Sunday, August 20, 2017

Book Review: Good to Great

Good to Great, written by Jim Collins, consists research findings by a team on how good companies can become great companies with great financial results.

Overall, it is a great book with some interesting insights and concepts, most of which maps to great leadership traits. Jim also believed the concepts can be applied outside of companies such as sports or personal life, which I concur. Here are chapter summaries to get your appetite wet:
  1. Good is the Enemy of Great
    Most companies (or people) are satisfied with being good that they never become great.
  2. Level 5 Leadership
    Consists of paradoxical traits of both great humility and professional will
  3. First Who...Then What
    Bring the right people on the bus, let the wrong people off first, and then together, figure out what to do.
  4. Confront the Brutal Facts (Yet Never Lose Faith)
    Be open and understand what's going on, no matter how bad things are, to formulate a plan that you stick with, no matter how long it takes, by having faith that you will prevail.
  5. The Hedgehog Concept (Simplicity within the Three Circles)
    Be simple and focus on the intersection of the team's passion, skills, and economic returns.
  6. A Culture of Discipline
    Give disciplined people freedom to operate within the disciplined thoughts of the Hedgehog concept and they will take disciplined action (naturally be responsible) to achieve great organization results.
  7. Technology Accelerators
    Technology can help to accelerate growth, but not a starter or a main driver for a great company.
  8. Th Flywheel and the Doom Loop
    From good to great requires many consistent small turns/steps to turn the flywheel that represents a company's growth engine, not from a single magic bullet (person/program/product/etc). Non-consistency behaviors turns the flywheel into a doom loop that goes no where.
Recommended: Yes, a must read. Buy it now if you haven't already read!

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