There was a time when CEOs weren't celebrities, but that was before Jack Welch. Over the past 20 years, Welch, more than any other business leader, has changed the way people view the role of the CEO. There was no General Electric separate from Welch and no Welch separate from General Electric. Through his bold and sweeping reinvention of the company--thanks in no small part to the force of his personality--Welch created the CEO not just as public figure but as icon. Indeed, Welch's legacy and life have been analyzed, lauded, and excoriated by the public and the media alike. Small wonder, then, that his recent book--Jack: Straight from the Gut--has garnered the same degree of publicity. In this frank and wide-ranging interview with HBR senior editors Harris Collingwood and Diane Coutu, Welch replies to his critics and offers a detailed look at his theory and practice of business. Candidly answering questions about his personal style and his upbringing, Welch also gives readers a detailed glimpse of the practices that shape the distinctive GE culture: the meetings, the "deep dives" and, most important, the transmission of powerful ideas throughout GE's far-flung organization.

This is an enhanced edition of HBR article 98301, originally published in May/June 1998. John F. Welch, Jr. believes that GE must operate with the flexibility and agility of a small company. In this interview he explains how he is building a revitalized "human engine" to match GE's "business engine." Welch champions a companywide drive to eliminate unproductive work and energize employees and leads a transformation of attitudes at all levels. The centerpiece of this process is "Work-Out"--an intense multiyear program through which representatives of GE's 14 businesses meet regularly to identify sources of frustration and inefficiency and to overhaul evaluation and reward systems.