The is an amazing book about how the good companies become great! Thanks Sung for making me aware!
Important notes from this book:
1. Only have seats for A players. – “tell your people it will be a challenge and demanding.”
2. Who comes before What. Build deep and strong executive teams.
3. Compensation is not a distinguishing variable in moving an organization from good to great.
4. The right people will do the right things and deliver the best results they’re capable of, regardless of the incentive program.
5. Always place greater weight on character attributes than on specific educational background, practical skills, specialized knowledge, or work experience.
6. Only the bet make the annual cut. Consistent exacting standards at all times and at all levels.
7. How to be Rigorous
a. When in doubt, don’t hire – keep looking
b. When you need to make a people change, act.
c. Put your best people on your biggest opportunities, not your biggest problems.
d. Managing problems makes you good, building opportunities is the only way to become great.
e. All debates must be for he common good of the company, not for self interest.
8. Facts are better than dreams
a. Let the brutal facts tell reality.
9. How to build a climate where truth is heard?
a. Lead with questions, not answers. (So, what’s on your mind? Can you tell me about this? Can you help me understand? What should we be worried about?
b. Engage in dialogue and debate , not coercion.
c. Conduct autopsies without blame.
d. Build red-flag mechanisms
“Never confuse faith that you will prevail in the end – which you can never afford to lose – with the discipline to confront the most brutal facts of your current reality, whatever they might be.”
10. Simplicity within three circles
a. What are you passionate about?
b. What can you be the best in the world at? More importantly, what you cannot be the best at?
c. That drives your economic engine?
11. “Stop doing lists” are MORE important than “to do” lists.
12. Become pioneers in the application of carefully selected technologies.
13. Use technology as an accelerator of momentum, not a creator of it. Make sure the technology fits with the three circles.
14. Preserve the core values and purpose while your business strategies and operating practices endlessly adapt to a changing world.
15. Realize what you are doing is at best a waste of energy.
16. What work makes you feel compelled to try to create greatness?
These last 16 points ring true to the very core of what takes a good company and makes them great. it never happens overnight, but with consistent effort, drive, determination, and longing to become great with steady faith that it will indeed happen. Unwavering principles and core vales within the three circles is a must.
I highly recommend you pick this book up and make it part of your growing library!
Other summaries for this book, http://www.wikisummaries.org/Good_to_Great:_Why_Some_Companies_Make_the_Leap…_and_Others_Don’t
All the best in 2011!
Jamieson Slough
I like it, babe. Thanks for taking the time to share it….it will be put to good use. Love you!