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2. Fill in the gaps with the words/word combinations instead of their definitions given in brackets

1. While focusing on strengths and _______(changing attention) to services, GE under Welch embraced globalization.

2. The corporate winners would only be those who are the “leanest”, the “lowest-cost

worldwide producers of quality goods and services or those who have a clear technological

_______something that gives you an advantage), a clear advantage in a market niche.

3. He _______(take control of something) a company in 1981 that had 350 different businesses in its _______(the combination of shares or other investments that a particular person or company has) clustered in 43 Strategic Business Units.

4. He drew three circles representing services, high technology and _______the main business or activities of a company or organization), and placed the names of 15 businesses inside the circles.

5. Those businesses that did not perform or could not be improved to meet the goal would be _______(sell something, especially a business or a part of a business).

6. He pledged to continue to operate or to acquire (obtain something by buying it)only those businesses that would be number one or number two in their market.

7. He continued: “If you have a game that’s _______(something/somebody can be easily

harmed, hurt, attacked or criticized), somebody can move fast, get you.

8. Operating in more than 100 countries, the company has about 45 percent of its 293,000

employees outside the United States and earns approximately the same share of _______(money

that a business or organization receives over a period of time, especially from selling goods or

services ) outside the country.

3. Choose the right answer

  1. Jack Welch, the legendary chairman and CEO of General Electric, did not spell out his strategy clearly with his “number one, number two” concept. TRUE/FALSE

  2. He pledged to continue to operate or to acquire only those businesses that would be number one or number two in their market. TRUE/FALSE

  3. He took over a company in 1981 that had 35 different business in its portfolio clustered in 10 Strategic Business Units. TRUE/FALSE

  4. Those businesses that did not perform or could not be improved to meet the goal would be divested. TRUE/FALSE

  5. The corporate winners would only be those who are the “leanest”, the “lowest-cost” worldwide producers of quality goods and services or those who have a clear technological edge, a clear advantage in a market niche. TRUE/FALSE

  6. Welch put forward a “sell” policy. TRUE/FALSE

  7. Jack Welch stated “If you have a game that’s vulnerable, somebody can move fast, get you. And you don’t have a checkmate play or another move. You’ve got to get out of that game”. TRUE/FALSE

  8. In addition to the ‘number one, number two’ policy, Jack Welch reoriented the company toward products. TRUE/FALSE

  9. When Jack Welch began managing GE, the company was composed of 75 percent services and 15 percent products. TRUE/FALSE

  10. While focusing on strengths and shifting to products GE under Welch embraced globalization. TRUE/FALSE