...CGlobal Young Leaders Conference (GYLC) - A Walk to Remember “If your actions inspire others to dream more, learn more, do more and become more, you are a leader” John Quincy Adams Like all teenagers our age we are swept up by the leadership wave partly encouraged by our parents, school and by all that we hear and see around us. Thus when the Global Young Leaders Conference was announced we got onto the leadership bandwagon. It all started when myself, Shafra Ameen (12 Cam. Sci) and Hasini Chamika (12 Cam. Sci.) was nominated from school to attend The Globlal Young Leaders Conference. Our applications were accepted by the GYLC and thus began the very exciting 14 days of summer visiting Washington DC and New York. What is GYLC? The GYLC is a unique leadership development conference that takes place in China, Europe and U.S.A in July and August every year. Outstanding high school scholars aged 15-18 from around the world converge to share and collaborate with each other. The theme of GYLC this year was “The Leaders of Tomorrow Preparing for the Global Challenges and Responsibilities of the future” The Reality Just 10 days after our Cambridge A/L final examination the 3 of us were in the flight to Washington. Shafra, Hasini and I opted to choose the session held from the 25th of June to 4th July plus the optional add on which continues till the 7th of July. Likewise there are 6 similar sessions throughout July and August so that the applicants are given a choice to choose...
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...financial position and the culture of General Electric (GE) in the early 80’s when Jack assumed the mantle as its Chairman and CEO. Thirdly, I discussed his changing leadership styles over the years. Finally, I give my opinions on how I would have lead differently if I was faced with the same situations. Table of Contents 1. Introduction 5 2. Welch’s Background 5 3. The situation – GE before Jack Welch 7 4. Jack Welch the leader 7 5. Discussion – How I would lead differently 10 6. Conclusion 11 Reference List 12 1. Introduction Leadership is a complex concept and there are different ways of becoming a leader. Leadership is the process of influencing an organized group toward achieving its goals. (Hughes, Ginnett and Curphy, 2012). Leadership is about influencing and not dominating others, leadership occurs when other people happily accept the goals of as organization as their own (Hogan, 1994). Because the behavioural patterns of employees vary depending on their individual circumstances, it is important that leaders to develop an empathetic approach towards resolving the issues of employees. Leadership theorists associate this ability with emotional intelligence. According to (Hughes, Ginnett and Curphy, 2012) emotional intelligence is a group of mental abilities that help people to recognize their own feelings and those of others. Leadership might be viewed in terms of the role of the leaders and their ability to achieve effective performance from...
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...GE Oil and Gas General Electric is a diversified industrial corporation. The company maintains a huge variety of products and services such as aircraft engines, oil and gas production equipment, power generation, household appliances, medical imaging, business and consumer financing and industrial products. The company primarily operates in North America, Europe, Asia, South America, Australia and Africa. GE headquarters is located in Fairfield, Connecticut and employs approximately 307,000 people (General Electronic SWOT Analysis, 2014). GE’s oil and gas business has been the focal point of the company for the last few years; at least since 2011. The company has put together a $17 billion division to take advantage of global demand for new energy resources. GE has built up its oil and gas business by doing more than $14 billion worth of acquisitions since 2007 and putting one of its most promising young executives, Lorenzo Simonelli, in charge of the unit. According to Simonelli, the current plunge in oil prices is giving GE cause to question if they should switch focus onto one of its other businesses. The oil’s plunge to approximately $60 a barrel from $100 a barrel has thrown the company’s economic assumptions into question. (www.wsj.com). Oil & Gas is GE’s fastest growing business. It competes in high-growth markets and creates products like the recently launched first subsea compressor that utilizes GE’s broad technical capabilities. Measurement and Control, a division...
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...responsible for strategy formulation. It stressed on mental state and processes such as instinctive knowledge, belief, wisdom, experience and insight of a single leader. The leader should be visionary in formulating strategy. The entrepreneurial school promotes strategy as a process which has a clear image and sense of direction which can be termed as a vision. Entrepreneurial strategy often occurs in startup companies and organizations in trouble and needing a turnaround. For any organization to sustain success it must engage in some form of entrepreneurial activity in order to effectively compete in the marketplace and continue to increase stakeholder value. In this school the organization becomes responsive to only one person, the CEO and vision is the central concept of this school. Vision is the mental representation of a leader and it outlines what the organization wants to be or how it wants the world in which it operates to be. It is a long term view and concentrates on the future. It can be emotive and source of inspiration. It serves as a guiding idea and often tends to be a kind of image than a fully clear plan. Visions are often flexible so that the leaders can change them as they like. Visionary Leadership The visionary leadership is the main essence of the entrepreneurial school of thought. Visionary leaders are the builders of a new dawn, working with imagination, insight, and boldness. They present a challenge that calls forth the best in people and brings them together...
