1) The document summarizes key concepts from Jim Collins' book "Good to Great". It discusses Collins' research analyzing what separated great companies from good companies.
2) Collins identified several factors that helped companies make the leap from good to great, including having Level 5 leadership, confronting brutal facts, and developing a "Hedgehog Concept" of focusing on their economic engine.
3) Technology can help accelerate growth but is not the primary driver of transitioning from good to great. Great companies only adopt technologies that fit within their Hedgehog Concept and become pioneers in applying that technology.
In his previous bestseller, Built to Last, Jim Collins explored what made great companies great and how they sustained that greatness over time.
One point kept nagging him, though — great companies have, for the most part, always been great, while a vast majority of good companies remain just that: good, but not great. What could merely good companies do to become great, to turn long-term weakness into long-term supremacy?
Collins and his team of researchers used strict benchmarks to identify a group of eleven elite companies that made the leap from good to great and sustained that greatness for at least fifteen years. The companies that made the list might surprise you as much as those left off (the likes of Intel, GE
and Coca Cola are nowhere to be found).
The real surprise of Good to Great isn’t so much what good companies do to propel themselves to greatness — it’s why more companies haven’t done the same things more often.
In his previous bestseller, Built to Last, Jim Collins explored what made great companies great and how they sustained that greatness over time.
One point kept nagging him, though — great companies have, for the most part, always been great, while a vast majority of good companies remain just that: good, but not great. What could merely good companies do to become great, to turn long-term weakness into long-term supremacy?
Collins and his team of researchers used strict benchmarks to identify a group of eleven elite companies that made the leap from good to great and sustained that greatness for at least fifteen years. The companies that made the list might surprise you as much as those left off (the likes of Intel, GE
and Coca Cola are nowhere to be found).
The real surprise of Good to Great isn’t so much what good companies do to propel themselves to greatness — it’s why more companies haven’t done the same things more often.
A presentation given on how to move your company/department from good to great. Borrows heavily from the theory of Jim Collins.
If you're looking for great tools to implement Good to Great in your organisation take a look at - http://fiverr.com/expatpat/show-you-great-tools-to-run-your-startup-or-sme
“Can a good company become a great company, and, if so, how?” As managers of non-profit programs, we don’t have formal training in the skills of management. Come with us on a journey to see how the principles outlined in the book, “Good to Great” can help you achieve your objectives.
Execution - The Discipline of getting things done GMR Group
This book was published in the year 2002 and I had read this book at that time. Revisited and read this book again just to evaluate the context. Even today the context of this book is very relevant.
Too many leaders fool themselves into thinking their companies are well run. They are like the parents in Garrison Keillor’s fictional Lake Wobegon, all of whom think their children are above average. Then the top performers at Lake Wobegon High school arrive at the University of Minnesota or Colgate or Princeton and find out they are average or even below average. Similarly , when corporate leaders start understanding how the GE’s and Emerson Electrics of this world are run- how superbly they get things done- they discover how far they have to go before they become World class in Execution.
Here is the fundamental problem: People think of execution as the tactical side of business, something leaders delegate while thy focus on the perceived “bigger” issues. This idea is completely wrong. Execution is not just tactics—it is a discipline and a system. It has to be built into a company’s strategy, its goals, and its culture. And the leader of the organization must be deeply engaged in it. He can delegate its substance.
We talk to many leaders who fall victim to the gap between promises they’ve made and results their organizations delivered. They frequently tell us they have a problem with accountability—people aren’t doing the things they’re supposed to do to implement a plan. They desperately want to make changes of some kind, but what do they need to change? They don’t know.
Execution is a specific set of behaviors and techniques that companies need to master in order to have competitive advantage.
Read this Summary ……
Jim Collins' book Good to Great has been around awhile, but the principles are still valid. When someone speaks about "changing the system," this is the first step along that path.
Drawing upon a six-year research project at the Stanford University Graduate School of Business, James C. Collins and Jerry I. Porras took eighteen truly exceptional and long-lasting companies and studied each in direct comparison to one of its top competitors. They examined the companies from their very beginnings to the present day -- as start-ups, as midsize companies, and as large corporations. Throughout, the authors asked: "What makes the truly exceptional companies different from the comparison companies and what were the common practices these enduringly great companies followed throughout their history?"
Filled with hundreds of specific examples and organized into a coherent framework of practical concepts that can be applied by managers and entrepreneurs at all levels, Built to Last provides a master blueprint for building organizations that will prosper long into the 21st century and beyond.
James C. "Jim" Collins, III (born 1958, Boulder, Colorado) is an American business consultant, author, and lecturer on the subject of company sustainability and growth.
Jim Collins frequently contributes to Harvard Business Review, Business Week, Fortune and other magazines, journals, etc.
A presentation given on how to move your company/department from good to great. Borrows heavily from the theory of Jim Collins.
