Jack Welch and hisFunWorkLife

Jack Welch, who led G.E. through decades of prosperity, is dead at 84. He died on Sunday 1st March, 2020 in New York City.

How did he, described hisFunWorkLife?

Personae Description: Combative and blunt.

Personnel Management: Someone who dislike bureaucracy, made sweeping payroll cuts by slashing G.E. work force. Earning himself the nickname “Neutron Jack,” in the process.

Talent Development: He created intrapreneurs within G.E., and other companies repeatedly recruited talent from there.

Accolades: In 2000, The Financial Times named G.E. “the World’s Most Respected Company” for the third straight year. That was a period, when Mr. Welch was managing the company. And Fortune magazine named him, the “Manager of the Century,” in 1999.

Curtain Fall, Window View Thought: If the widely diversified corporation that Mr. Welch built for about four decades (from 1960 when he joined, to 2001 when he stepped down as Chairman and CEO), is now out of favour in year 2020; why the fight in the trenches of life, especially corporate or political life?

What Mr. Welch gave to hisFunWorkLife, was it, =, >, or <, what he gave to hisWork, what he gave to hisFun, or what he gave to hisLife?

Life Map

  • 1935: Year of his birth, (years before G.E. = about 25 years).
  • 1960: He starts his career at G.E.
  • 2001: He steps down as G.E. Chairman and CEO, (years at G.E. = about 40 years).
  • 2020: He stepped out of life, (years after G.E. = about 19 years).

Fifty Percent of Life at Work (in G.E.) + Fifty Percent of Life Outside of Work = Total Existence

https://www.dailymail.co.uk/video/news/video-1160724/Achieving-work-life-balance-according-Jack-Welch.html

There’s no such thing as work-life balance

But that will be throwing out his post G.E. Work-life. This includes productive work, and income generating activities such as the two business books that he co-wrote with his wife, Suzy Welch, “Winning,” published in 2005, and “The Real Life MBA,” published in 2015. Or that he now has an MBA program running at his Jack Welch Management Institute. And that he kept making money from other ventures till he stepped out of life.

Seventy Percent of Life at Work + Thirty Percent of Life Outside of Work = Total Existence

It therefore seems like the most important part of Mr. Welch’s life was about G.E. And Mr. Welch ‘succeeded’ during his time at G.E., so did G.E. defined him? Should whatever G.E. has become now, also define him? Should his life before G.E. or after G.E. define him?

New York Times business columnist James Stewart wrote in 2017, “Hardly anyone considers Mr. Welch a management role model anymore, and the conglomerate model he championed at G.E.- has been thoroughly discredited, at least in the United States.”

But as Mr. John A. Byrne wrote in “Jack: Straight from the Gut,” Jack Welch “…was the right person for the (his) time,”

A story can be written in different ways, to show whichever side we prefer to look from.

Jack Welch – It’s Not Where You Start From

Jack was an only child to a railroad conductor father and a homemaker mum. Neither of his parents had graduated from high school, but he earned a bachelor’s degree and a Ph.D.

He inherited a strong company, with $1.5 billion in profits, but took it higher. He led G.E. to a record fivefold jump in revenue and got the company’s stock market shares valuation to soar from $14 billion to more than $410 billion. And for all his hard work, love him or hate him, he went home with a record severance payment of $417 million when he retired in 2001. Got married thrice and surely had kids.

hisFunWorkLife, hisWork, hisFun or hisLife?

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Once Got Fired from Work, But Later Built a $64B Personal Net-worth

His name is Michael Bloomberg.
1996: Got a job in “The Cage” at Salomon Brothers
1981: Fired from Salomon Brothers (age 39)
1981: Co-founded financial information and media company Bloomberg LP
2002: Three-term Mayor of New York City (spending 12 years in all)

2014: Back as CEO of Bloomberg L.P.

2019: Resigned as CEO of Bloomberg L.P to run for president of the US

2020: US Democratic Party primaries Presidential Candidate.

REVIEW SPACE: Of course, the game changer that brought about his wealth was going into entrepreneurship and not sitting in, climbing a dazing ladder as a paid employee. But would entrepreneurship have ever happened, and at the time it did if he was not fired from his job? If Bloomberg had gone into entrepreneurship at another time (possibly years later after he was fired), and he did not follow through on his ongoing project then at Salomon Brothers, would he have achieved the same wealth?

“Just know that in the end, you’re going to be fine and they’re not” … dealing with critics

“Failure can often lead to something better.”

Note: Not all rich and influential people are a ‘success’. And like all normal human beings, our personal, public or private life is not closed until death, it’s still an open book – the past can be re-written in a better future.

OTHERS Who Went Through Similar Life-Space (From Getting Fired from a Job to Getting Wealthy)

  • Oprah Winfrey – Let go from dream job for being ‘dull and stiff’.
  • Steve Jobs – Forced to resign by the Board, from the company he founded.
  • Mark Cuban – Made a big sale, but fired because he won’t listen to his boss.
  • Walt Disney – Fired because he ‘lacked imagination and had no good ideas.’

Check-in: Have you now got the message?

  • “You always pass failure on your way to success.” – Mickey Rooney
  •  “Failure should be our teacher, not our undertaker.” – Denis Waitley
  • “Most great people have achieved their greatest success just one step beyond their greatest failure.”- Napoleon Hill
  • “When you take risks, you learn that there will be times when you succeed and there will be times when you fail, and both are equally important.”- Ellen DeGeneres
  • “Failure is another stepping-stone to greatness.” —Oprah Winfrey
  •  “Failure is a detour, not a dead-end street.” —Zig Ziglar
  • “Failure is not the opposite of success, it’s part of success.” —Arianna Huffington

There were instances when “I wanted to walk out and slam my fist into a lamp post after reading the papers. It was not because of what they said, it was because of what I did or I said that was stupid. It was my mistake that bothered me,”… Michael Bloomberg during years as mayor of New York City.

Chief People Officer fails HR test

Chief People Officer out amid reports of ‘compliance’ rule-breaking