The Real-Life MBA

February 9, 2015
Business is the ultimate team sport, or so say the Welches, he the former chairman and CEO of General Electric, and she the former editor of Harvard Business Review. Together, they attempt to offer the “best learn-it-today, apply-it-tomorrow techniques,” though the result comes up short. They divide the book into three sections, addressing company operations and organization, team-building and leadership, and career management. Starting with a look at how companies should operate, they explain how to align “mission, behaviors, and consequences”; rebound from losses; and stimulate growth. They also explore ways to think about two potentially sticky areas—marketing and finance—and to deal with crises. The Welches’ leadership theory centers on the soft side of being in charge—namely, being truthful and building trust with subordinates. They also offer a career-assessment process called the Area of Destiny, in which you imagine your life as two superhighways, one for your passions and one for your skill set, and envision where these two highways intersect. It’s rather cheesy, very oversimplified, and, unfortunately, typical of the book as a whole. Though there are a few nuggets of wisdom here to extract, readers will have to dig deep for them, and may not find it worth the effort.

February 15, 2015
A solid framework on how business works and how to be part of the game. Drawing on decades of experience running a business, the husband-and-wife Welch team (Winning, 2005, etc.) has compiled their advice into a no-nonsense guide for anyone who wishes to learn more about the multifaceted aspects of building and maintaining a flourishing work environment. "This book is actually for anyone and everyone who is looking for a down-to-earth, no-BS primer on the big ideas and the best learn-it-today, apply-it-tomorrow techniques of an MBA," they write. Starting with a generous explanation of what the business "game" is all about, the Welches examine the ways companies, both large and small, must organize in order to operate fruitfully in an increasingly global, highly competitive marketplace. By creating a mission statement, with employees embracing "behaviors" that promote the company mission, by communicating on a regular basis with employees and providing regular feedback on an employee's performance, by sweeping away obstacles that hinder individual productivity and by making work fun, the Welches promote the idea of a flexible, forward-thinking company. The authors also explain the appropriate way to handle a crisis, which can spread like wildfire thanks to the speed of the Internet; how to build strong leadership based on truth and trust; the methods for finding the right employee for the right position, even if it means firing everyone and starting over from scratch; and how to use unusual resources such as IT geniuses, freelancers and contract workers to fill positions. They also show how to squelch those who drain the company of resources, time and energy. The authors' positive attitudes and enthusiasm to share their expertise dominate the text, and these are coupled with numerous real-life examples of business practices that worked and those that didn't. A practical and multilayered guide to running a company effectively and profitably.

May 1, 2015

Since 2005's Winning, coauthors Jack (former CEO, General Electric [GE]) and Suzy (former editor, Harvard Business Review) worked with entrepreneurs around the world, consulted with numerous established and start-up businesses, and spoke to hundreds of attentive audiences. They also started a fully accredited online MBA program that has 1,000 enrolled students. The resulting book summarizes what the Welches learned and expands, updates, and augments the principles and practices shared in Winning. Their goal this time is to provide a practical primer on the big ideas and best applicable business techniques that can serve as a relevant supplement to an MBA, while emphasizing the practical reality of running a business in today's global environment. Chapters cover ways in which companies should organize and operate to win in the marketplace, the new model of leadership that builds and supports successful teams, and helpful advice on career development. Jack Welch's well-known frank approach shines with his direct explanation of how to deal with everyday dilemmas involved in running a business, including the daily grind, a frenzied boss, and supporting teams with low morale. VERDICT Welch's respected story of growing GE from a market capitalization of $4 billion to nearly half a trillion dollars will help connect this work with business leaders and entrepreneurs. The section on life and job balance is of value to anyone and even adds refreshing new ideas to the saturated career development genre. Highly recommended for all business collections.--Dale Farris, Groves, TX

Copyright 2015 Library Journal, LLC Used with permission.

April 1, 2015
It's the second Jack and Suzy Welch show, coming a decade after Winning: The Answers. In a decidedly easy-breezy way, they give much credence to old and new business advice, from leadership and hardships to marketing and building a WOW team. No rocket science offered here, just a plethora of smart, folksy advice (plucked from their careers and others'), and lots of relevant contemporary examples. Take the subject of alignment, which is the first chapter. Instead of mumbo-jumbo, they get right to the point: It's about mission (the company's destination), behaviors, and consequences. To underscore their definition, Nalco (the water company) and Nielsen act as case histories: how both were languishing until two astute CEOs identified the magic and reenergized products and people around the journey. Every likely business topic is examined at a high level, principles teased out, and learnings shared. Old and new knowledge is celebrated, including the five Ps of marketing, elements of crisis communications, and, perhaps most poignantly, the answers to, What should I do with my life? Not exactly a real-life MBA; rather, a collection of business wisdom.(Reprinted with permission of Booklist, copyright 2015, American Library Association.)