UPDATE: NEW VERSION AVAILABLE. I was hoping for more history of the company to give the fall some more emotion. The book would've been better with a more emotive narrator. As an employee of GE Capital, I lived through part of the events described. Please try again. First let me put in context my interest in this book. Two Wall Street Journal reporters expand years of their newspaper coverage into a detailed book about the decline of General Electric due in large part to management incompetence, greed, and dishonesty.. The GE “meatball”, Even though I spent my career in business, I rarely read business books. 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 book starts with a brief history then begins with the most dynamic CEO, Jack Welch. 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). GE’s fall from grace, due to abysmal leadership, was tragically inevitable. This book not. The wee people can c. A sad story of management hubris and blindness to reality. And has this, uh, unprecedented year gotten completely in the way of... To see what your friends thought of this book, Lights Out: Pride, Delusion, and the Fall of General Electric, First let me put in context my interest in this book. Although they did try to define the terms it still didn’t help. The story skipped around jarringly throughout the book, but as former GE I could keep up. 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. I concede it's a complicated company with plenty of moving parts and businesses so I can understand that to a point. Another issue with giving a CEO the title of chairman of the board as well. Houghton Mifflin Harcourt (July 21, 2020), Reviewed in the United States on July 26, 2020. The new 80-inch C by GE light strip costs $20 less than a strip of the same size from Philips Hue. I also come from a family who had lots of relatives work at GE and held the company in reverence. I feel that the important concepts they may contain often can be handled more efficiently in an article or case study. July 21st 2020 Mistakes were primarily bad financial and strategic decisions. The only thing I didn’t like was that it seemed too technical for people that are ignorant of business terms. Me first! This was an account of the fall of General Electric. I went to middle and high school with Ted Mann; he’s always been smart and a skilled writer. I read this book using immersion reading, while listening to the audio book. 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. This was a fantastic exploration into the inner workings of GE. 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 first on broke down - lack of confidence in the products GE built that were on those planes) plus the fact that you were a salesman and didn't know a thing about finance. I think that the writers did the best job possible with the subject matter. Even after reading it. Welcome back. Instead, our system considers things like how recent a review is and if the reviewer bought the item on Amazon. Repetitive. How far the mighty have fallen. by Houghton Mifflin Harcourt. Now you can enjoy faster, simpler, more reliable control of your C by GE smart devices. Best dimmable LED light bulbs Amazon Great Eagle LED A19. 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. 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. My only gripe in an otherwise interesting read. To be fair there were a number of anecdotes but this read like a textbook in parts. A good read. Read an excerpt from 'Lights Out: Pride, Delusion, and the Fall of General Electric,' by Thomas Gryta and Ted Mann. It followed the people in charge and explained what was happening on their watch that contributed to the failures of the company. 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. 25 years in the history of General Electric, Reviewed in the United Kingdom on December 17, 2020. There were a few "scandals" but nothing that severely impacted the future of the company. 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. I can always pull out lessons learned or things to apply within my own career, which is great. Its tells an interesting story and leaves you with a lot to think about. It took care of them despite some questionable business and accounting practices. 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. 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. 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. Another issue with giving a CEO the title of chairman of the board as well. Unfortunately for him, his tenure was marked by two of the worst disasters to hit modern business and our country, the 911 attacks and the 2008 financial crisis. 2030: How Today's Biggest Trends Will Collide and Reshape the Future of Everything, How to Lead: Wisdom from the World's Greatest CEOs, Founders, and Game Changers, The Great Demographic Reversal: Ageing Societies, Waning Inequality, and an Inflation Revival, Radical Uncertainty: Decision-Making Beyond the Numbers. 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. Fascinating and slightly horrifying that a company with such a reputation as Ge could be so dysfunctional. I went to middle and high school with Ted Mann; he’s always been smart and a skilled writer. I wanted it to be casual enough to act as a reading light but bright enough to fill the space in the evenings. During the 20 years when Welch was CEO General Electric’s value increased from $14 billion to $400 billion. 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. As related in Lights Out, the authors deal with the question “what happened?” that took a company that was at one time the most valuable corporation in the world and one of America’s most admired companies to a much smaller shell of its former self today. 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 read it any way. 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. .orange-text-color {color: #FE971E;} Explore your book, then jump right back to where you left off with Page Flip. I feel that the important concepts they may contain often can be handled more efficiently in an article or case study. Prime members enjoy FREE Delivery and exclusive access to music, movies, TV shows, original audio series, and Kindle books. To calculate the overall star rating and percentage breakdown by star, we don’t use a simple average. 