we had breakdowns in the system we ended up on the front page of The Wall Street
up on the front page of The Wall Street
up on the front page of The Wall Street Journal find every excuse to have a
Journal find every excuse to have a
Journal find every excuse to have a party so I think innovation is
party so I think innovation is
party so I think innovation is everywhere I think it’s in in the
everywhere I think it’s in in the
everywhere I think it’s in in the structure your organization you got to
structure your organization you got to
structure your organization you got to be over here with the needle to get the
be over here with the needle to get the
be over here with the needle to get the needle here somebody’s out there waiting
needle here somebody’s out there waiting
needle here somebody’s out there waiting to pluck you or anywhere they work on
to pluck you or anywhere they work on
to pluck you or anywhere they work on say I’m dreaming please I’m not gonna
say I’m dreaming please I’m not gonna
say I’m dreaming please I’m not gonna make any numbers for a while people
make any numbers for a while people
make any numbers for a while people today are just better you grow from the
today are just better you grow from the
today are just better you grow from the reflected glory of your people never do
reflected glory of your people never do
reflected glory of your people never do what the assignments do more than that
what the assignments do more than that
what the assignments do more than that thousands of people walk walk walk
thousands of people walk walk walk
thousands of people walk walk walk around frightened to death about what’s
around frightened to death about what’s
around frightened to death about what’s gonna happen he’s a retired American
gonna happen he’s a retired American
gonna happen he’s a retired American business executive author and chemical
business executive author and chemical
business executive author and chemical engineer he was chairman and CEO of
engineer he was chairman and CEO of
engineer he was chairman and CEO of General Electric between 1981 and 2000 I
General Electric between 1981 and 2000 I
General Electric between 1981 and 2000 I won
won
won during his tenure at GE the company’s
during his tenure at GE the company’s
during his tenure at GE the company’s value rose 4,000% he’s Jack Welch and
value rose 4,000% he’s Jack Welch and
value rose 4,000% he’s Jack Welch and here’s his top ten rules for success
well I was tumultuous in the early
well I was tumultuous in the early career I have a totally impetuous I have
career I have a totally impetuous I have
career I have a totally impetuous I have always had a stammer so that’s a
always had a stammer so that’s a
always had a stammer so that’s a weakness from the beginning to the end I
weakness from the beginning to the end I
weakness from the beginning to the end I think that’ll be there I think I think
think that’ll be there I think I think
think that’ll be there I think I think if I if I go at it I made mistakes on
if I if I go at it I made mistakes on
if I if I go at it I made mistakes on deals
deals
deals I don’t openly admit it I walk around
I don’t openly admit it I walk around
I don’t openly admit it I walk around talking about if I can make it this big
talking about if I can make it this big
talking about if I can make it this big a dopey move anybody can make a move
a dopey move anybody can make a move
a dopey move anybody can make a move don’t be paralyzed I made lots of
don’t be paralyzed I made lots of
don’t be paralyzed I made lots of mistakes on people I hired people in the
mistakes on people I hired people in the
mistakes on people I hired people in the early days I had him almost always on
early days I had him almost always on
early days I had him almost always on resumes and slickness which is probably
resumes and slickness which is probably
resumes and slickness which is probably inversely proportional to talent
so I did a number of these things on a
so I did a number of these things on a fairly frequent basis but I talked about
fairly frequent basis but I talked about
fairly frequent basis but I talked about it I think the thing is talking about
it I think the thing is talking about
it I think the thing is talking about what you what you what your mistakes I
what you what you what your mistakes I
what you what you what your mistakes I helps that organization enormous ly yeah
helps that organization enormous ly yeah
helps that organization enormous ly yeah it allows them to feel free to make em I
it allows them to feel free to make em I
it allows them to feel free to make em I mean I bought a decimal Bank it Kidder
mean I bought a decimal Bank it Kidder
mean I bought a decimal Bank it Kidder Peabody no one could make a mistake
Peabody no one could make a mistake
Peabody no one could make a mistake thing in that Boo Boo’s we had we did
thing in that Boo Boo’s we had we did
thing in that Boo Boo’s we had we did not have run it we had breakdowns in the
not have run it we had breakdowns in the
not have run it we had breakdowns in the system we ended up on the front page of
system we ended up on the front page of
system we ended up on the front page of Wall Street Journal 17 times in 14
Wall Street Journal 17 times in 14
Wall Street Journal 17 times in 14 months right hand column being called
months right hand column being called
months right hand column being called dopes that’s not fun and we went through
dopes that’s not fun and we went through
dopes that’s not fun and we went through that because it was a cultural era that
that because it was a cultural era that
that because it was a cultural era that I that I personally made and I owned up
I that I personally made and I owned up
I that I personally made and I owned up to what talk to everybody about it a
to what talk to everybody about it a
to what talk to everybody about it a boss is entire job is to get the
boss is entire job is to get the
boss is entire job is to get the combined intellect of his team to be
