Jack Welch, the great corporate giant who turned GE into a huge success, had a way of simplifying matters —he said that all things that are important in a business are the same: people, quality, service and cash flow. He mentioned a number of his strategies and insights for managerial and organizational success in his books and lectures. The following eight (the management octagon if you like) are some favorites…
People: One can have great strategies but without the right leadership and team it is all an exercise in futility. The job of the leader according to Jack Welch is 75% about people and 25% about other things.
Integrity: Forget the ends justify the means argument. There is only one way – the right way and that’s that. For any professional organization and manager, this is the only route to long-term success.
Differentiation: How are we different? Where is the innovation? What is the value-add? What is special about our offering? How can our people be smarter and more creative than the competition? These questions need to be on the management agenda at all times.
Informal Culture: Jack Welch believed this was necessary not just for employee satisfaction but as a weapon of competitive advantage. He said it was more than just the easy stuff of using first names and casual dress – it was cutting out red tape, and ensuring everyone felt included and significant.
Speed: Jack Welch would often regret not that he acted but that he did not act quickly enough. Caution is good but it should not get in the way of organizational momentum.
Long Term and Short Term: All managers need to be concerned with BOTH long-term and short term objectives. Long term happens because short term succeeds.
Change: No organization can afford to stay within its comfort zone for too long. When success comes, it becomes even more necessary to move away from status quo even if that causes temporary discomfort.
Listening: One of the key drivers of team morale, greater ownership and organizational learning, listening more to customers, employees and partners is an essential requirement for leadership.
From: Management Development
