To many expert observers, Jack Welch (who served as CEO of General Electric from 1981 to 2001) was the “Manager of the Century,”  as he was called by Fortune. According to 60 Minutes, the value of GE stock rose by 4,000!!!! percent during Welch’s tenure as CEO.

Since his retirement from GE, Welch has not been idle on the business front — far from it. He has been involved with business education, done speaking engagements, authored/co-authored books, served on corporate boards, and done a whole more.

Recently, Jack and Suzy Welch contributed an essay on “6 things that distinguish great companies from average ones” for Business Insider:

1. “Great companies demonstrate a real commitment to continuous learning.”

2. “Great companies are meritocracies.”

3. “Great companies not only allow people to take risks but also celebrate those who do.”

4. “Great companies understand that what is good for society is also good for business.”

5. “Great companies keep their hiring standards tight.”

6. “Great companies are profitable and growing.”

 
Click the image for an explanation of each of the above points.

Photo by Mike Coppola/Getty Images