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...The Immelt Revolution Who is Jeff Immelt? • Joined GE Plastic in 1982 (MBA from Harvard University) • Various global leadership positions over year career in GE - GE Electronics, GE Medicals, International Marketing • Elected as CEO to begin tenure in September 2001 • Different personality from J. Welch - Easygoing, friendly, natural charisma (lead by example) cf. Jack Welch :Brash, Impetuous, abrasive, feisty (dictatorship) Jeff, breakthrough in the CEO Factory? CEO Process Implementation Long Term Planning CEO Candidacy Programme for an emergency, 1994 CEO Candidates 24 survived Management Development and Compensation Committee Appraisal on Personality and ability(1-2 yrs) 8 Board members collective interviews Management Ability Test (3-4 yrs) Job rotation in divisions - One of final three candidates - designate backup Decision Merit (TO/Profits) check and CEO interview - young, expansive thinking Time consumed 6 years 5 months 1. Tracing Young Turks - Scanning high - potential cases 2. Global Mgt Capability - Leadership, Strategy - Human Resource 3. Crisis Capability - Adversity - Venture, New Area 4. CEO Candidate - CEO School - Competency 5. CEO Cultivation Team - Professional Support - Mentor by J. Welch Immelt’s Narratives • Repositioning the portfolio and diversification – From a process oriented company to creativity and fundamentals – Emphasizes organic growth rather than deals...
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...differentiator) Have confidence (Understand that you can make a difference) Be an optimist (cynicism is corrosive)" I was impressed that GE never backed off training, even in tough times. I believe tough times is a good time to invest in training. Partly because change is required and training helps foster positive change and partly because usually there is some surplus capacity so staff have the time. I resonate with Immelt "I'm a learner, and most good leaders that I like are the same way". GE's core values according to Immelt are: Integrity Performance Change These look simple. I would have added more definition. EG change for the sake of change is not good. It is "appropriate change" that needs to be sought. Immelt says "constant reinvention is a central necessity". I liked what Immelt teaches young leaders: 1 - take personal responsibility 2 - Simplify constantly 3 - Understand depth, breadth and context 4 - Focus on alignment and Time Management. (and no I did not make that one up) 5 - Learn constantly and learn how to teach. (and I would add learn how to learn faster and better) 6 - Stay true to your own personal style. 7 - Mange by setting boundaries, but allow freedom in the middle. 8 - be disciplined and detailed. 9 - Leave a few things unsaid 10 - Put people first (interesting since this has not been a GE trait - I agree - see my review of Primal...
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...the massive political uncertainty (Garten, 2008). Hambrick and Mason (1984) have also stated that because leaders of corporations are empowered to make a decision, they have an important impact on team characters and outcomes. The importance of leadership is definitely obvious. However, different approaches to leadership can lead to totally converse results. Authoritarian and laissez faire are two typical styles. The former means individuals control over all decisions with little input from group members, it is dominant and self-reliant. Conversely, the latter depends on teamwork, and be more democratic. This essay will firstly compare these two approaches to leadership in successful multinational companies in various aspects and then illustrate the benefits and drawbacks of each one respectively. Finally, it will analyse and evaluate the appropriate applications in terms of creating sustainable success, which includes steady period management and crisis management. What should to be emphasized is that it is unfair to define one leader as an exact example of an authoritarian leader or a laissez faire leader, thus, in this essay, I only classify leaders by the some characters they showed. The differences of these two modes are primarily demonstrated in three aspects. First of all, the personal characters showed during the work are definitely distinct. Authoritarian leaders are always confident and decisive, and they have powerful mentality, which leads to making decisions with...
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...AM FL Y TE Team-Fly® 29 Leadership Secrets from Jack Welch Abridged from Get Better or Get Beaten, SECOND EDITION Robert Slater McGraw-Hill New York Chicago San Francisco Lisbon London Madrid Mexico City Milan New Delhi San Juan Seoul Singapore Sydney Toronto Copyright © 2003 by The McGraw-Hill Companies, Inc. All rights reserved. Manufactured in the United States of America. Except as permitted under the United States Copyright Act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written permission of the publisher. 0-07-141684-6 The material in this eBook also appears in the print version of this title: 0-07-140937-8 All trademarks are trademarks of their respective owners. Rather than put a trademark symbol after every occurrence of a trademarked name, we use names in an editorial fashion only, and to the benefit of the trademark owner, with no intention of infringement of the trademark. Where such designations appear in this book, they have been printed with initial caps. McGraw-Hill eBooks are available at special quantity discounts to use as premiums and sales promotions, or for use in corporate training programs. For more information, please contact George Hoare, Special Sales, at george_hoare@mcgraw-hill.com or (212) 904-4069. TERMS OF USE This is a copyrighted work and The McGraw-Hill Companies, Inc. (“McGraw-Hill”) and its licensors reserve all rights...
