Good to Great: Why Some Companies Make the Leap...and Others Don't

PRETTY AWFUL

After reading this book I was not very impressed. Jim Collins started with a template and tried to find companies that would fit into his template. His leadership idea is nothing new and he could have taken all the leaders in the world and found stories that fit into his mold. His revelations are obnoxious and he spends about half the book talking about the good to great concept instead of using deep analysis to uncover some hidden truths.

One of the greatest flaws of this book is how he took a good look at certain companies through interviews but he failed to study any of the accounting changes that effected some of the businesses he discusses. One of the most notable is Walgreen's and circuit city who were able to structure their leases in such a way that they did not have to disclose them on the balance sheet as assets or liabilities. Walgreens and Circuit City grew because their bankers didn't get the full picture of how much debt the company was able to take on under the table and not disclose. Now that these companies are forced to disclose that information they appear less solvent and their stock price has adjusted to reality. Additionally Circuit City tanked when the new accounting practices and bad economy showed how insolvent they really were.

Other things Jim Collins failed to mention involved the establishment of right to work states that ended union control on companies and allowed NUCOR to establish one of the most efficient manufactures in the world.

Most of the companies Jim talks about have fallen apart in heaps and are bad to average. He should have written a book about how little research he had to do to write a book that would get praise from the entire academic sector but be a complete bad to worse book at best.

Don't buy the book! Save your money and take some accounting classes and you can then uncover what takes a company from good to great!

5 out of 7 people found this review helpful.

Assigned Reading - Wasted Time

This book was required reading for the company's annual store managers meeting in Las Vegas. Time was assigned in the agenda for discussion groups and roundtables to explore it's merits. So we all (most of us) dutifully read this tedious work only to find that any sessions related to the book were cancelled due to "Questions concerning the book's relevance" and designated free time or the Corporate version of "Basket Weaving". The flawed process allowed companies with creative accounting practices to appear greater than reality. I am a avid reader both personally and professionally. Reading this took hours of my life I'll never get back...

3 out of 4 people found this review helpful.

A book for the ages!

Good to Great is Jim Collins's follow-up to Built to Last, the 1994 management classic, which he co-wrote with Jerry Porras. Infact, Collins calls Good To Great a "prequel" to his hugely successful Built To Last. I call it one of the most important Business Leadership books I have read. While Built To Last was a great book, however, it left out critical information, because those companies were already great. What about those of us struggling to move our companies from Good To Great as opposed to those trying to hold on to greatness? The missing piece is clearly identified in Collins' Good To Great. Collins spent five years of research assisted by 20 business school students, who analyzed 1,435 public companies for this book. Their findings - just 11 companies from were able to sustainable their good to great efforts.
Having identified the companies that made the leap from Good To Great, Collins and his team set out to examine the transition point. What characteristics did the Good To Great companies have that their industry counterparts did not? What didn't the Good To Great companies have? Collins maps out three stages, each with two key concepts. These six concepts are the heart of Good To Great and he devotes a chapter to explaining each of them.
.Level 5 Leadership
.First Who... Then What
.Confront the Brutal Facts
.The Hedgehog Concept
.A Culture of Discipline
.Technology Accelerators
Many experts have problems with the way Collins and his team performed their "research." Some argue that Collins's measure for greatness is flawed or that his work fails to be classified as true research because it does not follow any scientific method. Or that the key measure used by Collins ("Ratio of Cumulative Stock Returns to General Market") looks at the company only through the eyes of one stakeholder - the owners. These arguments may be a bit unfair because some of the variables in business do not lend themselves well to true research; greatness is a subjective quality; and the amount of immeasurable historical variables for this particular project is so immense. If research of this nature was an easy task, we should have written tried and tested formulas for perfect businesses, leaders, schools, cities, et al during our 3,000 plus years of civilization.
Unlike many business books that are based on hype and after-market consulting services, Good to Great is mainly based on good old fashion business principles. Sure, Collins renames some of them with gimmicky names like Hedgehog Concept and The Flywheel. But for the most part, Collins's book has some sound principles in it that the reader shouldn't necessarily take as a game plan, but rather a starting point for conversation, reflection and inspiration both for themselves and their team.
How does his research reflect in the current economic slowdown? If I were to apply Collins' theory in today's recessionary environment, I would show one priority above all others: to acquire as many of the best people as possible. I'd put off everything else to fill my bus. Because things are going to come back. The flywheel is going to start to turn. And the single biggest constraint on the success of any organization will be the ability to get and to hang on to enough of the right people.
To sum up, Good to Great can be a very useful tool when its principles are adapted to the user's unique situation and variables.

