"Welch sits on no outside corporate boards and devotes virtually all his energy to running GE."
It can be said that sitting on boards could lead to making deals and connections which could lead to more business, it can also be a distraction. In this sense, it's two important aspects of business success competing against one another. When taking into account Welch's achievements at General Electric (GE), I would have to say his singleness of focus and commitment to GE was more important that sitting on other boards.
The other thing is success in business will always open more doors for us than we could ever possibly walk through. So sitting on boards of other companies, while still running a business is probably more counter-productive than helpful.
I think the real reason many people sit on company boards is for prestige and ego, more than adding any value to a company.
To me the key in business success is the laser-like focus and commitment of our whole energy to making the business go. Anything that distracts us from that in business should be let go.
Welch is one of the greatest, if not the greatest business leader of all time. The fact that he chose to focus solely on making General Electric a great company, reveals that this type of singularity of focus is crucial to business excellence and growth.
If you've ever studied, met or listened to Welch, you'd know he lived and breathed General Electric. How he grew the company while he was there, while at the same time preparing it for the future, is unique in business history.
The key was his unmatched devotion to making the company the greatest in the world. I think he succeeded.
Other Jack Welch Resources:
Jack Welch's advice to MIT Sloan students
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