or Can a good person become a great personality?
From their extensive research, they concluded few important points :-
1. It is POSSIBLE to turn good company into great in the most unlikely of situation.
Not only a company can improve to be the great, a person too with perseverance and consistency. Once we know what we want to achieve in the future, it is easier to focus our energy toward them.
2. Larger than life celebrity leaders who ride in from the outside are NEGATIVELY correlated with taking a company from good to great.
Which precisely make sense as people who grew with the company knew the inside out of the company. They are familiar with the company work ethic and culture. They have an in depth knowledge about the company. They have good relationship with other employees and employer and they are able to communicate comfortably with each other.
3. The good to great companies not only focus principally on what need to be done to be great but also focus their energy on what should not be done or what to avoid or stop doing totally.
The faster an organization identified their focus, they are able to channel all their energy, time and resources in the right direction as swiftly as possible.
4.Technology can ACCELERATE a transformation but it cannot CAUSE a transformation.
Using the technology as a mean to get informative input for a company to learn more about what need to be done so they can produce even a better output to capture the targeted market segment.
5. Mergers and acquisition play virtually no role in igniting a transformation from good to great. According to Jim, two big mediocrities joined together never make one great company.
But what if two companies merged to become an even bigger entity and have bigger funds to be able to compete with the big boys globally?
6. The good to great companies paid scant attention to managing change, motivating people or creating alignment.
When employees feel appreciated, they feel motivated to give their best for the company. When employees know they have equal chance for growth and be rewarded accordingly, they less likely feel dissatisfied.
The findings....
The Timeless Principle of Good to Great :
1. Good is ENEMY of Great
Few people attain great lives because most of us loved settle for a good life. (Ouchhh...). It is also true for an organization or a country. When we feel GOOD in our comfort zone especially very very good, it makes us fear or lazy to step out of our zone into an unknown battle to emerge as a GREAT winner.
2. Level 5 Leadership
Who is Level 5 leader?
An individual who blends extreme personal humility with intense professional will
HUMILITY + WILL = LEVEL 5
Level 5 leaders have distinctively characteristics such as self-effacing, quiet, reserved and even shy.
Level 5 leaders are self-effacing individuals who displayed the fierce resolve to do whatever needed to be done to make it great.
3. First Who.... then What
First get the RIGHT people on board.
Off load the wrong or unsuitable members (unproductive family members included if needed)
Get those RIGHT people in the RIGHT seat.
then figured out WHAT need to be done and WHAT need to avoid totally.
Now MOVE.....
4. Confront the Brutal Facts (Yet Never Lose Faith)
Maintaining unwavering faith is very challenging.We need a very high mental strength to put us through the brutal facts, whatever they might be until we prevail in the end. Never lose faith in God and ourselves to do the best we can. One step at a time is better than being still at any one point of time. There are a lot to learn - diversify knowledge. Meeting new people - expand networking.
5. The Hedgehog Concept (Simplicity within the Three Circles)
Just because something is our core business or been doing it for so long or one of the pioneer in the industry, does not necessarily mean we can be the best in the world. We should know when enough is enough. Confront the brutal facts. Accept them. Restart. Rebuilt. Rediscover. Recharge to the new frontier.
6. A Culture of Discipline
When we are self-discipline, we don't need hierarchy. Combination of culture of discipline and an ethic of entrepreneur will produce the magical alchemy if great performances.
7. Technology Accelerators
Good to great companies never use technology as the primary means of igniting a transformation. Sometimes they are pioneers in the application of carefully selected technologies.
8. The Flywheel and the Doom Loop
Those who launch revolutions, dramatic change programs and wrenching restructuring have high probability of FAILURE to make transition. The good to great transformation never happened in one fell swoop. The process take a relentlessly pushing a giant heavy flywheel in one direction, build momentum up to a point of breakthrough and beyond.
Interesting finding. Can't argue with them. It is based on facts and figures. Not only for an organization. It could be apply to anything. Dramatic changes scare us. We scare the unknown. When we're in danger, we retaliate as a form of self-defence. It's human basic instinct. No matter how noble the intentions are, dramatic changes will turn the whole situation from good to doom.
9. From Good to Great to Built to Last.
In the end, when we reach our destination - the GREAT ( it'll take years to get there with the right formula), it's time for us to find the right method to sustain our effort.
8/10
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