Jack Welch

Winning

1. IDEA 1

   Clear values guide companies

   Welch, the former chief executive of General Electric, argues that companies need a clear mission and values that describe how people should behave. These must be lived, not just written down.

2. IDEA 2

   Candour speeds everything

   Welch argues that lack of candour, honest communication, is a major problem in business. Candour speeds decisions and improves ideas. When people say what they really think, bad ideas are caught sooner and good ones get a fair hearing.

3. IDEA 3

   Differentiate performers

   Welch describes differentiation, rewarding top performers and dealing honestly with low performers. This approach was controversial. Welch believes that pretending everyone performs equally hurts both the strong and the weak, since nobody learns where they stand.

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