3 out of 3 people found this review helpful.

I thought this book was well written and a pleasure to read. Whi

I thought this book was well written and a pleasure to read. While reading I could not help but wonder where are these companies now? Many are no longer in business and several have been able to continue with their success. Circuit City, Fannie Mae, and Gillette are three that are no longer “great”. Two that seem to still be thriving are Walgreens and Wells Fargo. Although three out of the eleven companies studied are no longer in business I do not think this discredits Collins’ work. His overall message that, “Greatness is not a function of circumstance. Greatness, it turns out, is largely a matter of conscious choice” can still be applied to anyone who wants to enhance their company.

The book is instructive and accessible and I think this is a great book to add to the curriculum for all business students. By using metaphors Collins makes his ideas easy to understand and follow which will become critical as future business executives try to emulate. He gives concrete examples of company’s successes and failures and then applies tangible models that are easy to imitate. I also believe that this book goes beyond just a business book. This book can be used for several different professions and for the overall betterment of one’s life. We all look to become an effective leader, find something that we are truly good at, and surround ourselves with people who help achieve our goals. Sometime in life it better to think like Collins and not always try to come up with the answers, but better to ask the right questions.

2 out of 2 people found this review helpful.

This book has become a religion for me...

I read Good to Great about four years ago and I am constantly going back to it to keep me on the course. I was amazed not only by the revelations, but also by how much of the ideas seem to be common sense, but really aren't in the business world. It became by goals to find a company matched the ideals laid out in this book (and happily, I think I have). The book is very easy to read and the research is laid out and explained in a very thoughtful way.

There are lessons here well beyond business. A high school teacher friend of mine read this and said he found it very insightful to his world as well.

A must read.

2 out of 2 people found this review helpful.

read together with 'enduring success'

As Circuit City went under and some of the other Good to Great companies struggled critics pointed out that Jim Collin's companies are not quite that great and hence his suggestions not useful. I think they are wrong. It does not matter how well these companies do in the long run. The book uses a specified observation period (15 good, followed by 15 great years) and develops propositions based on this period.

A more valid criticism of the book is related to the method. Case study research - as the method is called in management sciences - allows you to develop ideas and theories not test them. Jim Collins could be more explicit about this.

Once we establish what the book and can't do, it actually provides great thoughts on how you can turn your company from good to great. But what next? How do you stay there. Jim Collins'suggest you take a look at 'Built to Last', a book that describes how firms succeeded over many decades. It's a great read but a little dated (17 years since it was first published). I recommend that you take a look at the newly published 'Enduring Success. What we can learn from the history of outstanding corporations'. Same question but incorporation of fresh management thoughts plus connection to current debates.

1 out of 2 people found this review helpful.

I found Jim's book to be a shot of reality of what it takes to s

I found Jim's book to be a shot of reality of what it takes to succeed as a company in a world caught up in the quick fix. As an entrepreneur, I have seen first hand that the principles Jim outlines as being as being critical to an organization's success. It was great to read a book that focused on building strong fundamentals and sticking to the basics rather than always looking for solutions through tactics.

