As a business novice, I was intrigued to read such a comprehensive book by one of greatest business minds of our time. But hey, you’ve got to start somewhere and Jack Welch is the perfect man to provide certain business insights that only a few a the top truly get and implement. Of all the plethora of knowledge throughout the book, I found his discussion of differentiation the most intriguing. By this, he means the 20-70-10 rule: with business portfolios and employees there are always the 20% top performers, the 70% middle that make up the vast majority and the bottom 10%. The bottom 10 must go, no question. But then who in the middle 70% will now fall to the bottom 10%?
Jack Welch ran a well-oiled machine at GE and having the opportunity to learn from him was a treat. As someone entirely schooled in law, I find the land of business quite foreign. But with Jack Welch’s no-nonsense approach to business, I feel like I could hold my own in a business discussion with a couple of MBAs (minus the Six Sigma stuff (ha!)).