Word: ge
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...manager extraordinaire Jack Welch, chair and CEO of General Electric (GE) and Harvard Business School's Class Day speaker this year...
...people laughed at me when I said, 'There are two great leaders in the 20th century. One is Alfred Sloane [of General Motors] and the one that will really be remembered is Jack Welch,'" says Noel M. Tichy, a GE observer and University of Michigan management professor...
...Welch joined GE as a junior engineer in 1960 but quit after a year, tired of GE's bureaucracy, to head to International Minerals & Chemicals in Skokie, Ill. If not for the intervention of a superior who was impressed with the young Welch, the futures of GE and Welch might have looked very different...
...superior persuaded Welch to stay. And under the direction of Welch, GE has broken one earnings record after another as other businesses have come tumbling down under the pressures of global competition. With $437 billion in assets and $130 billion in sales, GE has grown to include NBC in its empire as well as several high-technology manufacturing divisions and 24 financial services divisions...
...GE observers agree that a large part of the company's success stems from the strength of the leadership beneath Welch. While GE had a strong field of seven managers to choose from in its search for Welch's successor, other businesses such as IBM, Hewlett-Packard and 3M have had to turn outward in their searches...