Good to Great: Responding to Change. I think that Jim Collins' book is essential for future entrepreneurs, managers, and leaders in the Philippines. The tips given by the author are useful in the dynamic, ever-changing, and constantly fluctuating business environment of the Philippines. Jim Collins described the kind of leader who can address these changes as a Level 5 leader "a paradoxical blend of personal humility and professional will." The Level 5 leader is not the "corporate savior" or "turnaround expert". Most of the CEOs of the Good To Great companies as they made the transition were company insiders. They were more concerned about what they could "build, create and contribute" than what they could "get - fame, fortune, adulation, power, whatever". No Ken Lay of Enron or Carly Fiorina of HP, the larger-than-life CEO, led a Good To Great company. This kind of executive is "concerned more with their own reputation for personal greatness" than they are with "setting the company up for success in the next generation". Transformations from Good to Great start when a company finds a CEO who is humble but iron-willed, and who is ambitious for the company, not necessarily for himself or herself.
In this book, Jim Collins also challenges the notion that "people are your most important asset" and postulates, instead, that "the right people are." Despite the author's emphasis on finding the right people, there's no evidence that a company has to have concern for its employees as a core value for it to be great. There are a number of inherently great companies that didn't have this. I don't think Walt Disney cared about his people. He cared about films, and Disneyland, and smiles of kids. On the other side, with Hewlett-Packard and IBM, you had the antithesis of Walt Disney. When you look at corporate history, what matters is not what core values you have but that you have core value, and that you believe them. As another example, take David Maxwell's bus ride. When he became CEO of Fannie Mae in 1981, the company was losing $1 million every business day, with $56 billion worth of mortgage loans under water. The board desperately wanted to know what Maxwell was going to do to rescue the company. Maxwell responded to the "what" question the same way that all good-to-great leaders do: He told them, "That's the wrong first question.
In this life it is essential to base your work around your beliefs and to feel passionate about what you do. Then spreading your passion for your work onto others is how you grow as an individual and as a company. Which is what I felt after reading the #1 core value.
There are several core values I appreciate most. The first one that stood out is an adventure, which is defined as “new and challenging opportunities, excitement, risk”. For some people, adventure always represents tough challenges and high risk with low return. They prefer a stable job because they can earn guaranteed wages without
With this mindset in place change can happen without any problems. Having transformational leaders being viewed as change agents, the culture within an organization should transform smoothly. Effective leadership is enhanced when leaders can inspire their followers to accept change by communicating a compelling vision of the future and motivating willingness to work in the new manner (Jones & Rudd, 2008).
Good to Great by Jim Collins is a book which illustrates an answer for the question whether a good company can turn into a great company. In this book, Jim Collins suggests the ways by which companies can outperform the market leaders. The author has certain list of companies like Abbot lab, Circuit city, Fannie Mae,Gillette,Kimberly Clarak,Kroger,Nucor steel, Philip Morris,Pitney Bowes,Walgreens and Wells Fargo. According to author good is the enemy of great and thatis why have little companies which are great. The author says that the transformation from good to great does no just happen. It needs to be built through process which with three broad stages. Jim Collins suggest some components in a company to have it achieve great levels
N.T Wright is a leading New Testament scholar who has worked at several admirable universities publishing an abundance of books on the apostle Paul, justification, the life and ministry of Jesus, along with a number of other books on New Testament topics. In Simply Good News N.T Wright is arguing that “... the idea of seeing the Christian faith as news that is good is itself, ironically, news to many people today” (2). He spends the next eight chapters of the book defending his thesis by discussing multiple approaches that support his hypothesis and reinforce his theological doctrine. In the first section of the text N.T
What are the single most important characteristic people want to their employees? Reliability, responsible, good attitude? No. The answer is integrity. Employers want to be told the truth. They want people who have a moral compass and who are honest. In a world of spin and branding, and buying and selling, the concept of honesty seems to be dismissed, but it always comes back to bite those who ignore it in the butt. We see in the front pages of newspapers, magazines, and websites who are regularly crowded with stories of the great and the good who lied, stole, and cheated their way to fame, wealth and destruction.
