It’s best to be small, no matter how big you are

By slashing unneeded bureaucracy and insisting that GE’s businesses be in the top two positions in their respective fields, Welch instilled an entrepreneurial spirit and a quick-thinking, quick-moving approach to competition and constant improvement. It was a small-company approach to running an enormous, multi-billion-dollar organization, and it worked marvelously.

It’s all about people

Jack Welch’s passion was making people GE’s core competency, and he saw to it that the company found and developed great people.

Companies must be boundaryless to unlock their potential

Insular thinking results in stale ideas and, consequently, stale organizations. By breaking down the walls and borders that separated various departmental and functional areas at GE, Welch was able to unlock the full creativity of his people, propelling the company forward with fresh, creative approaches to problems.

Quality is nothing without efficiency

GE’s Six Sigma initiatives replaced sloganeering quality strategies with ones that brought about measurable results in increased efficiency, reduced defects and satisfied customers.