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. ... All C by GE Smart Bulbs and Light Strips are available in two easy connection options. This is truly a sad saga, narrating the decline of an iconic American company, General Electric, brought down by financial engineering and mismanagement. Reviewed in the United Kingdom on July 28, 2020. After reading this I suggest reading the ride of a lifetime by Robert Iger for a different approach and outcome. Failure was not at the hands of Welch, Immelt, or Flannery. We’d love your help. I have some personal ties to this company that are not seen in a good light (see what I did there ha). If you have an interest in business, you will find the story of the company’s rose and fall engrossing. Included with a Kindle Unlimited membership. It's repetitive like it's written to read parts instead of cover to cover. For the 2020 holiday season, returnable items shipped between October 1 and December 31 can be returned until January 31, 2021. Perfect for a Christmas present for somebody who enjoys business books. GE is now a different place and does not invoke the same sense of awe. As related in Lights Out, the authors deal with the question “what happened?” that took a company that was at one time the most valuable corporation in the wor. The title of pride and delusion is aptly applied here. Great light. The failures of leadership in later management and the board are hard to comprehend. Goodreads helps you keep track of books you want to read. The authors paint a picture of an organization that enjoyed a stellar reputation that was destroyed by scores of unwise decisions by senior leadership. It also analyzes reviews to verify trustworthiness. This was a fantastic exploration into the inner workings of GE. The C suite should be the best people in the company, yet rarely true. If this isn’t an indictment of the criminality of both positions being held by the same individual, nothing comes close. 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. A bio and his approach brought GE billions despite the old boys club atmosphere, GE had. You are. 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 is an excellent book, the authors must have spent many hours researching and putting this together. This has been perfect for what I needed. I did learn some insights on why things happened the way they did but I would not trade my time and experience at GE for anything. Maybe it was just me, but I found the telling of the story a bit "dry." 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. Having spent 5 years on a GE leadership team, much of what I read in this well-written book rings true. 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. Reviewed in the United States on July 21, 2020. Ted Koppel's intensely researched book presents a scenario that trumps dystopian novels about zombies and plague--because this threat is real. Remember that awesome Christmas Lights Gone Wild video from last year? This book is no exception. Maybe it was just me, but I found the telling of the story a bit "dry." I find this a true loss of a great institution. GE is now a different place and does not invoke the same sense of awe. Plus, there’s no hub required, so you can simply connect and control. 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. 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. 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. I joined one of the company's corporate leadership programs directly from a 4 year tour with the Army - I targeted GE specifically as I was leaving the military and spent 6 months pestering the company for an interview before they agreed to speak with me. Enjoy a great reading experience when you borrow the Kindle edition of this book with your Kindle Unlimited membership. When I finally got an offer I just couldn't believe how blessed I was. 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. I have these in my living room floor lamp. Also GE appeared to be a fairly buttoned up organization, especially under Immelt. I very much enjoyed the treatment of the shrinking of GE. Notably strong language in the epilogue on the failure of the board who oversaw it all without really challenging what was going on. Welch turned leadership into a cult that Immelt happily continued. 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). Something went wrong. It was a challenging and exciting place to work. 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. Two writers putting together an account sounded ideal. Be the first to ask a question about Lights Out. This presentation of the complex reasons for the decline should be required reading to anyone seeing to get a feeling of the complexities of such a large organization. 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. Certamente não é a única empresa que perdeu o foco no cliente e que foi forçada a pagar um preço bastante caro por tal ação. This is the story of the recent decline of General Electric. For me, a GE retiree in the same year as Jack Welch, this is a devastating read. 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. The book starts with a brief history then begins with the most dynamic CEO, Jack Welch. Fascinating and slightly horrifying that a company with such a reputation as Ge could be so dysfunctional. 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. Lights Out: Pride, Delusion, and the Fall of General Electric, Audio CD, Audiobook, MP3 Audio, Unabridged. Unable to add item to List. I very much enjoyed the treatment of the shrinking of GE. 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. It began the slippery slope of the fall of GE. GE got addicted to its financial services revenue. I have a guilty pleasure of reading books about spectacular business failures. To get the free app, enter your mobile phone number. Our payment security system encrypts your information during transmission. 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. Enter your mobile number or email address below and we'll send you a link to download the free Kindle App. 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. Find GE christmas lights at Lowe's today. * Available out of the box with C by GE Direct Connect Smart Bulbs. As they told us "GE makes things that change the world". This was an account of the fall of General Electric. Thats not to say after the read you aren't left with your own opinion of where it went wrong. If GE then bought a company with a price-to-earnings ratio of 10—that company was earning $4 per share for every $40 of stock—GE was essentially trading $1 of earnings for $3 of new earnings without doing anything except making the deal.”, “The doubters soon realized that “Imagination at Work” wasn’t just advertising. 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