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Hi, need to submit a 250 words paper on the topic Restructuring Business: General Electric Company.
Hi, need to submit a 250 words paper on the topic Restructuring Business: General Electric Company.  .The second step was that he brought forth early wins which were evident and visible to all employees of the company. This included a reduction in a number of hierarchies and introduction of two initiatives which particularly aimed at bringing openness, simplicity, self-confidence, and increasing operational speed.
The next step was to develop ownership amongst the employees. For this, he developed an initiative called “work out” which created space for open interaction with different level of employees. Thus he ensured that the company had a strong foundation before further global expansion. Moreover, every employee felt connected with every management policy and action.
Fourthly, Welch incorporated wins easily to achieve with the least capital. This included the policy that every GE initiative must acquire a number one or 2 positions in the market or else fix it, sell it, or close it. The sale of non-performing initiatives created capital for further investment amounting up to $21billion.
He abolished the strategic planning system and established a real-time planning process which involved fourteen key business heads occasionally developing competitiveness strategies.
