Jeff Immelt and the New GE Way: Innovation, Transformation and Winning in the 21st Century »

David Magee is the author of How Toyota

Became #1; Turnaround: How Carlos Ghosn

Rescued Nissan; The John Deere Way; and Ford Tough. His books have been

reviewed in The Wall Street Journal, The Harvard Business Review, and Newsweek.

When it was announced in late 2000 that Jeff Immelt would be taking the helm of GE, some skeptics were quick to voice their reservations about the future of the company after Jack Welch. Not only were Welch's shoes particularly large ones to fill, but the economy was dallying with recession, China and India were taking their first giant steps into the global economy, and just four days into Immelt's tenure came the biggest game changer of all: 9/11.

The hand-wringing, it turned out, was all for nought. During Immelt's first seven years on the job, GE's revenues increased by more than 60%, its profits doubled, and the company solidified its status as the world leader in technological innovation.

Written with the full cooperation of Immelt and GE senior executives, Jeff Immelt and the New GE Way tells the amazing story of how Immelt defied the skeptics and successfully reengineered one of the world's oldest and largest global conglomerates to meet the challenges of the 21st century. It offers an unparalleled opportunity to learn how it's done from a master, detailing the trendsetting innovations Immelt pioneered that have made his vision a reality, including:

• Mandating non-stop, company-wide innovation
• Making customers partners in growth through Customer Dreaming Sessions
• Developing region-specific products and services
• Partnering with the most promising new-technology upstarts
• Going green with a hugely successful Ecomagination initiative
• Fostering a non-stop learning environment

The critics were right: Jeff Immelt is no Jack Welch. Just as Welch embodied corporate leadership for the closing decades of the 20th century, Immelt has come to personify the 21st century CEO. As Esquire magazine said when it named him one of The 75 Most Important People of the 21st Century: “The day will come, when GE chairman and CEO, Jeff Immelt, will be viewed as the prototypical leader for the new century.”

David Magee is the author of How Toyota

Became #1; Turnaround: How Carlos Ghosn

Rescued Nissan; The John Deere Way; and Ford Tough. His books have been

reviewed in The Wall Street Journal, The Harvard Business Review, and Newsweek.

Introduction 1

Chapter 1 Following a Leader 7

Chapter 2 Confidently Seize Opportunity 17

Chapter 3 Strength in Crisis 39

Chapter 4 Appearances can be Deceiving 47

Chapter 5 Understand Context 61

Chapter 6 Cultivate Big Ideas 77

Chapter 7 Invest in Innovation 97

Chapter 8 Use Your Ecomagination 111

Chapter 9 Maintain Core Values 133

Chapter 10 Make Growth a Process 153

Chapter 11 Create a Learning Environment 167

Chapter 12 Find the Future 177

Chapter 13 Plant Many Seeds 195

Chapter 14 Find Opportunity in Adversity 209

Chapter 15 Leadership for the New Century 229

Afterword 235

Appendix A GE's Growth as a Process Chart 239

Appendix B GE's Operational Excellence Chart 241

Appendix C Career Timeline for Jeff Immelt at GE 243

Appendix D GE's Results Under Jeff Immelt (2001-2007) 245

Appendix E GE's Leadership History 247

Notes 251

Acknowledgments 257

Index 259