How can good and mediocre organizations be permanently transformed into those that achieve extraordinary and sustainable results
To answer this question, Jim Collins and his team identified and analyzed eleven companies that initially had average (or below average) results over at least ten years compared to the general stock market – and over the next 15 years, exceeded the average return by at least three times.
This book presents the results of this study.
In essence, great companies have a culture of discipline: disciplined people engaging in disciplined thought and taking disciplined action.
At the heart of this culture are level five leaders characterized by humility, selflessness, motivation, hard work, and willpower – not by a strong ego and constant media presence. They first put together excellent people and then consider what the company will do ("first who then what"). Employees are selected primarily based on character traits such as willingness to take responsibility and perseverance, not professional competence.
Great companies have confidence that they will prevail in the end, but always face the brutal facts of their current reality.
They focus on one product or one service that they are deeply passionate about, that they can be the best in the world, and that customers are willing to pay for ("hedgehog concept") ... instead of diluting their time and passion in a variety of areas.
A great company is not created overnight. Like a flywheel, it continuously builds momentum until it is unstoppable. There is no such thing as the one miraculous moment, the one great breakthrough.
It is fascinating how entertaining the book is written despite its scientific basis. It is filled with numerous examples and anecdotes and opens your eyes to how great things can be achieved, even outside of business.
🎧 Suitable as an audiobook? Yes, absolutely.
* Disclosure: We love sharing our favorite books with you! As an Amazon Associate, we earn a small commission from purchases you make through our links, which helps us continue creating content you enjoy.
