Book title: Good to Great: Why Some Companies Make the Leap…And Others Don’t
- “Hedgehog concept” (Simplicity Within the Three Circles)
- a strategy to push for ages, eventually will take the company to number 1.
- answer 3 questions to find your Hedgehog concept: (1) What can we be the best in the world? (2) On what can we be passionate? (3) What is the critical economic indicator we should concentrate on?;
- Only Pushing for “Hedgehog concept” centered technology advancements: by selecting and focusing solely upon the development of a few technologies that are fundamentally compatible with the established strengths and objectives of .
- making decisions and taking actions that reinforce and affirm the company’s “hedgehog” competencies, executives initiate positive momentum.
- so-called Level 5 leaders
- are value centered
- vs. Ego centered leaders
- First Who, Then What
- Securing high-quality, high-talent individuals with Level 5 leadership (more about characters than skills)
- hiring should be delayed until an absolutely suitable candidate has been identified
- With the right people in the right positions
- Confront the Brutal Facts (Yet Never Lose Faith)
- the willingness to identify and assess defining facts in the company and in the larger business environment.
- How to sustain (build to last)
- First, a company should focus on developing the foundation that is necessary to work toward greatness. Then, they can begin to apply the principles of longevity that are set forth in Built to Last.
- summary from url:
“First and foremost, Collins contends that companies need a set of core values in order to achieve the kind of long-term, sustainable success that may lead to greatness. Companies need to exist for a higher purpose than mere profit generation in order to transcend the category of merely good. According to Collins, this purpose does not have to be specific – even if the shared values that compel the company toward success are as open-ended as being the best at what they do and achieving excellence consistently, that may be sufficient as long as the team members are equally dedicated to the same set of values.”