The Man Who Broke Capitalism
How Jack Welch Gutted the Heartland and Crushed the Soul of Corporate America—and How to Undo His Legacy
by:
David Gelles
Summary:
The book critically examines the tenure of former General Electric CEO Jack Welch, arguing that his management practices prioritized short-term profits over long-term sustainability and employee welfare, leading to detrimental effects on the American economy and workforce. It also explores the broader impact of Welch's strategies on corporate America and offers insights on how to move away from such destructive business models.
Key points:
1. Jack Welch's Management Philosophy: The book examines Jack Welch's focus on cost-cutting and shareholder value at GE, which boosted short-term profits but is criticized for harming long-term growth and workers.
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