...Leadership Talents of Jack Welch Jack Welch was a successful Chief Executive Officer (CEO) of General Electric Co. (GE) for twenty years (1981 – 2001). He was admired and feared for the “new vision” that was implemented at GE. Jacks talented strategies were based on how he saw the hierarchy layers of management, how he analyzed the 42 strategic business units, and how he implemented the culture of GE to have the feel and the passion that he had been striving for. These strategies received a lot of positive and negative attention and as a result the company’s value increased by 4,000% during his tenure at GE. Jack Welch was born John Francis Welch, Jr. on November 19, 1935. He earned a Bachelor of Science degree in chemical engineering from the University of Massachusetts in 1957. Then he went on to earn a M.S. and Ph.D. in chemical engineering from the University of Illinois in 1960. He was introduced to Carolyn Osburn through a mutual friend, and then approximately six months later they were engaged. By November, 1959 they married two days after Welch’s 24th birthday. In 1960, Dr. Dan Fox offered Welch a chemical engineering position to work on a new project on a new thermoplastic called polyphenylene oxide (PPO) at GE. PPO was described to withstand high temperatures, which could replace hot water copper piping and stainless-steel medical instruments. Welch realized after his first year at GE that he disliked GE’s bureaucracy, which nearly drove him to leave...
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...1. You may have seen the terms “e-business” before. Do some research and briefly indicate why you think that this term better defines what GE did rather than “e-commerce” GE’s CEO, Jack Welch, once described their e-business as, “an elixir, a tonic that has changed the DNA of GE forever.” (Bartlett, 2002) During Welch’s final years as CEO, he was faced with the strategic decision of introducing GE onto the internet. GE Plastics had already begun using the internet as a way to conduct business and Welch used this division as a building block for the conversion to a digital workplace. The difference between GE and so many other companies is their competitive culture and their drive to succeed. Therefore, when Welch introduced his fourth strategic initiative, embracing e-business, he expected the best from his employees, set far-reaching goals, and demanded that all of GE’s large divisions begin to develop their own website. Welch’s expectations and the scope of the fourth strategic push is what differentiate GE’s term of “e-business” from “e-commerce.” As Welch began to realize the potential the internet could have on GE’s businesses, he encouraged all the business leaders to get a mentor to help them understand this potential. He also required regular meetings of all business division heads so they can learn from what other managers experienced as well as create ideas to overcome obstacles. Since GE sees failure as unacceptable, Welch wanted to give his full support to the company...
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...Style The founder and CEO of Virgin Group business is the leaders and admired the world. Adventurer who loves the people and has been proposed driving global change to build a better and fairer world. Richard Branson talk to know what kind of leader is and as is his leadership as a visionary and above all a great leader. Also see how the leader was as a person of significant changes to be adored and admired by its employees for their great achievements and charisma he possesses. We could see as identified as a leader and to assess what kind of leader is this person to reach a level that gives samples of how to be a leader and an example for many. We will see here as defined and is a true leader. Is 61 years; He is charismatic, enthusiastic, shy and very polite. It is an iconoclast, his own brand and a traveling show. He did everything to promote your business: disguised dress, pirate, pilot, he cross the Pacific in a big balloon, sailing the Atlantic in a motor boat and spaceship Launcher One. He is adored by his employees, entrepreneurs revered. His group, which has 47,000 employees and a presence in 30 countries, had income of U.S. $ 21 million in 2011. Arguably Branson is a successful leader with 360 degrees. He's done well in almost everything he has undertaken, married for 23 years to the same woman, Joan Templeman-, two children, what you admire and accompanied in many of his adventures, and today is considered an example of a global leader, the last step in the career...
