https://www.google.com/amp/s/www.yahoo.com/amphtml/finance/news/charlie-munger-part-ges-problem-promotes-executives-010000297.html
I have agree the current leadership is not making changes all they do is continue cover the audit red flags. Good ole boys and girls network. Bring some outsides to shake things up!
"But then, the GE culture is not much different from that of any other major corporation. It's human nature. "
Spot on. There's always something to b--ch about no matter where you are. GE had a CEO that made every decision two years too late and now has found itself in dead markets. That's not middle management's fault.
I can't remember who I first heard this analogy from... But sometimes what a company needs is for their leaders to "plant fruit trees" vs. "plant flowers". Meaning: it takes 5 years for a fruit tree to start producing...but then can produce for 100 years. Flowers offer quick pleasure but are gone the next year.
When a leader is only in place for a 2-year rotation, what's the incentive to plant trees? This culture ensures a never-ending string of short-sighted actions.
This would be you DJ, CC, SS, RS, and all the other a _ _ kissers who have been moved around without doing anything.
My first reaction to what I have seen at GE would be to say that because of its culture promoting backstabbing incompetent climbers, this company is doomed. But then, the GE culture is not much different from that of any other major corporation. It's human nature. Look at the government and politicians, same stuff all around... Scum raise to the top naturally when you put things in a pressure cooker. So perhaps even with incompetent powerpoint heroes at the upper management, GE still stands a chance?
The Greenville good ole boy network is unbelievable. GE needs to destroy this network.
Punch your ticket. Do your tour of duty. Move on and up. Leave your mess for the next one. Understand it well.