THE NEW QUESTION Ten years after the worldwide bestseller Good to Great, Jim Collins returns with another groundbreaking work, this time to ask: Why do some companies thrive in uncertainty, even chaos, and others do not? Based on nine years of research, buttressed by rigorous analysis and infused with engaging stories, Collins and his colleague, Morten Hansen, enumerate the principles for building a truly great enterprise in unpredictable, tumultuous, and fast-moving times.
THE NEW STUDY Greatby Choice distinguishes itself from Collins's prior work by its focus not just on performance, but also on the type of unstable environments faced by leaders today. With a team of more than twenty researchers, Collins and Hansen studied companies that rose to greatness - beating their industry indexes by a minimum of ten times over fifteen years - in environments characterized by big forces and rapid shifts that leaders could not predict or control. The research team then contrasted these '10X companies' to a carefully selected set of comparison companies that failed to achieve greatness in similarly extreme environments.
THE NEW FINDINGS The study results were full of provocative surprises. Such as: * The best leaders were not more risk taking, more visionary, and more creative than the comparisons; they were more disciplined, more empirical, and more paranoid. * Innovation by itself turns out not to be the trump card in a chaotic and uncertain world; more important is the ability to scale innovation, to blend creativity with discipline. * Following the belief that leading in a 'fast world' always requires 'fast decisions' and 'fast action' is a good way to get killed. * The great companies changed less in reaction to a radically changing world than the comparison companies.
The authors challenge conventional wisdom with thought-provoking, sticky, and supremely practical concepts. They include 10Xers; the 20 Mile March; Fire Bullets then Cannonballs; Leading above the Death Line; Zoom Out, Then Zoom In; and the SMaC Recipe. Finally, in the last chapter, Collins and Hansen present their most provocative and original analysis: defining, quantifying, and studying the role of luck. The great companies and the leaders who built them were not luckier than the comparisons, but they did get a higher Return on Luck. This book is classic Collins: contrarian, data driven, and uplifting. He and Hansen show convincingly that, even in a chaotic and uncertain world, greatness happens by choice, not by chance.
Recommend this book
Add your recommendation
Only registered users can recommend books. Please use the buttons below to either create a new account, or sign-in to an existing account.
Jim Collins ... is the most influential management thinker alive - Fortune
For this guru, no question is too big - New York Times
A sensible, well-timed and precisely targeted message for companies shaken by macroeconomic crises - Financial Times
Jim Collins has built a reputation as something of a myth buster ... This book is recommended - Financial World
“Luck is not a strategy” the authors conclude. What determines any organization’s success is how it prepares for both good and bad luck. They call this getting a “positive return” on luck and, if Good to Great’s four million-plus sales are anything to go by, this idea will be embedded in corporate speak before you know it - Management Today
The fascinating detail of the book is its attempt to engage with the role of luck in the success of an enterprise and its finding that they become great by choice rather than chance - Significance magazine
If you want to understand what it takes to run a great company in any circumstances and you admire brilliant analysis and a clear, evocative writing style, then Great By Choice is worth five stars out of five - People Management
The findings are quite staggering. Many of the assumptions we have made about managing in these challenging times are questioned and often found wanting … The book really does provide a new prospective on leadership - Quality World magazine
Jim Collins is author or coauthor of six books that have sold more than 10 million copies worldwide, including the bestsellers Good to Great, Built to Last, and How the Mighty Fall. Jim began his research and teaching career on the faculty at Stanford Graduate School of Business, where he received the Distinguished Teaching Award in 1992. He now operates a management laboratory in Boulder, Colorado, where he conducts research, teaches, and consults with executives from the corporate and social sectors.
Morten T. Hansen is a management professor at the University of California, Berkeley (School of Information), and at INSEAD. Formerly a professor at Harvard Business School, Morten holds a PhD from Stanford Graduate School of Business, where he was a Fulbright scholar. He is the author of Collaboration and the winner of the Administrative Science Quarterly Award for exceptional contributions to the field of organization studies. Previously a manager with the Boston Consulting Group, Morten consults and gives talks for companies worldwide.