Even the most fearless leaders have something in common with your average five-year-old. When they make a mistake — whether it's spilling juice on the carpet or releasing a product that's a complete flop — their natural impulse is often to protect themselves by placing the blame elsewhere.
Industrial conglomerate General Electric announced it would be unloading most of its GE Capital assets, the business involved in financing many of the products the company sold. Among other things, GE announced it would sell approximately $26.5 billion worth of real estate.
General Electric’s Jack Welch. Research in Motion’s Jim Balsillie. And Wall Street investment banker Jamie Dimon of JPMorgan Chase. They are all superstar figures, known as much by name as for their business prowess. As chief executives they shaped corporate agendas and created a cult of personality that transcended their companies.
Few business leaders are as revered and renown as Jack Welch. As CEO and Chairman of General Electric, he led and mentored many young managers, many of whom would go on to lead their own companies. Among them was Doug Mack, CEO of One Kings Lane. Jack Welch taught him that "empowered organizations are the most successful and scalable." Watch below Mack reveal the key strategy lessons he learned from Welsh.