good to great chapter 9: from good to great to built to last
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DESCRIPTIONGood To Great Chapter 9: From Good to Great to Built to Last. Team 3 Tiffany Oswald Kristen Steinbrecher McLean Jones Matt Youngs Amye Cervenka. Built to Last. Based on a six year research project from the early 90s - PowerPoint PPT Presentation
Good To GreatChapter 9: From Good to Great to Built to LastTeam 3Tiffany OswaldKristen SteinbrecherMcLean JonesMatt Youngs Amye Cervenka
Built to LastBased on a six year research project from the early 90sAnswered the question as to what it takes to build a great company from the ground upCompanies were compared that endured over the decades or even centuriesBuilt to Last was out of the picture when researching Good to Great, to achieve minimal bias from previous work
Comparing the TwoThe two studies build on each other and can be used togetherGood to Great as seen as a prequel to Built to Last even though it was written later, says the authorThe two books can also coincide with each otherEstablished Company, Good to Great Concepts, Sustained Great Results, Built to Last Concepts, Enduring Great Company
Good to Great in the Early Stages of Built to LastWal-martBegan in 1945 as a single dime storeBuilt second store seven years laterTook 25 years to build 38 storesFrom 1970-2000 had 3000 stores and over $150 billion in revenue
Good to Great in the Early Stages of Built to LastHewlett PackardBased on who not whatThe first founding meeting was on August 23, 1937After WWII, hired a bunch of people streaming out of government labsNo company can grow revenues consistently faster than its ability to get enough of the right people to implement that growth and still become a great company.
Core Ideology : The Extra Dimension of Enduring GreatnessBill HewlettInterview with ole Bill HewlettH.P. and their set of Core ValuesThe Extra Dimension?
A Brief NoteEnduring great companies dont exist merely to deliver returns to shareholders.
Merck CaresCure for the blindConsistently outperformed the market from 1946-2000Doesnt consider their ultimate reason for being as making money
A Note on Core ValuesEssential for enduring greatnessButDoesnt seem to matter what these core values areplease explain
The Walt Disney StoryWalt was a Kansas boy who moved to LA to get into the movie bizCouldnt get hiredSet up a camera in a garage and made his own cartoonsWalt opens up Disney World and the rest of the Disney ParksDisneys core values
Good Bhags, Bad BhagsFour Key IdeasEach of the Good to Great findings enables all four key ideas from built to last
1. Clock Building, Not Time TellingBuild an organization that can endure and adapt through multiple generations of leaders and life cycles.(pg.197)The opposite of being built around a single leader or single idea
2. Genius of ANDEmbrace both extremes or a number of dimensions at the same time. Instead of choosing A or B, figure out how to have A AND B purpose AND profit, continuity AND change, freedom AND responsibility, etc.(pg.198)
3. Core IdeologyInstill core values and core purpose as principles to guide decisions and inspire people throughout the organization over a long period of time.(pg.198)Dont let one factor drive you such as money
4. Preserve the Core/ Stimulate Progress Preserve the core ideology as an anchor point while stimulating change, improvement, innovation, and renewal in everything else. Change practices and strategies while holding core values and purpose fixed. Set and achieve BHAGs consistent with the core ideology.(pg.198)
BHAGPronounced bee-hagShort for Big Hairy Audacious Goal
Three points in a BHAGWhat you are deeply passionate aboutWhat you can be best in the world atWhat drives your economic engine
Remember, it is much easier to become great than to remain great. Ultimately, the consistent application of both studies, one building on the other, gives the best chance for creating greatness that lasts.(pg.204)
Why Greatness?Student asked Why should I try to build a great company? What if I just want to be successful? (p.205)It is no harder to build something great than to build something good. (p.205)High School cross-country exampleThe search for meaningful work21Not why, but howThe real question is not, Why greatness? but What work makes you feel compelled to create greatness?Becoming a Level 5 leaderMeaningful workResponsibilities line up with personal three circles22