Jack Staight from the Gut

As CEO of General Electric for the past twenty years, Jack built its market cap by over $500 billion and established himself as the most admired business leader in the world. His championing of initiatives like Six Sigma quality, globalization, and e-business helped to define the modern corporation. At the same time, he's a gutsy boss who developed a differentiated philosophy and management style that observes no boundaries, sharing of ideas, an intense focus on people, and an informal, give-and-take style clearly alienates bureaucracy. The content of the book is easily described as the chronological journey through Jack Welch's life starting with a short discussion of his upbringing and education. After his PhD, he started with General Electric and rose through the ranks until being named CEO in 1981. After his appointment as CEO, the book starts to glow: the book bares all on how Jack Welch restructured GE around the concept of being number 1 or 2 in each market, how he proactively eliminated tens of thousands of jobs to make GE more competitive, how he focused on leadership development and learning, how he acquired and sold businesses.

Key business lessons from Jack Welch’s way of doing business:

☼  Integrity - Jack did not have two agendas.  He only had only one way – the straightway. Setting a Tone - Jack always told our business leaders their personal intensity determined their organization’s intensity. 

☼  Maximizing an Organization’s Intellect - Jack took everyone’s best ideas and transferred them to others.  

☼  People First, Strategy second - Jack hired the right people in the right jobs. This was more important than developing a strategy. 

☼  Informality - Jack knew bureaucracy strangles.  Informality liberates. 

☼  Self-Confidence - Jack knew there is a fine line between arrogance and self-confidence.  Legitimate self-confidence is a winner.  The true test of self-confidence is the courage to be open – to welcome change and new ideas regardless of their source.  Self-confident people aren’t afraid to have their views challenged.  They relish the intellectual combat that enriches ideas.  They determine the ultimate openness of an organization and its ability to learn. 

☼  Passion - Jack knew the number one characteristic all winners share, winners care more than anyone else.  No detail is too small to sweat or too large to dream. 

☼  Stretch - Jack believed in stretching oneself in order to reach for more than what is thought possible. 

☼  Celebrations - Jack was a proponent of extramural activities. He knew business has to be fun. 

This book is laced with refreshing interludes, such as "A Short Reflection on Golf," that capture Jack's competitiveness and the importance of friendship in his life. JACK: STRAIGHT FROM THE GUT is a classic business book and a deeply personal journey filled with passion and a sheer lust for life. This is a book you must have on your book shelf.