What we can learn from Good-to-great companies?
How does strategic management differ at good-to-great companies versus mediocre ones?
# Finding a simple “Hedgehog concept (Shaded part – Intersection of passion, skill, and economic value)“ provides a clear path to follow.
# Success comes from many tiny incremental pushes in the right direction.
# New technology should be viewed only as an accelerator toward a goal, not as a goal itself.
How do the people and culture differ at good-to-great companies versus mediocre ones?
# Team drives successful transformations from good to great. Right people in the right place are the foundation of greatness.
# Success requires confronting the nasty facts, while never losing faith. Leaders must create an environment where the brutal facts are aired without hesitation.
# A culture of rigorous self-discipline is needed to adhere to the simple Hedgehog concept.
Follow the above steps to build a great company.