Book Summary: Good To Great

The 21 Irrefutable Laws Of Leadership Summary - Book Summary: Good To Great

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Explore what goes into a company's transformation from
mediocre to excellent. Based on hard evidence and volumes of
data, the book author (Jim Collins) and his team search
timeless law on how the good-to-great companies like
Abbott, Circuit City, Fannie Mae, Gillette, Kimberly-Clark,
Kroger, Nucor, Philip Morris, Pitney Bowes, Walgreens, and
Wells Fargo produced sustained great results and achieved
enduring greatness, evolving into companies that were honestly
'Built to Last'.

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The 21 Irrefutable Laws Of Leadership Summary

The Collins team prime 2 sets of comparison companies:

a. Direct comparisons - companies in the same manufactures with the same resources and opportunities as the good-to-great group but showed no leap in performance, which were: Upjohn, Silo, Great Western, Warner-Lambert, Scott Paper, A&P, Bethlehem Steel, Rj Reynolds, Addressograph, Eckerd, and Bank of America.

b. Unsustained comparisons - companies that made a short-term shift from good to great but failed to mouth the trajectory, namely: Burroughs, Chrysler, Harris, Hasbro, Rubbermaid, and Teledyne

Wisdom In A Nutshell:

a. Ten out of eleven good-to-great company leaders or Ceos came from the inside. They were not outsiders hired in to 'save' the company. They were either habitancy who worked many years at the company or were members of the house that owned the company.

b. Strategy per se did not detach the good to great companies from the comparison groups.

c. Good-to-great companies focus on what Not to do and what they should stop doing.

d. Technology has nothing to do with the transformation from good to great. It may help accelerate it but is not the cause of it.

e. Mergers and acquisitions do not cause a transformation from good to great.

f. Good-to-great companies paid slight attentiveness to managing change or motivating people. Under the right conditions, these problems plainly go away.

g. Good-to-great transformations did not need any new name, tagline, or embark on program. The leap was in the operation results, not a revolutionary process.

h. Greatness is not a function of circumstance; it is clearly a matter of aware choice.

i. Every good-to-great company had "Level 5" leadership while pivotal transition years, where Level 1 is a very Capable Individual, Level 2 is a Contributing Team Member, Level 3 is the Competent Manager, Level 4 is an sufficient Leader, and Level 5 is the menagerial who builds enduring greatness through a paradoxical blend of personal humility and pro will.

j. Level 5 leaders display a compelling modesty, are self-effacing and understated. In contrast, two thirds of the comparison companies had leaders with great personal egos that contributed to the demise or continued mediocrity of the company.

k. Level 5 leaders are fanatically driven, infected with an incurable need to produce sustained results. They are resolved to do whatever it takes to make the company great, no matter how big or hard the decisions.

l. One of the most damaging trends in modern history is the tendency (especially of boards of directors) to select dazzling, celebrity leaders and to de-select potential Level 5 leaders.

m. potential Level 5 leaders exist all around us, we just have to know what to look for.

n. The research team was not looking for Level 5 leadership, but the data was overwhelming and convincing. The Level 5 discovery is an empirical, not ideological, finding.

o. Before answering the "what" questions of foresight and strategy, ask first "who" are the right habitancy for the team.

p. Comparison companies used layoffs much more than the good-to-great companies. Although rigorous, the good-to-great companies were never ruthless and did not rely on layoffs or restructuring to enhance performance.

q. Good-to-great administration teams consist of habitancy who consider vigorously in quest of the best answers, yet who unify behind decisions, regardless of parochial interests.

r. There is no link in the middle of menagerial payment and the shift from good to great. The purpose of payment is not to 'motivate' the right behaviors from the wrong people, but to get and keep the right habitancy in the first place.

s. The old adage "People are your most leading asset" is wrong. habitancy are not your most leading asset. The right habitancy are.

t. either man is the right man has more to do with character and innate capabilities than definite knowledge, skills or experience.

u. The Hedgehog idea is a idea that flows from the deep comprehension about the intersection of the following three circles:

1.What you can be best in the world at, realistically, and what you cannot be best in the world at

2.What drives your economic engine

3.What you are deeply passionate about

v. eye your core values and purpose beyond plainly production money and integrate this with the dynamic of keep the core values - stimulate progress, as shown for example by Disney. They have evolved from production short moving films, to feature distance films, to theme parks, to cruises, but their core values of providing happiness to young and old, and not succumbing to cynicism remains strong.

w. Enduring great companies don't exist merely to deliver returns to shareholders. In a truly great company, profits and cash flow are honestly vital for life, but they are not the very point of life.

"If You'Re Doing Something You Care Deeply About And If You Believe In It, It'S Impossible To imagine Not Trying To Make It Great."

By: Regine P. Azurin and Yvette Pantilla
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