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Good to Great. Ch 9: From Good to Great to Build to Last. Sterling Rose Justin Simpson Krista Wells Gwen Singleton Wayni Hebert. Four Conclusions. Jim Collins co-authored “Built to Last” They compared their findings from “Built to Last” and “Good to Great” and formed 4 conclusions.

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good to great

Good to Great

Ch 9: From Good to Great to Build to Last

Sterling Rose

Justin Simpson

Krista Wells

Gwen Singleton

Wayni Hebert

four conclusions
Four Conclusions
  • Jim Collins co-authored “Built to Last”
  • They compared their findings from “Built to Last” and “Good to Great” and formed 4 conclusions
four conclusions3
Four Conclusions
  • The great companies from “built to Last” followed the good to great framework but did so as entrepreneurs in small, early stage businesses instead of CEOs of established companies
  • “Good to Great” is a prequel to “Built to Last”
  • To establish yourself as a company with iconic stature, discover your core values and purpose beyond just making money and combine with the dynamic of preserve the core/stimulate progress
  • The ideas from each book enrich and inform the ideas of the other. What is the difference between a good and bad BHAG
good to great in the early stages of built to last
Good to Great in the Early Stages of Built to Last
  • During the formative years, great companies went through a process of buildup to breakthrough, fallowing the good to great framework
  • Sam Walton and Wal-Mart
    • Entrepreuneur building a great company instead of a CEO transforming an established company (Conclusion 1)
  • Hewlett-Packard
    • Founding concept started with who instead of what
core ideology the extra dimension of enduring greatness
Core Ideology: The Extra Dimension of Enduring Greatness
  • In 1950s HP adapted and operated under core values. The “HP Way”.
  • These values were:
  • Technical contribution
  • Respect for the individual
  • Responsibility to the community
  • Belief that profit is not the fundamental goal
the extra dimension
The Extra Dimension…..
  • HPs “core ideology” is the key factor in transitions from good to great to built to last.
  • The core ideology consists of core values and core purpose. Profit??
  • Great companies don’t exist for the sole purpose of profit, but to establish healthy company.
  • Profits and cash flows are absolute necessity but not the point of been in business.
the extra dimension7
The Extra Dimension…..
  • Merck developed and distributed a drug that cured river blindness free of charge in Amazon. Did they do it for profit?
  • “we try to remember that medicine is for the patient..not for profits, profit follows.”
  • There are no right core values for becoming lasting great company.
the extra dimension8
The Extra Dimension…..
  • There are great companies that don’t have that one great core value.
  • A company doesn’t need to be social responsible, passionate for its customers, respect for individual or quality advocator.
  • What kind core values a company follows don’t matter; having one does.
  • Have core values, know them, build them into the organization, preserve them overtime.
the extra dimension9
The Extra Dimension…..
  • Preserve your core ideology and stimulate progress.
  • Adapt to a changing world through business strategies and operating practices while preserving your core values.

Ex. Walt Disney - preserve “Disney Magic”, creative imagination, attention to detail

McDonalds- Quality, Service, Cleanliness and Value, honesty and integrity.