If you're looking for great tools to implement Good to Great in your organisation take a look at - http://fiverr.com/expatpat/show-you-great-tools-to-run-your-startup-or-sme
“Can a good company become a great company, and, if so, how?” As managers of non-profit programs, we don’t have formal training in the skills of management. Come with us on a journey to see how the principles outlined in the book, “Good to Great” can help you achieve your objectives.
Execution - The Discipline of getting things done GMR Group
This book was published in the year 2002 and I had read this book at that time. Revisited and read this book again just to evaluate the context. Even today the context of this book is very relevant.
Too many leaders fool themselves into thinking their companies are well run. They are like the parents in Garrison Keillor’s fictional Lake Wobegon, all of whom think their children are above average. Then the top performers at Lake Wobegon High school arrive at the University of Minnesota or Colgate or Princeton and find out they are average or even below average. Similarly , when corporate leaders start understanding how the GE’s and Emerson Electrics of this world are run- how superbly they get things done- they discover how far they have to go before they become World class in Execution.
Here is the fundamental problem: People think of execution as the tactical side of business, something leaders delegate while thy focus on the perceived “bigger” issues. This idea is completely wrong. Execution is not just tactics—it is a discipline and a system. It has to be built into a company’s strategy, its goals, and its culture. And the leader of the organization must be deeply engaged in it. He can delegate its substance.
We talk to many leaders who fall victim to the gap between promises they’ve made and results their organizations delivered. They frequently tell us they have a problem with accountability—people aren’t doing the things they’re supposed to do to implement a plan. They desperately want to make changes of some kind, but what do they need to change? They don’t know.
Execution is a specific set of behaviors and techniques that companies need to master in order to have competitive advantage.
Read this Summary ……
Jim Collins' book Good to Great has been around awhile, but the principles are still valid. When someone speaks about "changing the system," this is the first step along that path.
Drawing upon a six-year research project at the Stanford University Graduate School of Business, James C. Collins and Jerry I. Porras took eighteen truly exceptional and long-lasting companies and studied each in direct comparison to one of its top competitors. They examined the companies from their very beginnings to the present day -- as start-ups, as midsize companies, and as large corporations. Throughout, the authors asked: "What makes the truly exceptional companies different from the comparison companies and what were the common practices these enduringly great companies followed throughout their history?"
Filled with hundreds of specific examples and organized into a coherent framework of practical concepts that can be applied by managers and entrepreneurs at all levels, Built to Last provides a master blueprint for building organizations that will prosper long into the 21st century and beyond.
James C. "Jim" Collins, III (born 1958, Boulder, Colorado) is an American business consultant, author, and lecturer on the subject of company sustainability and growth.
Jim Collins frequently contributes to Harvard Business Review, Business Week, Fortune and other magazines, journals, etc.
Good to Great _book -how good companies made itJulioApaez
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2. CHAPTER 1
GOOD IS THE ENEMY OF GREAT
• Phase 1: Establish Team: The teams consist of four to six people teams have to identify the
company with good to great pattern in at least 15 years.
• Phase 2: Comparison: Most important step in the entire research effort: Contrasting the good-
to-great companies to a carefully selected set of "comparison companies."
3. CHAPTER 1
GOOD IS THE ENEMY OF GREAT
• Phase 3:The Blackbox of Collected Data
1) Larger-than-life, celebrity leaders who ride in from the outside are negatively correlated
with taking a company from good to great.
2) No systematic pattern linking specific forms of executive compensation.
3) Strategy per se did not separate the good-to-great companies from the comparison
companies.
4) Focused equally on what not to do and what to stop doing.
5) Technology can accelerate a transformation, but technology cannot cause a
transformation.
6) Greatness is not a function of circumstance. Greatness, it turns out, is largely a matter of
conscious choice.
4. CHAPTER 1
GOOD IS THE ENEMY OF GREAT
• Phase 4: Chaos to Concept:
“Every primary concept in the final framework showed
up as a change variable in 100 percent of the good-to-
great companies and in less than 30 percent of the
comparison companies during the pivotal years.”
5. CHAPTER 2
LEVEL 5 LEADERSHIP”YOU CAN ACCOMPLISH ANYTHING IN LIFE, PROVIDED THAT YOU DO NOT M IND WHO GETS THE
CREDIT”
Level 5 Leaders
• Dawren Smith of Kimberly Clark
• Colman Mockler of Gillette
• David Maxwell of Fannie Mae
Biggest Dog Syndrome
• Al Dunlap of Scott Paper
• Lee Laccoca of Chrysler
Jist of the Story
• Brave, because sometimes it requires
abnormal decisions, such cases of George
Cain of Abbott Laboratory to remove all
nepotism.
• Level 5 leaders always put the organization as
the number one priority and always think
about the growth of the company.
• They are developed at the time of transition
and organization should be open to gulp the
powerful ideas.
6. CHAPTER 2
LEVEL 5 LEADERSHIP”YOU CAN ACCOMPLISH ANYTHING IN LIFE, PROVIDED THAT YOU DO NOT M IND WHO GETS THE
CREDIT”
The window and the Mirror
• Comparison of Bethlehem Steel V.S. Nucor
- Import of Steel
• Comparison of Regular leader and Level 5 Leader
- Pointing Fingers
7. • First who..Then what?
