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May 30, 2021

Lessons from Jack Welch: For students pursuing a business management degree

Named the ‘Manager of the century’ by Forbes, Jack Welch is an inspiration for many across the world. He led General Electric to its iconic status. During his tenure, GE’s revenue more than quadrupled. Many of his management and leadership strategies became so successful and popular that other companies too started following them. As a student of business management degree if you are looking for inspiration, look no further than the life of Welch. Here are some important lessons that you can learn from Jack Welch: 


  • Ask the important questions: If there’s one important thing that you should learn from Welch is that he asked questions as he wanted to absorb as much information as he could. He did that by asking the right questions. Heralded as one of the greatest leaders of his era, Welch many times was quoted as saying that every conversation about every decision should be “filled with ‘What if?' and 'Why not?' and 'How come?”. 


  • Inspire followers: In the bestseller book ‘Winning’, Welch has shared many management pieces of advice and one that stands out is --- inspire followers. Welch instilled confidence among people who worked with him by embracing risks and learning. Leaders, he believed, should encourage others to take initiative without being afraid of mistakes. 


  • Set priorities, reset them: Where do you see yourself in the next five years? -- This is one question that you as a student of business management will answer at different points in your life. But do you know that Welch actually did five-year planning where he would set three priorities and work on them? Every five years, he would revisit those priorities and re-evaluate them. This kind of resolute requires not just focus but also farsightedness. This kind of approach requires you to develop focus and flexibility. Focus to withstand hiccups that you may encounter during your journey and flexibility to make quick decisions. 


  • Get good ideas from everywhere: For businesses to run and succeed, ideas are important. He believed that one should get good ideas from everywhere and put them into action. He said that the real game-changer is who has the best idea and who waited too long to improve it. 


  • Never stop learning: Today, GE is known for its amazing learning culture thanks to Welch. One should continuously learn from any source, anywhere, believed Welch. Continuous learning is something that is crucial to success. As a student of management in this ever-changing world, to climb up the corporate ladder, continuous learning is essential. 


If you are looking for an institute of business management, try applying to the Unitedworld School of Business (UWSB). We offer a 3-year BBA (Hons.) program with a wide range of specializations. At our institute, you will find innovative teaching methods, tailored study support, award-winning courses and world-class facilities. The BBA course structure is extensive and covers all aspects of business management to provide students with multi-faceted knowledge.