idl book review ppt-final

7/29/2019 IDL Book Review Ppt-Final

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Book Review

By,

Nikhil Abbi (B002)Sridhar E (B021)

Piyush Gupta (B025)

Sagar Gupta (B027)

Rahul Sangani (B050)

Rohit Solanki (B057)


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The Book


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The Author

John Francis "Jack" Welch,Jr

Born in Massachusetts

PhD -Chemical Engineering

Former Chairman & CEO of

GE

Manager of the Century

Fortune

One of the three most

admired business leaders

in the world -

Financial Times


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Winning

Winning:noun. The act of a person orthing that wins.

Verb. a) Acquire something through

effort


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Method of study

Selection of book

Thorough reading of the book

Division of parts of the bookamongst ourselves

Brainstorming over the IDLtheories

Collating ideas into the report


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Contents of the book

Winning is brutally hard but achievable

There are no easy formulae for

success

Book however gives:

a) Guidelines to follow

b) Rules to consider

c) Assumptions to adopt

d) Mistakes to avoid


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Structure of the book

Underneath It All

Mission and

Values

Candor

Differentiation Voice and Dignity

Your CompanyLeadership

Hiring

People Management

Parting Ways

ChangeCrisis Management

Your Competition

Strategy Budgeting

Organic Growth

Mergers &

Acquisitions

Six Sigma

Your Career

The Right Job Getting Promoted

Hard Spots

Work Life

Balance


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Differentiation

Underneath It All


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Missions: How do you plan on winning inthis business? Thats your missionstatement

Values: Values are the behaviours youplan to exhibit in achieving your mission

Candor: Being honest and straightforward

Voice & Dignity: Listening to andrespecting everybodys opinion aboutbusiness decisions.

Differentiation: Identifying the top 20%,the middle 70% and bottom 10% ofemployees in the team


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Your Company

Your Company


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Key elements ofLeadership: Optimism,

trust, candor, courage, risk taking and

transparency

Parting Ways Mistakes to avoid aresurprises, humiliation and procrastination

Change requires clear goals, hiring &

promotion of go-getters, removal of resistersand exploitation of wrecks

Crisis Management: assumptions to be

made:

Worse than you imagined

Everybody will come to know of it

Media will crucify you

Systems and people must change


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PositiveEnergy

Can Energizeothers

Has an Edge Can Execute

Passion

Ability tosee around

corners

Encircledwith smart

people

Authenticity

Heavy-dutyResilience

Hiring at Top Positions

4E and 1P

Framework for hiring

Ensure use of rigorous,

non-bureaucratic

evaluation system

Jack Welch used this to

increase hiring success

rate from 50% to 80%

Hiring


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People Management

Give HR powerand primacy

Rigorouslyevaluate with

proven system

Motivate and retainwith money,recognition,

training

Confronttroublemakers: and

big stars withcandor & action

Spend resources toevaluate and coach

the middle 70%


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Your Competition


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Dealing with competition

Dealingwith

competition

Strategy

Budgeting

BusinessExpansio

n

QualityImprovemen

t


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StrategyStrategy is actually very straight forward. You

pick a direction and implement it.

- Ponder less, do more- Big aha- smart & realistic- Put right people in the right jobs- Employ best practices & continually improve

Budgeting:- How to beat last years performance

- How to beat competition?


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Business Expansion:oStart-Ups

- Best people in leadership positions

- Encourage it with much fanfare- Freedom to make their own decisions

Quality Improvement:oSix Sigma

- Improve operational efficiency

- Improve customer experience


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Your Career


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Getting promoted:

Learn & get toknow yourself

Job suited toyour strengths

Repeat wholeprocess until you

love your job

The Right Job:

Perform beyondexpectations

Find the rightmentors

Manage thosebelow you fairlybut with care

Learn frombusiness media

Be positive &fun

Balancing life & career:Compartmentalize and set your

priorities. Dont leave yourself out of

those priorities


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Jack Welch Personality

traits

Extraversion: High

Openness: High

Conscientiousness:

High

Agreeableness: Low

Emotional stability:

Internal Locus of

control Machiavellianism:

High

Risk taking: High

Type A personality


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Pros & Cons

Based on real

life corporate

situations Simple

language

Does notcontain clichs

of management

Good structure

Pros Cons

Preachy at

times

Bad argumentsfor against side

Could have

been moresuccinct

Almost self-

congratulatory


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Conclusion

No other management book will everbe needed- Warren E. Buffett

A candid and comprehensive look at

how to succeed in business - BillGates

Book integrates his personal & second

hand learning experiences gainedfrom running GE

Winning is extremely important

idl book review ppt-final

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