Slater’s quick read provides a nice dose of leadership principles from the former GE CEO.
- Change, before it’s too late.
- Accept change.
- Face reality. Business leaders who avoid reality are doomed to failure.
- Act on reality quickly.
- Emphasize vision, not supervision.
- Core values should be constant, but the strategies may need to change with the competitive environment.
- Give employees more responsibility, and they will make better decisions.
- Eliminate employees who do not live the company values, even if their numbers are good.
- Keep hunting for the little opportunities.
- Find and implement the best ideas, no matter where they come from.
- Think globally and locally.
- Link compensation to quality performance.
- Don’t assume the customer is as happy as you are.
- Always keep the customer as the main focus.
- Make it habit to think about your business.
- Teach your managers to manage less.
- Get out of the way.
- Even in the good times, regularly review expenses and head counts.
- Keep learning.
- Promote the three “S’s”: speed, simplicity, and self-confidence.
- Structure for smallness.
- Turn workers into owners.
- Stretch each employee to the maximum.
- Tackle quality head-on.
“Treasure and nourish the voice and dignity of every person.” – Jack Welch