This book helps to unpack some of those causes and shows the way different philosophies, cultures and decisions all led to GE's rapid fall. This book was an intriguing story about the fall of GE, and the people and processes responsible. This has been perfect for what I needed. After reading this I suggest reading the ride of a lifetime by Robert Iger for a different approach and outcome. A good read. It was a challenging and exciting place to work. Find all the books, read about the author, and more. The Board created a toxic environment which silenced the organ; disbanded the choir; and sold an a cappella mantra as gospel. I concede it's a complicated company with plenty of moving parts and businesses so I can understand that to a point. This was a good inside scoop on the rise and fall of GE from the time of Jack Welch to the new leadership under Larry Culp. Billion Dollar Loser: The Epic Rise and Spectacular Fall of Adam Neumann and WeWork, No Rules Rules: Netflix and the Culture of Reinvention, Lessons from the Titans: What Companies in the New Economy Can Learn from the Great Industrial Giants to Drive Sustainable Success, Lights Out: A Cyberattack, A Nation Unprepared, Surviving the Aftermath, Winning Now, Winning Later: How Companies Can Succeed in the Short Term While Investing for the Long Term, THOMAS GRYTA writes about General Electric for the. Let us know what’s wrong with this preview of, Published The book starts with a brief history then begins with the most dynamic CEO, Jack Welch. Reviewed in the United States on July 21, 2020. The authors have achived their primary goal, to summarize the history of this great Amrican company, its rise to proeminence under the leadership of Jack Welsch, and its decline in the last 20 years, to its current status, a pale shadow : too much financial risk, too much leverage, too much diversification, too opportunitic in its management, etc. One feels more sympathy for Immelt who comes across as more a tragic character than anything else. I was very interested to see this book as I have watched from afar to see the collapse of GE. 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. It is a straight forward account of what happened. Its still hard to tell where it all went wrong for GE. The title of pride and delusion is aptly applied here. Me first! It is not worth the time to read. This book is no exception. Please try again. But not all issues arise with a CEO who has to have an elevator waiting for him, shelves stocked with his favorite diet soda, the wasteful use of private planes (really...you needed a second one following the first in case the f. Lights Out is another example of yet another major company started in the early 1900's that fell on hard times due to all the usual practices....ego, greed, piss poor decisions and I could go on. seems written by a committee and then edited quite hastily. So if you do like talking about books you read, this one leaves you with lots of topics to explore. I am proud of my GE career, and I am grateful for the chances I had to work with high quality people during my time there. The book sets up the Immelt years with a more balanced view of the Welch years highlighting his obvious skills but also highlighting how he did sow the seeds for the eventual collapse. How far the mighty have fallen. It is full of executives finger pointing at each other. As they said at work, "You cannot spell change without GE". I read this book using immersion reading, while listening to the audio book. Overextending themselves, forays into new fields, questionable acquisitions, flowery accounting practices and more. The only thing I didn’t like was that it seemed too technical for people that are ignorant of business terms. I noticed that a number of present and former GE employees gave this book a high rating so I can feel comfortable that the author did his research and due diligence in telling the story. The book centers on the company’s dramatic decline, starting with longtime CEO Jack Welch’s exit in September 2001, and his replacement by his handpicked successor, Jeff Immelt. Immelt was intent on putting marketing at the heart of GE strategy to dictate not just how the company sold the things it made but what it made in the first place. Prime members enjoy FREE Delivery and exclusive access to music, movies, TV shows, original audio series, and Kindle books. Based on this book, I would remove any thought of adding Jack Welsh to the business CEO Mt Rushmore class. Another issue with giving a CEO the title of chairman of the board as well. Mistakes were primarily bad financial and strategic decisions. The new 80-inch C by GE light strip costs $20 less than a strip of the same size from Philips Hue. First let me put in context my interest in this book. Failure was not at the hands of Welch, Immelt, or Flannery. Plus, there’s no hub required, so you can simply connect and control. Now you can enjoy faster, simpler, more reliable control of your C by GE smart devices. This book is no exception. I personally have had lots of affinity for the company as I came to the United States by way of a H1-B visa my father received to work in a GE plant in Southern Virginia in the early 90s under Jack Welch. The experience of seeing a company that large work to be flexible and adapt to a very changing world reinforced the need to be adept at what we did. Goodreads helps you keep track of books you want to read. Please try again. I remember being cautioned by two long time senior GE execs never to question Jeff’s opinions. They focus primarily on the 16-year period when Welch’s successor, Jeff Immelt, was at the helm. GE is now a different place and does not invoke the same sense of awe. Enjoy a great reading experience when you borrow the Kindle edition of this book with your Kindle Unlimited membership. Despite a long and storied history, founded by Thomas Edision, "incorporated" by J.P. Morgan, the company was a shining example of what an American company could do, create and become. I thought the book was a fascinating read and for a business book an easy read. Great light. He would point at some of the management hypocrisies even back then. There are some great lessons for leaders and especially leaders in the fintech space from this book. As such I lived within some of the story laid out here and for me it is fascinating to see what was going on behind the scenes at board level, since most of that was hidden as mere employees. I was hoping for more history of the company to give the fall some more emotion. Top subscription boxes – right to your door, Lessons from the Titans: What Companies in the New Economy Can Learn from the Great Industrial…, © 1996-2020, Amazon.com, Inc. or its affiliates. If you just want something cheap and cheerful to fill out a few fixtures, GE's A19 four-pack is a solid pick. Refresh and try again. Please try your request again later. 