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GOOD TO GREAT By: Jim Collins

Published by Kristian Milem Modified over 9 years ago

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Good to Great AND THE Downtown Development Association of Lincolnton Why Business Thinking is Not the Answer.

Good to Great Why Some Companies Make the Leap... and Others Dont.

Team II Josh Pavlik, Jennifer Rogas, Logan Reynolds, Corbin Ray, Marlee Armstrong, Amy Drake.

Team 5 Katelyn Reed Monica Longer Kristen Hodge Venessa Rodriguez.

Good to Great Companies

An article by Jim Collins. This includes such unnoticed companies like:  Fannie Mae (7.56 times the market)  Wells Fargo (3.99 times the market) 

Good to Great Book by Jim Collins.

Good… The Enemy of Great Applying Jim Collin’s Good to Great to the Fraternity Chapter.

Moving Schools from Good to Great Good to Great Schools Good to Great Schools

TEAM 6 WILL KERLICK MOLLY MURDOCK REECE MACDONALD BRYAN FETTERMAN JOHN FLETCHER Good to Great Chapter 4: Confront the Brutal Facts (But Never Lose Faith)

Ashley Gonzenbach, Brian Byrne, Diana Perkins, Amanda Long

Bunde Walker James Yost Trent Hemann. FIRST WHO…THEN WHAT Initial thoughts: Set new direction Set new vision and strategy for company Then get people.

Good to Great Chapter 6 – A Culture of Discipline

Mamie Dupre Bess Luker Alicia Estrada Ryan Dupriest Taylor Watts.

THE FLYWHEEL AND THE DOOM LOOP Good to Great. Introduction Momentum of the flywheel eventually kicks in after a lot of persistent pushing.

Good to Great Chapter 9 Christopher Cook Chelle Hillis Lindsey Young

Good to Great Article by Jim Collins October 2001

Level 5 Leadership Level 1 – Highly Capable Individual: Makes productive contributions through talent, knowledge, skills, and good work habits Level 2.

T EAM 2 C AITLIN C LARK S TEPHEN M ASSIMI W ILL M AYRATH M ATT V ATANKHAH K ATIE T REVINO.

Chapter 5 The Hedgehog Concept Katie Klingele John Stewart Heather Hignojos.

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Good to Great Article by Jim Collins October 2001 - PowerPoint PPT Presentation

Good to Great Article by Jim Collins October 2001

Good to great article by jim collins october 2001 presenters: samantha bell, brodie pattenden, jj machalski, tea taing, kristine widdifield agenda how change doesn ... – powerpoint ppt presentation.

• Samantha Bell, Brodie Pattenden,
• JJ Machalski, Tea Taing,
• Kristine Widdifield
• How change doesnt happen
• How change does happen
• Disciplined people
• Disciplined thought
• Disciplined action
• The Chicken and the Egg
• No miracle moment
• Chicken in the egg was
• Average company for over 40 years
• 1975 it began to climb, and climb and climb
• Beat the general stock market by 15 times
• How do we pinpoint Walgreens good-to-great transformation?
• The Flywheel Effect
• Right now, your flywheel is at a standstill
• Put your shoulder into it. And push!
• Eventually get some forward movement.
• No longer pushing alone
• The faster you go, the more people you have joining you
• Momentum starts working in your favor
• Arent pushing any harder, but wheel keeps accelerating
• Thats how companies make the transition from good to great
• What happens when companies dont commit to the quiet discipline of slow, progressive change?
• They fall into..
• The DOOM LOOP!
• Companies that fall into the Doom Loop want change over night
• They bring in a new leader, who takes them in a new direction
• See the pattern?
• 1979 Started as consumer products
• 1980 Healthcare
• 1981 Return to consumer products
• 1987 Global pharmaceuticals
• 1990s Return to consumer products
• 2000 Swallowed by Pfizer
• Real people want to contribute to produce real results
• Feel the magic of momentum
• Thats how change really happens.
• Mediocre people equal mediocre results
• If you have the wrong people, nothing else matters
• 14 of 26 executives got off the bus before good to great changes occurred, no questions asked
• Fox and the Hedgehog
• A Greek Parable explains that
• Foxes know many small things
• Hedgehogs know one big thing
• All good to great leaders are hedgehogs
• They ask three piercing questions
• What can we be the best in the world at?
• What is the economic denominator that drives cashflow?
• What are our core people passionate about?
• Initially in global bank, was mediocre
• Switched company philosophy and industry
• New mantra and drive for employees
• Led to success
• Good to Great leaders distinguish themselves
• Decide what not to do
• If it doesnt fit tightly within your Hedgehog Concept, dont do it
• Started in the paper mill industry
• Decided to change focus
• The consumer business was best for the company
• One magazine wrote
• Kimberly-Clark making the switch was a dumb idea
• 21 years later that same magazine wrote as it turns out it was a smart one
• Disciplined People
• Filling the Bus
• Disciplined Thought
• Disciplined Action
• The Stop Doing list

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The Hedgehog Concept

Are you a hedgehog or a fox? In his famous essay “The Hedgehog and the Fox,” Isaiah Berlin divided the world into hedgehogs and foxes, based upon an ancient Greek parable: “The fox knows many things, but the hedgehog knows one big thing.”

Those who built the good-to-great companies were, to one degree or another, hedgehogs. They used their hedgehog nature to drive toward what we came to call a Hedgehog Concept for their companies. Those who led the comparison companies tended to be foxes, never gaining the clarifying advantage of a Hedgehog Concept, being instead scattered, diffused, and inconsistent.

