Former General Electric head Jack Welch, the man Fortune magazine named "Manager of the Century," addressed a packed audience of Wharton students and Philadelphia-area business leaders at the Annenberg Center's Zellerbach Theater last night.
Wharton reserved 190 seats for a lottery open to its undergraduates and graduate students to hear Welch, who was interviewed by the president of the World Affairs Council of Philadelphia.
Welch focused his talk on his success as a leader and his impact at GE -- where he was chairman of the board and CEO -- as well as his theories on the future of business in America.
"In light of this terrible tragedy we have to be more differentiated than ever," he said. "We need leadership that makes the top calls."
In addressing the economic ramifications of Sept. 11 and the war effort, Welch adamantly maintained that the current economic downturn is only a temporary situation.
"The government role has never been more important in harnessing insecurity," he said.
Welch then proceeded to impart the values and lessons he has learned from his 20 years at the helm of GE.
"The most influential person in my life was my mother," he said. "She gave me the self-confidence to feel six foot, six-and-a-half feet tall."
According to Welch, who measures under six feet, there are two essential qualities in a leader -- passion and the ability to energize employees.
"It's our job to excite, to make their jobs the best part of their day, as well as provide them with rewards in the soul and the wallet," he said.
Indeed, Welch added that his most important job is "getting into the skin of an employee," making sure the worker knows that he cares, and in turn making the worker care.
"Human dignity translates in any language," Welch said.
As a CEO, Welch prides himself on his ability to balance business with pleasure.
"If you're not having fun and working, you've missed the whole ride," he said. "That's part of life, part of success."
Another part of success, he said, is finishing on top.
"Business is all about winning," Welch said. "A winning company gives back, and that's what's most important."
Two of Welch's "wins" at GE were globalization and technological innovation.
According to Welch, globalization is "the only shot at the have-nots getting what the haves have." He credits GE for providing jobs and increasing business awareness in India, Hungary and China.
"I've seen it change people's lives," Welch said.
In closing, Welch offered a few words of advice to aspiring business leaders.
"Never sell yourself short," he said. "Find a place you love, where you are loved back, and the money will catch up to you wherever you go."
The speech was the first part of a series on Global Business Leadership sponsored by the World Affairs Council of Philadelphia in conjunction with the Wharton Undergraduate and Graduate Divisions.
