Good To Great Chapter 1 Summary

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Good to Great perfectly describes how companies can transition from being average to becoming substantial companies. Jim Collins also explains how companies can be unsuccessful at making the transition. In Chapter 8, there were two concepts that I found interesting which represent both positive and negative momentum. A flywheel is a heavy wheel that requires a lot of energy to set in motion. This requires consistent, durable work instead of trying to quicken the process. Successful companies transformations were also like this. With everything in place, hard work slowly but surely helped get the companies growing faster. Once it’s in motion, all of that energy put into the transformation it helps to continue to keep it moving in the right direction. The doom loop was the other concept discussed in Chapter 8. This is the circle that companies that aren’t successful fall into. These unsuccessful companies rush in one direction, then another, hoping that they will create a sudden break that will help the company become successful. Some companies attempt to do so through acquisitions. Other companies will bring in a new leader that decides to completely change the direction in a direction that is inappropriate with the…show more content…
This refers to a person that is very humble, also has a lot of drive and desires to be successful. In this case, success is defined by something great that will outlast their time as the leader of the company. These leaders are committed to doing whatever it takes to bring their company to the top. They do not take all the credit for the success of the company. Level 5 leaders give credit to others. Level 5 leaders also attribute most of their success to good luck, rather than personal greatness. I agree with this completely and also find it to be incredibly important. If you have a leader that is not level 5, a company will not be as

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