12. Jun, 2017

“What’s the best management advice you ever received?”

With Jeff Immelt stepping down as General Electric CEO (http://www.genewsroom.com/press-releases/john-flannery-named-chairman-and-ceo-ge-283823) after 16 years today, Fortune Magazine did post a short interview with him at http://fortune.com/2017/05/19/jeff-immelt-general-electric-next-ceo-best-advice/. Besides some interesting information, he also shares his best management advice that he got from Warren Buffet:

"Never confuse tailwind with good leadership - Be suspicious when times are good, be supportive when times are bad." Jeff Immelt

In relation with the Fortune 500 list for 2017 (http://fortune.com/fortune500/) there was a poll with the CEOs. Among the questions they asked the chiefs was: “What’s the best management advice you ever received?” My small selection from the Fortune selection below:

  • “Out-dream, outthink, outwork”
  • “Focus on your team”
  • “Speak less—listen more”
  • “Highs are never as high as they seem; lows are never as low as they seem”
  • “Always start with the consumer”
  • “Never assume competence”
  • “Think 10X not 10%”
  • “Think like an owner”
  • “Surround yourself with people more capable than you”
  • “Stay focused”
  • “Do what’s right”

I think it's very important to have a feedback loop, where you're constantly thinking about what you've done and how you could be doing it better. I think that's the single best piece of advice: constantly think about how you could be doing things better and questioning yourself. Elon Musk, Tesla CEO - Born: June 28, 1971