John Francis "Jack" Welch, Jr. (born November 19, 1935(1935-11-19)) was Chairman and CEO of General Electric between 1981 and 2001. Welch gained a solid reputation for uncanny business acumen and unique leadership strategies at GE. During his tenure, GE increased its market capitalization by over US$400 billion. He remains a highly-regarded figure in business circles due to his innovative management strategies and leadership style.
Welch's net worth is estimated at US$720 million.
Perhaps Jack Welch was following the rules of St. Benedict. This calls to mind the Leadership section of GE’s 2000 annual report:
“And it’s about the four “types” that represent the way we evaluate and deal with our existing leaders. Type I: shares our values; makes the numbers—sky’s the limit! Type II: doesn’t share the values; doesn’t make the numbers—gone. Type III: shares the values; misses the numbers—typically, another chance, or two. None of these three are tough calls, but Type IV is the toughest call of all: the manager who doesn’t share the values, but delivers the numbers; the “go-to” manager, the hammer, who delivers the bacon but does it on the backs of people, often “kissing up and kicking down” during the process. This type is the toughest to part with because organizations always want to deliver—it’s in the blood— and to let someone go who gets the job done is yet another unnatural act. But we have to remove these Type IVs because they have the power, by themselves, to destroy the open, informal, trust-based culture we need to win today and tomorrow.
We made our leap forward when we began removing our Type IV managers and making it clear to the entire Company why they were asked to leave—not for the usual “personal reasons” or “to pursue other opportunities,” but for not sharing our values. Until an organization develops the courage to do this, people will never have full confidence that these soft values are truly real. There are undoubtedly a few Type IVs remaining, and they must be found. They must leave the Company, because their behavior weakens the trust that more than 300,000 people have in its leadership.
[http://www.ge.com/annual00/download/images/GEannual00.pdf]
Welch's net worth is estimated at US$720 million.
Perhaps Jack Welch was following the rules of St. Benedict. This calls to mind the Leadership section of GE’s 2000 annual report:
“And it’s about the four “types” that represent the way we evaluate and deal with our existing leaders. Type I: shares our values; makes the numbers—sky’s the limit! Type II: doesn’t share the values; doesn’t make the numbers—gone. Type III: shares the values; misses the numbers—typically, another chance, or two. None of these three are tough calls, but Type IV is the toughest call of all: the manager who doesn’t share the values, but delivers the numbers; the “go-to” manager, the hammer, who delivers the bacon but does it on the backs of people, often “kissing up and kicking down” during the process. This type is the toughest to part with because organizations always want to deliver—it’s in the blood— and to let someone go who gets the job done is yet another unnatural act. But we have to remove these Type IVs because they have the power, by themselves, to destroy the open, informal, trust-based culture we need to win today and tomorrow.
We made our leap forward when we began removing our Type IV managers and making it clear to the entire Company why they were asked to leave—not for the usual “personal reasons” or “to pursue other opportunities,” but for not sharing our values. Until an organization develops the courage to do this, people will never have full confidence that these soft values are truly real. There are undoubtedly a few Type IVs remaining, and they must be found. They must leave the Company, because their behavior weakens the trust that more than 300,000 people have in its leadership.
[http://www.ge.com/annual00/download/images/GEannual00.pdf]
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