Edit Essay Example | Topics and Well Written Essays - 250 words - 1

Edit - Essay Example The second step was that he brought forth early wins which were evident and visible to all employees of the company. This included reduction in number of hierarchies and introduction of two initiatives which particularly aimed at bringing openness, simplicity, self-confidence, and increasing operational speed. The next step was to develop ownership amongst the employees. For this he developed an initiative called â€Å"work out† which created space for open interaction with different level of employees. Thus he ensured that the company had a strong foundation before further global expansion. Moreover, every employee felt connected with every management policy and action. Fourthly, Welch incorporated wins easy to achieve with least capital. This included the policy that every GE initiative must acquire a number one or 2 positions in the market or else fix it, sell it, or close it. The sale of non-performing initiatives created capital for further investment amounting upto $21billion. He abolished strategic planning system and established a real time planning process which involved fourteen key business heads occasionally developing competitiveness strategies. These served as wins that speak to powerful players to receive their