Thursday, May 21, 2015

Book Review: Winning

Author: Jack Welch & Suzy Welch
Title of the Book: "Winning" 
Year of Publication: 2009   
Place of Publication: New York   
Publisher: HarperCollins Publishers    
Number of Pages: 384   
Price: USD 29.99
ISBN: 9780060753948

Everybody wants to win! That's the gist of this book. But how to do that? Jack Welch, a celebrated CEO offers his insights.

This is nothing but a book on strategy, as strategies are geared towards "winning." Various insights were tackled such as setting the company's mission, using candor in business, differentiating a company, becoming a leader, managing people as well as crisis. 

Two aspects captured my attention which are; 

  • The 20-70-10 rule in which employees are classified as top 20%, middle 70% and bottom 10% performers. This is Mr. Welch's way of encouraging employees do their best and thereby create value for the company.   
  • General Electric's mission for becoming the number 1 or number 2 in every market.

Mr. Welch provided his 8 rules for what leaders should do. He mentioned about the acid test for getting the right people on the field. With the right people on the field, the leader must be able to manage them well as people with voice and dignity.

He also emphasized that change initiative should only be carried out with a clear purpose in mind.

He enjoined leaders that in order to prevent crisis, a culture of honesty,  transparency, fairness and strict adherence to rules and regulations be put in place.

Particular importance was directed to strategy as Mr. Welch allude to it as "It's all in the sauce." He provided 5 points to make strategy real.

He delved on six sigma for use in improving operational efficiency as well as the imperative of work-life balance in the context of performance efficiency.

On the whole, the book is a good read for victors to be a la Jack Welch! 

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