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. 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: Pride, Delusion, and the Fall of General Electric, Audio CD, Audiobook, MP3 Audio, Unabridged. I find this a true loss of a great institution. Even after reading it. Best dimmable LED light bulbs Amazon Great Eagle LED A19. My only gripe in an otherwise interesting read. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required. among other sins of conglomerization. Meet the C by GE app—rebuilt for the speed of life. This was an account of the fall of General Electric. 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. If you have an interest in business, you will find the story of the company’s rose and fall engrossing. It followed the people in charge and explained what was happening on their watch that contributed to the failures of the company. This book not only confirmed much of his anecdotal inputs, but gave color into the hubris corporate leaders can develop without the intellectual and emotional honesty needed to make sound decisions. Thats not to say after the read you aren't left with your own opinion of where it went wrong. 25 years in the history of General Electric, Reviewed in the United Kingdom on December 17, 2020. The plight of GE is a real shame. Be the first to ask a question about Lights Out. Fascinating and slightly horrifying that a company with such a reputation as Ge could be so dysfunctional. Taking a break from fiction to catch up with some nonfiction. The title of pride and delusion is aptly applied here. These LEDs provide a full-spectrum of color changing light and are available in a … Just a moment while we sign you in to your Goodreads account. It is so interesting to me to read stories of companies, especially the mega brands. I am a GE employee, not by choice, but through chance as the company I worked for was taken over 9 years ago (I was a bit disappointed that the takeover was not mentioned in the book, although I guess $3 billion dollars is small fare in this story). But, like many other Goodreads reviewers for Lights Out, I felt compelled to read this book because I spent a large part of my career working at GE. ... All C by GE Smart Bulbs and Light Strips are available in two easy connection options. Maybe it was just me, but I found the telling of the story a bit "dry." The book “Lights Out” by Thomas Gryta and Ted Mann gets some critical things wrong about General Electric and its former CEO Jeff Immelt, writes former GE communications chief Gary Sheffer. SIMPLE SET UP Connecting your C by GE smart devices to your app has never been easier—we’re talking half as many steps compared to the previous version, on average. Included with a Kindle Unlimited membership. The book would've been better with a more emotive narrator. How far the mighty have fallen. GE business leaders would now convene to come up with “Imagination Breakthroughs”—that is, ideas about products the company should design and sell.”, Goodreads Members Suggest: Favorite Very Quick Reads. Ótimo livro a respeito de uma empresa que segue sendo extremamente importante. Reviewed in the United States on September 13, 2020. When Welsh retired, Jeff Immelt was chosen to lead the company. I find this a true loss of a great institution. I very much enjoyed the treatment of the shrinking of GE. The 9/11 attacks coming on his second day as CEO a case in point. Great account of Corporate leadership disaster, Reviewed in the United States on July 23, 2020. Enter your mobile number or email address below and we'll send you a link to download the free Kindle App. “Lights Out is the definitive story of an American business powerhouse losing its way. After viewing product detail pages, look here to find an easy way to navigate back to pages you are interested in. I got into this at first. There are no discussion topics on this book yet. It took care of them despite some questionable business and accounting practices. Their book tells the story of GE, beginning with Jack Welch’s final years as CEO. It jumps around in time making it hard to follow the timeline. I was particular interested in the messaging delivered by senior leadership about the state the company was in because I’ve worked in that space in corporate communications, but I also found the strategy behind each acquisition fascinating. I don’t know if accounting fraud was committed, but from what I’ve witnessed in meetings I wouldn’t be surprised.GE’s sick culture of humiliating people (in front of their peers) for not meeting numbers or making specific sales, regardless of reason, is enough to make anyone consider dishonesty to avoid torture. An excellent book that details the fall of GE from when Jack left until Jeff got asked to leave. Acompanho a GE desde o anos 80 e no final dos 90 li várias matérias a respeito da sucessão do Jack Welch. Maybe it was just me, but I found the telling of the story a bit "dry." While the book does not try to draw broader lessons around organizational decline (a missed opportunity), I think we can apply some of GE's lessons to higher ed. A leitura do livro permite acompanhar a paulatina perda de foco no benefício aos clientes; gradativamente os dirigentes se desconectam do mundo real e passam a viver em uma espécie de redoma. The Company was full of incredibly smart, dedicated people who cared and loved their business. The book provides an informative explanation and character examination of Jeff Immelt as the CEO of GE. Lights Out's authors paint a damning portrait of Immelt’s 16 years at the helm of GE, where a rubber-stamp board of directors allowed him to hemorrhage money almost unchecked. It wasn't an easy place to make a career, and the company had a lot of warts, but I found the culture to be mostly inspiring (more under Welch than Immelt) and the opportunities for growth were incredible. .orange-text-color {font-weight:bold; color: #FE971E;}Enjoy