Built To Last, the defining management study of the nineties, showed how great companies triumph over time and how long-term sustained performance can be engineered into the DNA of an enterprise from the very beginning.
But what about companies that are not born with great DNA? How can good companies, mediocre companies, even bad companies achieve enduring greatness? Are there those that convert long-term mediocrity or worse into long-term superiority? If so, what are the distinguishing characteristics that cause a company to go from good to great?
Over five years, Jim Collins and his research team have analyzed the histories of 28 companies, discovering why some companies make the leap and others don't. The findings include:
Level 5 Leadership: A surprising style, required for greatness.The Hedgehog Concept: Finding your three circles, to transcend the curse of competence.A Culture of Discipline: The alchemy of great results.Technology Accelerators: How good-to-great companies think differently about technology.The Flywheel and the Doom Loop: Why those who do frequent restructuring fail to make the leap.
APPLE BOOKS REVIEW
Originally published in 2001, Good to Great compiles five years’ worth of business analyst Jim Collins’ detailed research into why some companies consistently beat stock market averages. Some of Collins’ specific examples, like big-box electronics store Circuit City and financial institution Fannie Mae, are a little dated—but his basic principle remains relevant. Collins argues that humble and engaged management teams collaboratively working toward specific goals deliver more consistent results than showboating CEOs who are out for themselves. In this 2010 audiobook, Collins reads his own work, updating the material and answering questions that came up following the book’s initial publication.
Lots of helpful mental models, but i worry the sample size on the companies they studied was too small to derive a useful pattern. What’s interesting is that the principles seem to still hold true, but the companies were not all able to sustain their great status.
Great book, well researched for sure!!! I learned a LOT. Also, the author has revised the audio portion since the original book, actually answering issues readers of the text version wrote in to ask or challenge him on, making this possibly a better purchase than the text version.
Easy to listen to and learn from. I got my money's worth in the first chapter alone.