Fremont: The success or failure of a company depends on the aura of the leader. A good CEO can fish out a company from losses and ensure a smooth sail, while a bad CEO can do more than just harm the financials. Whether the CEO is good or bad is decided by the style of management he follows. Entrepreneurs should try to get the best of all the styles so as to equip themselves to face various hurdles. Here are the management styles of few of the famous entrepreneurs.

Jack Welch

The former CEO of General Electronics, Jack Welch’s management style has an online MBA program as an ode. His style is known as ‘The Welch Way’ and examines the techniques and behaviors used by other successful CEOs. He used this style to transform GE from a manufacturing company to one of the most valuable companies in the world. Welch rose from the rank of a junior chemical engineer to the CEO. He gave more importance to the employees, the customers, and the products rather than the shareholders. He motivated the various managers to become more productive, trimmed the unnecessary inventories, and did away with bureaucracy.

According to him, a company should be at the top two positions in the industry, else leave it completely. This made him shut down factories, reduce the payrolls, and cut down on the less efficient units. Welch got the repute of being an autocrat as he used to fire the bottom 10 percent of his managers, but at the same time would reward the top 20 percent with bonuses and stock options. He cut across the nine-levels of management hierarchy and brought an informal feel among the employees. Welch adopted Six Sigma from Motorola. His tenure in GE saw the company rise from a value of $14 billion to more than $140 billion.