Get 4 months extra on a 2 year plan at https://nordvpn.com/howhistoryworks. It’s risk-free with Nord’s 30-day money-back guarantee! Thanks to NordVPN for sponsoring. Sign up for my FREE newsletter! - https://www.compoundeddaily.com/ ------ #business #History #career Link To Our Other Channel: https://www.youtube.com/c/HowMoneyWorks Written By: Sam Video Created By: Svibe Multimedia Studio Editor: Cardan Media Gatherer: Andrea Rivas Footage Courtesy of: Getty Images Music Provided By: Epidemic Sound For sponsorship inquiries, please contact sponsors@worksmedia.group ----- There’s no middle ground with this CEO. His legacy ranges from the genius who streamlined corporations through revolutionary management techniques, to the fat cat who destroyed the American business landscape by making life worse for employees. [2] Then there are those who say he ran a bona fide cult so steeped in capitalistic fever that even Ayn Rand would have cringed. He retired with a $417 million severance package - the biggest ever at that point in time. That’s enough to raise the eyebrows of even his most dedicated disciples. Yet, he always saw himself as fighting for the little guy. He championed the efficient infrastructure of small business over the sluggish mechanisms of big bureaucracy. Yet he never shied away from defending lucrative bonuses for CEOs such as himself. Not even when firing scores of blue-collar factory workers! His paradoxes all stem from his expertise as a chemical engineer. A deep understanding of synthesising opposing elements, creating catalysts, and measuring explosive outcomes explains how his methods for success have split people down the middle. ou could say his business approach was capitalism’s free radical – reactive, energetic, but short-lived. Or was it? Am I just playing devil’s advocate, or should we give the devil his due? Were his techniques always destined for downfall or have other companies improved his formula? And did General Electric collapse because of him or in spite of him? It’s time to learn How History Works as we distil the corporate history of Jack Welch. ----- SOURCES 1. https://www.newyorker.com/magazine/2022/11/07/was-jack-welch-the-greatest-ceo-of-his-day-or-the-worst 2. https://www.npr.org/2022/06/01/1101505691/short-term-profits-and-long-term-consequences-did-jack-welch-break-capitalism 3. https://www.referenceforbusiness.com/biography/S-Z/Welch-Jack-1935.html 4. https://www.investopedia.com/terms/j/jack-welch.asp 5. https://www.aluro.com/blog/noryl-a-solid-competitor-for-polyamide-abs-and-pvc 6. https://www.aluro.com/blog/noryl-a-solid-competitor-for-polyamide-abs-and-pvc 7. https://www.theatlantic.com/politics/archive/2015/08/how-millennials-forced-ge-to-scrap-performance-reviews/432585/ 8. https://www.youtube.com/watch?v=VM0AU-vPNeQ 9. https://factorialhr.com/blog/stack-ranking/ 10. https://www.nytimes.com/2022/05/21/business/jack-welch-ge-ceo-behavior.html 11. https://www.epa.gov/hudsonriverpcbs/hudson-river-cleanup 12. https://www.nytimes.com/1990/07/27/business/ge-agrees-to-pay-16.1-million-fine-for-pentagon-fraud.html 13. https://www.justice.gov/opa/pr/justice-department-and-consumer-financial-protection-bureau-reach-169-million-settlement 14. https://www.investopedia.com/insights/rise-and-fall-ge/ 15. https://www.independent.co.uk/news/world/americas/jack-the-lad-pays-180m-to-keep-his-divorce-and-a-whole-heap-of-dirty-linen-out-of-court-94957.html