Good to Great by Jim Collins - Part 2 (Book Summary)

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For years, a question has been on the mind of the book’s author Jim Collins which is: What are the most important factors that enable good, medium and even bad companies to turn into great companies in the long run? What are the things that these companies do in order to be different from their competitors in the market? In order to be able to answer this question, Jim decided to form a scientific research team to study its various reasons. Using strict criteria, Jim and his team selected a group of elite companies that turned from good to great and that jumped to great results and maintained them for a long time, as the research stated that a company is considered a great company if it can achieve cumulative returns of shares that beat the general stock market at an average of three times in fifteen years, and this is considered better than the results achieved by international famous companies such as Coca-Cola, Intel and General Electric. After more than 15,000 hours of work, the team managed to reach the model that explains the most important factors that transform companies into great companies, as the model shows that the idea of transformation is a process of growth followed by a boom, and it is divided into three main stages which are: disciplined people, disciplined thought, and disciplined implementation, and in these stages, the work team created 6 basic concepts that enable companies to transform from good to great, which are: the concept of level 5 leadership, "Who first ... then Why", "face the hard facts", "the Hedgehog concept”, “Discipline Culture,” “Technology Accelerators.”

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