  • holding core ideology fixed, while changing strategies & practice over time leads to long lasting greatness.
concepts in good to great
Concepts in Good to Great
  • Level 5 leadership
  • First Who…Then What
  • Confront the Brutal Facts (Stockdale Paradox)
  • Hedgehog Concept
  • Culture of Discipline
  • Technology Accelerators
  • Flywheel, Not Doom Loop
level 5 leadership
Level 5 Leadership
  • Clock Building, Not Time Telling: Level 5 leaders build a company that can tic along without them
  • Genius of AND: Personal humility AND professional will
  • Core Ideology: Level 5 leaders have a sense of purpose beyond their own success
  • Preserve the Core/Stimulate Progress: Level 5 leaders are relentless in stimulating progress toward tangible results and achievement
first who then what
First Who… Then What
  • Clock Building, Not Time Telling: “First who” is clock building, “First what” is time telling
  • Genius of AND: Right people on the bus AND the wrong people off the bus
  • Core Ideology: “First who” involves selecting people based on their fit with the core values
  • Preserve the Core/Stimulate Progress: Practicing “first who” means a bias for promoting from within
confront the brutal facts
Confront the Brutal Facts
  • Clock Building, Not Time Telling: creating a climate where the facts are heard is clock building
  • Genius of AND: Confront brutal facts AND retain unwavering faith
  • Core Ideology: Confronting the brutal facts clarifies the values an organization truly holds as core versus those that it would like to
  • Preserve the Core/Stimulate Progress: Brutal facts clarify what must be done to stimulate progress
hedgehog concept
Hedgehog Concept
  • Clock Building, Not Time Telling: The council mechanism is consummate clock building
  • Genius of AND: Deep understanding AND incredible simplicity
  • Core Ideology: The “what you are passionate about” circle overlaps with core values and purpose
  • Preserve the Core/Stimulate Progress: Good BHAGs flow from understanding; bad BHAGs flow from bravado.
culture of discipline
Culture of Discipline
  • Clock Building, Not Time Telling: Building an enduring culture of discipline is clock building
  • Genius of AND: Freedom AND responsibility
  • Core Ideology: A culture of discipline ejects those who do not share the values and standards of an organization
  • Preserve the Core/Stimulate Progress: When you have a culture of discipline, you can give people more freedom to experiment and find their own best path to results
technology acceleration
Technology Acceleration
  • Clock Building, Not Time Telling: Technology accelerators are a key part of the clock
  • Genius of AND: Shun technology fads AND pioneer the application of technology
  • Core Ideology: Technology is subservient to core values
  • Preserve the Core/Stimulate Progress: The right technologies accelerate momentum in the flywheel
flywheel not doom loop
Flywheel, Not Doom Loop
  • Clock Building, Not Time Telling: The flywheel effect creates the sustained building of momentum
  • Genius of AND: Evolutionary, incremental process AND revolutionary, dramatic results
  • Core Ideology: The doom loop makes it almost impossible to instill core values and purpose
  • Preserve the Core/Stimulate Progress: The smooth flywheel and building of momentum create the perfect conditions for instilling core values while stimulating change and progress
bhags the three circles of the hedgehog concept
BHAGs & the three circles of the Hedgehog Concept
  • BHAGs (“Big Hairy Audacious Goal”)
    • A huge and daunting goal that serves as a unifying focal point of effort.
  • Hedgehog Concept
    • What are you deeply passionate about?
    • What can you be the best in the world at?
    • What drives your economic engine?
bad bhags vs good bhags
Bad BHAGs vs. Good BHAGs
  • Bad BHAGs
    • goals set with bravado
  • Good BHAGs
    • goals set with understanding
  • When you combine quiet understanding of the three circles with the audacity of a BHAG, you get a powerful mix.
  • Boeings BHAG was not random, it made sense within the context of the three circles.
  • To remain great over time requires……..
    • staying squarely with in the three circles
    • being willing to change the specific manifestation of what's inside the three circles at any given moment.
  • Boeing never left the three circles or abandoned its core ideology.
  • It created an exciting new BHAG and adjusted its hedgehog concept to include commercial aircraft.
creating greatness that lasts
Creating Greatness that Lasts
  • Requires all the key concepts from Good to Great & Built to Last, applied consistently over time.
  • If you ever stop doing any one of the key ideas, your organization will inevitably slide backward toward mediocrity.
  • It is much easier to become great then to stay great.
  • Consistent application of both studies, Good to Great & Built to Last, gives the best chance for greatness that lasts.
why greatness
Why Greatness?
  • Greatness doesn’t depend on size.
    • “…I don’t really want to build a huge company…”
    • Set a standard.
      • Ex) generate the highest profit per foot of space
  • It is no harder to build something great than to build something good.
    • “..why should I try to build a great company? What if I just want to be successful?”
    • Much of what we’re doing is at best a waste of energy. Don’t “add” these findings to what we are already doing to make ourselves more overworked.
why greatness23
Why Greatness?
  • We run best at the end
  • What we don’t waste time on
  • Leadership and Teamwork; accountability
  • “First, who.” – the right ‘who’.
  • People want to be a part of the spinning flywheel – the championship team
why greatness24
Why Greatness?
  • Not everyone can be above average
  • Meaningful work
    • All that matters is that you do love [what you do] and that you do care.
  • Perhaps your quest to be part of building something great will not fall in your business life.
why greatness25
Why Greatness?
  • The real question is not, “Why greatness?” but “what work makes you feel compelled to try to create greatness?”
  • If you have to ask, “isn’t success enough?” then you’re probably engaged in the wrong line of work.
  • When all these pieces come together, not only does your work move toward greatness, but so does your life. For, in the end, it is impossible to have a great life unless it is a meaningful life.