Group3 John Wise Ethan Noble Jacob Weems Charles Hodges Amanda Barrientes. Good To Great. Chapter 3: First Who…. Then What. First Who…. Then What. People vs. direction Three Simple Truths: Who then what Right people self-motivated Great people > Great Vision Wells Fargo
Does the amount and structure of compensation play a key role?
You can’t teach work ethic
The right people are the most important asset.
“Rigorous means constantly applying exacting standards at all times and at all levels.” (Good to Great)
Wells Fargo and Crocker Bank (1986)
First become rigorous about top management
Endless restructuring and mindless hacking doesn’t make a company go from good to great
Circuit City vs. Silo
The best people don’t need to be managed.
Attention spend on poor workers draw the attention away from the great employees.
It is unfair keep an unsuitable employee when he or she could flourish elsewhere.
Shift employees at the positions that they can be the most successful.
Take the time to make a rigorous A+ selection right up front.
Managing your problems can only make you good, where as building opportunities is the way you become great.
It is not a question of what can be accomplished, but who can accomplish it.
A level 5 employee should be strong and challenge decisions, but should also meld that strength into doing what ever it takes for the company.
Remember that all debates should be for the common good of the company, not your own interests.
Is it possible to be wildly successful and have a well rounded life?
Surround yourself with the right people.
Chairman and CEO Jim Owens