Good book, some spelling and other errors in the Nook book

The book itself is pretty good. It's not one I would have picked up on my own to read, it was for school. So in that light I thought it was good. Definitely learned a few things. I was a little surprised to find spelling and other errors in the text, but then I've found that in several ebooks I have read.
Barnes & Noble, it would be a good idea to spell & error check your ebooks a bit better. Thanks!

Interesting

This is a very interesting look at what makes businesses succeed in general, not only in their own industry. Having read Built to last and this, I think both are great reads with valid points to consider. While some companies in this book are no longer around, you can see reasons why too.

A must read for successful leaders and CEO'S

A must read for successful leaders and CEO'S

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DO NOT READ!

This book was a waste of my time. Many of the corporations that were considered "great", are no longer in business (Circuit City), or no longer doing well (Fannie Mae) proving that the characteristics of the great companies mentioned are false.

0 out of 2 people found this review helpful.

The best business book ever

It's hard to give a bigger compliment than that. I've re-read the book many times and always love it.

0 out of 3 people found this review helpful.

This is a must read book

This book has great value and really helps you understand how good companies over a sustained period of time are able to become great companies. Good research, examples, and analysis of how and why. A good book for a small business owner or a corporate executive.

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0 out of 2 people found this review helpful.

Get the right people on the bus first!

The analysis of "Good-to-Great" companies and several comparison companies was successfully shared from the perspective of Collins and his team. The ability to define what it takes to achieve greatness was placed in terms that could be understood and applied in situation in and out of the corporate world. For example, Collins' comparison of different leadership styles and how they affect the longevity and sustained success of a company was described in full detail with real industry examples. By describing the different hierarchies of leadership, Collins was able to place comparative limits between the "good"
and "great" companies. In addition, the traits of the "level 4" versus "level 5" leaders were utilized in defining critical concepts throughout the book.
In describing the "great" companies that were analyzed, Collins was able to explain how they each had their own "Hedgehog Concept". The great companies used this hedgehog concept in order to put themselves ahead of the market and stay on top of their industry. This was a prime example of a concept that can be used in everyday life. Think about it, take what you can be the best at in the world and focus on that option and work towards that goal whether it is baseball, making your company a Fortune 100 company, or even playing an instrument.
Collins ties the main leadership properties, the culture of discipline, and the hedgehog concepts into a more thorough description when discussing the breakthrough of a company. The Flywheel concept explains that the breakthrough to greatness is progressive and momentum is built up, however, there is not a defined transition point. This was an amazing concept that was well defined as it showed that changes do not happen instantaneously, they take time. The right team has to be built created in order to start turning the wheels.
Overall, I would recommend this book as the concepts are broken down into understandable and general vocabulary that can be understood and appreciated from the college student level on up. Collins has an amazing ability to apply the concepts to actual situations that allow the reader to feel as if they are conversing with the author while reading through the literature. The concepts are laid out very well for application in the corporate world, especially for students who are preparing for their careers. This is knowledge that all business leaders, management teams, and associates should be familiar with as it provides another view on achieving greatness.

Great Book!

Got me motivated to get my company on the right track. Just what I needed.

Good to Great well researched

Fascinating book that compares "good" companies to those that have soared to greatness, finding the commonalities and differences. Good resource for all business and non profit leaders.

Excellent business book

Ever wonder how your company can make the leap from Good to Great? This book applies to everyone who wants to make a difference in their company and grow in their career. A few of the key points:

What makes a Level 5 leader? The Good to Great companies are all led by a Level 5 leader. This book will help you understand what a Level 5 leader is. First who, then what. I can't count the number of times I've seen a company hire just because they need to hire. It is very important to make sure you hire the right person. The hedgehog concept is an excellent philosophy. Knowing one big thing is to make your company great is much more important than knowing many smaller things.

These are just a of the topics that made this book great which is a must read.

Great Business Sense

Found the information so useful, I went back to B&N and ordered a copy as a gift for an associate.