combined intellect of his team to be
combined intellect of his team to be raised to a new level and to instill
raised to a new level and to instill
raised to a new level and to instill spirit find every way to celebrate find
spirit find every way to celebrate find
spirit find every way to celebrate find every excuse to have a party but every
every excuse to have a party but every
every excuse to have a party but every little victory counts I mean it is so if
little victory counts I mean it is so if
little victory counts I mean it is so if a boss can’t energize if he or she can’t
a boss can’t energize if he or she can’t
a boss can’t energize if he or she can’t excite and make people want to be there
excite and make people want to be there
excite and make people want to be there they shouldn’t have that title well I
they shouldn’t have that title well I
they shouldn’t have that title well I think people too often think of
think people too often think of
think people too often think of innovation is going to the lab going off
innovation is going to the lab going off
innovation is going to the lab going off in the garage and designing something
in the garage and designing something
in the garage and designing something new and bring it to market
new and bring it to market
new and bring it to market I think innovations all around you you
I think innovations all around you you
I think innovations all around you you see you smell something that somebody
see you smell something that somebody
see you smell something that somebody else is doing you adapt it to your place
else is doing you adapt it to your place
else is doing you adapt it to your place and take it to new new levels that’s a
and take it to new new levels that’s a
and take it to new new levels that’s a breakthrough for your company and the
breakthrough for your company and the
breakthrough for your company and the process never stops and if you’ve got a
process never stops and if you’ve got a
process never stops and if you’ve got a company that has a mentality inside that
company that has a mentality inside that
company that has a mentality inside that is filled with searching for a better
is filled with searching for a better
is filled with searching for a better idea every day not just as a slogan but
idea every day not just as a slogan but
idea every day not just as a slogan but as a real concept you will have
as a real concept you will have
as a real concept you will have innovation around you all the time
innovation around you all the time
innovation around you all the time classic example we add an innovation by
classic example we add an innovation by
classic example we add an innovation by going to India we went in in India in
going to India we went in in India in
going to India we went in in India in the late 80s and we want there to sell
the late 80s and we want there to sell
the late 80s and we want there to sell lots of products to a billion people
lots of products to a billion people
lots of products to a billion people well 15 years like later we still
well 15 years like later we still
well 15 years like later we still haven’t reached a bid
haven’t reached a bid
haven’t reached a bid in dollars in sales but we’ve got
in dollars in sales but we’ve got
in dollars in sales but we’ve got forty-one thousand employees because we
forty-one thousand employees because we
forty-one thousand employees because we found intellect and we were the first
found intellect and we were the first
found intellect and we were the first people to go there and build huge R&D
people to go there and build huge R&D
people to go there and build huge R&D centers technology centers by using the
centers technology centers by using the
centers technology centers by using the intellect that was it that’s innovation
intellect that was it that’s innovation
intellect that was it that’s innovation getting stuck in one corner when when
getting stuck in one corner when when
getting stuck in one corner when when bureaucracy won’t let you sell products
bureaucracy won’t let you sell products
bureaucracy won’t let you sell products but finding it another answer intellect
but finding it another answer intellect
but finding it another answer intellect and capitalize on your so I think
and capitalize on your so I think
and capitalize on your so I think innovation is everywhere I think it’s in
innovation is everywhere I think it’s in
innovation is everywhere I think it’s in in the structure your organization I
in the structure your organization I
in the structure your organization I think it’s in every process you deal
think it’s in every process you deal
think it’s in every process you deal with it’s just finding a better way to
with it’s just finding a better way to
with it’s just finding a better way to do things every day I think everything
do things every day I think everything
do things every day I think everything has to be a closed loop you drive it
has to be a closed loop you drive it
has to be a closed loop you drive it with people you measure it with the
with people you measure it with the
with people you measure it with the people and then you go visit it and you
people and then you go visit it and you
people and then you go visit it and you go visit the progress now you’ll get a
go visit the progress now you’ll get a
go visit the progress now you’ll get a lot of air and nonsense when you go
lot of air and nonsense when you go
lot of air and nonsense when you go visit you’ll see it’ll be it mean for
visit you’ll see it’ll be it mean for
visit you’ll see it’ll be it mean for example in Six Sigma if the amount of
example in Six Sigma if the amount of
example in Six Sigma if the amount of savings I was presented in the course of
savings I was presented in the course of
savings I was presented in the course of Six Sigma we’re all added up it would
Six Sigma we’re all added up it would
Six Sigma we’re all added up it would have been larger than the GDP of the
have been larger than the GDP of the