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...Avon Week 01 Written Assignment Christine Bory Rasmussen College Author Note: This assignment is being submitted on January 12, 2014 for Steve Rudolph’s MAN4720 course at Rasmussen College by Christine Bory. Avon In this case, the new CEO Jung did a situation analysis to determine the strengths and weakness of the company and what could be done to improve sales. In the analysis it was determined they were weak in research and development of new products compared to their competitors. Also, that their target market was women 35 and older, when there was potential to earn more revenues if they increased the target market to a younger age group as well. A strategy formulation was formed on how they could improve and implemented. The company invested in a new state-of-the-art product research facility. This assisted in being more competitive in their business. They also redesign their sales brochures to be more visually appealing and increase distribution. They also developed a new line of cosmetics to appeal to women ages 16 to 24. Even though a plan was put in place and implemented to improve sales, once an analysis was done it, revenues were not as well as expected. So another plan was put in action which involved downsizing, doubling advertising spending and focusing on R&D resources. Strategic management is about adapting which in this case despite a good plan that was implemented it was still necessary to continue with strategic management by restructuring...
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...domestic passengers carried and is a mainstay on Fortune magazine's list of the most admired companies in the world, ranking seventh in 2013 (About Southwest, 2014). Gary's biggest source of pride is the fact that Southwest Airlines has never had a single furlough in the airline's 43-year history. Gary is pioneering the airline's transformation through several key initiatives, including the integration of AirTran Airways and launching international destinations in 2014 for the first time in Southwest's history. Gary has been named one of the best CEOs in America by Institutional Investor magazine three times and he was selected as Dallas Business Journal's CEO of the year for 2011. Gary is a lifelong Texan and received a B.B.A. in Accounting from the University of Texas at Austin. As a proud alumnus, Gary has served the University in a number of capacities, including on the McCombs School Advisory Council. Gary is a Certified Public Accountant; serves on the Board of Directors of the Lincoln National Corporation and is Chairman of Airlines for America (Southwest, Gary C. Kelly, 2014). Southwest Airlines would not be the company it is without having a superb leader. It takes a good leader to understand the current economy, market, and internal business to make a company be profitable. As his company’s CEO, Gary Kelly has a unique leadership style which is perhaps not found in most of America’s CEOs or at least among those who are in the airline industry. He’s very charismatic and...
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...such as revenues, sales volume, market share, and stock prices.” Retrieved from https://new.edu/resources/organizational-culture--9. Three firms in which HR management has focused on organizational culture and has contributed positive effects amongst their employees are Google, Scripps Network and UPS. Although three very different companies, each one has been recognized as one of the Most Admired Companies by Fortune magazine. Since its start-up, Google has had a reputation of being a people oriented company. Their HR strategy is its emphasis on organizational culture and business objectives. By tying the two together, Google has strived and maintained its open culture attitude which has lead to the company’s success. “We strive to maintain the open culture often associated with startups, in which everyone is a hands-on contributor and feels comfortable sharing ideas and opinions”. Retrieved from https://www.google.com/about/company/facts/culture/. Unlike many other companies, Google promotes interaction amongst their employees not only with their peers, but also with the CEO and other executives about company issues...
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...I’ve noticed and admired with business owners, of both large and small sized entities, is versatility. The ability to swiftly move from one industry to the next, without any formal education in the subject matter. I’ve seen this firsthand with business owners in my own family, and most recently with Lyndon Rive of SolarCity whom we met last week (jumped from Health care -> Computer Software -> Energy), and now Jeff Church of NIKA Water. Entrepreneurs are successful in vastly diverse fields over their career because they clearly separate the notion of being a “businessman” vs. a subject matter expert. A CEO of a corporation does not necessarily need to know the technical details of how to manufacture a certain product, or how to write the software code for their tech startup, but rather needs to have the following: Coherent understanding of the problem the corporation is aiming to solve and how the company’s product/service addresses this problem Big-picture view of the closest competitors, their business model, and what works/what doesn’t Intellectual capability to learn the industry quickly and on the job A top-notch team, both managerial and technical From this, a CEO can formulate a business model and work with senior management and the technical team on execution. I strongly believe that an executive can, and does, learn “on the job”, and I argue that a PhD in XXX does not better equip them as a business leader in that industry. Successful CEOs clearly realize...
