Students and alumni at the Anderson School of Management packed
into Korn Convocation Hall to hear from one corporate executive
whose management style is analyzed and taught in business schools
nationwide.
Jack Welch, former CEO and chairman of General Electric for 20
years, came to Anderson on Monday to discuss leadership, management
skills and the current state of corporate America. He retired from
General Electric in 2001.
During his tenure as an executive, General Electric’s
market value rose from $13 billion to $500 billion, and the company
went on to have the largest market capitalization ““ the
number of shares outstanding in the stock market multiplied by the
stock price of each share ““ in the U.S. stock market.
Anderson Dean Bruce Willison asked Welch questions about
leadership and what skills are needed to be successful in the
workforce. Then audience members were able to ask Welch
questions.
Dean Willison asked Welch about what elements are required to be
a good leader. Welch responded that when newly minted MBA
recipients head into the workplace, their primary goal should be to
produce individual results.
But once an employee is promoted to management, the focus must
shift to working in a team.
“The moment you become a leader, it’s about
them,” he said, referring to team members.
Welch said he believes that the transition from executing as an
individual to managing a team can be difficult, but it is necessary
to become a good leader.
He also discussed some qualities he looked for in potential
leaders when putting together a solid management team at General
Electric.
Passion and energy were some characteristics that he
mentioned.
“People want a can-do personality,” he said.
Welch elaborated that good leaders have vision and “give
people a new perspective that they never had.”
He also expanded on the importance of producing results and
emphasized that to be successful in the workplace, an individual
should display his or her “ability to
over-deliver.”
According to Welch, “over-delivering” will show
management how valuable the individual is to the company.
“Then you have something to show your boss,” he
said.
Welch also commented on the state of corporate America and
discussed the role of service that board members should be playing.
He said board members should focus on helping their companies as a
whole with a wider perspective of that company.
He called on executives to get involved with the companies they
run and encouraged them to better understand the employees who work
for them. Furthermore, he said board members should not waste time
by trying to micromanage their employees.
“Boards are forgetting what their jobs are,” he
said. “The board has to touch and feel real people doing real
things.”
He also shed light on how to move up the corporate ladder.
“One of the main ways to get promoted is to go where the
action is,” Welch said.
For example, he said, if a company is investing in China and
making it a part of its corporate strategy, traveling abroad and
working there is paramount.
One audience member asked Welch about the goals he had when he
graduated from college. Welch said when he was younger he did not
have aspirations to become an executive. For him the goal was
“to make enough money to eat.”
Welch said one of the best ways to learn and experience
mentorship is through reading various financial publications, such
as the Wall Street Journal and Fortune magazine. He added that a
one-on-one mentorship is not the only way to learn, and that taking
the time to read such publications can provide young businesspeople
with a lot of information.
Overall, Anderson students said they enjoyed Welch’s
visit.
“He’s just a dynamic character,” said Brian
Below, a second-year MBA student. “His humor and personality
go a long way,” he said.
“I thought he was very personable,” said second-year
MBA student Wendy Tirsch.