certified 8(a) and mbe oct 2014 winningstringinfo.com/wp-content/uploads/2014/11/string-book...jack...

WINNING

Jack Welch

Certified 8(a) and MBE

www.stringinfo.com

Oct 2014

[email protected]

Jack Welch - Career

� In 1960, Welch joined GE as a Chemical Engineer

� In 1972, he became youngest Vice President

� In 1979, he became Senior Vice President

String. All Rights Reserved 2222

� In 1981, he was chosen to be company’s eighth and

youngest CEO

� In 2001, he retired as Chairman and CEO of General

Electric

Winning


Winning: – Noun and Verb

� Brutally hard but achievable

� No easy formulae for success

Sections Of The Book

Underneath It All

• Mission and Values

• Candor

• Differentiation

• Voice and Dignity

Your Company

• Leadership

• Hiring

• People Management

• Parting Ways

•Change

•Crisis Management


Your Competition

• Strategy

• Budgeting

• Organic Growth

• Mergers &

Acquisitions

• Six Sigma

Your Career

• The Right Job

• Getting Promoted

• Hard Spots

• Work Life Balance

Mission statement

� Mission balances

the possible and the impossible

� How do you plan


� How do you plan

on winning in this business? That’s your mission statement

“A mission cannot, and must not, be delegated to anyone except

the people ultimately held accountable for it.”

� Values are the behaviours you plan to exhibit in achieving your

mission

� Values are marching orders.

Winning

Proposition

Values


� Values are marching orders.

� Values should be:

1. Tangible

2. Identifiable

3. Real

4. Clear

� Mission and values rupture due to the little crises of daily life in

business

Candor

� The biggest dirty little

secret in business

� Candor is hard to

implement and time

consumingIdeas

Cuts

Costs


� To get candor, you should

reward it, praise it and

talk about it

� Candor works because it

unclutters

People talk,

get Idea rich

Ideas

Pick

Pace

Differentiation

� 3 Categories of employees:

- Top 20% : Star performers; to be

rewarded and nurtured

- Middle 70% : Future stars & core

workers; to be trained & cultivated


workers; to be trained & cultivated

- Bottom 10% : Have to let go

� Differentiation helps get best

people in the team

Thought Process

� Management gets ideas from very few vocal people

� Majority is not asked or are scared to speak

� Everyone should be heard and respected

� Brings every brain into the game

� Leads to explosion in productivity


“For twenty-five years, you paid for my hands when

you could have had my brain as well - for nothing.”

Recruiting

� Upgrade, evaluate and coach your team

� Optimism, trust, candor, courage, risk taking and

transparency – key elements

� Hiring good people is hard, hiring great people is

brutally hard

� Hiring is one of the most important tasks in an


� Hiring is one of the most important tasks in an

organization

Test for Integrity

Test for Intelligence

Test for Maturity

Positive EnergyCan Energize

others

Has an Edge Can Execute

Passion

4E And 1P Framework For Hiring


Hiring at Top Positions

• Ensure use of rigorous, non-bureaucratic evaluation

system

• Jack Welch used 4E/1P framework to increase hiring

success rate from 50% to 80%

Parting Ways

� Reasons for parting of ways:

- Lack of integrity

- Economic downturns

- Non-performance


� Mistakes to avoid:

- No surprises

- No humiliation

- No procrastination

Change

� Practices in times of Change:

- Keep clear goal

- Hire & promote true-believers

and go-getters

- Remove all the resistors

- Look for ways to leverage

Culture

Technology


- Look for ways to leverage

change

� Myth: “You don’t have to change

until you have to”

PeopleProcess

Your Competition


Welch’s Strategy Approach

� Ponder less, do more

� Come up with a big aha -

smart & realistic

� Put right people in the

right jobs


right jobs

� Seek out the best

practices to achieve big

aha -- Continually

improve

Welch’s Strategy Approach (contd…)

� Focus on the playing field:

- Competitors

- Market Share

- Strength & weaknesses of competitor

- The customers


Your Career


The Right Job

� Welch’s guidelines:

- Get a job, learn, get to know yourself

- Get another job more suited to your strengths

- Repeat the process until you find a job you love


Don’t expect a perfect job in an imperfect world

Balancing Life & Career

� Compartmentalize

� Set your priorities straight

� Don’t leave yourself out of


� Don’t leave yourself out of

those priorities

A Decade Of Experience In Title & Mortgage

2004

String starts

operations in US

2007

1 of 500 fastest growing

companies in US

2008

Smart CEO Future 50

Award

2009

Successfully weathered

mother of all storms

2011

Certified under ISO

27001:2005

2013

A TRUSTED name

in Title Insurance

Highlights Affiliations Citations


Highlights

� HQ in Wash DC Metro area

� 3 global delivery centres

� Strong local presence

� Over 350 processes for 75

customers

� Serving the Top-4 Underwriters

Affiliations Citations

INDUSTRIES

Services Portfolio

Making the real estate industry more efficient

Title Insurance

� Title Production

� Closing Support

� Curative Processing

� Other VMC Services

� Title Plant Building

Residential Mortgage

� Loan Processing

� Underwriting

� Closing Support

� Post-Closing Support

Commercial Real Estate

� Property Management

� Leasing & Brokerage

� Facilities Management

� Investment Management

� Corporate Real Estate

Services

String. All Rights Reserved

SERVICES

22

ComplianceCompliance

Quality AssuranceQuality Assurance

Data, Research & AnalyticsData, Research & Analytics

Software Development & IntegrationSoftware Development & Integration

1

2

3

4

ConsultingConsulting5

Services

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