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...Steve Pierre 7/7/11 Case 1 1) I would consider Jim Sinegal to be a very effective CEO of Costco. I would give him a B plus for crafting and executing Costco’s strategy. In order to execute an implement a company’s Strategy in requires a lot of direct contact with managers and employees in the entire organization. Sinegal travels to different locations and is very hands on with the majority of his stores; this will lead to everyone in the organization being on the same page and help to understand the company’s vision and goals both short-term and long-term. Although I do feel Sinegal is a great CEO, I think it would be best for him to take into consideration the advice form store managers and employees into to consideration even more effective. 2) Over the past five years Costco has continued to grow financially and has continued to be one of the leaders in its industry. Since to 2006 Costco has increased its net sales as a whole. Although Costco were able to increase their sales for the most part their profit margin remain between 12 and 13 percent. After comparing the company’s balance sheet over the past few years and calculating the ratios of assets and liabilities it shows that Costco has grown to be a more liquid company. Costco on average has mange to turnover its inventory 12 times per year. This is considered to be great for a company as large as Costco. Because of the fast inventory turnover, Costco was able to have a large percentage of...
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...I choose to do my research paper on General Electric. General Electric is a very successful conglomerate company. I looked at how General Electric manages to be so successful in this area. In this class I have learned that to be a successful company there is another area of concern that is structure of management and how it affects the company. When looking at General Electric Company and why this company is successful conglomerate company. I had to find out what a conglomerate really details. In Order to be a successful conglomerate Company the company must spread resources into this many unrelated businesses gives great stability even in the event of a complete collapse of one of the market, but it also makes many of the decisions the upper management must make incredibly complex. According to The Financial Times, General Electric (GE) is today the “World’s Most Respected Company” (“Facts”). Most of this admiration is due to the variety of operating segments that the company provides. For example, GE businesses are classified into ten categories: Commercial Finance, Consumer Finance, Consumer and Industrial, Energy, Equipment Services, Healthcare, Infrastructure, Insurance, NBC, and Transportation (“Company”). The conglomerate design is put into use when an entity has holdings in many unrelated businesses. This form is also known has the H-form because it is basically a holding company that comes about from unrelated diversification. This holding company form of organization...
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...The CEO of General Electric (GE) Jack Welch had said he only had three jobs: selecting the right people, allocating capital resources, and spreading ideas quickly. When talking to hundreds of GE managers Welch used to ask them not only about their ideas but who they have shared their ideas with, and who else has adopted them. He was the head of GE from 1981 till 2001. In 1980, the year before Welch became CEO, GE recorded revenues of roughly $26.8 billion. In 2000, the year before he left, the revenues increased to nearly $130 billion. When he left GE, the company had gone from a market value of $14 billion to one of more than $410 billion at the end of 2004, making it the most valuable and largest company in the world (Storrs, 2006). At the time of his retirement, Welch received a salary of $4 million a year, followed by his controversial retirement plan of $8 million a year, which included GE's $80,000 per month luxury apartment in Trump Tower (New York City), free food and wine, access to a $300,000 per month B737 corporate jet, VIP tickets to the Metropolitan Opera, the Knicks, Wimbledon, the US Open (tennis) and the Red Sox, an office and a secretary in the GE building and a limousine with driver. The impact of leadership on the bottom line is dramatic. A study by Andersen Consulting Institute for Strategic Change asserts that the stock price of companies perceived as being well led grew 900 percent over a 10-year period, compared to just 74 percent growth in companies...
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...CASE: Toyota – America’s Best Car Company – Is it today? Problem: Following the recall of more than 8 million cars over the past few years due to faulty accelerators and the production shutdown resulting from the devastating earthquake on March 11, 2011, Toyota has several obstacles in its way to remain competitive in the realm of American automobile suppliers. How can this company regain the “crown” and move Toyota back to a higher position not only on the Forbes list of America’s most admired companies yet in the motor vehicles industry as well? Management Function Involved: Leading, Controlling, Communication, Decision Making and Organizing. – Leading and Controlling - conincorporate customer feedback into development of emerging products. Develop “accountability systems for human rights and actions that address human rights issues.” Problem Solving Factors (BPSF): Economic, Technological, Socio/Cultural, Political, Legal/Regulatory, Ethical, Intercultural/International, Quality. Management, Marketing, Accounting/Financial Social Environment – continue to incorporate customer feedback into the development and innovation of new products. And “encourage stakeholder feedback as part of materiality process.” Intercultural/International - goals to develop and enhance education in competitive areas of math and science “Implement 13 newly initiated projects for grades K-8 in five additional countries, including Africa, Mali...
