Winning: lessons. Jack and Suzie Welch - Book Report/Review Example

He further adds that winning by organizations and companies make it easy for the people in society as people are able to provide the basic needs like food, clothing, shelter, entertainment for their families and the society at large gets to benefit as people are able to give back to society in hugely fundamental ways like; donations of monies to charities, taxes to the government since the government makes no money by its self and by that way, the government becomes the support for the engine of the economy and not the engine itself since taxes enable the government to protect the society from the persistent challenges, national insecurity.

The taxes also enables the government to provide education, police and fire protection, ports and highways, justice systems, welfare and hospitals among other public infrastructure all to the benefit of the society. Central Pillars: Major learning outcomes from the author’s book; Mission and values According to the author, mission and values are among the business words that are exaggerated in business yet misunderstood too- business colleges being the ones increasing the confusion by making their students writing on mission statements and debate values.

The author writes that from his mission statement for any company should answer only one question; “how do we intend to win in this business?” the question require organizations to make decisions about resources, people, investment and avoids them from falling into the familiar mission trap. The author defines and discusses values as the behaviors that live little imagination and employees should use them as marching orders since they are the “how” of the mission- the means to winning.

Every employee in the organization should have something to with the values unlike the mission this is so because it gives insights and ideas. However the executive team should be the ones to come up with the first interpretation and then passed round in the organization for approval. Finally the mission should be concrete and the values should be able to describe specific behaviors but for the two to work hand in hand, they have to be mutually reinforcing as brought out by the author. Leadership In a layman term, leadership means an activity of leading a team of people or an organization; it involves setting clear vision of the organization and sharing with the other employees of the organization.

Leadership requires specific behaviors and attitudes that are so distinct from other employees- this is so because before one becomes a leader, his view on success has to be on growing himself but after becoming a leader, success to him is all about growing others. For a leader to win in business, there are several rules the author has talked about; leaders should establish transparency, trust with candor and credit; leaders should establish positive energy optimism among their team; and leaders should make sure the team they lead not only see the vision but breathe and live it among other rules the author talked about.

Budgeting Budgeting is the planned allocation of available resources to each function or department within an organization. Budgeting allows managers to control overspending in not reproductive sectors and put more organization assets into sectors that produce significant good public relations or income. In most companies, budgeting is usually done during meetings with financial accountants and representatives from each department concerned by the budgeting of the company. Budgeting is one of the most ineffective practices of management in most companies.