教材選用奇異機構網路籌劃現況教學
CEC Update now available in major locations
This informative Webcast features CEO Jack Welch and Vice Chairman Dennis Dammerman in a sit-down discussion from Crotonville.
The 12-minute Webcast includes:
Review of GE's First Quarter
Performance
E-Business and its impact on GE
The need for speed and performance in a "New World
Economy"
The Webcast is now available to Power Systems employees in the following locations:
Atlanta, Bangor, Greenville, Houston, Belfort, Florence, Melbourne, Schenectady, San Jose
and Wilmington.
Employees with webcast capable PCs can view the CEC Update at PSBN Today at
http://nyschi21psge.sch.ge.com/psbn/webcast/
In addition, a full transcript is below for employees who are unable to view the webcast.
GE Webcast 3.0
March 15, 2000
Jack Welch.
Hi. This is Jack Welch. I'm here with Dennis Dammerman to chat with you about our first
quarter CEC that we just completed. It was an exciting two days. In the 20 years I've been
in this job I've never seen the company performing at the levels it is today. It will be
an exciting year for us.
The world is talking about new economies and old economies and things like that and I'll
tell you one thing - this company is moving rapidly to capture the benefits of a new
economy. And last night we had a terrific presentation from John Chambers of Cisco. I
thought I'd ask Dennis to comment, if he would, about his thoughts on that.
Dennis Dammerman
Well, you come away with a lot of thoughts after listening to John talk. But you know, one
of the things that kept striking me as we went through it is you've said many times, and I
think we've all observed many times, that the one common element among truly great
companies is that they're customer-centric. And John just showed that so many times in his
remarks last night. In fact, I think if you put it all together you'd probably conclude
that he's changed his whole
business model about three times because of input he's had from customers. And I just came
away with that impression so clearly that it just reminds us once again that we have to
put the customer at the center of everything we do.
Jack Welch
Yep, no question. And I think that e-business gives us this opportunity. We had, just to
give you a rundown briefly on the businesses, we're having very strong operating
performance from across the businesses. We've got Power Systems just knocking it out of
the park with great orders and great execution. Medical Systems bringing out new products.
Aircraft Engines - spectacular job here of new orders in the 777. And so we've had a
number of new products. GE Capital,
across many businesses is doing well. Appliances - Larry Johnston's put an energy level
into Appliances that's palpable and you felt it here at this meeting. And the whole team -
I don't mean to single out any one business because I've never seen the company operating
at levels that it is today and we're really proud of the two-day session we had.
And Dennis, you might comment on some of the things in GE Capital.
Dennis Dammerman
Well, we're having a great quarter and very fortunate that we've got a number of
extraordinarily strong businesses with Global Consumer Finance being very strong, our Card
Services business is very strong, our middle market businesses like Commercial Equipment
and Vendor are strong, Commercial Finance is having a great quarter, Mortgage Insurance is
having a very strong quarter. Our equity group is having a great quarter - I mean so
strong for example that we're
able to take some of those gains and use them for restructuring, if you will, ERC's
investment
portfolio so that we can produce more earnings in the future years. So it's great to see
the
across-the-board strength that we have in so many businesses.
Jack Welch
You know, one of the dangers in these reviews we have with you in this short period of
time is that we talk enthusiastically about one, two, or three businesses and we may leave
one out. I can tell you right now that across the board all of our businesses in Capital
and everywhere else are really delivering at incredible levels. And so Dennis or myself
don't feel in any way . . . I hope we haven't slighted anyone by not referring to them.
We had a fun night on Tuesday night. We said good-bye, not good-bye forever but good-bye
for now, to our friend John Opie who retired from the company as vice chairman after 30+
years of great service, and a friend and mentor to so many of us. John's contributions
were part of a great roast we had about his bullet trains and all his other attributes,
but most of all about his generous
giving and his selflessness about his performance here in the company - always giving
others
credit.
Dennis Dammerman
One of the things that we did that was so exciting was that as you look around the room
and you look at the people that John has touched in an important way - and there were
many, many people in that room who couldn't say enough things about how John had made a
real difference in their lives - not just their careers but their lives. And it was a real
tribute to somebody we're going to miss a lot.
Jack Welch
Dennis and I wrapped up today's meeting after two days and talked a lot about e-business,
reflecting somewhat on John Chambers' comments, reflecting on the comments of all of our
teams that talked about their meeting. If there's anything, few points that came across
here in this, I'd like to just run down a couple of them.
One is reality. Every business in this company has to face the reality that this economy
is forever changing. Winners and losers are going to be more clearly defined. And it's all
about taking the offense. It's not about being defensive in this change. It's all about
grabbing the ball and running with it. So face reality. You can't hold on to what you do
anymore. You can't do it the old way. Paper is out, speed is in. You can't do it too fast.
You've got to err on the side of speed. Speed, speed, and more speed. No matter how much
we try, we're not close to an Internet speed yet. And so we talked a lot about that at the
conclusion of the meeting. We talked about putting things in buckets - buy, more options,
quantifying the options, quantifying the savings - about productivity, about doing
everything in totally different ways. Not taking resumes on paper. Putting online so
people can apply online for us. About productivity across every element of our
manufacturing and our processing businesses. So we talked about quantifying that with
e-business savings. We talked about getting people who are transferring information to
other people out of the way - aggregators of information in our company and going faster
directly from the information to the people that use it. So there's an enormous chance for
us to speed this thing up.
