I was misled into thinking that "Good to Great" is about personal transformation initially. However, after taking a closer look at the smaller fonts, I realized that it is about the transformation of teams, companies etc.,
Given my penchant for reading management books, I, however, went ahead and completed it. The author and the team is trying to do reverse engineering and figure out elements of a black box which leads a good organization to become a great organization. The metric they are using here is stock appreciation & return on investment.
Here are some of the notable points from the book:
Given my penchant for reading management books, I, however, went ahead and completed it. The author and the team is trying to do reverse engineering and figure out elements of a black box which leads a good organization to become a great organization. The metric they are using here is stock appreciation & return on investment.
Here are some of the notable points from the book:
- Good is the enemy of Greatness!
- We don't have many great organizations because we have good organizations
- Similarly, we don't have many great men because we have good men!
- Take away here is - are you complacent with just good or do you want to achieve greatness?!
- The research has resulted in 7 important but not necessarily exhaustive steps which can transform an organization from Good to Great!
- A Level 5 leader is needed to make this transformation
- These leaders are like servant leaders for whom company comes first. They take less credit and ensure the successor is set up for greater success
- First Who, Then what --> Meaning first build a great team and then figure out a vision. Not the other way around
- Love the quote- " There are going to be times when we can't wait for somebody. Now, you're either on the bus or off the bus" - Ken Kesey
- Purpose of compensation is not to get right behaviors from people. It is just to get the right people on the bus and them to keep them there.
- Confront Brutal facts--> You got to face the reality. Create an environment for autopsies and lessons learned without placing any blame on anyone.
- Learned interesting idea- The Stockdale Paradox
- Have faith in the end of the story even if you can't see the end but face the brutal facts anyway!
- Ex: Stockdale had faith that he will be released from prison but faced the brutal facts that it may not happen anytime soon. On the other hand, optimists who blindly thought they will be released for Christmas, Easter etc could not make it! So sad!
- Hedgehog concept- Hedgehog knows thyself. You should know thyself too!
- Know that is best of the three circles and pick only those opportunities which fall in the middle. Be only what you can best be!
- Hedgehog + Fox
- Culture of Discipline
- Have disciplined people. This leads to disciplined thought and then in turn into disciplined action
- Have a stop doing list along with to-do list
- Technology accelerators: Technology can accelerate growth but cannot create it
- Think & apply those technologies to yourself & your company which fits into your hedgehog concept
- Quote: "Most men would rather die, than think. Many do!" - Betrand Russel
- Flywheel- Love the analogy of flywheel. It takes great effort to move the gigantic flywheel by an inch initially. Sustained efforts in the same direction will help flywheel slowly move and then gain momentum eventually. Once the momentum is build it becomes unstoppable. That's when others notice an individual or a company. What others can't see is some thousands of small pushes to move the flywheel


Overall, it was a good read. Hope these concepts will help us somewhere in our careers!
Attached are some picture related to this book which are available freely on the Internet.
Cheers,
Vishal