Who is the author of 'Great by Choice'?

The authors of 'Great by Choice' are Jim Collins, Morten T. Hansen.

What are the main themes in 'Great by Choice'?

The main themes in 'Great by Choice' include Corporate Strategy, Business and Economics, Leadership, Leadership Theories.

What genre is 'Great by Choice'?

'Great by Choice' is categorized as Business and Economics, Leadership.

What is the main premise of 'Great by Choice'?

The main premise of 'Great by Choice' is to explore what differentiates successful companies from their less successful counterparts, especially in unpredictable and chaotic environments. Jim Collins and Morten T. Hansen conduct extensive research to unveil the behaviors and practices of companies that thrive amid uncertainty, focusing on key principles such as disciplined thought, empirical creativity, and productive paranoia. The book emphasizes the idea that success is not just a product of luck, but rather a result of strategic choices and consistent execution.

Who are the authors of 'Great by Choice'?

The authors of 'Great by Choice' are Jim Collins and Morten T. Hansen.

What key themes are explored in the book?

In 'Great by Choice', Jim Collins and Morten T. Hansen explore several key themes: Discipline and Creativity: The authors emphasize the importance of disciplined action coupled with creative thinking in achieving lasting success. They argue that successful companies thrive not just by being innovative but by having a disciplined approach to their operations. Empirical Analysis: The book advocates for data-driven decision making. Collins and Hansen stress the importance of making choices based on empirical evidence rather than intuition or anecdote. Leadership: The theme of leadership is central in the book, with discussions on the characteristics that distinguish effective leaders in turbulent environments. The authors introduce the concept of '20 Mile March' as a strategy for consistent performance in the face of unpredictability. Resilience: The book highlights the ability of organizations to persevere and adapt to changing circumstances, a crucial factor in achieving long-term success. Fanatic Discipline: This theme focuses on the rigorous adherence to performance standards and strategic priorities, showcasing how this discipline helps companies navigate through chaos. Luck vs. Performance: Collins and Hansen discuss the roles of luck and randomness in business outcomes, challenging the notion that successful companies simply get lucky.

How does the book define what it means to be a great company?

In 'Great by Choice', Jim Collins and Morten T. Hansen define a great company as one that displays exceptional long-term performance, particularly in uncertain and turbulent environments. Great companies are characterized by their ability to achieve superior results when compared to their industry peers, often using disciplined processes, innovative practices, and a commitment to core values. They emphasize empirical testing and evidence-based decision-making while demonstrating a blend of fanatic discipline, productive paranoia, and a level of creativity that allows them to thrive even in chaos.

What are some examples of companies discussed in 'Great by Choice'?

In 'Great by Choice,' Jim Collins and Morten T. Hansen discuss several companies as examples of success in uncertain environments. Some of the notable companies mentioned are: Southwest Airlines - Recognized for its disciplined approach and innovative business model in the airline industry. Intel - Highlighted for its strategic decision-making and adaptability in the tech sector. Walmart - Examined for its operational efficiency and ability to thrive in a competitive market. Microsoft - Discussed for its growth and management strategies during periods of rapid change in technology. The Home Depot - Analyzed for its entrepreneurial spirit and effective management practices. These companies exemplify the principles outlined in the book regarding thriving amid chaos and uncertainty.

Great by Choice Book Summary

In 'Great by Choice', Jim Collins and Morten T. Hansen explore what separates the truly exceptional companies from the mediocre ones amidst chaos and uncertainty. Through rigorous research and compelling case studies, they unveil the principles of success that allow some organizations to thrive in volatile environments. Readers will discover the importance of discipline, creativity, and a unique approach to risk-taking that defines high-performing enterprises. This book challenges conventional wisdom and offers a roadmap for leaders looking to achieve greatness against all odds. Prepare to be inspired as you uncover the secrets to enduring success!

By Jim Collins, Morten T. Hansen

Published: 2011

"The signature of mediocrity is not an unwillingness to change; the signature of mediocrity is inconsistency."

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 Great by 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 chance.

Jim Collins is an acclaimed author, lecturer, and business consultant known for his insights on company sustainability and growth. He gained widespread recognition with his bestselling books, including "Good to Great" and "Built to Last," which explore the principles that drive organizations to achieve lasting success. Collins combines rigorous research with engaging storytelling, making complex business concepts accessible to a broad audience. He is also the co-founder of a management research laboratory, where he helps leaders apply his findings to real-world challenges. Through his work, Collins continues to inspire and educate leaders across industries, emphasizing the importance of vision, discipline, and innovation.

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