The Myth of Revolution: Nor can acquisitions provide a stimulus for greatness: For example, before Wells Fargo understood its Hedgehog Conceptits leaders had tried to make it a global bank: You need to have the right people in the right positions.
By further studying the behaviors and attitudes of so-called Level 5 leaders, Collins found that many of those classified in this group displayed an unusual mix of intense determination and profound humility.
And understand how to get there. The Myth of Fear-Driven Change: On average, it took four years for the good-to-great companies to crystallize their Hedgehog Concepts.
The surprising good-to-great list included such unheralded companies as Abbott Laboratories 3. He has performed endless hours of research into companies and leaders aiming to understand exactly what separates the best from the rest.
There was no launch event, no tag line, no programmatic feel whatsoever. No one pays attention to it. In contrast, the doom loop is characterized by reactive decision-making, an overextension into too many diverse areas of concentration, following short-lived trends, frequent changes in leadership and personnel, loss of morale, and disappointing results.
With fanatical adherence to that simple idea, Wells Fargo made the leap from good results to superior results.
Copyright Super Summary. He recommends moving potentially failing employees and managers to new positions, but not hesitating to remove personnel who are not actively contributing. Celebrity CEOs, at those same decision points, are more likely to favor self and ego over company and work.
In the journey from good to great, defining your Hedgehog Concept is an essential element. In chapter seven, Collins warns that there is a danger in turning to technology as a cure for problems in a company.
What that objective is can be very specific or somewhat ambiguous. You keep pushing steadily. Run a bank like a business, with a focus on the western United States, and consistently increase profit per employee.
Then, they can begin to apply the principles of longevity that are set forth in Built to Last. Hewing to both of these guidelines, Collins claims, will likely save time, effort, and resources in the long-term.
Collins goes on to identify "Level 5 leadership" as a common characteristic of the great companies assessed in the study. Great vision with mediocre people still produces mediocre results.
The Flywheel and the Doom Loop In this chapter, Collins describes two cycles that demonstrate the way that business decisions tend to accumulate incrementally in either an advantageous or a disadvantageous manner.
You keep pushing, and the flywheel begins to move a bit faster. He presents this as a four-step process.Jim Collins’s work of nonfiction Good to Great: Why Some Companies Make the Leap and Others Don’t far outsold the typical business oriented book with millions of copies in print.
It did this by appealing to the mainstream and not just the business community. Jim Collins is author or coauthor of six books that have sold in total more than ten million copies worldwide, including the bestsellers Good to Great, Built to Last, and How the Mighty Fall.
Jim began his research and teaching career on the faculty at Stanford Graduate School of Business, where he received the Distinguished Teaching Award in /5(6).
Good to Great: Why Some Companies Make the Leap And Others Don’t - A Complete Summary Good to Great is a book written by the American author Jim Collins. Jim is a lecturer and business consultant.
His lectures focus on the subjects of business sustainability and economic growth/5(10). Summary and reviews of Good To Great by Jim Collins, plus links to a book excerpt from Good To Great and author biography of Jim Collins.
Good to Great: Why Some Companies Make the Leap and Others Don't is a management book by Jim C. Collins that describes how companies transition from being good companies to great companies, and how most companies fail to make the transition.
The book was published on October 16, An Open Challenge: Applying Jim Collins' Good to Great - Asking the Tough Questions Business Practices.Download