• Dick Cooley ofWells Fargo
• Wells FargoVS Bank of America
• David Maxwell of Fannie Mae
CHAPTER 3
FIRST WHO… THEN WHAT
8. CHAPTER 3
FIRST WHO… THEN WHAT
A Counter Analysis of A “Genius with a thousand soldiers”
Case Study of
Henry Singleton
of Teledyne
There is no linking
between executive
compensation
Rigorous
When in Doubt
Don’t Hire
Need to change
people? Do it
Best people on
Opportunities.
Not Problems
9. C H A P T E R 3
F I R S T W H O …
T H E N W H AT
10. • A&PV.S. KROGER
CHAPTER 4
CONFRONT THE BRUTAL FACTS
YET NEVER LOSE FAITH
Facts are better than dreams
• Good to great companies did not have a perfect track record.
• But on the whole, they made many more good decisions than the comparison companies.
• Even more important on the really big choices such as Kroger’s decision to thrown all its
resources into the task of converting its entire system to the superstore concept, they were
remarkably on target.
11. CHAPTER 4
CONFRONT THE BRUTAL FACTS
YET NEVER LOSE FAITH
Let theTruth be Heard
To accomplish this, 4 basic practices must
engaged:
1. Lead with question, not answer
2. Engage in dialogue and debate, not coercion
3. Conduct autopsies, without blame
4. Build red flag mechanisms that turn information
into information that cannot be ignored.
12. THE STOCKDALE PARADOX
• Admiral Jim Stockdale
• This is a very important lesson.You must never confuse faith that you will prevail in the end—
which you can never afford to lose—with the discipline to confront the most brutal facts of
your current reality, whatever they might be.“ – Jim Stockdale
13. • HedgehogVS Fox
• Walgreens (9 stores/mile) V.S. Eckerd
CHAPTER 5
THE HEDGEHOG CONCEPT
15. CHAPTER 5
THE HEDGEHOG CONCEPT
Three Circles of Simplicity:
1) At what you can best In the world
• Possess Core competence?You might not be the best.
• You might be best at something you don’t even know it yet.
Hedgehog Concept:An understanding of what you
can do and what you cannot the best!
Not a goal or a business Strategy
16. CHAPTER 5
THE HEDGEHOG CONCEPT
Three Circles of Simplicity:
2) What drives your economic engine?
• Determination of the ‘X’ factor in your PROFIT x ‘X’ statement
• This denominator can be subtle and can be unobvious sometimes.
Hedgehog Concept: It is an extensive inherently
iterative process, not an event.
Not a goal or a business Strategy
17. CHAPTER 5
THE HEDGEHOG CONCEPT
Three Circles of Simplicity:
3) What are you passionate about?
• Good-to-great companies only did what they are passionate about. Eg. Pitney
Brows
• No need to motivate people on board
Hedgehog Concept: Discover what ignites your
passion
Not a goal or a business Strategy
18. • Mechanism/Guide to Hedgehog Concept
CHAPTER 5
THE HEDGEHOG CONCEPT
THE
COUNCIL
Dialogue and debate,
Guided by the three circles
Executive Decisions
Autopsies and analysis
Guided by the three circles
Ask Question,
Guided by the three circles
20. CHAPTER 6
A CULTURE OF DISCIPLINE
1. Build a culture around the idea of freedom and responsibility, within a
framework.
2. Fill that culture with self-disciplined people who are willing to go to
extreme lengths to fulfill their responsibilities.They will "rinse their
cottage cheese”.
3. Don't confuse a culture of discipline with a tyrannical disciplinarian.
4. Adhere with great consistency to the Hedgehog Concept, exercising
an almost religious focus on the intersection of the three circles. Equally
important, create a "stop doing list" and systematically unplug anything.
21. • PioneeringTechnology? Be in the hedgehog concept
• RelevantTechnology = Fanatical and Creative (Gillette)
CHAPTER 7
TECHNOLOGY ACCELERATORS
TECHNOLOGY CANNOT..
⚫ Make a company great
⚫ Create sustained results
⚫ Technology without a clear Hedgehog Concept, and without the discipline
to stay within the three circles, cannot make a company great.”
⚫ Eg. Chrysler and computer-aided design, Harris and printing electronics,
Rubbermaid and manufacturing
DrugStore.comVS Walgreens
22. CHAPTER 7
TECHNOLOGY ACCELERATORS
⚫ Good-to-great companies think differently about
technology
⚫ Good-to-great companies only use a technology
if it fits within their Hedgehog Concept and then
become a pioneer in the application of that
technology
⚫ Technology is only an accelerator of momentum,
not a creator of momentum
23. CHAPTER 8
THE FLYWHEEL EFFECT
A huge flywheel 30m in radius, 2m thick and 5000 pounds in weight