The hottest Jack Welch died. He is a generation of

2022-08-23
  • Detail

Jack Welch died: he is a generation of business legend, which increased the market value of General Electric by 30 times

"today, 20 years ago, I said I was the happiest and luckiest person in the world. Today, 20 years later, I still feel the same, but I'm a little older. I also want to add that I'm the proudest person in the world, and I'm proud of all of you and your achievements." In September, 2001, Jack Welch, the former chairman and CEO of General Electric, retired and took this paragraph as the closing speech of his resignation speech

yesterday, the white haired man who claimed to be the "happiest, luckiest and proudest" generation of business legend in the world, brought great changes to a manufacturing giant and turned it to the service industry and e-commerce track, died

on March 2, according to CNBC, Jack Welch, the former chairman and CEO of General Electric, died of renal failure at his home on the evening of March 1 local time at the age of 84

Jack Welch has been in charge of General Electric for 20 years, and is known as "the most respected CEO", "the world's first CEO" and "the most successful and greatest entrepreneur in contemporary America". Under his leadership, Ge, an old industrial giant, soon expanded its business to the field of Finance and consulting services, with its market value increasing from $12billion to more than $400billion, becoming one of the companies with the highest market value in the world, second only to Microsoft, and evolving from the 10th place in the profitability ranking of Listed Companies in the United States to the world's first tier super giant

for general electric, which has a history of one hundred years, he is definitely an important stroke

before he took office, General Electric in 1981 had only three business divisions, namely lighting, engine and power, which maintained a leading position in the market. Now, 12 divisions of General Electric have become the leaders in their respective markets, and 9 divisions can be selected into the Fortune 500

General Electric, which has a history of 100 years, has also changed from a manufacturing giant to an enterprise giant oriented to service industry and e-commerce in the 20 years when Welch took charge of General Electric. Therefore, it has ranked first in the "America's most respected company" selection of Fortune magazine for three consecutive years, becoming a real industry leader

on February 3, 2017, President Donald Trump (left) greeted Jack Welch (right), the former CEO of General Electric, when holding a forum in the national dining room of the White House. Source: Getty Images

stuttering town youth

Jack Welch, only 5 feet 8 inches tall (about 1.72 meters), bald headed, extremely stocky, ordinary appearance makes it difficult to compare him with the most powerful The most competitive and valuable company is linked. Someone once commented that "he looks more like a car driver"

On November 19, 1935, Jack Welch was born into an ordinary family in Salem, Massachusetts. His father worked for the Boston Maine railway company and his mother was a housewife. Jack Welch is the only child in the family. He is short and stutters a little

because father often goes out early and returns late, has a calm personality and few words, the task of cultivating Jack Welch falls on his mother's shoulders

the slight stuttering did not hinder Jack Welch's development, which was closely related to his mother's education. According to Welch's memory, his mother knew that he had inferiority complex due to stuttering, but it didn't hit him, but focused on training his ability and willpower. "She is a very authoritative mother, which always makes me feel that I can do anything. It is my mother who trained me to learn to be independent. Every time my behavior is slightly deviant, she will whip me back, but it is usually positive and constructive, which can also make me cheer up. She never says anything superfluous, always so determined, and I am convinced of her."

in high school, Jack Welch became the captain of the hockey team. This experience benefited him a lot and he also had a preliminary concept of leadership

In 1957, Jack Welch received a bachelor's degree in chemical engineering from the University of Massachusetts. After graduating from University, he went on to study postgraduate courses and received a doctorate in chemical engineering from the University of Illinois in 1960

also on October 17 of this year, Jack Welch, 25, chose General Electric from the three companies available. He joined the plastic division of general electric and became a junior engineer in Pittsfield, Massachusetts, officially starting his career in general electric

Jack Welch plays golf with Bill Clinton

the youngest CEO of General Electric

Jack Welch's first task is to find a demonstration site for manufacturing PPO (a new material used in chemical industry), and then set up the factory

after overcoming many difficulties, Jack Welch finally completed the construction of the factory a year later, which earned him a high annual evaluation, but Ge only gave him a raise of $1000 according to the standard. Jack Welch wanted to resign and work for the international mineral and chemical company in Illinois because he was distressed by the bureaucratic system within GM

when Jack Welch's farewell party was about to be held, his young boss Ruben gutov tried his best to keep him. He launched a persuasive offensive against Welch at the dinner table for nearly four hours, and finally made him promise to stay and continue to work for general electric, on the condition that he would not be hindered by the company's bureaucracy. In the view of the industry, gutov's move left Ge with one of the greatest leaders in its history

then Jack Welch became the leader of the PPO process development project and made a material with high strength and easy molding at high temperature. The commercial name of this plastic product is "Norrell". In 1965, General Motors decided to invest 10million US dollars to build a Norrell processing plant according to Jack Welch's suggestion. Jack Welch volunteered to become the head of the plant

