jimcollins   34

Freakonomics » From Good to Great … to Below Average
"Ironically, I began reading the book on the very same day that one of the eleven “good to great” companies, Fannie Mae, made the headlines of the business pages. It looks like Fannie Mae is going to need to be bailed out by the federal government. If you had bought Fannie Mae stock around the time Good to Great was published, you would have lost over 80 percent of your initial investment.

Another one of the “good to great” companies is Circuit City. You would have lost your shirt investing in Circuit City as well, which is also down 80 percent or more. Best Buy has cleaned Circuit City’s clock for the last seven or eight years.

Nine of the eleven companies remain more or less intact. Of these, Nucor is the only one that has dramatically outperformed the stock market since the book came out. Abbott Labs and Wells Fargo have done okay. Overall, a portfolio of the “good to great” companies looks like it would have underperformed the S&P 500.

I seem to remember that someone did an analysis of the companies highlighted in Peters and Waterman‘s 1980′s classic book In Search of Excellence and found the same thing.
What does this all mean? In one sense, not much.

These business books are mostly backward-looking: what have companies done that has made them successful? The future is always hard to predict, and understanding the past is valuable; on the other hand, the implicit message of these business books is that the principles that these companies use not only have made them good in the past, but position them for continued success.

To the extent that this doesn’t actually turn out to be true, it calls into question the basic premise of these books, doesn’t it?"
2008  goodtogreat  jimcollins  leadership  administration  management  business  businessbooks 
march 2015 by robertogreco
Jim Collins - Articles - Great by Choice
#jimcollins keynote was great at #itn12 - here's the gist of it:
Motivation  JimCollins  itn12 
november 2012 by sleeman
The Fox and the Hedgehog: Which one are you? | Ian Bell
More recently, Jim Collins (author of “Good to Great“) took this concept into the business world in his book and it is one of the central unifying themes of his work.  In his book and other writings Collins comes down pretty hard on Foxes:

Those who built the good-to-great companies were, to one degree or another, hedgehogs. They used their hedgehog nature to drive toward what we came to call a Hedgehog Concept for their companies. Those who led the comparison companies tended to be foxes, never gaining the clarifying advantage of a Hedgehog Concept, being instead scattered, diffused, and inconsistent.
business  jimcollins  foxhedge 
march 2012 by Walpole
Jim Collins - Books - Good to Great and the Social Sectors
We must reject the idea—well-intentioned, but dead wrong—that the primary path to greatness in the social sectors is to become "more like a business." Most businesses—like most of anything else in life—fall somewhere between mediocre and good. Few are great. When you compare great companies with good ones, many widely practiced business norms turn out to correlate with mediocrity, not greatness. So, then, why would we want to import the practices of mediocrity into the social sectors?
jimcollins  socialsector  bemorelikeabusiness  businesslike 
november 2010 by SuePGardner
Schumpeter: The curse of the alien boss | The Economist
"One of the few things that management theorists agree on is that recruiting bosses from outside is something that you should avoid if you can. Listen to über-guru Jim Collins: in “Good to Great”, he observed that more than 90% of the CEOs of his sample of highly successful companies were recruited internally. Or consult Rakesh Khurana of Harvard Business School: in “Searching for a Corporate Saviour”, he described how companies that invest their hopes in a charismatic outsider are usually disappointed. Or read the painstaking studies that come out of the Academy of Management: they show that even companies that are having a hard time are better off sticking with an insider. The curse of the alien boss is particularly potent in the high-tech sector: think of John Sculley’s disastrous reign at Apple or Carly Fiorina at Hewlett-Packard."
leadership  insiders  outsiders  jimcollins  nokia  strategy  outsider  from delicious
august 2010 by robertogreco

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