Students at the Amos Tuck School of Business were lucky to find a seat in Cook Auditorium on Wednesday evening to hear Jack and Suzy Welch speak as part of the Tuck Leadership Forum's CEO Speaker Series. Jack Welch, former chairman and chief executive officer of General Electric, stopped at Tuck to promote his new book, "Winning", heralded by Newsweek as "smart, practical and not afraid to address tough subjects."
Jack and his wife Suzy, former editor of the Harvard Business Review, advised the eager business students on how to act in their future positions as managers. Jack emphasized that the transition from graduate school to the working world can be difficult because new hires must realize team success trumps individual success in the business world. In choosing a company to begin a successful career, Welch encouraged students to find a company where they feel comfortable.
"Be sure you pick a company where the sensibilities of the people are the same as yours. If you're a nerd, go hang out with nerds," he said.
To be successful in the business world, employees must work hard to earn initial recognition, according to Jack. Workers should exceed their bosses expectations, while making sure not appear overeager, he said.
"Put your ambition in your pocket, don't wear it on your forehead - it's a career killer," Jack said.
The couple spoke about the challenges of balancing their personal and professional lives as upper-level business executives. Suzy, who worked full time at the Review as a single mother of four children, found her equilibrium over time. She advises others to work hard initially in order to earn flexibility within their companies.
Concerning business strategy, Jack expressed his disagreement with "people who think it's a science." He went on to cite examples of successful small businesses he has encountered, including a pizza parlor whose strategy was developing a superior sauce, he said. During his tenure at GE, Welch cited his own strategy of candid communication within the business and among employees.
"Communications, to me, rank right up there with getting the right people," he said.
Jack Welch spent over 40 years at GE, 20 of which he served as chairman and CEO until his retirement in 2000. In 1999 Fortune Magazine named Welch "Manager of the Century". He received a record salary of $94 million a year and a record retirement-plan of $8 million a year. The married couple met when Suzy interviewed Jack for the Review. They then began an affair, which was made public and eventually cost Suzy her job and Jack his second marriage.
