Jim Collins, already established as one of the most influential management consultants, further established his credibility with the wildly popular Good to Great: Why Some Companies Make the Leap...and Others Don’t, originally published in 2001. The book went on to be one of the bestsellers in the genre, and it is now widely regarded as a modern classic of management theory.
Some of the thought provoking quotes of Jim Collins mentioned in the book are as following:
➢ “Good is the enemy of great.”
➢ “Greatness is not a function of circumstance. Greatness, it turns out, is largely a matter of conscious choice, and discipline.”
➢ “…their ambition is first and foremost for the institution, not themselves”: about level 5 leaders.
➢ “For, in the end, it is impossible to have a great life unless it is a meaningful life. And it is very difficult to have a meaningful life without meaningful work.”
➢ “Faith in the endgame helps you live through the months or years of buildup.”
➢ “If we only have great companies, we will merely have a prosperous society, not a great one. Economic growth and power are the means, not the definition, of a great nation.”
Gist of the book is arranged here chapter wise.
Chapter 1: Good is the Enemy of Great
The first chapter of the book lays out the criteria that Collins and his research team used in selecting the companies that served as the basis of the meta-analysis that provided the findings set forth in the book. The most important factor in the selection process was a period of growth and sustained success that far outpaced the market or industry average. Based on the stated criteria, the companies that were selected for inclusion were Abbott, Fannie Mae, Circuit City, Gillette, Kimberly-Clark, Kroger, Nucor, Philip Morris, Pitney Bowes, Walgreens, and Wells Fargo.
Collins also offers a few of the most significant findings gleaned from the...