JACK WELCH

An organization's ability to learn, and translate that learning into action rapidly, is the ultimate competitive advantage.

Culture drives great results.

If you pick the right people and give them the opportunity to spread their wings and put compensation as a carrier behind it you almost don't have to manage them.

Globalization has changed us into a company that searches the world, not just to sell or to source, but to find intellectual capital - the world's best talents and greatest ideas.

The idea flow from the human spirit is absolutely unlimited. All you have to do is tap into that well. I don't like to use the word efficiency. It's creativity. It's a belief that every person counts.

Number one, cash is king... number two, communicate... number three, buy or bury the competition.

I was never the smartest guy in the room. From the first person I hired, I was never the smartest guy in the room. And that's a big deal. And if you're going to be a leader - if you're a leader and you're the smartest guy in the world - in the room, you've got real problems.

The essence of competitiveness is liberated when we make people believe that what they think and do is important - and then get out of their way while they do it.

The biggest cowards are managers who don't let people know where they stand.

Face reality as it is, not as it was or as you wish it to be.

Control your own destiny or someone else will.

A strategy is something like, an innovative new product; globalization, taking your products around the world; be the low-cost producer. A strategy is something you can touch; you can motivate people with; be number one and number two in every business. You can energize people around the message.

Public hangings are teaching moments. Every company has to do it. A teaching moment is worth a thousand CEO speeches. CEOs can talk and blab each day about culture, but the employees all know who the jerks are. They could name the jerks for you. It's just cultural. People just don't want to do it.

Change before you have to.

In order to lead a country or a company, you've got to get everybody on the same page and you've got to be able to have a vision of where you're going. America can't have a vision of health care for everybody, green economy, regulations - can't have a bunch of piece-meal activities. It's got to have a vision.

Strong managers who make tough decisions to cut jobs provide the only true job security in today's world. Weak managers are the problem. Weak managers destroy jobs.

Any jerk can have short-term earnings. You squeeze, squeeze, squeeze, and the company sinks five years later.

Be candid with everyone.

One of the jobs of a manager is to instill confidence, pump confidence into your people. And when you've got somebody who's raring to go and you can smell it and feel it, give 'em that shot.

The 1980s will seem like a walk in the park when compared to new global challenges, where annual productivity increases of 6% may not be enough. A combination of software, brains, and running harder will be needed to bring that percentage up to 8% or 9%.

I've learned that mistakes can often be as good a teacher as success.

The team with the best players wins.

Willingness to change is a strength, even if it means plunging part of the company into total confusion for a while.

You've got to eat while you dream. You've got to deliver on short-range commitments, while you develop a long-range strategy and vision and implement it. The success of doing both. Walking and chewing gum if you will. Getting it done in the short-range, and delivering a long-range plan, and executing on that.

Good business leaders create a vision, articulate the vision, passionately own the vision, and relentlessly drive it to completion.