The Most Successful CEO In Modern History Says It’s All About Hiring The Right People
Jack Welch, famed CEO of GE and one of the most successful, well-diversified and cash-rich corporations in the world, spells out his formula for success in his autobiography, Jack. It’s brilliantly simple, direct, and we can all learn from his beliefs and his implementation of successful strategy.
Simply stated, he says successful business is all about the right people. The people he hires are people who understand how to think outside the box, people who are creative and energetic, people who have a vision and are willing and capable of turning visions into reality. That’s how he has enjoyed a lifetime of success, by hiring the best people he could find.
However, that was not sufficient. After hiring the best, he encouraged them to take risks, make mistakes and strike out on occasion. No one bats .1000, says Jack, and the most important thing was to encourage a manager to take a risk in a new venture or product. After the inevitable failed attempt, he made very certain that the manager did not lose his self-confidence and did not dwell on the failure, but rather focused on what he learned and what mistakes he may have made and how to avoid these traps again. Never did he allow them to get timid, conservative or fail to get back up on the horse and ride again.
He encouraged his managers to do their best and if it did not work out, he supported them in their second attempts. That’s why he says he was so successful in so many varied aspects of GE, by following this simple rule. Hire the best and then support them through thick and thin, through failure and success.
Interestingly, in the book The Toyota Way that describes the Japanese theory of management success, it is revealed that an enormous amount of time and effort is spent supporting their employees as well, considering them their most important asset. Toyota is considered to be the leading corporation in the world by many analysts.
Maybe Jack and Toyota have the right idea, after all, they are the best. Are you following this advice? Call me if you need help.
i find this idea quite intersting.
this method is gonig to work in any sctor.
thanks for giving edge to my thought.
No problem, I hope I provided some valuable insight.
don
lets link our web sites together as I would love my readers to be able to read your stuff.
Is that all there is to it? Hiring the best people? doesnt it matter what the C E O himself is made of?If we hire great people and we cant provide them with the required leadership,do we have a good chance in this highly competitive bussines world?
Of course there are many components required for success and yes competent management is one, adequate capital is another a viable plan and strategy a third, but the point is that this CEO who was extremely successful based his success on competent managers. Take out of this what you feel is important.