August 3, 2006
Fortune and the Welch way
The New Rules - July 24, 2006: "Even now, nearly five years after his retirement from General Electric, Jack Welch commands the spotlight. He is still power-lunching, still making the gossip columns, still the charismatic embodiment of the star CEO" Since when "customer is king" a new rule? I believe Jack Welch did an amazing job at GE, companies across the board have much to learn from those years he spent there. I think the rules are too much "canibalize your own business" that we used to read everywhere in pre-bust years, or "build and they will come". Excess of the buble led to excessive cuts - in Corpo future like R&D, and this is leading us to the new rules from Fortune. Creating share holder value is a big challenge to start with, Welch has been good and consistent for many many years, creating share holder value year after year. I think we should point the fingers at the Welch wanabes - the ones who can/could only copy cat what others are doing.