Introduction to address those factors and variables through which

Introduction

About Book

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Good to Great:
Why Some Companies Make the Leap… and Others Don’t is a management book. In this book, the author
tried to address those factors and variables through which companies can make
transitions from merely good to Great companies. The book is based on results
of research conducted by the author and his team. It was published in 2001. The
book is one of the bestsellers and is regarded as a modern classic of management
theory. It got a lot of appraisal by the members of The Wall Street Journal’s
CEO Council. Also, it was called as “Worthwhile” The Publishers Weekly

About Author

Jim Collins was born in January
25, 1958 Aurora, Colorado. He is an American Business Consultant. He got his bachelor’s
degree in Mathematical Sciences and an MBA from Stanford University. He began
his research and teaching career at the Stanford Graduate School of Business
upon which he received the Distinguished Teaching Award in 1992. In 1995, he instituted
a management laboratory in Boulder, Colorado to engages with CEOs and
senior-leadership teams and conduct his research. In 2012 and 2013, he got
appointed as a Chair for the Study of Leadership at the United States Military Academy, West Point. In 2017,
he was also selected as one of the 100 Greatest
Living Business Minds.

Summary

Collins started off with the
approach through which he and his team selected companies for their research.
The key feature in selection procedure was a time required for development and
managed success that far outpaced the market or industry. Collins, likewise, mentioned a couple of the
most noteworthy discoveries gathered from his research. Of specific note are the numerous signs that
elements, for example, CEO remuneration, innovation, mergers and acquisitions,
and change administration activities assumed generally minor parts in
encouraging the Good to Great process.  Rather,
Collins found that success in three principle zones, which he terms trained
individuals, taught thought, and restrained activity, were likely the most
noteworthy factors in deciding an organization’s ability to accomplish greatness.

Collins then found out the
ways to recognize and further elucidate the interesting elements and factors
that separate great and great organizations. Amongst them, the most important
factor he stated, is the quality and nature of administration in the firm. He
then stepped forward to identify common properties of “level 5 leadership” among
all those companies that are under his study. After studying the level 5 Leadership,
Collins found out that the leaders in such a hierarchy are more interested in
company’s prosperity.

Next factor that was
highlighted by Collins was the placement of people in the leadership team. Collins
propels the idea that the way toward securing astounding, high-ability people
with Level 5 administration capacities must be embraced before an
all-encompassing technique can be produced. With the ideal individuals in the
correct positions, Collins battles that many the administration issues that
torment organizations and sap significant assets will naturally disperse. He further
highlighted the importance of keeping up meticulousness in all the decisions
about hiring people. He suggested moving failing workers and supervisors to new
positions, yet not delaying evacuating staff who are not currently
contributing. He also recommends that until a suitable person is not identified
hiring process should be delayed as it would save resources of the company.

Another key factor in
transition from good to great company is the ability of company to willingly recognize
and evaluate defining realities in the organization. As the time passes
consumer trends also changes and keeping a pace with those changes leads to
success. Collins explained this concept with the help of giving the example of
Kroger and A & P, where one follows the continuously changing trends leading
towards success while the other resist them leading towards the failure
respectively. He also mentioned four steps that would help in following the
changing trends

1)    Look for problems

2)    Engage in exchange and open deliberation, not
compulsion

3)    Conduct dissections without fault

4)    Build warning instruments that transform data
into data that can’t be disregarded.

Then Collins using the example
of hedgehog, how it rolls up into a ball to hide from it’s predator, to
illustrate the point of simplicity that changing only one thing can lead from
good to great. It might require a lot of time to identify that one thing, but
it would result into great success. To accelerate this procedure, Collins recommends
three measures:

1)    What is your specialty

2)    What are your diving factors?

3)    What are your targets.

Next factor that Collins found
interesting in his study is general authoritative culture of teaching. He
rushes to bring up that a culture of teach isn’t to be mistaken for a strict
dictator condition; rather, Collins is alluding to an association in which
every director and staff part is driven by an unwavering inward feeling of
assurance. In this kind of association, every individual capacity as a business
visionary, with a profoundly established individual interest in both their own
work and the organization’s prosperity. Collins mentioned that this discipline would
result in high quality of work as result. He further adds that every individual
must be given enough authority, so he/she can give his/her full potential in
the success of the company.

Nowadays, many organizations
thought technology as a solution to reduce burden and increasing productivity.
But Collins on the other hand, warns that technology should not be considered a
solution in this way. He then states that for transforming from good to great
an organization must choose a new technology based on what suits the organization
best. He suggested a cycle for implementing a technology: “Pause — Think —
Crawl — Walk — Run.”

 

 

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