have been larger than the GDP of the United States so I mean the PowerPoint
United States so I mean the PowerPoint
United States so I mean the PowerPoint slides can accumulate enormous events so
slides can accumulate enormous events so
slides can accumulate enormous events so all these things are hype to an extent
all these things are hype to an extent
all these things are hype to an extent but they gotta be you cannot you cannot
but they gotta be you cannot you cannot
but they gotta be you cannot you cannot make change with rational behavior you
make change with rational behavior you
make change with rational behavior you cannot make change by like let’s have
cannot make change by like let’s have
cannot make change by like let’s have quality program quality is good
quality program quality is good
quality program quality is good everybody let’s go at it let’s make sure
everybody let’s go at it let’s make sure
everybody let’s go at it let’s make sure our customers feel good without without
our customers feel good without without
our customers feel good without without quality you guys they know quark our
quality you guys they know quark our
quality you guys they know quark our quality stinks we’ve got to improve it
quality stinks we’ve got to improve it
quality stinks we’ve got to improve it dramatically only the best people can be
dramatically only the best people can be
dramatically only the best people can be on it
on it
on it half of our offices by the Year 2005
half of our offices by the Year 2005
half of our offices by the Year 2005 will it will have been black belts in
will it will have been black belts in
will it will have been black belts in quality the stock options and the awards
quality the stock options and the awards
quality the stock options and the awards are going to those leading the efforts
are going to those leading the efforts
are going to those leading the efforts and you’ve got to be you got to be a
and you’ve got to be you got to be a
and you’ve got to be you got to be a maniac about it to move it you got to be
maniac about it to move it you got to be
maniac about it to move it you got to be over here with the needle to get the
over here with the needle to get the
over here with the needle to get the needle here if you’re sitting there
needle here if you’re sitting there
needle here if you’re sitting there comfortable in what you’re doing you can
comfortable in what you’re doing you can
comfortable in what you’re doing you can be sure with you with your nicer wards
be sure with you with your nicer wards
be sure with you with your nicer wards of number one here number one here
of number one here number one here
of number one here number one here number one the baguette and number one
number one the baguette and number one
number one the baguette and number one this one number one that one somebody’s
this one number one that one somebody’s
this one number one that one somebody’s out there waiting to pluck you
out there waiting to pluck you
out there waiting to pluck you and you can’t get comfortable and at
and you can’t get comfortable and at
and you can’t get comfortable and at that rate of change if you start seeing
that rate of change if you start seeing
that rate of change if you start seeing stuff you got a move the only job of a
stuff you got a move the only job of a
stuff you got a move the only job of a leader is you when you ran for Europe or
leader is you when you ran for Europe or
leader is you when you ran for Europe or anyone in this room running businesses
anyone in this room running businesses
anyone in this room running businesses the only reason for having the job is to
the only reason for having the job is to
the only reason for having the job is to make the right trade house between
make the right trade house between
make the right trade house between cutting costs productivity efficiency
cutting costs productivity efficiency
cutting costs productivity efficiency and developing new ideas and new
and developing new ideas and new
and developing new ideas and new products and anybody in the world for
products and anybody in the world for
products and anybody in the world for example I love these CEOs and say oh I’d
example I love these CEOs and say oh I’d
example I love these CEOs and say oh I’d like to have it
like to have it
like to have it I hate these analyst presentations and
I hate these analyst presentations and
I hate these analyst presentations and was they pressing me for quarterly
was they pressing me for quarterly
was they pressing me for quarterly earnings etc etc look any jerk in the
earnings etc etc look any jerk in the
earnings etc etc look any jerk in the world can squeeze all day and say talk
world can squeeze all day and say talk
world can squeeze all day and say talk to me in five years about my growth or
to me in five years about my growth or
to me in five years about my growth or anywhere they were going to say I’m
anywhere they were going to say I’m
anywhere they were going to say I’m dreaming please I’m not going to make
dreaming please I’m not going to make
dreaming please I’m not going to make any numbers for a while you can squeeze
any numbers for a while you can squeeze
any numbers for a while you can squeeze or you can dream but a manager does both
or you can dream but a manager does both
or you can dream but a manager does both elite it does both you dream in your
elite it does both you dream in your
elite it does both you dream in your squeeze you eat while you dream and
squeeze you eat while you dream and
squeeze you eat while you dream and there’s no and it’s no getting around
there’s no and it’s no getting around
there’s no and it’s no getting around that’s why you’re paid any jerk and do
that’s why you’re paid any jerk and do
that’s why you’re paid any jerk and do one of the other but it’s your job to
one of the other but it’s your job to
one of the other but it’s your job to make those trade-offs you got to see
make those trade-offs you got to see