For the comparison companies, the exact same world that had become so simple and clear to the good-to-great companies remained complex and shrouded in mist. Why? For two reasons. First, the comparison companies never asked the right questions, the questions prompted by the three circles. Second, they set their goals and strategies more from bravado than from understanding.

A Hedgehog Concept is not a goal to be the best, a strategy to be the best, an intention to be the best, a plan to be the best. It is an understanding of what you can be the best at. The distinction is absolutely crucial

Every company would like to be the best at something, but few actually understand—with piercing insight and egoless clarity—what they actually have the potential to be the best at and, just as important, what they cannot be the best at. And it is this distinction that stands as one of the primary contrasts between the good-to-great companies and the comparison companies.

To go from good to great requires transcending the curse of competence. It requires the discipline to say, “Just because we are good at it—just because we’re making money and generating growth—doesn’t necessarily mean we can become the best at it.” The good-to-great companies understood that doing what you are good at will only make you good; focusing solely on what you can potentially do better than any other organization is the only path to greatness.

As you search for your own concept, keep in mind that when the good-to-great companies finally grasped their Hedgehog Concept, it had none of the tiresome, irritating blasts of mindless bravado typical of the comparison companies. “Yep, we could be the best at that” was stated as the recognition of a fact, no more startling than observing that the sky is blue or the grass is green. When you get your Hedgehog Concept right, it has the quiet ping of truth, like a single, clear, perfectly struck note hanging in the air in the hushed silence of a full auditorium at the end of a quiet movement of a Mozart piano concerto. There is no need to say much of anything; the quiet truth speaks for itself.

“Good to Great” by Jim Collins Some Highlights

Feb 20, 2012

90 likes | 884 Views

“Good to Great” by Jim Collins Some Highlights. E-mail: [email protected] Website: www.scythian.biz. The Sample of Good to Great Companies. Start with 1,435 good companies. Examine their performance over 40 years. Then find the 11 companies that went from mediocre and became great * .

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Presentation Transcript

“Good to Great”by Jim CollinsSome Highlights E-mail: [email protected] Website: www.scythian.biz

The Sample of Good to Great Companies • Start with 1,435 good companies. Examine their performance over 40 years. Then find the 11 companies that went from mediocre and became great *. • The 11 good-to-great companies that Collins found averaged returns 6.9 times greater than the market’s—more than twice the performance rate of General Electric under the legendary Jack Welch. • The surprising good-to-great list included many unheralded companies • One such surprise, the Kroger Co.—a grocery chain—bumped along as a totally average performer for 80 years and then somehow broke free of its mediocrity to beat the stock market by 4.16 times over the next 15 years. And it didn't stop there. From 1973 to 1998, Kroger outperformed the market by 10 times. • Circuit City - 18.50x market • Fannie Mae - 7.56x market • Gillette - 7.39x market • Walgreens - 7.34x market • Philip Morris - 7.06x market • Pitney Bowes - 7.16x market • Kroger - 4.17x market • Nucor Corp - 5.16x market • Wells Fargo - 3.99x market • Abbott Laboratories - 3.98x market • Kimberly-Clark Corp - 3.42x market * 15 years of cumulative stock returns at or below market, then a transition point followed by cumulative stock returns at least 3 times higher than the market over the next 15 years

Good vs Great • Good is the ENEMY of great • If one is good there is very little need to change: “If it isn’t broken, don’t fix it” • To become great requires a new vision • It requires different leadership

Discipline - It starts with people • To go from Good to Great requires: • Disciplined People • Disciplined Thought • Disciplined Actions • First who, then what. • One needs disciplined people, who apply disciplined thought and take disciplined action. • How does one get the right people? • Are the good people on the bus? • Are the wrong people off the bus? And • For those on the bus; are they sitting in the correct seats?

But, you need a great leader – a Level 5 • The level 5 leader in all the good to great companies were all “cut form the same cloth” • It is all about the type of leader • One who does not lead by inspired talk but by inspired thought (discipline) • It’s about humility • Constantly asking the question: “Do I measure up?” • It’s not about “me”, it’s about the company, the goal.

The window or the mirror? • All these leaders, when asked how they succeeded answered: “We were lucky” • But the real answer is probably more about the window or the mirror: • It’s not just about the leader it’s about the team/the people • These successful leaders point out the window at the things/people who led to the success, and to luck, when things go well • When things go bad, they look in the mirror asking themselves how they have failed and what they need to do to fix it.

Confronting the brutal facts • It’s about disciplined thought to confront the brutal facts • The Stockdale Paradox • One requires the unwavering faith that one can prevail despite the constraints. • This needs to be balanced with the discipline to face the brutal facts about one’s situation. • Those who do not make it through trying circumstances are the optimists. They die of broken hearts when things do not work out as planned.

Passionate / Born to do this Economics / key value drivers Best in the world The Hedgehog Concept • Are you engaged in work that fits your own three circles: • What you are passionate about, what you are genetically encoded for? • What can you be the best in the world at (and what can you not)? • What can you get paid for?

Preserve Core values Core purpose Stimulate Change PracticesGoals & Strategies Bringing it all together • To go from Good to Great requires disciplined people, with disciplined thought, to take disciplined action to stop doing that which does not fit the three circles. • Once the point of intersection is determined, one needs to action a Stop Doing List! • The fundamental distinguishing dynamic of enduring great companies is that they preserve a cherished core ideology while simultaneously stimulating progress and change in everything that is not part of the core ideology. • Put another way, the most enduring and successful corporations distinguish their timeless core values and enduring core purpose (which should never change) from their operating practices and business strategies (which should be changing constantly in response to a changing world).

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