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Jack Welch:
General Electric (GE)
Revolution
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History of GE & CEO
1878 : Edison Electric Light Co.ก่อตัง้ เพือ
่ ขายสงิ่ ประดิษฐด ้าน
ั
ไฟฟ้ าของ โทมัส อัลวา เอดิสน
1889 : Edison Electric ได ้เข ้าร่วมกับ Thomson Houston Co.เพือ่
ั
ก่อตัง้ บริษัท General Electric ซงึ่ ทาธุรกิจหลากหลาย สว่ นเอดิสน
ิ ธิจ
เป็ นเพียงทีป
่ รึกษาและรับค่าลิขสท
์ ากสงิ่ ประดิษฐ์
1960 : Jack Welch ได ้รับปริญญาเอกด ้านวิศวกรรมเคมีจาก
มหาวิทยาลัยอิลลินอยส ์ และได ้เข ้าร่วมงานไปฝ่ ายพลาสติกของ GE
1971 : Welch ได ้เป็ นรองประธานและผู ้บริหารอาวุโส ของธุรกิจ
ิ ค ้าสาหรับผู ้บริโภคและบริการ
สน
1981 : Welch ได ้รับการแต่งตัง้ เป็ นเป็ นประธานคนที่ 8 และได ้เริม่
ปฏิรป
ู โครงสร ้างของ GE
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History of GE & CEO
1982 : Jeffery Immelt ผู ้ซงึ่ จบ MBA จาก Harvard เข ้ามารับผิดชอบ
สว่ นพลาสติก, Area of Sales & Global Product Management
1996 : GE เป็ นบริษัททีม
่ ม
ี ล
ู ค่าในตลาดสูงถึง 150 พันล ้านเหรียญซงึ่ มี
มูลค่าสูงทีส
่ ด
ุ ในโลก
1997 : Jeffery Immelt ได ้รับ President & CEO of GE Medical
System
2001 : Jeffery Immelt เข ้ารับตาแหน่ง CEO ของ GE ต่อจาก Jack
Welch
GE’s CEO Jefferey Immelt
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2001-Present
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Business’of GE : TO BE THE BEST
- การก่อสร ้างทางวิศวกรรม
1.SERVICE
- การบริการด ้านการเงิน
- การบริการสารนิเทศ
- การบริการด ้านนิวเคลียร์
ิ้ สว่ นยานอวกาศ
- ชน
2.TECHNOLOGY
- เครือ
่ งยนต์ของเครือ
่ งบิน
- พลาสติก
้ ตสาหกรรม
- อุปกรณ์ไฟฟ้ าทีใ่ ชในอุ
- เครือ
่ งมือแพทย์
- เครือ
่ งมือก่อสร ้าง
3.MANUFACTURING
- หลอดไฟฟ้ า
้
- เครือ
่ งใชไฟฟ้
า
- เครือ
่ งยนต์
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- กังหันเครือ
่ งบิน
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Fortune 2002 Global Rank
2000 2001
Rank Rank
Name
Rev.
Profit
Asset
Equity
Bil.
Bil.
Bil.
Bil.
2
1
Wal-Mart Stores
219
6 .6
83 .4
35 .1
1
2
ExxonMobil
191
15 .3
143 .2
73 .1
3
3
General Motor
177
0 .6
323 .9
19 .7
7
4
British Petroleum (BP)
174
8
141 .1
74 .3
4
5
Ford
162
-5 .4
276 .5
7 .7
5
6
DaimlerChrysler
136
-0 .5
184 .6
34 .7
6
7
Royal Dutch/Shell
135
10 .9
111 .5
56 .1
8
8
General Electric
125
13 .7
495 .1
54 .8
9
9
Toyota
120
4 .9
150 .1
55 .2
12
10
Citigroup
112
14 .1
1051 .4
81 .2
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Jack Welch: GE’s Revolutionary
What is Jack Welch theory of
Leader?
How things developed at GE?
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Jack Welch: GE’s Revolutionary
1. What kind of Company when Welch took
over?
2. What are his Leadership styles?
3. What did he do about leading change?
4. What did his approach about leading
change?
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GE’s Strategic Change
Under Reg Jones as CEO
 1930s
Financial & Budget Planning
 1950s
Profit Center & Group Staff
 1960s
PIMS (Profit Impact Marketing
Strategy)
 1970s
Portfolio Strategic Planning,
Strategic Business Unit (SBU)
 1977s
Sector and Group Industry
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GE’s Strategic Change
Under Jack Welch as CEO
1981-1983 : Hardware Change
1.
Portfolio Management through
acquisition
1981-1985: acquired over 300 businesses
1985-1990: acquired over 700 businesses
divested over 200 businesses
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GE’s Strategic Change
Under Jack Welch as CEO
1981-1983 : Hardware Change
2. Restructuring into three circles
concept:



