I think a better way to remember him is his insistence that all GE's company's be either first or second in their market. So under performers got a chance to go for it and if they failed they were sold.

Welch more than quintupled GE during his time. None of his successors could manage the company so what he built is slowly being dismantled. What I never understood is why they didn't just split the company in half which would have returned more value to the shareholders.