Word: welches
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...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...
...Tichy attributes GE's success in developing leaders to Welch's priorities...
...Apart from its annual $500 million investment on training and education programs worldwide, GE's strong reservoir of talent is largely due to Welch's focus on his employees...
...Nightly News anchor Tom Brokaw says it is this attention to detail and to people that is the secret to Welch's success...
...Part of the premium Welch places on people can be seen in his development of Crotonville, where he is a familiar figure. The 52-acre New York GE campus is the first major corporate business school in the world where everyone from newly-hired college graduates to division heads gather to learn from each other and, frequently, the big man himself...