In 1968, Jack Welch became the leader of two plastic products departments, polyurethane and Norrell, and became the youngest general manager of General Electric Company due to his success in promoting Norrell

at the end of 1971, Jack Welch became the general manager of the Department of consumer products and construction, the next largest end market of general chemical and metallurgy

at that time, the president of General Electric was Reginald Jones, who insisted that the selection of his successor must go through a long-term and careful examination of each candidate, and then rationally select the most qualified candidate. Eight years later, Jack Welch finally passed Jones' long and strict examination and became the vice chairman of General Electric

In April, 1981, Jack Welch officially became the youngest chairman and CEO of Ge that also attracted startups to pay taxes in Zibo

In 2001, Jack Welch retired from general electric, ending his 40 year career at General Electric

Tim Russett, Jack Welch, Hillary Clinton, Simon Winchester, Liz Smith and Peter Rudd took a group photo at a celebration in 2004. Source: Getty Images

the reform path with thick ink

Jack Welch started a drastic reform after he became the head of General Electric

the predecessor of General Electric was Edison Electric Light Company, which was founded in 1878. In 1892, general electric company was officially born, and since then, it has created countless "world firsts" in the history of electricity

however, when Jack Welch, 45, became the chairman and CEO of General Electric, the 117 year old company was bloated, hierarchical, unresponsive to the market, and was going downhill in the global competition

however, Jack Welch's coming to power reversed the decline. Under his leadership, General Electric changed from a company full of bureaucracy to a vibrant and vibrant enterprise giant, and its market value soared from $13billion when he took office to more than $400billion

first, he aimed at the management system, reducing the original eight management levels of the company to three to four management levels; The second is to streamline the organization. Relevant data show that in just a few years, Jack Welch cut down nearly a quarter of GE's departments, reduced and merged more than 300 business units into 13 major departments, and sold nearly $10 billion in assets. For this reason, Jack Welch won two titles at the same time: "century manager" and "Neutron Jack"

this is Jack Welch's business philosophy - "number one, number two" principle. He believes that in the highly competitive global market, only enterprises that are ahead of their competitors in the market can be invincible. The condition for any business department to exist is to be "one of the best in the market", otherwise it will be cut off

facts have proved that this strategy is indeed effective. When Jack first took charge of General Electric, General Electric had sales of $25billion and profits of $1.5 billion, and its market value ranked tenth among Listed Companies in the United States. By 1999, General Electric had achieved sales revenue of $111billion (fifth in the world) and profits of $10.7 billion (first in the world), and its market value had ranked second in the world

In 2001, at the peak of his career, Jack Welch chose to retire and bid farewell to General Electric, for which he had devoted 41 years

Rupert Murdoch (left) and Jack Welch (right) at the cocktail party held by Murdoch source: Getty Images

redefine modern enterprises

it is difficult to start a business, and it is more difficult to keep a business. Jack Welch changed this statement and created a miracle. In 1999, Fortune magazine awarded him the title of "manager of the century"

Geoffrey Colvin, the director of

wrote when explaining this title: "although his action seemed like a blitz at that time, he later regretted that he did not go faster. He said that he got a treasure of American enterprises, and he was' afraid to break it '. Welch not only did not break it, but also transformed it, doubling its value, exceeding everyone's expectations. "

in addition to the significant improvement of performance and market value, the name of" century manager "also derives from Jack Welch's drastic reform and modern enterprise management concept to a certain extent

when Jack Welch entered General Electric in his first year, he had tasted the consequences of bureaucracy and redundancy within the company. Therefore, after taking over as CEO of General Electric, the first thing he reformed was the internal management system to reduce management levels and redundancy

Jack Welch also created many original methods in management, the most famous of which are "party", "sudden inspection", "handwritten note" and so on. Jack Welch knows the value of "sudden" action. Every week, he suddenly inspects the factory and office, hurriedly arranges lunch with managers several levels lower than him, and suddenly sends handwritten neat and eye-catching notes to the company's employees countless times, forming an anonymous spur and encouragement

Jack Welch

Copyright © 2011 JIN SHI