Good to Great by Jim Collins

Description

In Good to Great, Jim Collins explores how some companies make a leap from good to great. Collins and his research team conducted a comprehensive study of companies that went from ordinary to extraordinary success. Bottom line: Here are the lessons learned in simplified form:

Level 5 Leadership: Great companies often have Level 5 leaders—humble, yet driven; they subordinate their own agendas to the greater good of the company.

First Who, Then What: Great companies start by getting the right people on the bus (the team) and then think through where to drive the bus (strategy).

Face the Brutal Facts: Great companies confront reality, encourage openness and candor but remain believing they can win.

Hedgehog Concept: The concept involves what the company can be best at, what drives its economic engine, and what it is passionate about. The best intersection of these three creates long term success.

Culture of Discipline: Companies that transition from good to great develop a discipline culture where employees self-motivate and are focused on results rather than being driven by the hierarchy of control.

Technology Accelerators: Although technology is important, great companies apply technology to enhance their strengths rather than their reliance on technology itself being the prime moving force behind success.

The Flywheel Effect: Successes are achieved through the accumulation of lots of small, incremental things over time, leading to the development of greater momentum that compels further growth and improvement.

As indicated by Collins, good-to-great companies do not overnight get there, rather they find a proper way with the right kind of mindset and approach. The books provide insights and frameworks that not only help businesses progress but may also be applied to improving and exceptional performance by individuals and organizations.