How Jack Welch Killed Capitalism & Crushed The Soul Of America

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Have you ever pondered the repercussions of prioritizing profits over people?
David Gelles, author of "The Man Who Broke Capitalism," delves into the aggressive profit-driven tactics of former GE CEO Jack Welch and their impact.
David poses a crucial question: "While profits are essential, are you also caring for your employees in the process?"
To him, true leadership means harmoniously balancing financial success with people-centric values.
BOOKMARKS:
0:00 -- Intro
2:38 -- Introducing David Gelles and his book “The Man Who Broke Capitalism”
4:11 -- Business climate before Jack Welch became CEO
6:38 -- How Welch focused ruthlessly on short-term profits over people
9:18 -- Questioning how corporations allocate massive profits
10:55 -- Welch pioneered mass layoffs to boost margins
13:18 -- Welch turned GE from industrial company into financial giant
15:13 -- Welch's unprecedented wave of downsizing in early 1980s
16:16 -- The ripple effect of Welch's layoffs across corporate America
18:03 -- Consequences of Welch's downsizing and deal-making focus
18:51 -- How Welch proteges spread his profit-first playbook
21:00 -- Critique of Welch's deal-making acquisitions
24:03 -- How Welch neglected GE's core industrial businesses
25:06 -- The unravelling of GE's finances after Welch retired
26:28 -- Welch's legacy of destabilizing communities and workers
29:02 -- Alternatives today to Welch's profit-obsessed model
34:40 -- Comparisons between Amazon's labor practices and Welch
37:14 -- Balancing stakeholder and shareholder value
38:52 -- Rethinking the purpose and role of corporations
42:10 -- Business' role in social/political debates
46:34 -- Things to checkout and Closing
David Gelles is one of the 100+ CEOs I interviewed for my new book, Leading With Vulnerability which is coming out in October: www.amazon.com/Leading-Vulner...
#LeadingWithVulnerability #leadership #empathy #PeopleFirst #PeopleOverProfits
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Jacob Morgan is a keynote speaker, best-selling author, and futurist. He explores how the world of work is changing, what the future of work is going to look like, and we need to do to prepare. To work with Jacob or have him speak at your event visit TheFutureOrganization.com