Welch also defended certain practices that he has instituted at GE-including making public examples of those who cheat the company and consistently firing under-performers.
"You preach it every day and in every language. We fight every day to get the bad apple out," he said of those who try to take advantage of the company.
"You've got to be constantly grading and raising the bar. We keep too many people who aren't needed on the payroll too long," he added.
When asked by Killick how he deals with the stress of running GE, Welch countered by saying that business is not as taxing as it is sometimes made out to be.
"These are pretty great jobs," he said. "You hand around with great people, you play a lot of golf. It's a great life."
The interview with Welch followed an address by Mini Desai and Stephen Moret, who are the presidents of the graduating class. They alternated speaking during the address. The first part of their speech consisted of inside jokes and tales of the agony of waiting for their HBS admission letters.
Desai concluded on a serious note, however, urging graduates to "live honestly and with integrity."
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