A Joosr Guide to Good to Great by Jim Collins

Another idea is to identify what it is that you can do or be better at than everyone else in the world. Whatever that thing is needs to become the focus of your business. Sometimes, companies find that what they can do best is nothing they are doing now, but identifying that thing and striving to do or be that is the only way to become great.
Finally, companies must identify how they can most effectively make a profit. One of the main functions of a business is to create revenue, and all companies that achieved greatness were able to identify the best ways to do so. These companies worked out how they could be most economically successful, and then did it.
Sometimes, doing so meant changes must be made. For example, Walgreens used to have restaurants, too. Instead of trying to continue with both restaurants and drugstores, they chose to focus on the better investment, and leave food service. Drugstores were the intelligent economical choice, and CEO Charles R. “Cork” Walgreen III made it.
If any opportunities or actions do not fulfill all three of these ideas simultaneously, the companies that achieve greatness ignore them. It takes a dis

first of these ideas is that you need to identify your passion.

Choosing a flashy leader from the outside to bring into a company is a mistake that many mediocre companies make, as was the case for Scott Paper with Al Dunlap. He was a braggart who yelled loudly about his accomplishments, but his company was eventually acquired by Kimberly-Clark’s modest but driven CEO, Darwin Smith. A leader must be a workhorse, and not a show pony.

For them, the goal is to set future leaders up for even greater success, even if it means they will be overshadowed by a successor.

They seem mild because of their reserved nature, but Level-5 leaders also have a professional will. They have strong ambitions, but these are directed for and through the company rather than themselves.

Level-5 leaders are self-effacing, and not egocentric like the Level-4 leaders of average companies. A Level-5 leader’s sole concern is company success, even if they don’t personally receive accolades and credit for achieving it. They don’t want the company to fail when they leave or pass away, and will make it their mission to put excellent succession plans in place for their exits.

Collins and his team expected to find that the most charismatic, strong-willed, famous executives would be the ones who led good companies to greatness, but actually the most effective leaders were modest and reserved.

Technology is a tool used by great companies to drive their organizations toward the goals outlined in the company plan.

your company is going to implement new technology, it must be carefully selected and have a clearly defined purpose.

Don’t hire anyone who doesn’t have a place in a productive future. Make sure every employee is exactly where they need to be, and that you place the best people where you can keep them. The right team will work as a unified force to find the best direction and keep to it.