9 ELEMENTS IN TAKING A COMPANY FROM GOOD TO GREAT
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Written by: Garrett Smith
Web Site: Bookjive Date Submitted: 01/19/2007 |
Jim Collins, author of Good to Great: Why Some Companies Make the Leap…And Others don't, conducted a case study with his research team spanning 15 years and 11 companies, cross-examining company characteristics and uncovering what the good-to-great companies had in common. Through their research they arrived at 9 key elements that enabled each of the 11 companies to make the leap from good to great. Each of these elements addresses operational practices, management, and personnel behavior or attitudes that are critical elements in the transition from good to great.
1. Great companies have disciplined people, disciplined thought, and disciplined action.
2. Great companies have Level 5 leaders; they have goals of building a great company in the next generation, comfortable with the idea that most people won't even know that the roots of that success trace back to their efforts.
3. Great companies get the right people on the bus and the wrong people off the bus before figuring out where they are going.
4. Great companies face the brutal facts, but at the same time they maintain an unfailing hope.
5. Great companies exert more effort to be on top and they work harder to remain on top.
6. Great companies know the process of being great in things they are not great in doing, they can create a great company even in an industry that's not great.
7. Great companies don't think that technology alone holds the key to success. The good to great are motivated by a deep creative urge and inner compulsion for sheer excellence for its own sake. Great technology alone won't make you a great company.
8. Great companies transform from good to great in a similar manner as a giant flywheel being pushed in one direction, turn upon turn, building momentum until the point of breakthrough and beyond. It takes a lot of hard work and a consistent effort.
9. Great companies work towards building a great company that will last and they do not focus on short gains that will weaken the company.
Companies become great because they know what drives their economic engine, they understand what they do best, and what they can be deeply passionate about. Good schools can learn to become great schools. Good government agencies can learn to be great government agencies.
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Garrett Smith graduated from Brigham Young University with a bachelor's degree in mechanical engineering in April of 2005. Since then he has been pursuing his life's dream of starting and owning his own business. Garrett resides in Salt Lake City Utah and works primarily as an entrepreneur. Garrett, an ardent booklover, created http://www.bookjive.com, a free book summaries wiki to help other booklovers communicate, discuss, and share invaluable information in books.
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