Jack Welch: Annual Letter to Shareholders

A Student's Guide to Essential Primary Sources
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Abstract

Strategy evolution: Over the past three years, in this discussion of our strategy, we've talked about accelerated technological and market change in an era of slower worldwide growth and greatly intensified competition. In such a world, winners and losers are clearly more definable. You're either the very best at what you do, or you don't do it for very long. That's why General Electric formulated a strategy to become the most competitive enterprise in the world by being number one or number two in market share in every business we are in.

Today, this strategy has evolved to where we are focusing on being number one or two in 15 critical businesses in three distinct areas: high technology, services and our leadership core businesses.

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