Good To Great: Why Some Companies Make the Leap...And Others Don't Hardcover – Oct 16 2001
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Five years ago, Jim Collins asked the question, "Can a good company become a great company and if so, how?" In Good to Great Collins, the author of Built to Last, concludes that it is possible, but finds there are no silver bullets. Collins and his team of researchers began their quest by sorting through a list of 1,435 companies, looking for those that made substantial improvements in their performance over time. They finally settled on 11--including Fannie Mae, Gillette, Walgreens, and Wells Fargo--and discovered common traits that challenged many of the conventional notions of corporate success. Making the transition from good to great doesn't require a high-profile CEO, the latest technology, innovative change management, or even a fine-tuned business strategy. At the heart of those rare and truly great companies was a corporate culture that rigorously found and promoted disciplined people to think and act in a disciplined manner. Peppered with dozens of stories and examples from the great and not so great, the book offers a well-reasoned road map to excellence that any organization would do well to consider. Like Built to Last, Good to Great is one of those books that managers and CEOs will be reading and rereading for years to come. --Harry C. Edwards
From Publishers Weekly
In what Collins terms a prequel to the bestseller Built to Last he wrote with Jerry Porras, this worthwhile effort explores the way good organizations can be turned into ones that produce great, sustained results. To find the keys to greatness, Collins's 21-person research team (at his management research firm) read and coded 6,000 articles, generated more than 2,000 pages of interview transcripts and created 384 megabytes of computer data in a five-year project. That Collins is able to distill the findings into a cogent, well-argued and instructive guide is a testament to his writing skills. After establishing a definition of a good-to-great transition that involves a 10-year fallow period followed by 15 years of increased profits, Collins's crew combed through every company that has made the Fortune 500 (approximately 1,400) and found 11 that met their criteria, including Walgreens, Kimberly Clark and Circuit City. At the heart of the findings about these companies' stellar successes is what Collins calls the Hedgehog Concept, a product or service that leads a company to outshine all worldwide competitors, that drives a company's economic engine and that a company is passionate about. While the companies that achieved greatness were all in different industries, each engaged in versions of Collins's strategies. While some of the overall findings are counterintuitive (e.g., the most effective leaders are humble and strong-willed rather than outgoing), many of Collins's perspectives on running a business are amazingly simple and commonsense. This is not to suggest, however, that executives at all levels wouldn't benefit from reading this book; after all, only 11 companies managed to figure out how to change their B grade to an A on their own.
Copyright 2001 Cahners Business Information, Inc.See all Product Description
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Collins says great companies are like hedgehogs in that they stick to what they know and can do well. Collins says when a fox attacks a hedgehog the hedgehog curls into a prickly ball and the attacking fox must leave it alone. Then, the fox runs around and tries another point of attack and never learns. The hedgehogs only needs to do one thing that works well and consistently.
In short, after much research and writing, Collins finds the key to business success is functioning within the intersection of three circles.
The first circle represents an endeavor at which your company has the potential to be the best in the world. The second circle represents what your company can feel passionate about. The third circle represents a measure of profitability that can drive your economic success. You must choose to do something that's profitable and know how to focus upon that profitability.
To find the circles, Collins makes the excellent point that you must begin with the right people. Collins emphasizes that the people must come before you decide exactly how your company will achieve success.
We learn that in great companies there is often heated debate about what's best for the company. The culture of great companies is open in the sense that the truth will be heard.Read more ›
In Collins' study to be considered "great," a company's stock had to earn more than triple the general stock market for fifteen consecutive years. The research found seven keys common with the eleven companies, which were able to make the "Good to Great" transition:
1. LEVEL FIVE LEADERSHIP - They had leaders who were a paradoxical blend of personal humility and professional will.
2. FIRST WHO...THEN WHAT - People are not the most important asset. The right people are.
3. CONFRONT THE BRUTAL FACTS - They maintained unwavering faith that they would prevail in the end, and at the same time the discipline to confront the most brutal facts of the current reality.
4. THE HEDGEHOG CONCEPT - Their core business was that at which they could be the best in the world.
5. THE CULTURE OF DISCIPLINE - When a company employs disciplined people hierarchy, bureaucracy, and excessive controls are not necessary.
6. TECHNOLOGY ACCELERATORS - Technology by itself is never a primary, root cause of either greatness or decline.
7. THE FLYWHEEL AND THE DOOM LOOP - Good-to-great transformation never happened in one fell swoop but as a relentless push to breakthrough and beyond.Read more ›
So I finished the book Good to Great on the weekend and I have been working through some of the ideas all week' pretty solid material in there. I would strongly recommend anyone in business to check it out.
Here are my highlights from the book, (kinda like a grade 5 book report) these are the main points that stuck out to me as it pertains to my business.
~ Business is like a bus, you have to bring the right people on the bus, that also means getting the wrong people off the bus. Once you have the right on and the wrong off, at that point you can figure out where people will sit. Hire the best possible people regardless of their skill sets, skills can be taught but quality character is tough to find.
~ You need to be doing something you are passionate about
~ You need to be doing something that you can be the best in the world at
~ You need to build a culture of discipline. This means having a to do list and a to dont list.
~ Once you have a clear vision of what you want to accomplish, pursue it relentlessly, make decisions according to what will get you there' and keep going. Great opportunities will present themselves, but if they don't line up with where you are going, they will kill the momentum of your forward direction.
~ What you don't do is just as important as what you do
So that is what I think anyway' pretty simple, but what a great book' it is sitting in my head like it weighs 400 lbs.
Most recent customer reviews
This book has been on my to read list for a long time partially due to the hoopla and plump ratings it had received. Read morePublished 2 months ago by Alexandru Neamtiu
Amazing. Hands down best business book I've read all year. I've just purchased built to last as well. This should be required reading for business leaders.Published 2 months ago by Nibs
Fantastic read, engaging and a great road map for anyone who is interested in making their companies better.Published 7 months ago by Bernard Yeung
I bought this book to better understand the makings of great companies in the modern world. While this was the book's main focus, the findings focused around qualitative traits of... Read morePublished 8 months ago by Charlie
Great examples of succesful stores! Lacking financial details to back up claims.Published 8 months ago by DEB
Must Read Book about business. To stay on my shelf, I have a feeling that I will be getting back to some of its chapters in future.Published 9 months ago by casualwonder
Great book! I highly recommend it for anyone who wants to know how great companies transformed from good to becoming great.Published 9 months ago by Elliot A. Wilson
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