ideas from everyone. Be sure to look outside the company for good ideas. Never stop eliminate boundaries. "Boundaryless behavior evaluates ideas based on their merit, not on the rank of the person who came up with them."
- Articulate a vision - Don’t lay out a detailed plan. Write down the vision. Avoid the minutiae. Hire and promote those most capable of turning visions into reality.
- Get good ideas from everywhere - Don’t think that you or your company have all the answers. Study competitors. Make sure everyone around you knows that you are interested in all ideas, regardless of where they come from.
- Spark others to perform - Never bully or intimidate. Make sure to use all the intellect and that the best idea wins, not the "stripes on one’s shoulder" (e.g. job title)
- Quality is your job - Take great pride in your work. Seek out quality training. Never think that quality is someone else’s job. "Six Sigma is the most important training thing we’ve ever had. It’s better than going to Harvard Business School"
- Change never ends - Face reality and know that change is here for good. Suggest an informal "change meeting". Think short-term and long-term change.
- Have fun - Don’t be serious. Make informality a way of life. Find a job that challenges you. Don’t stay in the same job forever.