Mr. Jeffery R. Immelt, Chairman and CEO of GE Company, accompanied by his executive team of GE China, joined 13 CEC members in a business luncheon on 29th May 2012. Mr. Immelt shared his philosophy of corporate management and talent strategy with the CEC members.
According to Mr. Immelt, Chinese enterprises can hardly evolve into great companies unless they are truly driven by innovation and the spirit of the entrepreneurship, instead of the government. To survive in the global market, Chinese enterprises must learn to compete under less government protection.
Many Chinese entrepreneurs share the vision of building great companies, but only a few had the chance to try. More often than not, the Chinese private companies used to have their lives hung by a thread with political setbacks weighing on them. Mr. Liu Chuanzhi pointed out that not treating people in a fair way under the law is a major problem in the current China. Young people should be given equal opportunities for individual development.
As a role model of great company, GE highly emphasizes the commitment to the sustainable growth of the company, by attaching special attentions to five aspects: insight to the external market, professional expertise, imagination and courage, strong mindset, and inclusiveness.
One of GE’s core competitiveness lies in talent development and corporate leadership. Every year, the company spends USD 1 billion in education and training. As the company’s CEO, Mr. Immelt spends 30% of this time in talent management, which is part of GE’s gene of success.
China is now standing at a turning point, given rapid economic growth in the past thirty years. Such growth represents the success of the macro-economy which greatly relies on a powerful and ‘disciplined’ government. Looking ahead, China’s continuous economic success requires more open, transparent state-owned enterprises and bolder, competitive private ones.