MARCH 2020 / NO. 1
TAGS: JACK WELCH, GE, WAL-MART, EXECUTIVE BOARD, QMI
What is Quick Market Intelligence?
“An organization’s ability to learn and translate that learning into action rapidly, is the ultimate competitive advantage”
“If the rate of change on the outside exceeds the rate of change on the inside, the end is near”
“Number one, cash is king … number two, communicate … number three, buy or bury the competition”
All the quotes in this intelligence briefing come from Jack Welch, who died early March 2020. He was CEO of GE from 1981-2001, growing GE’s market value from US$ 12 to US$ 410 billion. Jack Welch was a white-collar revolutionary, championing radical change and smashing the complacency of the established order. He not only changed GE, but also changed USA corporate ethos, one that prizes nimbleness, speed and regeneration over older ideals like stability, loyalty and permanence.
Strategic Intelligence in GE – lessons from Wal-Mart
It was Jack Welch personally who introduced strategic intelligence in GE in 1991. Sam Walton, founder of Wal-Mart, informed Jack Welch how strategic intelligence successfully has been established within Wal-Mart. The key success at Wal-Mart was the meeting of the 200 regional sales managers with the Executive Board, every Friday morning from 08.00-10.00am, 52 times year round. Jack Welch was so impressed that he also established strategic intelligence within GE also directly aligned with the Executive Board and positioned these intelligence activities as QMI, Quick Market Intelligence. The leadership team of QMI delivered the strategic insights & foresight and courses of action for many years at GE’s Quarterly Strategy Review meetings with the GE top 200 executives.
Do you know a company where the top sales guys meet with the Board every Friday morning at 08:00am, 52 times in a row, year-after-year?
“If you don’t have a competitive advantage, don’t compete”
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