Given we’re coming up to Christmas, I thought I’d share a little gift: for those new to Jim Collins’ Good to Great, an overview of one of the best books on organizational health; and, for those who’ve read it, a brief reminder of the insights from this in depth body of research.
Released in 2001, Good to Great studied what made 10 “great” companies great. Greatness was defined by a minimum 20 years of growth and sustained financial success that far outpaced the market or industry average.
The book debunked a number of myths and identified 7 key factors to greatness:
1. Be a humble, determined leader.
2. Get the right people on your team before setting your strategy.
3. Confront the brutal internal and external facts (yet never lose faith).
4. Identify and focus on your simple, reliable competitive advantage.
5. Create a culture of disciplined (and empowered) thought and action.
6. Use technology not as a sole strategy in itself, but to strengthen your competitive advantage.
7. Build momentum over time with small consistent, aligned actions.
Book: 320 pgs, 6h audio. GetAbstract summary: 5 pgs, 10m audio.