Good to Great. Built to Last (an enduring great company), your company must preserve the Core while Stimulating Progress, since change is the only constant in life. From the author of Built to Last, Good to Great outlines a model for turning a good, average or even mediocre company into a great one. The book includes a useful model which brings all the theory together in a meaningful and memorable way. He ends off the book with a detailed list of conceptual links between Good to Great and Built to Last, and some Q&As on common questions and clarifications asked about the Good to Great ideas. Check out our Good to Great summary bundle or get a copy of the book for more details! Jul 07, 2019 Good to Great PDF is a management related book which is written by Jim Collins. The book was published in the United States in 2001. It sold 4 million copies which are quite unexpected for a business book. The main theme of this book revolves around corporate strategy and their use in. Good to Great by Jim Collins Cliff Notes Max Hodgen Chapter 1 ‐ Good is the Enemy of Great Theme of the book – Discovering what made good companies great.Phase 1: The Search A six month long financial analysis looking for companies that showed the following basic pattern: 15.
Author | Jim C. Collins |
---|---|
Country | United States |
Language | English |
Subject | Corporate strategy |
Genre | Non-fiction |
Publisher | William Collins |
Publication date | October 16, 2001 |
Media type | Hardcover |
Pages | 320 |
ISBN | 978-0-06-662099-2 |
OCLC | 46835556 |
658 21 | |
LC Class | HD57.7 .C645 2001 |
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, 2001. 'Greatness' is defined as financial performance several multiples better than the market average over a sustained period. Using tough benchmarks, Collins and his research team identified a set of elite companies that made the leap to great results and sustained those results for at least fifteen years. How great? After the leap, the good-to-great companies generated cumulative stock returns that beat the general stock market by an average of seven times in fifteen years, better than twice the results delivered by a composite index of the world's greatest companies, including Coca-Cola, Intel, General Electric, and Merck. Collins finds the main reason certain companies become great is they narrowly focus the company’s resources on their field of key competence.
The book was a bestseller, selling four million copies and going far beyond the traditional audience of business books.[1]
Writing[edit]
Collins used a large team of researchers who studied '6,000 articles, generated more than 2,000 pages of interview transcripts and created 384 megabytes of computer data in a five-year project'.[2] Top members of this research team were:
- Brian J.Bagley
- Lane Hornung
- Vicki Mosur Osgood
- Scott Cederberg
- Christine Jones
- Alyson Sinclair
- Anthony J.Chirikos
- Scott Jones
- Peter Van Genderen
- Jenni Cooper
- Stefanie A.Judd
- Paul Weissman
- Duane C.Duffy
- Brian C.Larsen
- Leigh Wilbanks
- Eric Hagen
- Weijia (Eve) Li
- Amber L.Young
- Morten T.Hansen
- Nicholas M.Osgood
Seven characteristics of companies that went from 'good to great'[edit]
- Level 5 Leadership: Leaders who are humble, but driven to do what's best for the company.
- First Who, Then What: Get the right people on the bus, then figure out where to go. Find the right people and try them out in different seats on the bus (different positions in the company).
- Confront the Brutal Facts: The Stockdale paradox—Confront the brutal truth of the situation, yet at the same time, never give up hope.
- Hedgehog Concept: Three overlapping circles: What lights your fire ('passion')? What could you be best in the world at ('best at')? What makes you money ('driving resource')?
- Culture of Discipline: Rinsing the cottage cheese.
- Technology Accelerators: Using technology to accelerate growth, within the three circles of the hedgehog concept.
- The Flywheel: The additive effect of many small initiatives; they act on each other like compound interest.
Great companies[edit]
Collins finds eleven examples of 'great companies' and comparators, similar in industry-type and opportunity, but which failed to achieve the good-to-great growth shown in the great companies:
Great Company | Comparator |
Abbott Laboratories | Upjohn |
Circuit City Stores | Silo |
Fannie Mae | Great Western Bank |
Gillette Company (now a Procter & Gamble brand) | Warner-Lambert Co |
Kimberly-Clark | Scott Paper Company |
Kroger | A&P (declared bankruptcy in 2010 and 2015; all supermarkets sold or shut down in 2015) |
Nucor | Bethlehem Steel |
Philip Morris | R. J. Reynolds |
Pitney Bowes | Addressograph |
Walgreens | Eckerd |
Wells Fargo | Bank of America |
Unsustained Companies[edit]
Collins includes 6 examples of companies that did not sustain their change to greatness. These companies, '... are looked at separately as a clump':[3]
Unsustained Comparisons |
Burroughs |
Chrysler |
Harris |
Hasbro |
Rubbermaid |
Teledyne |
Response[edit]
The book was 'cited by several members of The Wall Street Journal's CEO Council as the best management book they've read.'[4]
Publishers Weekly called it 'worthwhile', although 'many of Collins' perspectives on running a business are amazingly simple and commonsense'.[2] Similarly Holt and Cameron state the book provides a 'generic business recipe' that ignores 'particular strategic opportunities and challenges.'[5]
Steven D. Levitt noted that some of the companies selected as 'great' have since gotten into serious trouble, such as Circuit City and Fannie Mae, while only Nucor had 'dramatically outperformed the stock market' and 'Abbott Labs and Wells Fargo have done okay'. He further states that investing in the portfolio of the 11 companies covered by the book, in the year of 2001, would actually result in underperforming the S&P 500.[6] Levitt concludes that books like this are 'mostly backward-looking' and can't offer a guide for the future.'[7]
Collins reaffirmed that 'The books never promised that these companies would always be great, just that they were once great.'
See also[edit]
Good To Great Pdf Book Review
References[edit]
- ^Bryant, Adam (May 23, 2009). 'For This Guru, No Question Is Too Big'. New York Times.
- ^ ab'GOOD TO GREAT: Why Some Companies Make the Leap... And Others Don't (Review)'. September 3, 2001. Retrieved 2012-07-13.
- ^http://www.audiobooks.com/audiobook/good-to-great-why-some-companies-make-the-leap-and-others-dont/83046
- ^Alan Murray (2010). The Wall Street Journal Essential Guide to Management. New York: HarperCollins. p. 11. ISBN978-0-06-184033-3.
- ^Holt, Douglas; Cameron, Douglas (2010). Cultural Strategy. Oxford University Press. ISBN978-0-19-958740-7.
- ^http://blog.asmartbear.com/business-advice-plagued-by-survivor-bias.html
- ^Levitt, Steven D. (2008-07-28). 'From Good to Great … to Below Average'. Freakonomics.
External links[edit]
Good To Great Free Ebook
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