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...|HOW JACK WELCH RUNS GE | |A Close-up Look at How America's #1 Manager Runs GE | |Whisked by chopper from New York City, Jack Welch arrives early at the (GE) training center at Croton-on-Hudson. He scoots down to The | |Pit--the well of a bright, multitiered lecture hall--peels off his blue suit jacket, and drapes it over one of the swivel seats. | | | |This is face-to-face with Jack, not so much as the celebrated chairman and chief executive of GE, the company he has made the most valuable| |in the world, but rather as Professor Welch, coach and teacher to 71 high-potential managers attending a three-week development course. | | | |The class sits transfixed as Welch's laser-blue eyes scan the auditorium. He hardly appears professorial. With his squat, muscular, | |five-foot, eight-inch frame, pasty complexion, and Boston accent, the 62-year-old balding man looks and sounds more like the guy behind the| |wheel of a bus on Beacon Hill. And he isn't there to deliver a monologue...
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...1. BMW differentiates with Mini BMW Group is a leading global provider of premium products and services for individual mobility. Revenues are generated through three business divisions: automobiles, financial services and motorcycles. BMW focuses on the premium segments of the global passenger car and motorcycle market. The automobiles division develops, manufactures, assembles and sells passenger cars and off-road vehicles under the brands BMW, Mini and Rolls-Royce. BMW acquired the Mini brand in 2001. Since this acquisition sales grew from 25,000 units in 2001 to over 232,000 units in 2008. The Mini, which is sold in more than 70 countries, is even a hit in countries that have strong local auto industries. The top five markets are Britain, with around 45,000 cars sold in 2008; the United States with 41,000; Germany 29,000; Italy 22 000; and Japan 13, 000. BMW has consistently positioned its Mini line as more than just a car. Instead it is marketed as a lifestyle brand, with a range of driver accessories and other miscellaneous branded items such as key fobs and clothing lines giving the brand more meaning to customers than being simply a car. In addition, in Mini has its own online social network, or "urban initiative", called Mini Space. A host of other marketing initiatives, both on and offline, are all designed to play on the car's perky appeal. Mini buyers have a broad and in-depth choice for their car's specification, with 372 interior configurations, including...
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...Challenge of embedding Sustainability in Organizations: The role of HRM and Leadership INTRODUCTION In the last decade, the importance of sustainability in any part of business in any industry has increased. Sustainability needs to move from being an add-on to a way of life at the firm such that companies can balance their social, financial and environmental risks and obligations. While companies have begun identifying the need to ingrain sustainability into the organisation, most business leaders still do not have a clear idea on how to go about doing so. THE CULTURE OF SUSTAINABILITY When talking about sustainability in business we mean managing the ‘triple bottom line’ such that decision making takes into account not only profits but also people and the planet along with social and environmental risks and obligations. In this sense, corporate reporting takes into account the environmental and social impact of the firms operations. But a culture of sustainability is more than just the corporate report and the face value of the initiative. It is one in which all the members of the organization share the spirit and the passion for the cause of balancing profitability with environmental accountability and social well being. Such a culture constantly strives to improve the lives of stakeholders while successfully carrying out its operations over the long term. WHAT DIFFERENTIATES SUSTAINABILITY FROM OTHER INITIATIVES? Most organizational change initiatives are largely...
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...by rival General Electric Co. and that shareholders were nag- ging Siemens to dump its medical equipment unit. Everyone’s job was on the line. The negotiations were tough. But Kleinfeld won over workers, hanging around the factory asking detailed questions. He answered e-mails from employee reps almost immediately, even late at night, recalls Werner Mönius, chairman of the work- ers council in Erlangen, Germany, home base of Siemens Medical Solutions Division. “He was able to motivate people to pull together,” says Mönius. The workers signed off on Kleinfeld’s plan, which helped cut the time it took to build a $100,000-plus diagnostic scanner from six weeks to one. Siemens Medical is now Siemens’s most profitable business. And that cocky young boss? This month Klein- feld, now 47, becomes chief executive of Munich- based Siemens, a $100 billion behemoth that oper- ates in 190 countries and makes subways, light bulbs, power plants, auto parts, automatic mail-sorting equipment, and more. With 430,000 employees and 12 major divisions, Siemens is the rock of Germany Inc., which still needs to learn how to survive and thrive in a world where heavily taxed, slow-moving European companies operate at a disadvantage. If Siemens can reach new levels of profitability, maybe the rest of Corporate Germany has a chance, too. Siemens Chief Executive Heinrich von Pierer and the company’s supervisory board, which includes such corporate luminaries as Deutsche Bank CEO Josef Ackermann and former...
