According to Welch, the three tenants of good leadership include setting a vision, being direct — and making the work environment fun. In his two decades at the helm of General Electric, Welch grew revenues to $130 billion from $25 billion and profit to $15 billion from $1.5 billion. Market capitalization ballooned to $400 billion, growing by a multiple of 30.
Since retiring, Welch has launched the online-only business school, the Jack Welch Management Institute. This year, its MBA program was ranked one of the best by Princeton Review.
Your team needs to feel like the office is the "the cool kid's basement," says Welch, speaking at the Synergy Global forum in New York City. "If you have a unit, you want the six people in your unit to think they have the world by the a-- and the same thing if you have a 400,000-person GE."
That's because, "It's not about me, it's about them. The workers," Welch says. "Am I making them so excited they hate being home on the weekend — they want to be in here, working? Am I making it so much damn fun here? Am I celebrating every little victory with a keg of beer or something else?" says Welch.