make those trade-offs you got to see everyone as a mentor the whole crowd
everyone as a mentor the whole crowd
everyone as a mentor the whole crowd somebody who works for you might be a
somebody who works for you might be a
somebody who works for you might be a magic I remember when when I became CEO
magic I remember when when I became CEO
magic I remember when when I became CEO I was not a great financial wizard I
I was not a great financial wizard I
I was not a great financial wizard I never did become a financial wizard but
never did become a financial wizard but
never did become a financial wizard but I at least I had this fellow who worked
I at least I had this fellow who worked
I at least I had this fellow who worked for me ten years my junior 34 3 3 3
for me ten years my junior 34 3 3 3
for me ten years my junior 34 3 3 3 years old while I made CFO he basically
years old while I made CFO he basically
years old while I made CFO he basically dumped his brain into mine I live with
dumped his brain into mine I live with
dumped his brain into mine I live with him and as we went through all the stuff
him and as we went through all the stuff
him and as we went through all the stuff left side right side and suddenly the
left side right side and suddenly the
left side right side and suddenly the balance sheet from A to Z and and he was
balance sheet from A to Z and and he was
balance sheet from A to Z and and he was an enormously valuable person I’ve had
an enormously valuable person I’ve had
an enormously valuable person I’ve had people who run on my board who were
people who run on my board who were
people who run on my board who were completely committed to our success who
completely committed to our success who
completely committed to our success who would challenge every people appointment
would challenge every people appointment
would challenge every people appointment I would make who would have a is sure
I would make who would have a is sure
I would make who would have a is sure hey right I think the business media is
hey right I think the business media is
hey right I think the business media is a great mentor he may laugh at that but
a great mentor he may laugh at that but
a great mentor he may laugh at that but I think fortune Businessweek it there’s
I think fortune Businessweek it there’s
I think fortune Businessweek it there’s a business language I find them mentors
a business language I find them mentors
a business language I find them mentors read every story
read every story
read every story I can’t understand why somebody can be
I can’t understand why somebody can be
I can’t understand why somebody can be in business and not read all those
in business and not read all those
in business and not read all those stories I think you learn you learn what
stories I think you learn you learn what
stories I think you learn you learn what strategies didn’t work didn’t work some
strategies didn’t work didn’t work some
strategies didn’t work didn’t work some of the stories aren’t quite accurate
of the stories aren’t quite accurate
of the stories aren’t quite accurate some of the line through so what you’re
some of the line through so what you’re
some of the line through so what you’re constantly learning the rhythm of
constantly learning the rhythm of
constantly learning the rhythm of business so education and teaching is
business so education and teaching is
business so education and teaching is all around you it as far as today’s reel
all around you it as far as today’s reel
all around you it as far as today’s reel is we have an anonymous tag cadre people
is we have an anonymous tag cadre people
is we have an anonymous tag cadre people today are just better than they were
today are just better than they were
today are just better than they were before it’s more competitive it’s no
before it’s more competitive it’s no
before it’s more competitive it’s no longer when you become CEO today it’s no
longer when you become CEO today it’s no
longer when you become CEO today it’s no longer the coronation it’s the beginning
longer the coronation it’s the beginning
longer the coronation it’s the beginning of a new competitive career I remember
of a new competitive career I remember
of a new competitive career I remember one night in 1980 when I became CEO I
one night in 1980 when I became CEO I
one night in 1980 when I became CEO I would go to these meetings where people
would go to these meetings where people
would go to these meetings where people would sit around and that briefing books
would sit around and that briefing books
would sit around and that briefing books prepared by huge staffs and their
prepared by huge staffs and their
prepared by huge staffs and their pontificate about the economy and the
pontificate about the economy and the
pontificate about the economy and the other nonsense that meant nothing is
other nonsense that meant nothing is
other nonsense that meant nothing is mouthing words it was a ridiculous now
mouthing words it was a ridiculous now
mouthing words it was a ridiculous now today people in shirtsleeves
today people in shirtsleeves
today people in shirtsleeves getting in there and doing it cuz the
getting in there and doing it cuz the
getting in there and doing it cuz the global competition is so tough I think
global competition is so tough I think
global competition is so tough I think building an organization building a team
building an organization building a team
building an organization building a team the idea that Jack Welch is the hero of
the idea that Jack Welch is the hero of
the idea that Jack Welch is the hero of creating all this value is silly getting
creating all this value is silly getting
creating all this value is silly getting great people in all these jobs it’s a
great people in all these jobs it’s a
great people in all these jobs it’s a team that makes this thing happen and so
team that makes this thing happen and so
team that makes this thing happen and so building a team is your strongest suit
