An organization's ability to learn, and translate that learning into action rapidly, is the ultimate competitive advantage.
Willingness to change is a strength, even if it means plunging part of the company into total confusion for a while.
Good business leaders create a vision, articulate the vision, passionately own the vision, and relentlessly drive it to completion.
Short cycle business are being impacted by credit, and are being impacted by gasoline prices, food, distribution businesses, chemical business.
Willingness to change is a strength, even if it means plunging part of the company into total confusion for a while.
Number one, cash is king... number two, communicate... number three, buy or bury the competition.
If you don't have public hangings for bad culture in a company, if you don't take people out and let them say, they went home to spend more time with the family. It's crazy.
Short cycle business are being impacted by credit, and are being impacted by gasoline prices, food, distribution businesses, chemical business.
If GE's strategy of investment in China is wrong, it represents a loss of a billion dollars, perhaps a couple of billion dollars. If it is right, it is the future of this company for the next century.
In order to lead a country or a company, you've got to get everybody on the same page and you've got to be able to have a vision of where you're going. America can't have a vision of health care for everybody, green economy, regulations - can't have a bunch of piece-meal activities. It's got to have a vision.
If you don't have public hangings for bad culture in a company, if you don't take people out and let them say, they went home to spend more time with the family. It's crazy.
An organization's ability to learn, and translate that learning into action rapidly, is the ultimate competitive advantage.
What's important at the grocery store is just as important in engines or medical systems. If the customer isn't satisfied, if the stuff is getting stale, if the shelf isn't right, or if the offerings aren't right, it's the same thing. You manage it like a small organization. You don't get hung up on zeros.
I actually think that the economy has got some positives. It's got the market. It's got consumer confidence and it's got banks throwing - I mean central bankers throwing money at it around the world.