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Jim Collin's Good to Great examines companies that have not only endured over time, but who managed the transition from being good companies to becoming outstanding performers. The eleven companies found to have taken this leap managed to outperform the stock market 6.9 times over fifteen years. The author set out to understand what distinguished great organizations from a carefully selected group of companies that did not make the grade.
The research team came up with some unexpected outcomes. At the time of the transition from Good to Great all eleven companies were being led by Level 5 Leaders. These people showed a unique combination of humility and professional will. They were prepared to do anything necessary for the benefit of the organization.
"Good to Great" by Jim Collins explores how companies can transition from being merely "good" to achieving sustained greatness by focusing on key elements like hiring the right people ("getting the right people on the bus"), cultivating a disciplined culture, and identifying their core strengths through the "Hedgehog Concept," essentially finding their unique niche where passion, competency, and market need intersect; this transformation is achieved through a gradual, consistent process, not a sudden leap, often visualized as a "flywheel" building momentum over time.
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