Summary of The Real-Life MBA

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The Real-Life MBA book summary

Editorial Rating

8

Qualities

  • Applicable
  • Concrete Examples
  • Engaging

Recommendation

How do leaders create strategic growth? According to the late corporate titan Jack Welch and his wife, journalist Suzy Welch, the secret lies in strong leadership and in aligning your corporate actions with your mission. This accessible primer on business basics stresses the importance of leadership that has its roots in trust and transparency. The Welches’ aim is to help you demystify often-baffling topics such as finance and marketing, while encouraging you to take control of your career. You’ll learn how to create growth teams, handle crises and pursue your true calling. Whether you’re a middle manager wanting more responsibilities, a leader seeking a boost or an entrepreneur, this book will help you overcome stalled momentum and embrace a growth mind-set.

About the Authors

Jack Welch was CEO of General Electric and best-selling author of Jack: Straight from the Gut and Winning. Business journalist and television commentator Suzy Welch wrote the bestseller 10-10-10.

Summary

Businesses achieve momentum when they prioritize alignment.

A company grows when its mission aligns with its employees’ collective actions. Your organization’s mission describes its “destination” and explains why your people should feel motivated to achieve your corporate purpose and goals. 

To inspire them and make that driver work well, connect your mission to actions and consequences. When the mission and their actions don’t align, growth is unlikely. Show your employees how their bonuses and salaries reflect their unique contributions toward achieving your mission. 

Organizations should choose a mission with “practical, inspirational or aspirational” value. For example, Nalco’s corporate mission is to deliver safe drinking water to customers while protecting the environment by using sustainable practices and making a profit. 

Leaders should communicate how they expect team members to take action to serve the mission. Help your employees understand the broader impact, or consequences, of their contributions. Be sure your management...


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