Considered one of the greatest CEOs of all time, Jack Welch passed away on March 1st, 2020. Jack was the CEO of General Electric (GE) from 1981-2001. He is known for changing the way leaders lead. His style was to hire the best people, let the people do the work, and get out of their way.
During his tenure as CEO of GE, the value of the company grew from $14 billion to $400 billion in just 20 years. In 1999, Fortune Magazine named him “Manager of the Century”.
While he did have his adversaries and not every deal he made was a winner, in the end, Jack Welch is most noted for his management style that turned GE into one of the largest companies in the world while under his guidance.
In his “8 Rules of Leadership”, Jack’s Rule #1 says, “Leaders relentlessly upgrade their team, using every encounter as an opportunity to evaluate, coach, and build self-confidence”.
The lessons taught and used in a mega-company like GE can and should relate to all businesses of all sizes.
If you would like to see the complete list of Jack Welch’s “8 Rules of Leadership” as published in Inc. Magazine’s November 13th, 2017 issue, click here.