LEADERSHIP SECRET 26GROW YOUR SERVICE BUSINESS: IT’S THE WAVE OF THE FUTURE
FROM THE FILES OF JACK WELCH
The market is bigger than we ever dreamt.
In 1980, the year before Welch took over, GE was almost entirely a manufacturing enterprise, with 85 percent of revenues coming from manufacturing and only 15 percent from services.
The company had always been involved in services, but the service sector was regarded as something of an afterthought—known, tellingly, as the “aftermarket.”
At first, GE saw the service sector as merely a source of some incremental business. But in time, company executives understood that a systematic focus on services ...
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