To make good decisions you need to confront the facts, even if those facts are brutal and uncomfortable. and understand how those things are measured at the officer level. We’ve all been told that leaders make things happen — and that’s true: Pushing that flywheel takes a lot of concerted effort. In fact, the 11 good-to-great companies that we 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 such unheralded companies as Abbott Laboratories (3.98 times the market), Fannie Mae (7.56 times the market), Kimberly-Clark Corp.(3.42 times the market), Nucor Corp. (5.16 times the market), and Wells Fargo (3.99 times the market). Wrong. From December 31, 1975 to January 1, 2000, one dollar invested in Walgreens beat one dollar invested in Intel by nearly 2 times, General Electric by nearly 5 times, and Coca-Cola by nearly 8 times.
It sees the world in all its complexity and can pursue many goals at once. Take Kroger, for example. Paradoxically, this can actually create more opportunities for growth than if you try to do everything.Create a list of things you will stop doing so you can better focus on your Hedgehog Concept.Change the way you plan. The pilot is guided by air-traffic control. “Run it like a business” and “run it like you own it” became mantras; simplicity and focus made all the difference. All good-to-great leaders, it turns out, are hedgehogs.
30-50% of those who bought Good to Great work in the Social Sector. It makes three turns, four turns, five, six. You keep pushing steadily. The quality of all other people in the team is equally as important.What does first who, then what mean? The key to going from Good to Great is to: get the right people, engaging in critical thinking, then taking disciplined action aligned with the Hedgehog Concept.Good to Great companies think about technology in a different way.
The good-to-great executives were all cut from the same cloth. His answer: “Sometime between 1971 and 1980.” (Well, that certainly narrows it down! The remaining concepts only make sense if you have your Hedgehog Concept in place. The right people are self-motivated: Nothing beats being a part of a team that is expected to produce great results. That flywheel is your company. Then another step.A single push as no impact on the wheel.
Based on an expansive 5-year study, the ultra-successful book unearths the seven characteristics which make a good company great. “Great performance” was defined as a cumulative total stock return of at least three times the general market for the period from the transition point through 15 years.2.
Don’t make the mistake of many executives: mistaking control for discipline.To support a culture of discipline you’ll need to do five things:You will free up your time if you put in place boundaries but let people decide for themselves how to act within those boundaries. Following the success of “Good to Great,” Jim Collins began hearing a similar question from multiple areas of social sector work – law enforcement, non-profit organizations, hospitals, education, etc. Now take another look: Where’s your stop-doing list? They have the abilities of the other four levels plus a unique combination of will and humility. Each of us can take our own area of work and influence and can concentrate on moving it from good to great. These companies, "... are looked at separately as a clump":Holt and Cameron state the book provides a "generic business recipe" that ignores "particular strategic opportunities and challenges. Each time they switch idea momentum is lost.These companies completely stop trying to create momentum.
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