the impressive financial results include increase retuern on equity, profit margin, and earnings. Executing his strategy has been wrenching, especially for employee morale. Those in anointed businesses appear excited; however, employees in the questionable units have either been laid off or experienced slumping morale. The results should not have surprised anyone-Welch made it clear that GE managers had to adhere to plans and policies that stressed unsurpassed quality at scrooge-like cost to capture the required market share. if they failed, they went.