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GE: Larry Culp on Lean Manufacturing, Culture and COVID

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Manage episode 282964233 series 2526093
Inhoud geleverd door Southeastern Asset Management. Alle podcastinhoud, inclusief afleveringen, afbeeldingen en podcastbeschrijvingen, wordt rechtstreeks geüpload en geleverd door Southeastern Asset Management of hun podcastplatformpartner. Als u denkt dat iemand uw auteursrechtelijk beschermde werk zonder uw toestemming gebruikt, kunt u het hier beschreven proces https://nl.player.fm/legal volgen.

In this episode, Southeastern’s Vice-Chairman Staley Cates interviews Larry Culp, Chairman and CEO of General Electric.

They discuss how Lean manufacturing is much more than a process and how it can define a culture that is committed to continual improvement. Larry begins with an introduction to “Lean” and what it means to him [3:37 – 5:42]. They discuss whether Lean is a culture or a process [5:43 – 8:34] and what potential problems the approach seeks to address [8:35 – 10:50]. Larry next describes how he first learned about Lean and what made him embrace it as the optimal way to run a business and shape a culture [10:51 – 13:01]. Next, Larry discusses what made him take the role of CEO at GE in the first place and how he is leading GE to embrace Lean, using his experience from Danaher [13:02 – 16:54]. He then discusses the importance of team versus individual thinking in the context of Lean [16:55 – 19:34] and how to bring people on board with the approach [19:35 – 23:06]. Next, Larry discusses the core tenet of waste reduction in more detail [23:07 – 25:26], as well as challenges and opportunities within the supply chain [25:27 – 27:25].

Larry next describes incorporating the approach at GE in more detail. He answers why such a common sense approach is not more universally used [33:22 – 34:50] and discusses other leaders that he respects in terms of Lean implementation [34:51 – 36:38]. He rounds out the Lean tutorial with guidance on what metrics we as analysts can use to measure progress and success from the outside [36:39 – 38:14].

Next, they shift to cover GE more broadly, with Larry discussing GE’s culture and changes he has implemented since taking on his CEO role [38:15 – 40:12] as well as his goals for the next 3-5 years [40:13 – 41:13]. Larry then addresses how he has managed the business through a challenging COVID environment [41:14 – 43:37], discusses GE’s commitment to be carbon neutral by 2030 [43:38 – 45:07] and gives an update on the work to reduce GE Capital [45:08 – 47:14]. Finally, Larry shares his outlook for GE as a business and what makes him most excited as a (significant!) owner of the stock [47:15 – 48:17].

  continue reading

26 afleveringen

Artwork
iconDelen
 
Manage episode 282964233 series 2526093
Inhoud geleverd door Southeastern Asset Management. Alle podcastinhoud, inclusief afleveringen, afbeeldingen en podcastbeschrijvingen, wordt rechtstreeks geüpload en geleverd door Southeastern Asset Management of hun podcastplatformpartner. Als u denkt dat iemand uw auteursrechtelijk beschermde werk zonder uw toestemming gebruikt, kunt u het hier beschreven proces https://nl.player.fm/legal volgen.

In this episode, Southeastern’s Vice-Chairman Staley Cates interviews Larry Culp, Chairman and CEO of General Electric.

They discuss how Lean manufacturing is much more than a process and how it can define a culture that is committed to continual improvement. Larry begins with an introduction to “Lean” and what it means to him [3:37 – 5:42]. They discuss whether Lean is a culture or a process [5:43 – 8:34] and what potential problems the approach seeks to address [8:35 – 10:50]. Larry next describes how he first learned about Lean and what made him embrace it as the optimal way to run a business and shape a culture [10:51 – 13:01]. Next, Larry discusses what made him take the role of CEO at GE in the first place and how he is leading GE to embrace Lean, using his experience from Danaher [13:02 – 16:54]. He then discusses the importance of team versus individual thinking in the context of Lean [16:55 – 19:34] and how to bring people on board with the approach [19:35 – 23:06]. Next, Larry discusses the core tenet of waste reduction in more detail [23:07 – 25:26], as well as challenges and opportunities within the supply chain [25:27 – 27:25].

Larry next describes incorporating the approach at GE in more detail. He answers why such a common sense approach is not more universally used [33:22 – 34:50] and discusses other leaders that he respects in terms of Lean implementation [34:51 – 36:38]. He rounds out the Lean tutorial with guidance on what metrics we as analysts can use to measure progress and success from the outside [36:39 – 38:14].

Next, they shift to cover GE more broadly, with Larry discussing GE’s culture and changes he has implemented since taking on his CEO role [38:15 – 40:12] as well as his goals for the next 3-5 years [40:13 – 41:13]. Larry then addresses how he has managed the business through a challenging COVID environment [41:14 – 43:37], discusses GE’s commitment to be carbon neutral by 2030 [43:38 – 45:07] and gives an update on the work to reduce GE Capital [45:08 – 47:14]. Finally, Larry shares his outlook for GE as a business and what makes him most excited as a (significant!) owner of the stock [47:15 – 48:17].

  continue reading

26 afleveringen

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