features only possible in digital – start reading right away, carry your library with you, adjust the font, create shareable notes and highlights, and more. A very well written book on trials and turbulations with the GE both from the historical and leadership perspective, give insights on the internal leadership struggles and the GE performance model that have make so many people miserable, “As an example, if GE was trading at a price-to-earnings ratio of 40, that meant that, if its stock was $40, it was earning $1 per share every year. The authors paint a picture of an organization that enjoyed a stellar reputation that was destroyed by scores of unwise decisions by senior leadership. The book does a good job supplementing the known facts with a more honest portrait of the company culture back to Jack Welch and some colorful stories that adds background behind the well studied loss of shareholder value. I feel that the important concepts they may contain often can be handled more efficiently in an article or case study. But, like many other Goodreads reviewers for Lights Out, I felt compelled to read this book because I spent a large part of my career working at GE. There was a problem loading your book clubs. Rambling. I spent 25 years with GE (17 as an executive band employee), and worked at 6 different businesses within the company. The culture described by the authors was very close to what we saw. Overall I highly recommend reading lights out. This was a fantastic exploration into the inner workings of GE. Bring your club to Amazon Book Clubs, start a new book club and invite your friends to join, or find a club that’s right for you for free. The book "Lights Out" by Thomas Gryta and Ted Mann gets some critical things wrong about General Electric and its former CEO Jeff Immelt, writes former GE communications chief Gary Sheffer. It's all here in detail. Did you set an extremely ambitious Reading Challenge goal back in January? Unable to add item to List. Even though I spent my career in business, I rarely read business books. Instead, our system considers things like how recent a review is and if the reviewer bought the item on Amazon. Also GE appeared to be a fairly buttoned up organization, especially under Immelt. GE got addicted to its financial services revenue. There are other factors that were in play in bringing down General Electric. As an employee of GE Capital, I lived through part of the events described. Not being able to see the wood for the trees is an obvious flaw but so easy to see how that develops amidst a company so focused on delivering quarterly earnings. To calculate the overall star rating and percentage breakdown by star, we don’t use a simple average. If this isn’t an indictment of the criminality of both positions being held by the same individual, nothing comes close. I personally have had lots of affinity for the company as I came to the United States by way of a H1-B visa my father received to work in a GE plant in Southern Virginia in the early 90s under Jack Welch. This book got enough wrong in the places I have first hand knowledge to not be worth reading. This presentation of the complex reasons for the decline should be required reading to anyone seeing to get a feeling of the complexities of su. I recently finished the book Lights Out: Pride, Delusion, and the Fall of General Electric which goes into detail about the downfall of General Electric. The wee people can choke on the left-overs, if there are any left! I think it would make a great episode of Frontline or a netflix docuseries. Two writers putting together an account sounded ideal. .orange-text-color {color: #FE971E;} Explore your book, then jump right back to where you left off with Page Flip. I can always pull out lessons learned or things to apply within my own career, which is great. Welcome back. As the book sets out, GE was a creation of failed Edison businesses joined together by the banker J.P.Morgan, and Edison had little to actually do with the company. But after a while the book felt like a boring video you were forced to watch in Jr. High on a hot day with the lights off. There were a few "scandals" but nothing that severely impacted the future of the company. Something went wrong. Final point, at 340 pages, the book is thorough but I reckon it could have been 240 pages as there is a fair degree of repetition. I have these in my living room floor lamp. 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. As an 8 year executive of a business bought by GE, I found this incredibly accurate. This is truly a sad saga, narrating the decline of an iconic American company, General Electric, brought down by financial engineering and mismanagement. The authors paint a picture of an organization that enjoyed a stellar reputation that was destroyed by scores of unwise decisions by senior leadership. The fact that GE was not fully meeting their pension obligations while they were buying back stock should bring the wrath of jail time to everyone on the leadership team and/or clawbacks of millions of dollars in bonus payments. Much as Welch had before them, Comstock and Immelt hatched new jargon to express the process they wanted the company to follow. Reviewed in the United Kingdom on October 26, 2020. The story skipped around jarringly throughout the book, but as former GE I could keep up. Welch turned leadership into a cult that Immelt happily continued. July 21st 2020 The fact that GE was not fully meeting their pension obligations while they were buying back stock should bring the wrath of jail time to everyone on the leadership team and/or clawbacks of millions of dollars in bonus payments. Reviewed in the United States on August 16, 2020. Pair your Smart Bulbs and Light Strips with a smart assistant—like Amazon Alexa or Hey Google—for hands-free voice control of your lights… I purchased the book mainly because I work for the digital operations of one of GE's rivals and many of our leadership are GE alumni. Fascinating and slightly horrifying that a company with such a reputation as Ge could be so dysfunctional. As an ex GE-Capital employee, it's my view that senior managers and top leadership were only concerned with 1) protecting their bonus & compensation and 2) their ability to move-up. Lights Out: A Cyber Attack, a Nation Unprepared, Surviving the Aftermath is a cautionary tale. 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