Was It Always This Way?
General Electric’s CEO is trying to stop infighting between divisions and to focus the corporation on quality and management. The question arises whether it was always this way, even under the legendary Jack Welch? A company that is turning out profits can cover a lot of sins. When the money machine stops, all sorts of problems surface and a vaunted management style is found wanting. One can point at Jeff Immelt and say he wrecked the company during his tenure as CEO and chairman, but that would be too easy. Welch left a company that was overly dependent on its finance division, which ran aground during the meltdown of 2008/2009. Today, GE is a shadow of its once greatness. Larry Culp has set goals for its slow turnaround, but there is little chance that it will regain its reputation for greatness, and the publicity surrounding its decades of past success now rings hollow. Sic transit….
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