Tuesday, December 29, 2009

A journey from…Good to Great!

Why Some Companies Make the Leap... and others don’t ; By Jim Collins

Jim Collins knows how to ask a good question straight—Can a good company become a great company and if so, how? Collins the author of “Good to Great” (also author of Built to Last fame) answers this question and concludes that it is possible but there are no sure short ways for attaining greatness.

With his team of researchers Collins began his quest by sorting through a list of 1,435 companies. Basically Collins was looking for those who over a period of time had made substantial improvements in their performance.
The final list includes 11 companies e.g. Fannie Mae, Gillette, Walgreens and Wells Fargo etc. it in these companies that they discovered common traits that challenged many of the conventional notions of corporate success.

Jim comes to the conclusion that making the transition from good to great doesn't require high-profile/profilers, the latest technology, innovative change management, or even a fine-tuned business strategy.

At the heart of a great company is its culture that rigorously found and promoted disciplined people to think and act in a disciplined manner. He gives true-every day experiences and stories (that have become legends over the years). You will have to find these antidotes when you read this fabulous book, and come to your own conclusions and what lessons you would imbibe from them. The book offers a well-researched road map to excellence it is for the organisations and individuals working there to consider these great examples and turn there and there organisations to make them great.
Jim christens the concept as—Hedgehog Concept, a product or service that outshines worldwide competitors and that drives a company's economic engine.

For more details on the book you can refer to Collins website: http://www.jimcollins.com/