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G.E. ... the house that Jack built. I've admired Jack Welch for decades, as have thousands, if not millions. One of the most powerful and successful CEO's of all time, the way he built General Electric during his tenure was awe inspiring.
One of his steadfast principles was his ten percent rule, which was to always be looking to replace the bottom ten percent.
Far be it for me to criticize "The" Jack Welch, but I've always had a problem with that. Sure ... in a context it makes sense, but what about those companies who have put together a group of employees who excel? Surely the intent wasn't to catch someone doing something wrong in order to meet a quota of replacing the bottom ten percent.
So, obviously Jack didn't need my advice as he steered one of the largest and most profitable iconic organizations in the world. But here's where he got it wrong. You see, I don't own a single G.E. product. Not an appliance, electronic device, extension cord nor power outlet. Not even a light bulb. Not that I'm intentionally boycotting anything, I just have not been made to be a raving fan. Apple got me. Starbucks got me. Most recently Flex got me. But while G.E. built an empire and in the process they dismissed talent that could have excelled elsewhere they forgot about me.
Again, I know G.E. isn't staying up at night worrying about me. If anything they're busy stacking up their gazillions of dollars in sturdy silos. And that's okay.
If you'll excuse me, I've got to get a drink out of my Westinghouse fridge.