Book SummaryWinning, by Jack Welch and Suzy Welch

1-Page Summary1-Page Book Summary of Winning

In Winning, business executive and former General Electric CEO Jack Welch shares advice on how to win in the business world, whether you’re running your own company or trying to climb the corporate ladder.

Welch began his career at General Electric (GE) in the 1960s as a junior engineer. Over two decades, he worked his way up in the company, eventually becoming chair and CEO in 1981, where he remained for two decades until his retirement in 2001. Welch transformed GE into the most valuable company in the world and, in the process, became [one of the nation’s best-known business...

Winning Summary General Principles of Business

We’ll begin with some of Welch’s big-picture principles for running a successful company: candor and differentiation.

Candor

According to Welch, candor is one of the most important qualities to cultivate in your organization. People should be encouraged to be outspoken, direct, and honest in their communication.

(Shortform note: In Radical Candor, Kim Scott argues that establishing “radical candor” in your organization, or a culture of respectful honesty and frankness, will make it more effective. Scott says that being a boss is about managing relationships, and it can be difficult to find the proper balance between being too friendly and too harsh. Radical candor helps strike this balance and is guided by two key principles: caring personally for people and challenging them. Caring personally for people will show that they can trust you, and it will make them more receptive to your feedback. Challenging them will motivate them to improve and give them clear guidance on how to do so.)

Welch claims that establishing candor in your organization helps in...

Winning Summary How to Manage Your Company

Now we’ll look at some of Welch’s advice regarding best business practices, such as hiring, people management, and adaptation.

How to Hire Effectively

Welch emphasizes the importance of having strong hiring practices as a way to ensure the right people are working for your business. He claims that hiring is a tricky process, and though a strong résumé and experience are important, you’ll often have to rely on instinct to determine who will be best for the job. Through trial and error, Welch has identified five key characteristics to look for when hiring an employee:

1. Vigorous: You want employees who are active and optimistic. Such people work hard and get along well with others.
2. Inspirational: You want employees who can inspire and motivate others through both their words and actions.
3. Decisive: In business, people have to make tough decisions, and they often don’t have as much time or information as they’d like to have. You want employees who try to analyze situations and make the best possible decisions when they can, but who are also not afraid to make a quick decision when necessary.
4. Effective: Make sure your employees know how to get...

Winning Summary Advancing Your Career

Now let’s explore some of Welch’s tips on how to further your career. We’ll look at his advice on finding the right job, getting promotions, and handling work-life balance.

Finding the Right Job

Welch claims that finding a job that’s the right fit for you can only be done through trial and error. There is simply no way of knowing how much you’ll like a job, or how good you’ll be at it, until you try it out. Furthermore, it’s important to understand that no job is perfect and there will always be things you don’t like about it. It’s not about finding the perfect job, but the one that best suits your needs and capabilities.

(Shortform note: In What Color Is Your Parachute, Richard Bolles argues that job hunting is about learning who you are and what you want to do with your life. Though you may not know if a job is truly right for you until you try it, Bolles provides some tips on how to find a job that matches your identity and life goals. He recommends the flower exercise, in which you look at yourself from...

Shortform Exercise: Apply Welch’s Business Advice to Your Life

Let’s examine how you can apply Welch’s general principles of business, management tips, and advice to your career and life.

Welch believes candor to be a vital aspect of a company’s culture. Think of a time recently when a lack of candor at your workplace caused an unnecessary problem. For example, maybe you were afraid to speak up at a meeting, allowing an issue to linger longer than it should have. What could your workplace do to encourage a more candid environment? What’s something you might do to make your communication at work more honest and direct?