“Jack (Welch) was a great CEO, but he really controlled his world. Those days are over. I’m in the risk-management business. You’re not in the control business today, you’re in the risk-reward business.” - Jeff Immelt, CEO GE
Insight
The accelerating impact of technology on the natural forces of market competition are taking the world by storm & the unconventional business model adopted by Facebook, Twitter and WhatsApp of: get users, get them to use more of your product/service & then make money is difficult for traditional businesses to understand, says Uday Kotak. “As a banker, when I sleep at night, I worry about whether I’ll have a bank next morning, or will there be an Ali Bank or a Flipkart bank or some other bank doing what we do.” he says.
Jeff Immelt & Kishore Biyani's no risk, no reward attitude of reinventing yourself is the way forward.
