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How difficult a challenge did Welch face in 1981. How effectively did he take charge?
Answer – When Welch joined as a CEO of General Electric in the year 1981, there existed a recession in the United states Economy. The problem of recession led to the strong rate of dollar and high interest rates. This also led to the ultimate and severe problem of recession. But Welch took up this challenge in a very organized manner. He wanted that even in the difficult time, they should keep their moral spirits high and result in the progress of the company. He introduced a series of changes for the next five years:
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