Finding culture change in ge’s 2019 shareholder letter gas x ultra strength during pregnancy


L.J. Rittenhouse is a financial expert, a leadership consultant and an entrepreneur who invented Candor AnalyticsTM, a revolutionary new investment tool that measures the integrity of executive leadership and corporate cultures. These candor metrics are shown to be positively correlated with market-beating performance. The CFA Institute has static electricity in the body effects chosen Candor Analytics as part of its Future of Finance initiative.

L.J. has written three books: Do Business with People You Can Tru$t, Buffett’s Bites, and Investing Between the Lines. She consults with executives from startups to Fortune 20 companies on how to solve problems and grow trustworthy corporate cultures that boost operational and financial results. L.J. blogs on and has been featured on CNN, CNBC, and Canada’s BNN, as well as in the Wall Street Journal, USA Today, BusinessWeek and Barron’s. A sought-after keynoter, she is on the ACUS Advisory Board, serving our veterans, and is Coach-in-Residence for The Nantucket Project. Contact Laura Rittenhouse

Read the print and digital news commentary about Larry Culp’s first shareholder letter at GE, and you’ll find skepticism, judgment, cautious hope from various pundits, and even praise. But eseva electricity bill payment no one has yet linked Culp’s letter to the importance of changing GE’s culture. To know how necessary this is, you must read Jeff Immelt’s 2017 shareholder letter as GE’s CEO.

This letter rambled and weighed in at almost 8,000 words versus the average of 2,000 for most CEO letters. It lacked coherence and was loaded with fact-deficient, obfuscating, generalities or “FOG”. In fact, Immelt’s letter ranked dead last in my Candor Analytics Rankings Survey of CEO Letters. It suggested that GE’s culture – its beliefs and values that align actions, and engagement among owners, employees, customers and suppliers – was in serious trouble.

In 2002, I had the privilege of working with Jeff and his shareholder letter team to design his inaugural CEO letter. Talk about timing! He took over from legendary gaz 67 for sale CEO Jack Welch soon after the planes crashed into the World Trade Center. Then Enron filed for bankruptcy igniting an epidemic of corporate mistrust that continues today. Immelt wrote about this in his letter:

Of course, a company as big as GE has a robust communications gas what i smoke team which is responsible (along with the CEO) for the content in the shareholder letter. My assessment of GE’s 2019 letter is that about 24% of it is pure Larry Culp – his words, thought and heart; 35% of the letter reveals some integration between the old and new GE cultures; and 51% of it reads like the old GE.

Since Culp was made CEO just six months ago, this analysis shows remarkable progress. These stats suggest that GE’s culture was ripe for change and that Culp is building a culture that is inclusive, accountable, humble, respectful a gaseous mixture contains and where people “call things by their proper name”. Culp calls out two critical priorities in his letter: 1) to improve GE’s financial position; and 2) to strengthen GE’s businesses, starting with Power.

Over time, the biggest lever we have to improve our financial position is to prioritize cash generation in each of our businesses. To that end, we are improving how we operationally manage cash every day, in every business, and are using lean management practices to improve working capital levels. For example, our Aviation team used lean and digital tools to improve average cycle time for the LEAP-1B, reducing the average engine assembly time by 10 days, or 36 percent. This led to lower inventory levels, more efficient throughput, and ultimately more available cash.”

We also need to run Power better, improving how we manage our inventory and material gas pump emoji management, product development and delivery, and billings and collections. For example, by moving responsibility for collections closer to the customer relationship managers, Power was able to improve its visibility to cash and collect it earlier in the quarter. Where we used to get just 35 percent of our cash in the first two months of the quarter, in the fourth quarter, Power increased this to 50 percent. This kind of operational improvement takes hard work, and it is a multi-year journey, but I’m encouraged by the Power team’s dedication and progress.