building a team is your strongest suit
building a team is your strongest suit and you’ve got to love your team you’re
and you’ve got to love your team you’re
and you’ve got to love your team you’re going to want your team to be promoted
going to want your team to be promoted
going to want your team to be promoted and when you’re coming up the biggest
and when you’re coming up the biggest
and when you’re coming up the biggest problem I find with young MBAs at first
problem I find with young MBAs at first
problem I find with young MBAs at first the job is you shining raising your hand
the job is you shining raising your hand
the job is you shining raising your hand having the answers they want to do that
having the answers they want to do that
having the answers they want to do that all the time they just go to school they
all the time they just go to school they
all the time they just go to school they want to show you how smart they are now
want to show you how smart they are now
want to show you how smart they are now the transition to manager it all changes
the transition to manager it all changes
the transition to manager it all changes it’s about growing your people not you
it’s about growing your people not you
it’s about growing your people not you you grow from the reflected glory of
you grow from the reflected glory of
you grow from the reflected glory of your people so it’s all about making
your people so it’s all about making
your people so it’s all about making them flourish I like to use the line
them flourish I like to use the line
them flourish I like to use the line that your job is walking around with a
that your job is walking around with a
that your job is walking around with a can of water in one hand a can of
can of water in one hand a can of
can of water in one hand a can of fertilizer on the other hand sprinkling
fertilizer on the other hand sprinkling
fertilizer on the other hand sprinkling on the seeds and watching them grow
on the seeds and watching them grow
on the seeds and watching them grow you’ll get some weeds and you got to
you’ll get some weeds and you got to
you’ll get some weeds and you got to pull those weeds out so everyone’s not
pull those weeds out so everyone’s not
pull those weeds out so everyone’s not going to flourish but you’ve got a
going to flourish but you’ve got a
going to flourish but you’ve got a be thinking about all the time loving to
be thinking about all the time loving to
be thinking about all the time loving to see your people thrive loving to see
see your people thrive loving to see
see your people thrive loving to see them get promoted it’s a real turn-on it
them get promoted it’s a real turn-on it
them get promoted it’s a real turn-on it is what management’s all about it’s
is what management’s all about it’s
is what management’s all about it’s about bringing to people great lives
about bringing to people great lives
about bringing to people great lives great futures changing their family’s
great futures changing their family’s
great futures changing their family’s life that’s a turn-on it’s a big deal
life that’s a turn-on it’s a big deal
life that’s a turn-on it’s a big deal that’s what you’re going to think about
that’s what you’re going to think about
that’s what you’re going to think about when you work it in a business and
when you work it in a business and
when you work it in a business and you’re asked to do something if you just
you’re asked to do something if you just
you’re asked to do something if you just do what the boss asks you to do you will
do what the boss asks you to do you will
do what the boss asks you to do you will end up just confirming what the boss
end up just confirming what the boss
end up just confirming what the boss wanted to have written down they already
wanted to have written down they already
wanted to have written down they already knew the answer when they asked the
knew the answer when they asked the
knew the answer when they asked the question so your job and a new job is to
question so your job and a new job is to
question so your job and a new job is to over-deliver give them new perspectives
over-deliver give them new perspectives
over-deliver give them new perspectives when anybody has some schools ask you
when anybody has some schools ask you
when anybody has some schools ask you for a problem problem solving in a case
for a problem problem solving in a case
for a problem problem solving in a case then they ask you the questions so you
then they ask you the questions so you
then they ask you the questions so you answer the questions you don’t get the
answer the questions you don’t get the
answer the questions you don’t get the answer you don’t get the questions in
answer you don’t get the questions in
answer you don’t get the questions in business you have to develop a
business you have to develop a
business you have to develop a perspective that’s wider and I always
perspective that’s wider and I always
perspective that’s wider and I always tell the story of my of my first job I
tell the story of my of my first job I
tell the story of my of my first job I was a project manager in a little
was a project manager in a little
was a project manager in a little plastic operation in Pittsfield Mass and
plastic operation in Pittsfield Mass and
plastic operation in Pittsfield Mass and my boss from New York was coming up to
my boss from New York was coming up to
my boss from New York was coming up to see I’m not my high boss my boss’s boss
see I’m not my high boss my boss’s boss
see I’m not my high boss my boss’s boss and they wanted me to come in one of
and they wanted me to come in one of
and they wanted me to come in one of those gee white shirt pictures they
those gee white shirt pictures they
those gee white shirt pictures they present the cases for my new plastic
present the cases for my new plastic
present the cases for my new plastic tell them where I was going so I got all
tell them where I was going so I got all
