Welch, former CEO of General Electric, was 84 years old. Jack Welch (November 19, 1935 - March 2, 2020) was born in Salem, Mass. He died on March 2, 2020, after treatment for kidney failure failed.
Welch has been called an icon of American business, and under his leadership General Electric grew from a market capitalization of $12 billion to $410 billion, at one point becoming the world's most valuable company after Microsoft. Fortune magazine once called him "the best manager of the 20th century.
Welch's "six standard deviation" (6-Sigma) management approach at GE, which reduced the defective rate of GE products to 34 parts per million, virtually redefined the modern enterprise. However, Welch had been at GE to carry out substantial layoffs, layoffs rate as high as 40%, becoming Welch's most controversial reform, also known as the "neutron bomb Jack".
It is understood that Welch's funeral will probably be held in St. Patrick's Cathedral (St. Patrick's Cathedral), but the date has not yet been determined.
Expanded:
Welch's four management principles:
1, resilience
Welch believes that decisiveness and resilience are not contradictory, and that the management model and business philosophy must will change due to the subjective and objective environment, which makes the world's highest market capitalization of GE still maintains a rare vitality and flexibility.
He even suggested that a company should withdraw from any business if it could not occupy the top three positions in the industry's market share, or if it could not make a profit. This harsh standard, which caused much controversy, did not lead to a decline in company turnover, but instead made GE, which focused on its core business, more competitive and more profitable.
2, organization
Welch is a doctor of chemical engineering at the University of Illinois, reflected in the management, is very good at organizing the work of the extremely well organized, he will be the annual meeting, and even every day's work are arranged scientifically and compact, in the busy work can also get the expected results.
3, communication
Welch's most successful place, is that he established a corporate culture of informal communication in GE. He often "micro-visits", and may even write or call any of the 340,000 employees worldwide directly, people use "Jack" to call him.
This is true not only for employees, but also for customers. One of his most cited examples is the idea of running GE with the mindset of a "grocery store," where the customer comes first, and there's no red tape, no fuss, no muss, no fuss.
4, education
Welch attaches great importance to on-the-job training and education of employees, so that GE has always been proud of its human resources. GE invests a lot each year in employee training, and is known for training top executives, and GE has been called the cradle of CEOs. GE is known as the cradle of CEOs. Cultivating so many outstanding talents reflects Welch's superior management wisdom and leadership art.
Welch's management principles have not only made GE a powerful and highly respected company, but have also left a good example for the management world.
People's Daily News - Welch's Four Management Principles
Baidu Encyclopedia - Welch