According to the author of “Built to Last”, Good to Great outlines a representation for rotating a high-quality, regular or even ordinary corporation into a grand one. The book includes a helpful illustration that brings all the presumption collectively in a significant and unforgettable manner. By bringing mutually disciplined individuals, using restricted thought and action companies can makeup and penetrate the barrier that seize them from getting to greatness. The author, Jim Collins and his explore team put together collectively a roll of “good to great” organizations and compared them to the “contrast companies” in order to verify what distinguish the leaders from the rest.
“Leading Change: Why Transformation Efforts Fail” is an article written by John P. Kotter in the Harvard Business Review, which outlines eight critical factors to help leaders successfully transform a business. Since leading requires the ability to influence other people to reach a goal, the leadership needs to take steps to cope with a new, more challenging global market environment. Kotter emphasizes the mistakes corporations make when implementing change and why those efforts create failure; therefore, it is essential that leaders learn to apply change effectively in order for it to be beneficial in the long-term (Kotter).
After the success of the company, it was not reported that Kodak continued to hire, keep and invest quality workers to prolong the progress of the company (Bolman & Deal, 2008). Bolman and Deal (2008) reported that by hiring the right people, big name organizations became superior due to having the right staff. However, it is not enough just to hire the right staff, investing and keeping them is also vital to any company’s success (Bolman & Deal, 2008). According to Bolman and Deal (2008), in order to maintain the workforce, organizations need to protect employees’ jobs, promote employees’ within the company and give employees ownership within the company. Investing in employees meets the core basic needs theory which in return attracts better motivated workers to do an excellent work (Bolman & Deal, 2008). Bolman and Deal (2008) implied that this basic needs
If the organization succeeds then the employees also succeeds. Employees must see the bigger picture and must feel that they are part of the organization and not just a one man show.
In Good to Great, Jim Collins discusses major key points companies have used to go from a good company to a great one. He did this by discussing seven characteristics companies should listen and absorb to transition from being good to becoming great. These characteristics included: level 5 leadership, first who…then what, confront the brutal facts, the hedgehog concept, a culture of discipline and the flywheel. Companies who can approach these successfully are the ones who enable themselves to separate from other competing companies. Furthermore, the statement Jim Collins said, which caught my attention immediately, was not in these seven characteristics, but in the first chapter of the book. He stated, “Good is the enemy of great.” This sentence consisting of six words I believed was most powerful throughout the book. Having said this, he discusses how typically companies are satisfied with just good, good is good, no one ever tries to take another step to try and become great. While this book is discussing businesses, it also applies to everyday life; am I doing everything to be great, or am I too just satisfied with good? Reflecting back on past work, school and overall experiences, it came to my attention not all the time did I try and be great, for I was content with good, good was good for me. I never took an extra stride to try and become great at what I was doing. Chapter 1, I felt to be the most influential, it truly grasped my attention and made me think to never settle for just good because someone else out there is taking extra steps to be great. Moreover, while all the characteristics have a significant meaning in the text and assist one another in transitioning companies from good to great, the Hedgehog Concept is on...
How well a business manages its assets and resources predicates its overall success. Companies that spend financial resources foolishly are apt to find themselves in bankruptcy. Companies that work capital equipment resources beyond the machine’s capabilities or for other than intended purposes are apt to experience downtime and/or lose the equipment to failure. The same premise holds true for a company’s human assets. However, unlike other company assets, which depreciate over time, human assets appreciate over time when managed properly. The article, Importance of Human Resource Investment for Organizations and Economy: A critical Analysis, explains the importance of managing human assets as follows:
Becker, B., Huselid, M. & Ulrich, D. 2001, The link between people and strategy Companies often treat workers as a cost, rather than as a source of competitive advantage. Brian Becker, Mark Huselid and Dave Ulrich suggest a way of valuing the most important intangible asset, London (UK).
What works for one might not work for another, but at the end of the day, each leader is following their set of values. I hope to continue my journey to being a great leader and am thankful for all of the resources available to me to expand my knowledge and skill-set in the leadership arena. For those starting out in the business world, there are many current leaders to emulate, including CEOs Tim Cook, Jeff Bezos of Amazon, Tony Hsieh of Zappos, and Meg Whitman of HP. These exceptional men and woman have great leadership traits that are worthy of
Companies should have only enough workers to perform essential operational functions. Hire employees who are well trained and able to pro-vide results. Moreover, employees should be happy, keep them motivated. Remember that just being good at one thing doesn't mean it's enough for the business to be successful. The owner should be adept at several things such as hiring, accounting, marketing, public relations, etc. And, although initia...