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...Dissertation REPORT ON IMAGINATION AT WORK For PARTIAL FULFILLMENT FOR THE AWARD OF THE DIPLOMA OF POST GRADUATE DIPLOMA IN MANAGEMENT (PGDM) SUBMITTED TO SUBMITTED BY Prof. (Dr.) Neeran Gautam Director, UIMS Mr. Amit Sinha Enrollment No. UIMS-PGDM-10-005 Batch: 2010-2012 [Type text] [Type text] PREFACE As a part of my syllabus of PGDM programme in Final year, I was assigned some Practical and theoretical project work. Study of management will be immaterial if it is not coupled with study of financial aspect of the business. It gives the student an opportunity to learn the connection between comparison & execution to test & verify application of theories & help in the comparison of management theories and practice. The study gives a chance to know about the profitability and financial position of the firm. I have chosen General Electrics which is a $14.2 Billion Global company in Information Technology Services, R&D Services, and Business Process Outsourcing. This report contains the analysis of the 8 years data of the company. In the Scenario Analysis of the company we have included the company’s industrial GDP, its Market Share, Market Capitalization, Market Growth, HR policy etc. some other reason of choosing this segment are; Highly versatile & innovation oriented sector Large number of employees are working Highly challenging job opportunities High growth opportunities Work on international project Platform to show the difference dimension...
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...Leadership Ethics and Social Responsibility The purpose of this chapter is to examine important issues about leadership ethics and social responsibility. The focus is on leaders rather than on a general treatment of business ethics, and includes a summary of the theory of ethics. Skill building is also incorporated into this chapter. CHAPTER OUTLINE AND LECTURE NOTES Being ethical and socially responsible is part of being an effective leader even if many financially successful executives are unethical and socially irresponsible. I. PRINCIPLES OF ETHICAL AND MORAL LEADERSHIP Ethics is the study of moral obligations, or separating right from wrong. Also, ethics are the accepted guidelines of behavior for groups or institutions. Morals are an individual’s determination of what is right or wrong and is influenced by his or her values. A moral leader will practice good ethics. Edwin H. Locke argues that ethics is at the center of leadership because the goal of a rational leader is to merge the interests of all parties so that everyone benefits and the organization prospers. A. Five Ethical Leadership Behaviors 1. Be Honest and Trustworthy and Have Integrity in Dealing with Others. Trustworthiness contributes to leadership effectiveness. It appears, however, that trust in business leaders is low. Integrity refers to loyalty to rational principles, thereby practicing what one preaches regardless of emotional or social pressure. (A criminal can have integrity...
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...“Why is the 2011 GE considered to be a watershed election?” ForDr. Lee Lai To Nanyang Technological University | | By Ng Wei Qiang U1010722H Word Count: 2805 words (Excluding Cover Page) March 3, 2012 To understand why GE 2011 was considered by many to be a watershed election, we must first take a look at the historical context of Singapore’s political scene which has been dominated by the People’s Action Party (PAP) since its independence in 1966. In fact, from 1966 up to 1981, there was not a single opposition Member of Parliament (MP). Among other reasons, one compelling fact was the boycott of the Barisan Socialis in the 1968 elections, allowing the PAP to sweep the polls, capturing all 58 seats and garnering 84.4% of all votes. Since then, the PAP has not looked back, dominating all Parliamentary General Elections while the opposition has failed to make any significant inroads in the political scene. However, it should be noted that over the years, the PAP has had a few upsets along the way with J. B. Jeyaratnam breaking the PAP’s monopoly of the Parliamentary seats with an unexpected victory in the 1981 Anson by-election. The next 3 elections in 1984, 1988 and 1991 then saw a downward swing in PAP’s popular vote, culminating in the PAP garnering only 61.0% of votes and losing 4 seats in 1991. This was significant in the fact that firstly, it was the lowest percentage of votes garnered by the PAP and secondly, it was the most seats lost to the opposition...
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