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Jack: Straight from the Gut (Paperback)
by Jack Welch
| Category:
Leadership, Management, Execution |
| Market price: ¥ 178.00
MSL price:
¥ 168.00
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| MSL Pointer Review:
We can't discuss leadership without mentioning Jack Welch, and to understand this incredible manager, you have to read this book and its follow-up Winning. |
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Author: Jack Welch
Publisher: Warner Business Books; Reprint edition
Pub. in: October, 2003
ISBN: 0446690686
Pages: 496
Measurements: 9 x 6 x 1.3 inches
Origin of product: USA
Order code: BA00728
Other information: ISBN-13: 978-0446690683
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- Awards & Credential -
The #1 New York Times and Wall Street Journal Bestseller, Amazon.com's Best of 2001 and an essential reading for executives, entrepreneurs, and government leaders. |
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- MSL Picks -
Jack Welch is a lightening rod for criticism and praise. For some he can do no good and for others he can do no wrong. Of course, he is just human being. Yes, he has done some extraordinary things and found a perfect environment to exploit his great strengths. However, the myths that have grown up around him, I believe, have done him more harm than good.
Leaders have to embody a vision that others can follow. This requires their strengths to be exaggerated and their weaknesses to be airbrushed out. Otherwise the simple complexities and contradictions of being a mere mortal would impair the ability to lead. The very great leaders always include some foibles in their persona in order to appear human without revealing too much of the actual person.
This book, I believe, does reveal more of the real Jack Welch than we as the public could really expect to know. In that way it is very generous. Of course, this isn't Proust, so the personal analysis only goes so far. For all I know, Welch may not be capable of deep introspection. Few people are.
What he does give us here is very important if you are interested in business in any way. Forests have been felled writing about the initiatives undertaken at GE like "Forced Ranking" and "Leadership Training". It is wonderful to read about how and WHY those concepts were developed and in what cultural context they are used. It is easy to use a term like "Forced Ranking", use it destructively and then blame the concept.
Here Mr. Welch tells us how "Forced Ranking" is used in a culture of continuous and bluntly honest appraisals along with opportunities for improvement and growth. He also explains why he thinks moving people out of an organization sooner rather than later is better for their career. I happen to agree with him on this, but it is up to the reader to decide. What is useful is to the context in which the term was developed and used.
I also found it very interesting that the company has realized the gaming that can be done with the "#1 or #2 - Fix, Sell, or Close" strategy and found a way to revitalize itself by defining its businesses as only having a 10 to 15 percent market share. This ability to find ways to get the company to see itself anew is one of the great strengths Mr. Welch brought to his job as CEO. It challenged the company to strive and compete instead of basking in the glow of its long success. Yes, change can be uncomfortable. We have all had times where we would rather have continued along the path we were on rather than wrenching ourselves in new directions. But Mr. Welch is simply telling an important truth about life, not just about GE.
The book is an easy and fast read, but offers a lot of food for thought. There are many humorous and self-deprecating anecdotes. But Mr. Welch's fierce competitive spirit shines through. For example, on page 207 Mr. Welch writes, "They knew I didn't hold any hard feelings if my ideas got tossed in the basket." The editor writes in a note: "The hell you didn't!" But doesn't it say something about Mr. Welch's sense of humor that the note made it into publication?
Whether you end up agreeing with him or not, there is a lot to take away from this book and a great many issues to think over. The book is deceptively simple. There is a lot of depth to what is so easily described in its pages. I recommend it highly.
(From quoting Craig Matteson, USA)
Target readers:
Executives, managers, entrepreneurs, government leaders, management consultants, academics, professionals, and MBAs.
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Jack Welch began his career with the General Electric Company in 1960, and in 1981 became the company's eighth Chairman and CEO. During his tenure, GE's market capitalization increased by $400 billion, making it the world's most valuable corporation. In 1999, Fortune named him the "manager of the century," and the Financial Times recently named him one of the three most admired business leaders in the world today. Upon retiring from GE in 2001, Mr. Welch published his internationally best-selling autobiography Jack: Straight from the Gut. He now teaches at MIT's Sloan School of Management and speaks to business leaders and students around the world.
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From Publisher
Nearly 20 years ago, former General Electric CEO Reg Jones walked into Jack Welchs office and wrapped him in a bear hug. Congratulations, Mr. Chairman, said Reg. It was a defining moment for North American business. So begins the story of a self-made man and a self-described rebel who thrived in one of the most volatile and economically robust eras in U.S. history, while managing to maintain a unique leadership style. In what is the most anticipated book on business management for our time, Jack Welch surveys the landscape of his career running one of the worlds largest and most successful corporations. Known as North Americas #1 manager, Jack Welch is likely the worlds most studied CEO. Books written about him, like Get Better or Get Beaten!: 31 Leadership Secrets from GEs Jack Welch (McGraw Hill, 1999), The GE Fieldbook: Jack Welchs Plan for Corporate Revolution (McGraw Hill, 1999), and Business the Jack Welch Way (AMACOM, 1999), are big sellers. Jack, however, will be the first book to reveal this legendary CEOs strategies in his own words.
