Daily quote |
Jack Welch (John Francis Welch, Jr.)I was afraid of the internet... because I couldn't type. I've learned that mistakes can often be as good a teacher as success. If GE's strategy of investment in China is wrong, it represents a loss of a billion dollars, perhaps a couple of billion dollars. If it is right, it is the future of this company for the next century. If you don't have a competitive advantage, don't compete. If you pick the right people and give them the opportunity to spread their wings and put compensation as a carrier behind it you almost don't have to manage them. My main job was developing talent. I was a gardener providing water and other nourishment to our top 750 people. Of course, I had to pull out some weeds, too. Number one, cash is king... number two, communicate... number three, buy or bury the competition. Strong managers who make tough decisions to cut jobs provide the only true job security in today's world. Weak managers are the problem. Weak managers destroy jobs. The 1980s will seem like a walk in the park when compared to new global challenges, where annual productivity increases of 6% may not be enough. A combination of software, brains, and running harder will be needed to bring that percentage up to 8% or 9%. The essence of competitiveness is liberated when we make people believe that what they think and do is important - and then get out of their way while they do it. |