tell them where I was going so I got all prepared enough but what I did what I
prepared enough but what I did what I
prepared enough but what I did what I did do is I didn’t talk about my project
did do is I didn’t talk about my project
did do is I didn’t talk about my project alone I talked about the ten plastics in
alone I talked about the ten plastics in
alone I talked about the ten plastics in the industry where they were going to be
the industry where they were going to be
the industry where they were going to be in five years their cost structure from
in five years their cost structure from
in five years their cost structure from do tout cela nice to Pont etc I’d give
do tout cela nice to Pont etc I’d give
do tout cela nice to Pont etc I’d give up that pact I gave my boy my boss’s
up that pact I gave my boy my boss’s
up that pact I gave my boy my boss’s boss this picture of the industry I
boss this picture of the industry I
boss this picture of the industry I think answering like a notice there I
think answering like a notice there I
think answering like a notice there I was I got out of the pile because I
was I got out of the pile because I
was I got out of the pile because I didn’t just give him my project report
didn’t just give him my project report
didn’t just give him my project report ever I did yesterday if I get tomorrow
ever I did yesterday if I get tomorrow
ever I did yesterday if I get tomorrow history will do next day a game of
history will do next day a game of
history will do next day a game of perspective and made him look smarter he
perspective and made him look smarter he
perspective and made him look smarter he knows more about the industry than he
knows more about the industry than he
knows more about the industry than he ever knew and that’s what you want to do
ever knew and that’s what you want to do
ever knew and that’s what you want to do you always want to over-deliver never do
you always want to over-deliver never do
you always want to over-deliver never do what
what
what assignments do more than that wider new
assignments do more than that wider new
assignments do more than that wider new insights new arises well if your elite
insights new arises well if your elite
insights new arises well if your elite up because we have to demonstrate you
up because we have to demonstrate you
up because we have to demonstrate you have to be open you have to be able to
have to be open you have to be able to
have to be open you have to be able to admit mistakes you have to be able to
admit mistakes you have to be able to
admit mistakes you have to be able to cut through the business ease you’ve got
cut through the business ease you’ve got
cut through the business ease you’ve got to be able to talk to every person in
to be able to talk to every person in
to be able to talk to every person in your organization in such a way that
your organization in such a way that
your organization in such a way that they know where they stand no one can be
they know where they stand no one can be
they know where they stand no one can be a manager without know no one can call
a manager without know no one can call
a manager without know no one can call themselves a manager and have employees
themselves a manager and have employees
themselves a manager and have employees working for them when the employees
working for them when the employees
working for them when the employees don’t know exactly where they stand
don’t know exactly where they stand
don’t know exactly where they stand where they are relative to others where
where they are relative to others where
where they are relative to others where they’re going in their career when
they’re going in their career when
they’re going in their career when you’re debating a deal you’ve got to lay
you’re debating a deal you’ve got to lay
you’re debating a deal you’ve got to lay it you’ve got to have an atmosphere
it you’ve got to have an atmosphere
it you’ve got to have an atmosphere where everybody gets it on the table not
where everybody gets it on the table not
where everybody gets it on the table not massive powerpoint slides numbing shots
massive powerpoint slides numbing shots
massive powerpoint slides numbing shots that put people to sleep but really
that put people to sleep but really
that put people to sleep but really dialogue face to face eyeball to eyeball
dialogue face to face eyeball to eyeball
dialogue face to face eyeball to eyeball confrontation about why the deal works
confrontation about why the deal works
confrontation about why the deal works or doesn’t work and you demonstrate that
or doesn’t work and you demonstrate that
or doesn’t work and you demonstrate that yourself you yourself would be if the
yourself you yourself would be if the
yourself you yourself would be if the place is tied up instant in its knickers
place is tied up instant in its knickers
place is tied up instant in its knickers it’ll be because you are setting an
it’ll be because you are setting an
it’ll be because you are setting an atmosphere that isn’t open isn’t fun
atmosphere that isn’t open isn’t fun
atmosphere that isn’t open isn’t fun making fun we used to make fun of people
making fun we used to make fun of people
making fun we used to make fun of people that wouldn’t be open them you know Josh
that wouldn’t be open them you know Josh
that wouldn’t be open them you know Josh about it just to try and lighten up hang
about it just to try and lighten up hang
about it just to try and lighten up hang up so they’d get their it candor can
up so they’d get their it candor can
up so they’d get their it candor can kill you though because can if you’re in
kill you though because can if you’re in
kill you though because can if you’re in a stiff rigid hierarchy you’ve got to be
a stiff rigid hierarchy you’ve got to be
a stiff rigid hierarchy you’ve got to be able to use it right because if nobody
able to use it right because if nobody
able to use it right because if nobody above you is practicing it you coming in
