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Great by Choice

320 pages, 2011

business & management

business & management

1082 books
self-improvement

self-improvement

909 books
Takeaways
Description

In Great by Choice, Jim Collins and Morten T. Hansen examine the principles for building a great enterprise in unpredictable, tumultuous, and fast-moving times. The new study: Great by Choice distinguishes itself from Good to Great by its focus on the kind of unstable environments faced by leaders today. 

The new findings: Great by Choice describes how leaders increase their personal discipline and develop greater trust in the process of learning, while also making fast decisions and taking decisive action more reliably than they would be if they worried about what everyone else was doing.

This research was supported by the Kellogg Innovation Fund at the Kellogg School of Management at Northwestern University.

Embrace the 20 Mile March

In 'Great by Choice', Jim Collins introduces the concept of the '20 Mile March'. This is a metaphor for setting clear performance markers and sticking to them, no matter what. It's about consistency and discipline, not speed. So, take a look at your own life and see where you can apply this principle.

Fire Bullets, Then Cannonballs

Collins suggests that successful people and companies don't just take big risks out of the blue. They first fire 'bullets' - small, low-risk actions to test the waters. Once they find something that works, they then fire 'cannonballs' - making big, decisive actions based on what they've learned. This is a great strategy to apply in your own decision-making process.

Lead Above the Death Line

In the book, Collins talks about the 'Death Line', a point of no return where companies either succeed or fail. He suggests that great leaders are those who can navigate their teams above this line, through careful planning and risk management. This is a valuable lesson for anyone in a leadership position.

Cultivate Productive Paranoia

Collins encourages us to develop what he calls 'productive paranoia'. This means always being prepared for the worst, even in the best of times. It's about staying vigilant and not becoming complacent. So, dig into this concept and see how you can apply it in your life.

Embrace the SMaC Concept

SMaC stands for Specific, Methodical, and Consistent. Collins found that the most successful companies had a SMaC recipe - a set of durable operating practices that create a replicable and consistent success formula. Explore this concept and find out how you can create your own SMaC recipe for success.

Quotes 2

Great by Choice is a deep analysis of how to thrive in chaotic and uncertain times, a must-read for anyone seeking to build a successful business.

Bill GatesBill Gates - Microsoft Co-founder

Great by Choice is a guidebook for leading in a world where the future is uncertain, unpredictable, and constantly changing.

Tim CookTim Cook - Apple CEO
Bill GatesTim Cook

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