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| View all 11 comments |
Warren Buffett (Chairman, Berkshire Hathaway) (MSL quote), USA
<2007-02-13 00:00>
All CEOs want to emulate him... they'll come closer if they listen carefully to what he has to say. |
Michael D. Eisne (Chairman and CEO, The Walt Disney Company) (MSL quote), USA
<2007-02-13 00:00>
Jack... took an industrial giant and turned it into an industrial colossus with a heart and a soul and a brain.
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Publishers Weekly (MSL quote), USA
<2007-02-13 00:00>
It doesn't matter whether you love or hate Jack Welch. Who can resist hearing the man tell his story? This abridged version of his recently published autobiography, featuring Welch himself, is quite entertaining. With his slightly raspy Boston accent, Welch discusses his childhood and his career. When he proclaims something, he gives examples to illustrate his point. For instance, he says his mother was the strongest influence on his life. He then recalls the time he threw a hockey stick across the ice in disgust after losing a game, and his mother stormed into the locker room as some teammates were changing to exclaim loudly, "If you don't know how to lose, you'll never know how to win." When discussing his long career at GE, Welch is equally detailed. While some listeners unfamiliar with the corporation may find some of the discussions tedious, most will be captivated by what appears to be Welch's brutal honesty. He talks about having to lobby for promotions because he didn't "fit the GE mold," and he's open about making some poor business decisions. He's not as forthright as it appears, though. He talks about his beloved wife, Carolyn, who provided a stable home while Welch was rising in GE's ranks, but barely mentions their divorce. Still, this audiobook will be interesting listening for anyone who has followed Neutron Jack's career. |
Bryan Carey (MSL quote), USA
<2007-02-13 00:00>
Jack Welch gives many important tips throughout the book, on what works and what doesn't, when it comes to managing employees. Much of what he says seems very simple and glaringly obvious, but it's surprising how few companies actually follow the same philosophy. For example, Welch points out that high- performing workers should be recognized and rewarded for their great performance on the job, through either promotions, stock options, pay bonuses, or a combination of incentives. As obvious as this idea sounds, there are many companies who practice the opposite philosophy. I once worked at a company where it was common practice to give rewards to the worst employees. The rationale behind this is that a poor performer might get the boast in morale that he/she has been looking for, and improve performance, when a reward is given to him/her. This, of course, is counter- productive and it encourages weakness, but the management at my company couldn't see this. Like Welch would point out, this is going to hurt the long- term success of the company because the best employees will look elsewhere for more rewarding work, while the weakest employees will remain, still performing as poorly as before.
Welch does show humility in the book, which is good. He admits that he was starting to get a little full of himself at one time, but the Kidder- Peabody deal and the failed attempt to acquire Honeywell brought him to his senses. In other parts of the book, he even criticizes himself for some of his decisions and points out that it was really the great workers at GE whom he owes much of his success.
With such a large company to deal with, Welch knew that his every move would always be subjected to harsh scrutiny by the media. On some occasions, he admits that he was personally hurt by the critics, like when the media started to refer to him as "Neutron Jack", a reference to the fact that many GE jobs had been trimmed during Welch's reign, but the buildings were still standing. Welch knew that this type of criticism came with the job, and he was able to stand up, lick his wounds, and move on with his leadership of the company.
There isn't quite as much personal information in this book as you might hope. Welch spends less than 20 pages talking about his years as a youth and his days in college. He also makes just a brief mention of his four children, and his marriage to his second wife, Jane. Even though the book is considered to be an autobiography, most all of it details the day-to-day life at GE, with the bulk of the book dedicated to Welch's career as CEO.
I did find out some things about Welch that I didn't know before reading this book. For instance, I didn't know that Welch began his career at GE as a Chemical Engineer and I didn't know that he earned a PhD. Not many CEO's begin their climb up the corporate ladder as a Chemical Engineer, and very few have a PhD. I also had forgotten about GE's ownership of NBC and RCA, and I didn't realize that Jack Welch was one of the people who had to negotiate the huge salaries for some of NBC's actors and television show hosts.
Jack Welch has come a long way from his beginnings in Salem, Massachusetts, to the helm as the leader of one of the world's largest corporations. It's been an interesting ride for Welch, who himself has described the job of CEO as "wild... fun... outrageous... crazy... passionate... etc.". He doesn't seem to have any regrets about the company or his overall handling of its business affairs. He admits that some mistakes were made, but he seems content overall.
On a personal level, Welch states that the only regret is that his own parents did not live to witness his success. He often alludes to what it would have been like for his proud parents to see their son meeting with the U.S. president and other important heads of state from around the world. His mother died in 1965, and his father in 1966, so they never had the pride of witnessing their son's great achievements.
Jack Welch is now retired, but he will be remembered and consulted for advice for many years to come. He left behind a very strong legacy of success with GE. His twenty years as CEO were not without a few disappointments, but they were some of the happiest and most successful of his life, both personally and professionally. His successor, Jeff Immelt, has his hands full, standing in the shadow of one of America's most popular and successful corporate leaders: John F. "Jack" Welch Jr. |
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