Jack Welch may not longer be CEO and chairman of GE, but he does still have some opinions on how to run a business, especially during tough times. At enVISIION 2002, the users conference for Manugistics' supply chain software solutions, Welch advised attendees to use the current downturn as an opportunity to leap frog over competitors by investing in new equipment, software, and products.

"You don't jump on fads, and you don't try to please all these constituencies. You have to get a strategy that you're comfortable with, and then deliver results. That's all that counts," he concluded.