And then we talked about on the sell side, how much are we selling online? What
share gains are we getting? What efficiencies are we getting? We're going to start
measuring that in our businesses weekly. We're going to be getting reports to the whole
CEC on metrics around these things because we are going to, as fast as we've been going,
we've got to go 10x that. And so that's what we're committed to doing as we leave here
today.
And Dennis, you might have some thoughts on it.
Dennis Dammerman
Well, Jack, it's hard to follow that one but the thought of the constant focus of once a
week knowing that we're going to send, the top 20 businesses are going to send around a
set of six or seven metrics to everyone on the CEC is going to have a powerful influence
on the way we think and act every single day. And we know that not only is that going to
have an influence on them, they're going to in turn influence all of their associates. And
sometimes not always gentle
ways but that influence will be there and progress and speed will become a reality.
Jack Welch
And I know many of you and probably all of you have a stake in GE, whether through and
S&S plan or another program and this is really a pocketbook issue for everybody here.
We're selling at a 40 multiple. We cannot have meetings where we ever talk about how are
we doing against our competition? That's not our measure. How are we doing against the
best in class in Internet world? How are we doing in terms of speed against them? Because
our competition is selling at price to earnings multiples of 15, 16, 17, 18, 20. We're at
40. Now, we'd like to be at 60, 70, 80, or 100 like Internet companies. So we can't
compare ourselves in any way to our traditional competitors. We're a new economy company
playing in a new world and we've got to get everybody in this company to understand that.
And we've got to get e-business to overtake the existing businesses, to break down the
silos, to break down all the things that slow us down, to get rid of the paper, to get rid
of any funnels and just get us and our customers there.
Dennis, you might comment on the fact of how well prepared we are if we can pick up the
speed in e-business because of six sigma.
Dennis Dammerman
Well, that is another thing that came across as the discussion was so rich over the last
two days and we saw time after time, example after example, as the business leaders
discussed their drives for customer centricity that I think, as Dennis Naden put it, six
sigma is the hand inside the e-commerce glove. I mean, they are so closely tied and it's
because of what we've done with six sigma that we are in a better position than anyone to
bring fulfillment in a high value way to
every one of our customers.
Jack Welch
If I had one message to leave for you here, I'll tell you
what it is. It's e-business is the greatest opportunity and the biggest challenge this
company's faced in its 115+ years. It's going to be the greatest journey you ever took.
It's the most exciting, exhilarating thing that any of us have touched. And anybody that
isn't on the train and moving out faster than they've ever thought possible will be left
at the station because this company is transforming itself and there'll be no
discussions about old economy and new economy in this company. This company is all about
new economy. It's going to be a great quarter. Dennis and his team at Capital are
delivering great results. And the businesses across the company are delivering great
results. And you will see a pickup in e-business that will make what we already have done,
which is great, look slow compared to what we'll look like in the next 90 days.
So thanks so much for taking the time to look at this. Congratulations on a great quarter.
And get on this fast train that's taking us rapidly to a new economy world.
End of Webcast 3.0 Program
This is what the Dalai Lama has to say on the Millennium:
INSTRUCTIONS FOR LIFE
1. Take into account that great love and great achievements involve great
risk.
2. When you lose, don't lose the lesson.
3. Follow the 3 Rs: Respect for self, Respect for others and Responsibility
for all your actions.
4. Remember that not getting what you want is sometimes a wonderful stroke of
luck.
5. Learn the rules so you know how to break them properly.
6. Don't let a little dispute injure a great friendship.
7. When you realise you've made a mistake, take immediate steps to correct it.
8. Spend sometime alone every day.
9. Open your arms to change, but don't let go of your values.
10. Remember that silence is sometime the best answer.
11. Live a good, honourable life. Then when you get older and think back, you'll be
able to enjoy it a second time.
12. A loving atmosphere in your home is the foundation for your life.
13. In disagreements with loved ones, deal only with the current situation.
Don't bring up the past.
14. Share your knowledge. It's a way to achieve immortality.
15. Be gentle with the earth.
16. Once a year, go some place you've never been before.
17. Remember that the best relationship is one in which your love for each
other exceeds your need for each other.
18. Judge your success by what you had to give up in order to get it.
19. Approach love and cooking with reckless abandon.
By the way, today is 15th of Feb, (Full Moon night).
Subject: Words of Wisdom
This is what the Dalai Lama has to say on the Millennium:
INSTRUCTIONS FOR LIFE
1. Take into account that great love and great achievements involve great
risk.
2. When you lose, don't lose the lesson.
3. Follow the 3 Rs: Respect for self, Respect for others and
Responsibility for all your actions.
4. Remember that not getting what you want is sometimes a wonderful stroke
of luck.
5. Learn the rules so you know how to break them properly.
6. Don't let a little dispute injure a great friendship.
7. When you realise you've made a mistake, take immediate steps to correct
it.
8. Spend sometime alone every day.
9. Open your arms to change, but don't let go of your values.
10. Remember that silence is sometime the best answer.
11. Live a good, honourable life. Then when you get older and think back,
you'll be able to enjoy it a second time.
12. A loving atmosphere in your home is the foundation for your life.
13. In disagreements with loved ones, deal only with the current situation.
Don't bring up the past.
14. Share your knowledge. It's a way to achieve immortality.
15. Be gentle with the earth.
16. Once a year, go some place you've never been before.
17. Remember that the best relationship is one in which your love for each
other exceeds your need for each other.
18. Judge your success by what you had to give up in order to get it.
19. Approach love and cooking with reckless abandon.
By the way, today is 15th of Feb, (Full Moon night).