How difficult a challenge did welch face in 1981?

In 1981, Jack Welch faced the significant challenge of revitalizing General Electric (GE) during a period of economic recession and increased competition. The company was struggling with bureaucratic inefficiencies and stagnant profits. Welch implemented a rigorous management overhaul, focusing on streamlining operations, cutting costs, and fostering a performance-driven culture, which ultimately transformed GE into a more dynamic and profitable organization. His decisive actions during this challenging time set the stage for GE's remarkable growth in the following years.