Jack Welch led GE from 1981-2001, transforming it into the world's largest and most valuable company. He focused on restructuring, downsizing, and acquisitions. Under Jeff Immelt from 2001 onward, GE shifted from a performance-driven culture to prioritizing customer satisfaction and diversity. While continuing Welch's focus on growth, Immelt emphasized external recruitment, social responsibility, and innovation through new research initiatives. Overall, Welch and Immelt both grew GE substantially through different strategic approaches and leadership styles.

1. Jack Welch and Jeffry immelt:Continuity and change in strategy, Style, and culture at GEPankajUpadhayeNehaKhatriNiati DixitShikajainMdZeeshan Farooqui

2. Introduction to GE Founded by Thomas Alva Edison as EGEC in 1878.Merged with THEC in 1892 to form GE.First formal CEO Charles Coffin 1894.In 1896, General Electric was one of the original 12 companies listed on the newly formed Dow Jones Industrial Average. Acquired more than 350 companies, including mammoth players like- National Electric Lamp Association (NELA) , reacquired RCA, NBC television network .

3. GE at presentOperates in 100+ countries worldwide300,000+ employees worldwide2009 revenue - $174 billion2009 earnings - $31.4 billionOne of original six companies still remains listed after 114 year on Dow Jones index

4. Who is Jack Welch?1935: born in Salem, Massachusetts1957: BS in Chemical Engineering1960: MS and PhD in Chemical Engineering

5. Jack Welch1999: Named “Manager of the Century” by FortuneNamed one of the three most admired business leaders in the world by Financial TimesSeptember 7, 2001: Retired as CEOPublished autobiography, “Jack, Straight from the Gut”

6. Jack Welch and GE1960: Joined GE as a junior engineer10 Years later he audaciously wrote in his annual performance review that his long-term goal was to become CEO1972: Elected GE’s youngest VP1977: Become senior vice president1979: Vice ChairmanApril 1, 1981: Became the 8th Chairman and CEO of General Electric

7. Taking Over GE’s CEOChallenges from outside of GEEconomic recession

8. High interest rates

9. Highest unemployment rate since the depressionChallenges from GE Massive information and inefficient macro-business

10. Welch’s Vision“A decade from now, I would like General Electric to be perceived as a Unique, high-spirited, Entrepreneurial enterprise…the most profitable, highly diversified company on the earth, with world quality leadership in every one of its product lines”. -- Jack WelchThree-Circle Vision for GE

11. “Restructuring the Hard Drive”Challenged everyone to be “better than the best”Sold more than 200 businesses and made over 370 acquisitionsInsisted GE become more “lean and agile” resulting Delayering: elimination of the “sector” levelDownsizing: elimination of about 123,450 jobsDivestiture: elimination of an additional 122,700 jobsReplaced 12 of his 14 business heads

12. Initiatives - ObjectiveCut the companies spending on R & D.Work-Out – Group of 50 employees companies policy and process.Best Practices – Involving all employees in the quality process.Going GlobalSix Sigma - In late 1995E-Business

13. Passing the TorchRetirement – September 2001Lengthy process of successionInternal candidates onlyNever named candidatesNo strategic visionNo common measure for candidatesLong list of candidates

14. GE under Jack WelchWelch – a hard task-master.

15. Surprise visits – a part of his style of functioning.

16. Under Welch, GE functioned as a true meritocracy.

17. The Annual ‘C’ session meetings.

18. Promoted the idea of ‘Boundary – less corporation’ at GE.

19. Jack Welch’s – Theory of Leadership – The 4E’s + P.Theory of Leadership – The 4E’s + P

20. GE under Jack WelchConcept of borrowing unpatented ideas from other corporation.Sig Sigma, Demand Flow Technology, Bullet Train Thinking, Quick market Intelligence, etc.Bottom 10% least effective employees were fired.Tendency to jump to conclusions about people.An extremely demanding boss – “What have you done for me lately?”

21. GE Under Jack WelchRevenues shot up from 28 billion to 129.8 billion (1981 – 2001)

22. The Immelt Revolution