October 22, 2001

Jack Covert Selects: Jack Covert Selects - Good to Great

By: 800-CEO-READ @ 6:50 PM – Filed under: Management & Workplace Culture

Good to Great: Why Some Companies Make the LeapAnd Others Dont by Jim Collins, HarperBusiness, 400 Pages, $30.00 Hardcover, October 2001, ISBN 0066620996
Seven years ago, Jerry Porras and Jim Collins published the bestselling classic, Built to Last, which demolished a couple of deeply entrenched myths like this one: great companies start with a great product and/or a great leader. After completing that book, Jim Collins was nagged by the lingering question that he had been pondering since before Built to Last: are there any mediocre companies that became great? Once he had established his delimiters, he set out to collect data. Jim and his research team spent over five years and studied every company that made the Fortune 500 from 1965 until nowover 1400 companiesand found only eleven companies had truly gone from mediocre to being a long-term star. Then, they looked at why. Heres where it gets really interesting.
From studying these organizations, Collins and crew came up with some really mind-stretching conclusions. One of the most interesting: every good-to-great company has a Level 5 leader during the transitional years. However, a Level 5 leader is unlike strong leaders of our imaginings. All Level 5 leaders have a mix of personal humility and professional will. Fanatically driven to produce results, they are ambitious, first and foremost, for the companynot for themselves. Ultimately, they do whatever it takes to make the company great. A few of the other most useful findings include something called The Hedgehog Concept, which advocates breaking out of mediocrity with a single terrific product or service; and Technology Accelerators, which encourages a fundamentally diverse attitude and approach to technology.
Simply put: this book is going to be talked about for yearsit is so solid in its findings, but written so superbly that you will practically learn just by holding it in your hand. But dont stop there: I guarantee that your copy will be as marked up with notes as mine.