WINNING

JACK WELCH WITH SUZY WELCH

• Mission balances the possible and the
impossible
• How do you plan on winning in this UNDERNEATH IT ALL
business?
• That’s your mission statement

• Values are the behaviours you plan to exhibit in achieving

your mission
• Values are marching orders. MISSIONS AND VALUES
• Values should be:
1. Tangible
2. Identifiable
3. Real
4. Clear

• Mission and values rupture due to the little crises of daily life
in business
 UNDERNEATH IT ALL

CANDOR
• The biggest dirty little secret
in business
• Candor is hard to
implement and time
consuming
• To get candor, you should
reward it, praise it and talk
about it
• Candor works because it
unclutters
 3 Categories of employees:
• Top 20% : Star performers; to be rewarded and
nurtured
UNDERNEATH IT ALL
• Middle 70% : Future stars & core workers; to be
trained & cultivated
• Bottom 10% : Have to let go
DIFFERENTIATION
• Differentiation helps get best people in the team
Every person in the world wants voice and dignity, and
every person deserves them UNDERNEATH IT ALL

VOICE AND DIGNITY

 WHAT LEADERS DO
YOUR COMPANY
1. Leaders relentlessly upgrade their team, using every
encounter as an opportunity to evaluate, coach, and build
self-confidence. LEADERSHIP
2. Leaders make sure people not only see the vision, they live
and breathe it.
3. Leaders get into everyone’s skin, exuding positive energy Before you are a leader, success is
and optimism. all about growing yourself. When
4. Leaders establish trust with candor, transparency, and you become a leader, success is all
credit. about growing others
5. Leaders have the courage to make unpopular decisions
and gut calls.
6. Leaders probe and push with a curiosity that borders on
skepticism, making sure their questions are answered with
action.
7. Leaders inspire risk taking and learning by setting the
example.
8. Leaders celebrate.
THE 4-E (AND 1-P)
FRAMEWORK
YOUR COMPANY

HIRING

Hiring good people is hard.

Hiring great people is brutally hard.

Ability to see
For The Top around corners

Authenticity

Encircled with Heavy-duty

smart people resilience
YOUR COMPANY
PEOPLE MANAGEMENT
Reasons for parting of ways:
- Integrity violation YOUR COMPANY
- Economic downturns
- Non-performance

Mistakes to avoid:
PARTING WAYS
- No surprises
- No humiliation
- No procrastination LETTING GO IS HARD TO DO
Practices in times of Change:
- Keep clear goal YOUR COMPANY
- Hire & promote true-believers and go-
getters CHANGE
- Remove all the resistors
- Look for wrecks and exploit change

You don’t have to change until you have to

Assumptions for a plan of action:
• Worse than your imagination YOUR COMPANY
• Everyone will come to know
• Media will crucify you
• Systems and people must change
CRISIS MANAGEMENT
• You will survive; becoming smarter and stronger
Welch’s strategy approach:
- Ponder less, do more
- Come up with a big aha- smart & realistic YOUR COMPETITION
- Put right people in the right jobs
- Seek out the best practices to achieve the big aha and
continually improve
STRATEGY
Focus on the playing field:
- Competitors
- Market Share
- Strength & weaknesses of competitor
- The customers

Strategy means making

clear-cut choices about how to
compete. You cannot be
everything to everybody, no
matter what the size of your
business or how deep its pockets
Wrong ways:
YOUR COMPETITION
Negotiated Settlement & Phony smile
approach

Correct way: BUDGETING

- How to beat last year’s performance
- How to beat our competition AND

Organic growth is the process of business ORGANIC GROWTH

expansion by increasing overall customer
base, portfolio growth

Welch’s guidelines:
- Spend plenty & put best people in
leadership roles
- Encourage it with fanfare from top
- Give them freedom to take decisions
• Needs to be handled with care

• Can cause immense profits YOUR COMPETITION

• Pitfalls to avoid: MERGERS AND
- Mergers of equals
- Cultural fit ACQUISITIONS
- Reverse hostage situation
- Integrating too timidly
- Conqueror syndrome
- Paying too much
- Resistance
• Quality program
• Improves operational efficiency
• Improves customer’s experience YOUR COMPETITION
• Lowers costs
• Building better leaders
SIX SIGMA
Welch’s guidelines: YOUR CAREER
- Get a job, learn, get to know yourself
- Get another job more suited to your
strengths THE RIGHT JOB
- Repeat the process until you find a job you
love

Don’t expect a perfect job in an

imperfect world
YOUR CAREER

GETTING PROMOTED
YOUR CAREER

HARD SPOTS
• Compartmentalize
• Set your priorities straight
• Don’t leave yourself out of those priorities YOUR CAREER

WORK-LIFE BALANCE
THANK
YOU