The photo above was a picture of the Johnson & Johnson Philippines President and Managing Director, Jeffrey Go, talking about my favorite CEO, Jack Welch. I felt compelled to post this because Jack Welch indeed deserves the coin CEO of the Century and to learn his principles and his way of thinking will actually ‘force’ you to perceive and analyze challenges and opportunities in a whole different way.
One of the great lessons I learned from his book Straight from the Gut is taking a deeper look at the market we play. Relating it to a bigger general idea, it simply means going beyond and deeper what and how we perceive current key achievements we uphold because although we say that it is already an achievement (or something that we thought have already penetrated and tested or tried to penetrate and test but only ensue to negative unsatisfying result), we might only seeing a parcel of a bigger chunk. So he encourages people, especially the leaders in their specific organizations, to change the way we look at and analyze things so we can grow sustainably through broader opportunities.
The best example of that during his early administration in General Electric was his Number 1 and Number 2 strategy where he only retain businesses that were market leader and a runnerup. In a most surprising way, a marine (I guess, but it was an army man) tested this strategy and ‘belief’ telling that being number 1 and number 2 might only been based on how they define market shares of number 1 and number 2 and the total market without looking at the truest, most realistic and bigger battle field.
As a result, the once thought a bigger market share shrunk into smaller one, thus, a greater opportunity for them to grow and a bigger potential for businesses to serve more peole.
Right now, I might not have applied it yet with a tangible result but I know that the principle has transpired upon me that I believe is very useful to the way I will see and analyze things. I might not have implemented my thoughts now, however, I am confident that later on in life, what I learned is more than lessons I learned from many years in academe and in the workplace. This is, indeed, perspective-changing!
I highly recommend Jack’s book to be one on your shelf, especially to managers and those who desire for a higher position. As Warren Buffet commented, his books are like crash course to management.
Below is sample of my notes because I was so eager to learn the way he thinks and how he look at relevant things. One of these days, I’m gonna read it again so I can refresh and understand it better before buying another of his books.