1980s Business Icons: Wisdom, Business and History
Great Music, Ugly Fashion and Iconic Business Figures
Ah, the 80s. A time of amazing music, big hair, and ugly neon fashion. But it was also time of amazing business icons, executives who were masters at their trade and ran some amazing organizations (at the time). Here's some of my favorite business icons from that time, a little history and some words of wisdom. Hopefully, a little Friday inspiration.
Jack Welch - “Control your destiny, or someone else will”.
Jack Welch was born in 1935 in Peabody, Massachusetts, and was the son of a railroad conductor and a homemaker. After graduating from the University of Massachusetts, he went on to earn both a Master of Science degree in chemical engineering and a Ph.D. in the same field from the University of Illinois. Welch’s career began with General Electric in 1960 and over the next 20 years, his leadership and management skills earned him a reputation as one of the most successful corporate executives in America. He was appointed Chairman and CEO of GE in 1981 and, during his two decades at the helm, the company saw profits rise by 4,000%. Welch was widely credited with transforming GE from a smokestack industrial giant into a leaner, more innovative and profitable high-tech conglomerate. He retired from GE in 2001, but his legacy as one of the most successful and influential business executives of the 1980s lives on.
Lee Iacocca - “Lead, follow, or get out of the way”.
Lee Iacocca was born in 1924 in Allentown, Pennsylvania, to Italian immigrants. He graduated from Lehigh University in 1945 and went on to earn a master’s degree in engineering from Princeton. After working briefly at Ford Motor Company, he joined the Chrysler Corporation in 1978, where he became CEO and president in 1979. His leadership turned the company around and he was credited with saving Chrysler from bankruptcy in the 1980s. He was also responsible for the launch of the K-car and minivan, two of the most successful vehicles of the decade. Iacocca was also a vocal advocate for the automotive industry, lobbying for government funding to help the industry survive. He retired from Chrysler in 1992, but his legacy as one of the most successful and influential business executives of the 1980s lives on.
Rupert Murdoch - “Never take your eyes off the prize”.
Born in Australia in 1931, Rupert Murdoch was the son of a journalist and newspaper proprietor. After graduating from Oxford University, he inherited his father’s newspaper business and expanded it into a global media empire. By the 1980s, Murdoch’s News Corporation was a dominant force in the media industry, with newspapers, magazines, television and film production companies, and satellite television networks. Murdoch’s media empire was instrumental in shaping public opinion in the 1980s and beyond, and his influence in the media industry continues to this day.
Ray Kroc - “The quality of a leader is reflected in the standards they set for themselves”.
Ray Kroc was born in 1902 in Oak Park, Illinois, and was the son of a Czech-American family. After working as a milkshake mixer salesman, he opened the first McDonald’s restaurant in 1955 and went on to become the company’s CEO in 1968. Under Kroc’s leadership, McDonald’s went from a small burger joint to a global fast-food giant, with more than 30,000 restaurants in 119 countries by the end of the 1980s. Kroc’s vision and business acumen made McDonald’s one of the most successful and influential companies of the 1980s and beyond.
Bill Gates - “Success is a lousy teacher. It seduces smart people into thinking they can’t lose”.
Bill Gates was born in 1955 in Seattle, Washington, and was the son of a prominent lawyer. After dropping out of Harvard, he co-founded Microsoft in 1975 and went on to become the company’s chairman and CEO in 1980. Gates’s leadership and technological vision transformed Microsoft into one of the most successful and influential companies of the 1980s and beyond. Gates was also a philanthropist, donating billions of dollars to charitable causes. He retired from Microsoft in 2008, but his legacy as one of the most successful and influential business executives of the 1980s lives on.