Good to Great

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Good To Great is a book on different management-related concepts that analyzes the key factors behind every successful company’s profitable rise. Summary Of The Book The very title of the book Good to Great summarizes what it is about. The book explores why some companies go from being good to great, while others seem to lose their way. The success of a business venture is ultimately determined by its financial performance. For this reason, in order to identify successful businesses, the author studies the performance of many successful companies and identifies several important factors in this book. His findings have been encapsulated into seven basic principles that define the companies that have made the transition from good to great. The author together explains the difference between normal companies and great companies with the help of five findings: The Flywheel and The Dorm Loop, A Culture of Discipline, The Hedgehog Concept, Technology Accelerators, and Level 5 Headers. He states that identifying the right people is necessary for any organization. Collins stresses on the need to find the right people, so that they can be tested in various positions. The book also states that humble leaders who are driven by a passion to do what is best for their company are also important for every company. The book also talks about three interlaced concepts - passion, ability, and driving resource. Under the Flywheel effect, he explains how the cascading effects of many small moves or initiatives interact with each other. The author and his team of researchers have used tough benchmarks to identify a set of companies and study their growth. Over a five year period, the team has studied and analyzed the performance of twenty eight companies to come up with their findings. About Jim Collins James C. Collins (Jim Collins) is an American business coach, consultant, and author. Collins is a regular contributor to high profile business publications like Fortune, Harvard Business Review, and Business Week. He has written many other books on business management, including How The Mighty Fall and Why Some Companies Never Give In and Great By Choice. He was born in 1958 in Boulder, Colorado. He is the grandson of the famed test pilot Jimmy Collins. James Collins is married to former Triathlon champion, Joanne Ernst.