above you is practicing it you coming in
above you is practicing it you coming in swing for the fences it could be
swing for the fences it could be
swing for the fences it could be troublesome so I am going to believe it
troublesome so I am going to believe it
troublesome so I am going to believe it speeds everything in business it speeds
speeds everything in business it speeds
speeds everything in business it speeds decision-making it moves the
decision-making it moves the
decision-making it moves the organization competitively faster it
organization competitively faster it
organization competitively faster it gets people to be open about where they
gets people to be open about where they
gets people to be open about where they fit I was over at the BBC this week and
fit I was over at the BBC this week and
fit I was over at the BBC this week and this place is the most paralyzed place
this place is the most paralyzed place
this place is the most paralyzed place I’ve seen in my lifetime I mean
I’ve seen in my lifetime I mean
I’ve seen in my lifetime I mean people thousands of people walk walk
people thousands of people walk walk
people thousands of people walk walk walk around frightened to death about
walk around frightened to death about
walk around frightened to death about what’s going to happen are they going to
what’s going to happen are they going to
what’s going to happen are they going to get sack everywhere every interview I
get sack everywhere every interview I
get sack everywhere every interview I had they asked about well you know
had they asked about well you know
had they asked about well you know somebody gets on a gets sacked in this
somebody gets on a gets sacked in this
somebody gets on a gets sacked in this new round we’re going through here and
new round we’re going through here and
new round we’re going through here and no one knew where they stood and so the
no one knew where they stood and so the
no one knew where they stood and so the management there is just being cruel so
management there is just being cruel so
management there is just being cruel so employees are walking around not knowing
employees are walking around not knowing
employees are walking around not knowing where they stand you can’t have an
where they stand you can’t have an
where they stand you can’t have an organization where people don’t know
organization where people don’t know
organization where people don’t know where you as the professor of
where you as the professor of
where you as the professor of organizational dynamics you know but
organizational dynamics you know but
organizational dynamics you know but you’ve got to let people know where they
you’ve got to let people know where they
you’ve got to let people know where they stand they can’t be in this frighten
stand they can’t be in this frighten
stand they can’t be in this frighten paralysis state nothing happens thanks
paralysis state nothing happens thanks
paralysis state nothing happens thanks so much for watching we made this video
so much for watching we made this video
so much for watching we made this video because Ryan J Davies asked us to so if
because Ryan J Davies asked us to so if
because Ryan J Davies asked us to so if you have a famous entrepreneur you want
you have a famous entrepreneur you want
you have a famous entrepreneur you want us to profile next leave it down in the
us to profile next leave it down in the
us to profile next leave it down in the comment section below and we’ll see what
comment section below and we’ll see what
comment section below and we’ll see what we can do also we love to know which one
we can do also we love to know which one
we can do also we love to know which one of Jack Welch’s top ten rules meant the
of Jack Welch’s top ten rules meant the
of Jack Welch’s top ten rules meant the most to you leave it in the comments
most to you leave it in the comments
most to you leave it in the comments below and we’ll enjoy it in the
below and we’ll enjoy it in the
below and we’ll enjoy it in the discussion thank you so much for
discussion thank you so much for
discussion thank you so much for watching
watching
watching continue to believe and we’ll see you
continue to believe and we’ll see you
continue to believe and we’ll see you soon
differentiation is a big valuable I
differentiation is a big valuable I don’t believe you can run a company
don’t believe you can run a company
don’t believe you can run a company without having an organization that
without having an organization that
without having an organization that differentiates differentiates on how it
differentiates differentiates on how it
differentiates differentiates on how it treats different businesses some would
treats different businesses some would
treats different businesses some would more not equal and people not equal
more not equal and people not equal
more not equal and people not equal takes care of the Stars motivates the
takes care of the Stars motivates the
takes care of the Stars motivates the middle and asks the bottom to move on
middle and asks the bottom to move on
middle and asks the bottom to move on I believe that did you think the
I believe that did you think the
I believe that did you think the Patriots keep the worst players why
Patriots keep the worst players why
Patriots keep the worst players why should a sports team Keith were suppose
should a sports team Keith were suppose
should a sports team Keith were suppose the silliest thing that I hear when we
the silliest thing that I hear when we
the silliest thing that I hear when we talk about differentiation and we and we
talk about differentiation and we and we
talk about differentiation and we and we get this all the time is how can you
get this all the time is how can you
get this all the time is how can you possibly be telling somebody they’re not
possibly be telling somebody they’re not
possibly be telling somebody they’re not that good and somebody else is that good
that good and somebody else is that good
