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Disclaimer
Certain topics in the book had originally caused controversy.
All efforts have been made to ensure that the book underAll efforts have been made to ensure that the book under
review in this presentation is depicted in its original form and
without personal influence of the presenters except for logical examples.
Any error observed in content delivery is unintentional and regretted.
PhD - Chemical EngineeringPhD - Chemical Engineering
Manager of the Century - Fortune
Former Chairman & CEO of GE
One of the three most admired business
leaders in the world - Financial Times
And what did Jack do that made him a “legendary” leader?
Jack Welch knew how to win.
Led the company to year-after-year success
around the globe, in multiple markets
against brutal competition.against brutal competition.
Market capitalization rose from
$13 billion to $400 billion making it the most
valuable and largest company in the world.
Honest, be-the-best style of management
became the gold standard in business.
With his relentless focus on people, teamwork & profits.
Now comes “the” BookNow comes “the” Book
No other management book will ever be needed. Warren E. Buffett
A candid and comprehensive look at how to succeed in business. Bill Gates
Critical Praise for Winning
A candid and comprehensive look at how to succeed in business. Bill Gates
...candid and accessible...insights and wisdom to share. Business Week
The right stuff. The Wall Street Journal
...smart, practical and not afraid to address tough subjects. Newsweek
Now is the time. New York Times
#1 Wall Street Journal and international bestseller
And do you remember what winning means?And do you remember what winning means?
Winning: –noun 1. the act of a person or thing that wins.
2. Usually, winnings. something that is won, especially money.
3. that wins; successful or victorious, as in a contest:
the winning team.
So what does it take to win?So what does it take to win?
Business is about people.
In fact, life is only about people.
At the end of the day, it is only
people that matter.people that matter.
People in companies
must find a way to win.
Winning is brutally hard but achievable.
This book offers no easy formulas.
There are none.
It, however, gives you guidelines to follow,
rules to consider, assumptions to adopt
and mistakes to avoid.
WINNINGWINNING
Lets begin the journey…
Welch has divided the book into four parts:
Company Attitude
The Company & its PeopleThe Company & its People
Managing Organizations & Competition
Your Career
Winning
What’s Ahead
So much hot air about something so real
An effective mission statement basically answers one question:
How do we intend to win this business?How do we intend to win this business?
Mission & ValuesMission & Values
Requires companies to make choices about people, investment people, investment & resources.resources.
Prevents them from falling into the common mission trap
of asserting they will be all things to all people at all times.
Mission statements balance the possible and the impossible.
Define Strengths & Weaknesses
Mission & ValuesMission & Values
Sense of Direction
Inspiration
ProfitabilityProfitability
Mission Statement
Top
Management
Mission & ValuesMission & Values
According to Welch, it is the defining moment for a company’s leadership.
Values are marching orders.
They are how the mission, the means to the endthe means to the end - winning.
Mission & ValuesMission & Values
Creating values should be iterative. Involve everybody.
Make them tangible, identifiable, real, clear.tangible, identifiable, real, clear.
Mission
StatementValuesWinning Proposition
Mission & ValuesMission & Values
Mission and values rupture due to the little crises of daily life in business
So no more hot air. Aim for real action.
Remember the tragic demise of Arthur Andersen and Enron?
The biggest dirty little secret in business
can·dor/kandər: - Noun, the quality of being open and honest in expression; frankness.
CandorCandor
can·dor/kandər: - Noun, the quality of being open and honest in expression; frankness.
CandorCandor
Candor is hard to implement
and is time consuming.
To get candor, you reward it, praise it
CandorCandor
To get candor, you reward it, praise it
and talk about it.
Most of all, you yourself demonstrate it
in an exuberant and even exaggerated way.
The Candor Effect
Ideas Pick
Cuts Cost!
CandorCandor
People Talk!
Get Idea Rich!
Ideas Pick
Pace!
Candor works because candor unclutters.
Cruel & Darwinian? Try fair and effective
D I F F E R E N T I A T I O ND I F F E R E N T I A T I O ND I F F E R E N T I A T I O ND I F F E R E N T I A T I O ND I F F E R E N T I A T I O ND I F F E R E N T I A T I O ND I F F E R E N T I A T I O ND I F F E R E N T I A T I O N
A company has only so much money & time.
Winning leaders invest where the
DifferentiationDifferentiation
Winning leaders invest where the
payback is the highest.
They cut their losses everywhere else.
Differentiation is a way to manage people
and businesses.
Welch suggests that differentiation should
DifferentiationDifferentiation
Welch suggests that differentiation should
be linked to a candid performance appraisal
system and has advised to assess employees,
separating them into three categories.
Top 20%
Star performers
- rewarded and nurtured.
Middle 70%
Future stars, core workers
- train and cultivate them.
DifferentiationDifferentiation
- train and cultivate them.
Bottom 10%
They have to go. Period.
So differentiate if you want the best people in your team.
Its transparent, fair and speeds up the whole process.