Lights Out - Pride, Delusion, and the Fall of General Electric by Thomas Gryta (US edition, paperback) - 9780358567059

A WALL STREET JOURNAL BESTSELLER "If you’re in any kind of leadership role—whether at a company, a non-profit, or somewhere else—there’s a lot you can learn here."—Bill Gates, Gates NotesHow could General Electric—perhaps America’s most iconic corporation—suffer such a swift and sudden fall from grace? This is the definitive history of General Electric’s epic decline, as told by the two Wall Street Journal reporters who covered its fall. Since its founding in 1892, GE has been more than just a corporation. For generations, it was job security, a solidly safe investment, and an elite business education for top managers. GE electrified America, powering everything from lightbulbs to turbines, and became fully integrated into the American societal mindset as few companies ever had. And after two decades of leadership under legendary CEO Jack Welch, GE entered the twenty-first century as America’s most valuable corporation. Yet, fewer than two decades later, the GE of old was gone. ​Lights Out examines how Welch’s handpicked successor, Jeff Immelt, tried to fix flaws in Welch’s profit machine, while stumbling headlong into mistakes of his own. In the end, GE’s traditional win-at-all-costs driven culture seemed to lose its direction, which ultimately caused the company’s decline on both a personal and organizational scale. Lights Out details how one of America’s all-time great companies has been reduced to a cautionary tale for our times.  "How could a company as big and successful as GE fail? I’ve been thinking about that question for several years, and Lights Out finally gave me many of the answers I was seeking. The authors give you an unflinching look at the mistakes and missteps made by GE’s leadership. If you’re in any kind of leadership role—whether at a company, a non-profit, or somewhere else—there’s a lot you can learn here."—Bill Gates, Gates Notes "5 Ideas for Summer Reading"   “A gripping and deeply reported account of the devastating disintegration of one of the most iconic firms ever to exist. To all of us shocked by GE’s seemingly abrupt fall from grace, this book lays out in painful detail how such a thing could have happened.” —Rita McGrath, Columbia Business School, author of Seeing Around Corners: How to Spot Inflection Points in Business Before They Happen   “Gryta and Mann tell a bracing tale of corporate venality, incompetence, and shortsighted deal-making. It’s a parable with no heroes but many lessons for anyone who wants to know how twenty-first century corporate management, w