Core-Reinvest in productivity and
quality
High technology-stay in leading edge
by acquisition and R&D
Service area-adding outstanding
people, create new venture and
acquisition
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GE’s Strategic Change
Under Jack Welch as CEO
1981-1983 : Hardware Change
3. Downsizing
• 402,000 to 330,000 staff
• Planning staff 200 to 100
4. Removing bureaucracy
 Lean organization from 9 layers to 4
layers
“Kill the bureaucracy will free the talent”
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GE’s Strategic Change
1984-1990 : Software Change / Cultural
change

From radical change to foundation change
1. 3 S Culture
 Simplicity -Clear, lean , agile , low staff
 Speed-make decision in minute, face to face
strategic planning, fast action
 Self-confidence -intellectual self assurance
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GE’s Strategic Change
1984-1990 : Software Change
2. Incentive change
3. Work-out
 Management Forum for problem
solving
 Corporate Executive Council for trust,
familiarity and mutual obligation
4. Best Practice
5. Boundary-less integrate diversity
6. Six sigma
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Jack Welch Leading Change Approach
1981-1983 :
1984-1990 :
Hardware Change
Software Change
Structure
Culture
Radical
incremental
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GE: Jack Welch’s Six Rules
1. Face your reality as it is, not as it was or as
you wish it were
2. Be candid to everyone
3. Don’t manage, lead
4. Change before you have to
5. If you do not have a competitive advantage,
don’t compete
6. Control your own destiny or someone else
will
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GE 1991 Annual Report
To Our Share Owners:
1991 was a tough, terrific year for GE... All
our rhetoric, our 1980s restructuring and our
cultural changes were put to their real test
when much of the global economy settled
into a full year of steady decline.
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GE 1991 Annual Report
So how did we do?
 Our revenues grew 3% to over $60.2 billion.
 Our earnings grew 3% to $4.435 billion…
 We repurchased a billion dollars worth of our
stock….
 Total cost productivity grew 4% ..Return on
equity was close to 20%
 And our share owners were rewarded with a
38% total return in ’91, including an 8%
increase in the dividend.
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GE 1991 Annual Report
So how did we do?
 Removal of bureaucracy and layers
 Take out ‘Sectors”, “Groups” and other
superstructure
 Breaking down the horizontal barriers
that interrupt the flow within and among
business
 Create a huge laboratory of innovation an
ideas
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GE 1991 Annual Report
But


Trust and respect take years to build
Change is more difficult task and not of us
in leadership are capable of.
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Jack Welch’s Leadership Style
In our view, leaders, whether on the shop floor
or at the top of our business, can be
characterized in at least four ways.
The first is one who delivers on commitments
financial or otherwise – and shares the value of
our Company. His or her future is an easy call.
Onward and upward.
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Jack Welch’s Leadership Style
The
second type of leader is one who
does not meet commitments and does not
share our values. Not as pleasant a call,
but equally easy.
The
third is one who misses commitments
but shares the values. He or she usually
gets a second chance, preferably in a
different environment.
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Jack Welch’s Leadership Style

The fourth type – the most difficult for
many of us to deal with. That leader
delivers on commitments, make all the
numbers, but doesn't share the values we
must have. This is the individual who
typically forces performance out of people
rather than inspires it: the autocrat, the big
shot, the tyrant.
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Jack Welch’s Leadership Style
Commitment
Deliver
Share
Miss
First Type
“onward”
Third Type
“second chance”
Fourth Type
“Tyrant”
Second Type
“out”
Values
Not Share
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GE Values
GE Leaders throughout the
Company…..
 Create a clear, simple, reality-based,
customer-focused vision and are able
to communicate it straightforwardly to
all constituencies.
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GE Values (cont.)

Understand accountability and
commitment and are decisive… set
and meet aggressive targets… always
with unyielding integrity.

Have a passion for excellence…hate
bureaucracy and all the nonsense that
comes with it.
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GE Values (cont.)

Have the self-confidence to empower
others and behave in a boundary-less
fashion…believe in and are committed
to Work-Out as a means of
empowerment…are open to ideas from
anywhere.
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GE Values (cont.)
Have, or have the capacity to develop,
global brains and global sensitivity and
are comfortable building diverse global
teams.
 Stimulate and relish change…are not
frightened or paralyzed by it. See
change as an opportunity, not just a
threat.

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GE Values (cont.)

Have enormous energy and the ability
to energize and invigorate others.
Understand speed as a competitive
advantage and see the total
organizational benefits that can be
derived from a focus on speed.
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The End
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