Above all else, he's a fierce believer in the power of his people
There is nothing that Jack Welch did half way. When it came to his people, he had a strong, fierce belief in their power to do the job and they responded to that belief.
Some people like to do the Jack is bad thing, just because he was strong in most of his opinions he had, and probably stepped on a lot of toes in his life (I'm sure at times it went overboard), but that doesn't take anything away from the results he achieved and the greatness of the execution in the businesses that his people 
achieved.
It all came from believing in them and their abilities. Welch and General Electric (GE) were legendary in their ability to pick great people for the jobs that needed to be done, and training some of the best business managers in the world.
Think of what it meant to his people when he showed them how he believed in their abilities to get things done. The success of his managers show that it was something that propped them up and prompted them to reach even greater heights.
He understood that no man is an island, and that true business leadership success resides in the people in the company. He just had that belief perhaps as strong as anybody in American business history. His belief was real, his people responded and the results confirmed his belief. The rest has been history.
Other Jack Welch Resources:
How Jack Welch Runs GE
Jack Welch Defends
Jack Welch's advice to MIT Sloan students
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