Each of my Vistage Advancing Leader groups is currently reading Good to Great by best-selling author Jim Collins. I have also gone back and re-read the book, and it is a classic. See below for my review of the book in March 2002.
Ever wonder how good companies transition into great companies? Jim Collins, author of the best-selling book Built To Last, was struck by this question and initiated an enormous research project to find out the answer. His results are documented in his latest book, Good to Great.
First, Collins set the criteria for a Great company. Only eleven global companies met the criteria. These companies not only had to achieve incredible financial results but also had to maintain those results for at least fifteen years. The resulting companies will surprise (shock) you. They include Walgreens, Gillette, and Fannie Mae. The list does not include companies that we would expect to be on the list, such as General Electric, IBM, or Coca-Cola.
Next, Collins and his research team set out to determine what made for such greatness in these companies. What were the key determinants of Greatness? The findings were surprising. They do not include technology, mergers and acquisitions, or famous CEOs.
This book is a must-read for any business owner, big or small. Purchase your copy of Good to Great. This is a paid link.