Current issue of Fortune, August 7, 2006 on the new rules of business. It is available on the www.fortune.com as well.
We did a presentation session on The Welch Way, 24 lessons on Jack Welch's management philosophy 3 years ago in our team meeting. Fortune is discovering new rules in today dogs-eat-dogs world of business. Are the 24 lessons of The Welch Way obsolete? The new rules makes a lot of sense. Here we go...
Old Rule: Big dogs own the street
New Rule: Agile is best; Being big can bite you
Old Rule: Be No. 1 or No. 2 in your market
New Rule: Find a Niche, Create something new
Old Rule: Shareholders Rule
New Rule: The Customer is King
Old Rule: Be Lean and Mean
New Rule: Look Out, Not In
Old Rule: Rank your players; Go with the A's
New Rule: Hire Passionate People
Old Rule: Hire a Charismatic CEO
New Rule: Hire a Courageous CEO
Old Rule: Admire my Might
New Rule: Admire my Soul
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