One of the best books either the manager or entrepreneur can read regarding business theory is Jack Welch’s “Winning.” In the book, the former CEO of General Electric discusses his take on business and how he successfully ran one of America’s largest organizations for an astonishing long tenure.
– While there is a decent amount of knowledge worth mentioning throughout the book, here are just a few thoughts that really resonate:
– Try desperately to make products or services distinctive and customers will stick to them.
– One thing that kills clients relationships are being unpredictable.
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– Never let the profit center get in the way of what is right for the client.
– Always look for ways that make doing business easier with your company.
– Communicate daily with your customers.
– Lack of candor blocks smart ideas, fast action, and good people contributing to the solution.
– Make a clear distinction between top and bottom producers – not everybody is treated the same.
– Every company has both strong and weak offerings.
– Top 20% of employees should be showered with gifts – don’t mistake who the stars are of your organization.
– People should know where they stand as employees.
– You can’t always protect under performers; during downturns layoffs are necessary and it could raise resentment among the top performers.
– Differentiation motivates people to give it their all.
Sometimes in management and in business, you must learn from the best and brightest leaders. Welch was one of them and I would highly recommend learning his theories on business because when implemented consistently, good results will eventually come.