HowWealthWorks.com

[Suresh]

Book take on Good to Great by Jim Collins

Amazon.com: Good to Great by Jim Collins

I. Disciplined People

I.A. Level 5 leaders put their organizations above their egos. They combine personal humility with professional will. They look in the mirror to apportion responsibility for bad results and through the window to apportion credit for good results.

I.B. Get the wrong people off the bus, the right people on the bus, and the right people in the right seats on the bus. This must be done before determining where the bus is going.

I.C. Put the best people in projects with the greatest opportunities, not in projects with the greatest problems. Hire people who don’t need to be managed, permitting the leader to manage the system, not the people. Bureaucracy arises to manage the incompetent or undisciplined people.

I.D. A compensation scheme serves not to obtain good behavior from bad workers, but rather to attract good workers in the first place.

II. Disciplined Thought

II.A. Hedgehog concept – simplify the complex world into a single organizing principle that guides all decisions. The Hedgehog concept is defined using the following questions:
II.A.1. What is the organization best at or can be the best at, and what is it worst at?
II.A.2. What drives the economic model of the organization?
II.A.3. What is the passion of the organization?

II.B. Stockdale paradox involves:
II.B.1. Belief that the organization will prevail despite current adversities; and
II.B.2. Understanding the current, brutal reality of the organization.

III. Disciplined Action

III.A. Stop doing actions that are not consistent with the organization’s Hedgehog concept.

III.B. Rinse your cottage cheese. Even seemingly small movements of continual improvement contribute to getting the organization’s flywheel moving faster and faster until the organization makes a breakthrough from mediocrity to greatness.
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Suresh

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