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“Idk why people think Jack Welsh had good management practices...” Prior to Mr. Immelt GE was headed by Jack Welch. During his tenure at the top of GE the com
by ryanwaggoner 9y ago
“Idk why people think Jack Welsh had good management practices...”
Prior to Mr. Immelt GE was headed by Jack Welch. During his tenure at the top of GE the company created more wealth for its investors than any company ever in the recorded history of U.S. publicly traded companies. GE’s value increased 40-fold (4000%) from 1981 to 2001. He expanded GE into new businesses, often far removed from its industrial manufacturing roots, as market shifts created new opportunities for growing revenues and profits. From what was mostly a diversified manufacturing company Mr. Welch led GE into real estate as those assets increased in value, then media as advertising revenues skyrocketed and finally financial services as deregulation opened the market for the greatest returns in banking history.
Jack Welch was the Steve Jobs of his era. Because he had the foresight to push GE into new markets, create new products and grow the company. Growth that was so substantial it kept GE constantly in the news, and investors thrilled.
That’s why.
Source: https://www.forbes.com/sites/adamhartung/2015/04/15/ge-a-total-leadership-failure/#7a43845b5699 https://www.forbes.com/sites/adamhartung/2015/04/15/ge-a-tot...
- adamnemecek 9y agoMeh.
- walshemj 9y agoWasn't he disgraced for having a gold plated shower on his company jet?
- ryanwaggoner 9y agoNo idea. Also, you may be using “disgraced” a little liberally here. Pretty sure Welsh is still held in extremely high regard in the business world.
- walshemj 9y agoDepends if you get caught the press and politicians can be brutal especially if the economy needs a whipping boy. See the presidents club furore in the UK some "well respected" business men are no longer held in such high regard.
- ryanwaggoner 9y agoYes, but he clearly is held in high regard. So there may have been some dust up about that years ago, but no one really remembers or cares. I can’t even find any reference to it, so you may be thinking of someone else.
- justin66 9y ago> During his tenure at the top of GE the company created more wealth for its investors than any company ever in the recorded history of U.S. publicly traded companies. GE’s value increased 40-fold (4000%) from 1981 to 2001. Management went from not being rewarded with significant stock options to owning a third of the company during that period, so "created wealth for investors" is a slippery term. > From what was mostly a diversified manufacturing company Mr. Welch led GE into real estate as those assets increased in value, then media as advertising revenues skyrocketed and finally financial services as deregulation opened the market for the greatest returns in banking history. And we all know how well that ended.
- Nomentatus 9y agoGE was gifted by one of its employees with one of the greatest trade secrets of the century, making many devices such as air-conditioners far more efficient (combining AC and DC on the same chip or something close to that.) Had GE patented it initially and licensed the tech widely, immense amounts of greenhouse gases wouldn't have entered our atmosphere, that did. Jack went for exclusivity and the immense profits from that instead, until others got close to the idea, then G.E. patented it. Terrific for shareholders, but an immense tragedy for the earth.