Jack Welch, the chairman and CEO of General Electric between 1981 and 2001, told Fortune magazine of March 27, 1989 his six rules, one of which was:
 
“If you don’t have a competitive advantage, don’t compete.”
   
The rule has made many lists of business quotations.
 
   
Wikipedia: Jack Welch
John Francis “Jack” Welch, Jr. (born November 19, 1935) is a retired American business executive, author and chemical engineer. He was chairman and CEO of General Electric between 1981 and 2001. During his tenure at GE, the company’s value rose 4,000%. In 2006, Welch’s net worth was estimated at $720 million. When he retired from GE he took a severance payment of $417 million, the largest such payment in history.
 
Fortune
INSIDE THE MIND OF JACK WELCH
His ideas are simple: Face reality. Communicate clearly. Control your own destiny. But put together, they could rewrite the book on how to run a big company.
(FORTUNE Magazine)
By Stratford P. Sherman REPORTER ASSOCIATE Cynthia Hutton
March 27, 1989
(...)
JACK WELCH’S SIX RULES
—Face reality as it is, not as it was or as you wish it were.
—Be candid with everyone.
—Don’t manage, lead.
—Change before you have to.
—If you don’t have a competitive advantage, don’t compete.
—Control your own destiny, or someone else will.
 
Google Groups: MISN
management principles from Jack welch
Kathirvel Mylswamy
4/8/09
Hello Friends,
 
Jack Welch- 20 years Ceo of CEO, & “Manager of the century” named by Forbes magazine—- his management principles are

1.  An organization’s ability to learn, and translate that learning into action rapidly, is the ultimate competitive advantage.
2.  Be candid with everyone.
3.  Change before you have to.
4.  Control your own destiny or someone else will.
5.  Don’t manage - lead change before you have to.
6.  Face reality as it is, not as it was or as you wish it to be.
7.  Giving people self-confidence is by far the most important thing that I can do. Because then they will act.
8.  Globalization has changed us into a company that searches the world, not just to sell or to source, but to find intellectual capital - the world’s best talents and greatest ideas.
9.  I’ve learned that mistakes can often be as good a teacher assuccess.
10.  If you don’t have a competitive advantage, don’t compete.
   
The Economist
An A-Z of business quotations
Strategy
Oct 19th 2012, 14:40 BY B.R
(...)
“If you don’t have a competitive advantage, don’t compete.”
Jack Welch, Six Rules of Successful Leadership
 
Forbes.com
ENTREPRENEURS 12/18/2012 @ 10:10AM
57 Timeless Quotes for 2013
By Eric T. Wagner
(...)
44 –
“If you don’t have a competitive advantage — don’t compete.” – Jack Welch
 
Tech.co
35 Timeless Motivational Quotes for Entrepreneurs
Ronald Barba @RonaldPBarba
February 23, 2015 2:30 pm
(...)
31. “If you don’t have a competitive advantage – don’t compete.” – Jack Welch
 
Twitter
Nuqul Group
‏@Nuqul
“If you don’t have a competitive advantage don’t compete” @jack_welch #business #quote #quoteoftheday #success #Jo
2:37 AM - 22 Jun 2015