Under Jack Welch GE was the gold-standard for corporate performance and management practices. It routinely appeared at the top of the lists of the Largest, the Most Admired, and the Most Profitable companies. Then, his hand-picked successor led it to ruin.
Is Immelt’s failure a reflection on the management training system Welch instituted and made famous?
Does the hiring of an OUTSIDE CEO (the first in company history) reflect on Welch or Immelt? Is it further evidence that the Welch system was flawed or did Immelt gut/destroy/burn down his predecessor’s legacy?
What does the crash of GE say about business journalism? Did they over-praise Welch? What did they miss about Immelt and his strategies?