that good and somebody else is that good well why should you stop getting grades
well why should you stop getting grades
well why should you stop getting grades the day you leave bu why should a grown
the day you leave bu why should a grown
the day you leave bu why should a grown up not be able to it great but a sixth
up not be able to it great but a sixth
up not be able to it great but a sixth grader is given best in the class and we
grader is given best in the class and we
grader is given best in the class and we gives in the class it’s the dumbest idea
gives in the class it’s the dumbest idea
gives in the class it’s the dumbest idea in the world so you want to tell people
in the world so you want to tell people
in the world so you want to tell people where they stand as a manager people
where they stand as a manager people
where they stand as a manager people always have to know where they said you
always have to know where they said you
always have to know where they said you can’t be turning away from it and then
can’t be turning away from it and then
can’t be turning away from it and then one went one day going in saying we’re
one went one day going in saying we’re
one went one day going in saying we’re having a layup
having a layup
having a layup now when Ford has this big 30,000 left
now when Ford has this big 30,000 left
now when Ford has this big 30,000 left layoff hopefully they got in the
layoff hopefully they got in the
layoff hopefully they got in the performance appraisal system that
performance appraisal system that
performance appraisal system that somebody wants ey me and somebody said
somebody wants ey me and somebody said
somebody wants ey me and somebody said well you weren’t very good now you pull
well you weren’t very good now you pull
well you weren’t very good now you pull out the appraisals let’s say they were
out the appraisals let’s say they were
out the appraisals let’s say they were great for the last 10 years you want
great for the last 10 years you want
great for the last 10 years you want candor you want differentiation and
candor you want differentiation and
candor you want differentiation and those are values I believe in I walked
those are values I believe in I walked
those are values I believe in I walked around G preaching constantly don’t you
around G preaching constantly don’t you
around G preaching constantly don’t you ever think you’re a victim if you ever
ever think you’re a victim if you ever
ever think you’re a victim if you ever feel like a victim get out because if
feel like a victim get out because if
feel like a victim get out because if enough of you get out we’ll find out
enough of you get out we’ll find out
enough of you get out we’ll find out who’s making you feel like a victim it’s
who’s making you feel like a victim it’s
who’s making you feel like a victim it’s your job to take responsibility go find
your job to take responsibility go find
your job to take responsibility go find another game there’s plenty of games
another game there’s plenty of games
another game there’s plenty of games here unemployment slow here go find
here unemployment slow here go find
here unemployment slow here go find something else go on your own
something else go on your own
something else go on your own do something but Jesus don’t spend most
do something but Jesus don’t spend most
do something but Jesus don’t spend most your waking hours feeling like a victim
your waking hours feeling like a victim
your waking hours feeling like a victim if you ever say something is important
if you ever say something is important
if you ever say something is important in your organization you better put your
in your organization you better put your
in your organization you better put your best person on it because your whole
best person on it because your whole
best person on it because your whole organization is evaluating how important
organization is evaluating how important
organization is evaluating how important it is by who you staff it with the
it is by who you staff it with the
it is by who you staff it with the biggest mistakes CEOs makers let me
biggest mistakes CEOs makers let me
biggest mistakes CEOs makers let me give you this big puffy speech about how
give you this big puffy speech about how
give you this big puffy speech about how critical this is inventory turns are
critical this is inventory turns are
critical this is inventory turns are critical we need to get our cash flow
critical we need to get our cash flow
critical we need to get our cash flow improved and then they hire Joe four
improved and then they hire Joe four
improved and then they hire Joe four months from retirement to lead the
months from retirement to lead the
months from retirement to lead the effort and the whole place just goes
effort and the whole place just goes
effort and the whole place just goes into a yard Joe is like a gas paint
into a yard Joe is like a gas paint
into a yard Joe is like a gas paint you’ll go away and and and that’s what
you’ll go away and and and that’s what
you’ll go away and and and that’s what happens to the initiative and so it’s an
happens to the initiative and so it’s an
happens to the initiative and so it’s an enormous problem you say something’s
enormous problem you say something’s
enormous problem you say something’s important stop it that way follow up
important stop it that way follow up
important stop it that way follow up that way closed-loop measure that way
that way closed-loop measure that way
that way closed-loop measure that way but I’m sure many of you have had
but I’m sure many of you have had
but I’m sure many of you have had experiences where people would
experiences where people would
experiences where people would articulate the criticalness of an oven
articulate the criticalness of an oven
articulate the criticalness of an oven of an issue and then put some okay
of an issue and then put some okay
of an issue and then put some okay player only a best
”
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