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...industrial products, medical equipment, transportation, and power transmission (GE, 2009). These products were all a part of the original company foundation created by Thomas Edison (GE, 2009). GEs structure and success have led to several recognitions in the business industry. In 2009 GE improved its ranking on the Fortune 500 list from sixth to fifth (CNN Money, 2009). GE was also ranked as number one on the 2010 Forbes Most Sustainable Companies and Most Admired Companies (Coster, 2010). The success and recognition is a sign of strong management, leadership skills and commitment. Through the years GE has had a number of leaders who have built a strong company with a combination of diverse products (GE, 2009). The initiatives driven by these leaders have led to growth, reeducation in cost, controllerships that allow the company to capitalize on opportunities, financial strength and common values that allow the company to face environmental changes with confidence (GE, 2009). One of the most influential leaders in the company’s history was Jack Welch. Jack Welch had a one goal. That goal was to build the world’s most competitive enterprise (GE, 2009). In the 1980s corporate America operated by the workers working,...
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...Gone Wrong Enron was once a promising company headed toward greatness but all of this was just for show and thus not long enough; it was discovered that one of the world’s most admired companies was just faking all their records taking down a lot of investors of their company to bankruptcy as well as their employees. The Enron scandal has paved the way not only to America’s consciousness on risks involved on how corporations work, but how stakeholders can be victimized by fraud if corporations are not properly audited and regulated. It also opened consciousness of the whole world as well. In this paper, we will take a look on how proper implementation of business ethics and auditing can help avoid tragedies like Enron. 1. Enron’s rise to Top 2. Fall of Enron 3. Reflection Enron’s rise to Top Kenneth Lay founded Enron in 1985 and after two years, the company becomes involved in a scandal after two traders suspiciously got consistent profits on betting on the oil markets. The auditors found out about their schemes but Lay still encouraged them to “keep making us millions” (1). When Enron’s reserves were found out to be gambled away by the traders, they were fired and this almost brought down the company. Lay, after finding this out, denies any knowledge of wrong doings. Due to this, Lay hires a new CEO Jeffrey Skilling who agreed to join Enron on the condition that the company uses the market to market accounting method which allows Enron to record potential profits immediately...
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...April 9, 2012 Visionary and Enduring Companies Jerry Porras’ video about leadership and vision was thought provoking. The last few years of my college education; I’ve learned that there are many different philosophies, theories and leadership models or styles that you should follow to be a great leader. So I thought that this was another motivational speech that would rally your thoughts and give you the drive or foresight to be the best leader. Instead he made me think and I answered the simple basic questions he posed. When Porras talked about leadership, he asked simple questions, as a leader where do you see yourself or the world in the future, and how does it affect the way you lead? Porras’ co-wrote a book called “Built to Last” which studied the fundamental differences about visionary companies and how they differ from other companies. A visionary company is a company that had or has a significant impact on the world. It is also a company that is widely admired by its peers and that it has a long track record of success. It also has multiple generations of leaders, product growth and a successful industry cycle. An enduring company is defined as a company that is thriving and doing well for at least a period of ten years. Porras talked about companies who in the beginning where small, then grew to medium and continued to grow. These companies had to endure the pain of ups and downs and turbulent times but in the long run they remained...
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...good leaders, bad leaders, effective and ineffective leaders. The textbook describes ten qualities that all leaders possess and the level of those individual qualities determines what kind of a leader a person is. This paper will provide an analysis of Ted Turner, CEO of Turner Broadcasting System and will discuss his leadership style and outline several of his outstanding traits that made him a successful leader. The second part of this paper will provide an analysis of myself and will compare some of my leadership qualities to those of Mr. Turner. Ted Turner Analysis and Leadership Traits Robert Edward...
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