How Jeff Immelt Lead General Electric Through 9/11 & 2008 | The Knowledge Project 116

Crisis Leadership

Jeff Immelt shares his experience leading General Electric through significant crises, including 9/11 and the financial crisis. He describes the intense pressure and uncertainty during these times, emphasizing the importance of perseverance and adaptability. Immelt notes that the hardest part was the financial crisis, which he describes as a period of sheer fright, lasting 60 to 90 days 1. He explains that maintaining a sense of normalcy and forward motion was crucial, as canceling meetings could signal panic to employees 2.

I always got energy off of forward motion. So I didn't want to have 1000 meetings in headquarters. I wanted to go out and do a town hall in Cincinnati or Atlanta and hear what's on employees' minds.

--- Jeff Immelt

Immelt also highlights the challenge of following a successful leader like Jack Welch, noting the need to adapt to a more global and technical environment 1.

   

Decision Making

Effective decision-making under pressure is a key theme in Jeff Immelt's leadership philosophy. He stresses the importance of having the right metrics, a knowledgeable team, and the confidence to make decisions, even when some may be wrong 3. Immelt believes that progress is more important than perfection, and leaders must be willing to make clear decisions to move forward. He also emphasizes the significance of timing, sharing that being ahead of the curve can be both beneficial and challenging 4.

I think progress is more important than perfection. You don't make progress unless you make decisions.

--- Jeff Immelt

Immelt advocates for transparent decision-making in large meetings to ensure diverse perspectives are considered and to foster understanding among team members 5.

   

Team Management

Jeff Immelt discusses the importance of team management and motivation during crises. He highlights the role of confidence, which stems from experience and pattern recognition, in making decisive actions 6. Immelt shares a personal anecdote about receiving tough feedback early in his career, which taught him the value of team play and humility 7.

There's nothing that makes a team crazier than repetitive analysis with no action.

--- Jeff Immelt

He also emphasizes the importance of learning from failure and perseverance, drawing parallels between military history and business strategy. Immelt encourages leaders to engage with their teams and understand their perspectives to drive better outcomes 8.