Transforming From Good To Great Company By Ravinder Tulsiani

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A number of key requirements and underlying variables for turning a good company into a great one.

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Transforming From Good To Great Company By Ravinder Tulsiani

  1. 1. Visit:www.TheCorporateTrainer.ca Visit www.TheCorporateTrainer.ca for more presentations on Corporate Training
  2. 2. Six Key Elements ofGood to Great Company
  3. 3. Element 1 :Level 5 Leadership
  4. 4. Element 2 :First Who…..then What
  5. 5. Element 3 :Confront the Brutal Facts(Yet Never Lose Faith)
  6. 6. Element 4 :The Hedgehog Concept
  7. 7. Element 5 :A Culture ofDiscipline
  8. 8. Element 6:TechnologyAccelerators
  9. 9. Element 1:Level 5 Leadership
  10. 10. Level 5 LeadershipLevel 5: Good-to-Great LeaderLevel 4: Effective LeaderLevel 3: Competent ManagerLevel 2: Contributing Team MemberLevel 1: Highly Capable Individual
  11. 11. Level 5 leaders display acompelling modesty, are self-effacing and understated.
  12. 12. In contrast, two thirds of the comparison companies had leaders with gargantuanpersonal egos that contributed to the demise or continued mediocrity of the company
  13. 13. Level 5 leaders are fanaticallydriven, infected with an incurableneed to produce sustained results.
  14. 14. Element 2:First Who…Then What
  15. 15. The good-to-great leaders began thetransformation by first getting the rightpeople on the bus (and the wrongpeople off the bus) and then figured outwhere to drive it
  16. 16. The key point ofthis element isnot just the ideaof getting theright people onthe team.
  17. 17. The key point is that "who" questions come before "what" decisions—before vision, before strategy, beforeorganization structure, before tactics. First who, then what — as a rigorous discipline, consistently applied.
  18. 18. Element 3:Confront the Brutal Fact
  19. 19. All good-to-great companies beganthe process finding a path togreatness by confronting thebrutal facts of their current reality
  20. 20. A key psychology for leading from good to great is the Stockdale Paradox : Retain absolute faith that you can and will prevail in the end, regardless of the difficulties, and at the same time confront the most brutal facts of your current reality, whatever they might be.
  21. 21. A primary task in taking a company fromgood to great is to create a culture wherein people have a tremendous opportunity to be heard and, ultimately, for the truth to be heard
  22. 22. Element 4:Hedgehog Concept
  23. 23. The good-to-great companies are more like hedgehogs — simple, dowdy creatures that know "one big thing" and stick to it. The comparison companies are more like foxes —crafty, cunning creatures that know many things yet lack consistency.
  24. 24. It took four years on average for the good-to-great companies to get a Hedgehog Concept.
  25. 25. You absolutely do not need to be in agreat industry to produce sustainedgreat results. No matter how bad theindustry, every good-to-greatcompany figured out how to producetruly superior economic returns.
  26. 26. Element 5:A Culture of Discipline
  27. 27. The good-to-great companiesappear boring and pedestrian looking in from the outside, but upon closer inspection, theyre full of people who display extreme diligence and a stunning intensity
  28. 28. A culture of discipline isnot just about action. It isabout getting disciplined people who engage indisciplined thought and who then take disciplined action.
  29. 29. A culture of disciplineinvolves a duality. On the one hand, it requires people who adhere to a consistent system; yet,on the other hand, it gives people freedom and responsibility within theframework of that system.
  30. 30. Element 6:Technology Accelerators
  31. 31. The key question about any technology is:does the technology fit directly with yourHedgehog Concept? If yes, then you needto become a pioneer in the application ofthat technology. If no, then you can settlefor parity or ignore it entirely.
  32. 32. The good-to-great companies usedtechnology as an accelerator ofmomentum, not a creator of it.None of the good-to-greatcompanies began theirtransformations with pioneeringtechnology, yet they all becamepioneers in the application oftechnology once they grasped howit fit with their strategies.
  33. 33. Source of Reference:Jim Collins, Good to Great : Why Some Companies Make the Leap…and OthersDon’t, Harper Business

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