"An organization's ability to learn, and translate that learning into action rapidly, is the ultimate competitive advantage."
There is no doubt that Jack Welch was right in what he said then, and is still right today. Both execution and a learning organization remain two of the most important qualities of a successful business.
The one thing I think going ahead into the future which will become more and more a competitive advantage, is the learning or training area. We must understand that learning is both intellectual and practical. While both are important, it's those with the most practical skill that will prevail in the marketplace.
With that in mind, I think we're only at the beginning of the powerful advantage that training presents within our businesses.
Most of us know the fast changes happening around us make it imperative we have ongoing training; that's pretty much a given. But I'm thinking a little more than barely keeping up with changes. That's only represents the cost of really being in the game.
Notice Welch's comment on it's the "organization's ability to learn" first, that is crucial. If all we do is train for information, we'll always be on the back side of the desert as far as our training goes. While that's obviously important, information is, and will continue to be - neverending.
What Welch and I am thinking of concerning learning is imparting to our people the love of it, and how to continue to do it effectively.
Getting past the informational part of learning, it's the practical application part that will be the real differentiator. Getting the right information and correctly interpreting it will be a part of any great business. It's putting that information into practical execution that is still the key to its value. That's the type of training that will be the difference between fair and great companies in the years ahead.
Other Jack Welch Resources:
Jack Welch's advice to MIT Sloan students
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