Good To Great - Concepts

Concepts taken from the book Summarized by Vanessa Tan (INSEAD MBA July 2009), with some additional insights

Good is the enemy of Great ,[object Object],[object Object],[object Object],[object Object],[object Object]

Methodology: How were ‘Great’ companies chosen? ,[object Object],Company Results versus market Period Abbott 3.98 1974-1989 Circuit City 18.50 1982-1997 Fannie Mae 7.56 1984-1999 Gillette 7.39 1980-1995 Kimberly-Clark 3.42 1972-1987 Kroger 4.17 1973-1988 Nucor 5.16 1975-1990 Philip Morris 7.06 1964-1979 Pitney Bowes 7.16 1973-1988 Walgreens 7.34 1975-1990 Wells Fargo 3.99 1983-1998

Summary of findings ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Steps to becoming great Buildup... Breakthrough! Disciplined People Disciplined Thought Disciplined Action

Different levels of leaders Disciplined People

Find and keep the right people ,[object Object],[object Object],[object Object],Disciplined People

Two sides of Level 5 Leadership ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Disciplined People

Provide real Leadership ,[object Object],[object Object],[object Object],Disciplined People

Better to build a strong team (Level 5 Leadership) than to have one genius with a thousand helpers (Level 4) ,[object Object],[object Object],[object Object],Disciplined People

Confront the brutal facts ,[object Object],Disciplined Thought

The Hedgehog Concept: 3 circles Big, Hairy, Audacious Goal (BHAG): Your company should be here Disciplined Thought Relook your company’s denominators to gain understanding of your economic model. E.g. shift from profit per store to profit per customer Gain an understanding of what your company can be the best at. Relook your core business if it’s something you can only be ‘good’ at, not ‘great’. Only do things you are passionate about. You will be at your best when you have a deep and genuine feeling for what you do.

Understand what you can & cannot be the best at ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Disciplined Thought

Create a culture of discipline The Good-to-Great Matrix of Creative Discipline High Culture of Discipline Low Low High Ethic of Entrepreneurship Disciplined Action

How to be rigorous ,[object Object],[object Object],[object Object],Disciplined Action

Technology Accelerators ,[object Object],[object Object],[object Object],[object Object],[object Object],Disciplined Action

Positive & vicious cycles ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Similarities & contrasts with other management books & theories ,[object Object],[object Object],[object Object],[object Object],[object Object]

Oversights, loopholes & areas for improvement ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Good To Great - Concepts

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