Businesses, whether big or small, strive off of both managers and leaders. To reach success,…
Fitz-enz, J. (1997). The 8 Practices of Exceptional Companies : How Great Organizations Make the Most of Their Human Assets. New York: AMACOM.…
Adversity breeds creativity, and this pending financial crisis led to a series of events that eventually turned this company around. From the financial perspective, the new leadership established quantifiable and achievable goals for this company. The first of which was to increase revenue at a faster rate than the market increased. Next, was to turn 30% of their revenue into operational profit. Lastly, they committed to doubling their earnings per share. All of these goals were ambitiously to be accomplished within 3 years, all the while improving on their customer relationships in a way that influenced their bottom line.…
As evident from Spencer’s case, this leadership model empowers business leaders to not only inspire their employees but also guide the company towards its vision and goals. According to Fikru (2014) for instance, being close to junior employees has made Spencer a good communicator who understands the business from different perspectives. Putting trust in people creates value for them and they become more free and willing to contribute, in their own small capacities towards realization of the company’s objectives (Longenecker, 2014). Apparently, meeting corporate goals greatly depends on how well a leader tells his juniors where they are going, why they are going and how they are going to get there, a skill that Spencer has perfected over…
Leaders need to acquire skills that will keep them one step ahead of the competition. These leaders must be successful at taking on the rapidly changing climate of business and navigate an organization through the upcoming change ( Gregory, 2011).…
Jim Collins is a student and teacher of enduring great companies -- how they grow, how they…
Their behavior is modeled, they produce by example. Leaders “do” or have done what they expect of the team member; 4-people development level. Leaders recognize that their team members are the most appreciable asset in the organization, hence, recruitment is the 1st point of developing the right team. Leaders know exactly what characteristics and skills are needed in a person that will be the right “fit” for the success of the organization; and 5-The Pinnacle level, respect. People follow this leader because of “who” they are and what they have accomplished (n.p.). Without a doubt it can be said of S. Truett Cathy that he reached the pinnacle level of leadership. Maintaining integrity of character regardless of public pressure or potential profits, modeling the culture he desired to imbibe into his organization, recognizing and rewarding the talent of his employees and serving his community and others through philanthropy, honoring God and His principles for life, in all his endeavors, leaving a legacy that lives…
“Greatness is not a function of circumstance. Greatness, it turns out, is largely a matter of conscious choice, and discipline.” by Jim Collins. Good To Great and the Social Sectors by Jim Collins covers how leaders can meet goals efficiently with their desired group or team. This monograph dives into the deeper details and qualities of how businesses went from average to amazing with long lasting capabilities. Any business or group can deliver superior performance, achieve lasting endurance, and make a distinctive impact to the world no matter what the size (Collins , 8).…
“How timely! How needed it is for one of the finest human beings, industrial leaders, and philanthropists on the planet to compellingly drill down on timeless, universal values for business and life. This book edifies, inspires, and motivates all of us to model these common sensical lessons for our organizations, all our relationships, and especially our posterity—for what is common sense is obviously not common practice. Primary greatness is character and contribution. Secondary greatness is how most people define success—wealth, fame, position, etc. Few have both. Jon’s one of them.”…
Ken’s small stint with large corporate America working for International Harvester in a research lab learned some very valuable bits of information that shaped his course of direction and development as future Fortune 500 company executive. Al Ellis his boss in the lab taught him some valuable lessons in that big business “extracts a measure of your individuality” and your hard work and skill you bring to the job would never be enough. Ken’s humble beginnings and lessons from his father instilled in him that team work and the individual was at the core of a successful company. Ken went on to prove his gut instincts by keeping things manageable even while you growing as a company.…
Tulsa, Oklahoma has been named the oil capital for the nation and the world for quite awhile and is a perfect place to study the energy industry. The University of Tulsa College of Business established The TU Energy Management program in September 2006 and started accepting students in the fall of 2007. The first graduating class to obtain the Energy Management major was comprised of only two students in December 2008 and May 2009. The program today is able to maintain disciplined and competitive students by having an application process but more importantly limiting up to thirty students per academic year. The TU Energy Management Program can easily be applied as a “Hedgehog Concept”. The “hedgehog concept” refers to a parable of a hedgehog and a fox, where the fox knows many things, but the hedgehog knows one big thing. “Hedgehogs” by and large built the good to great companies, which means that they were able to focus on one big important thing that made their companies great. Energy management is excelling by being able to maintain the main ideals set from the beginning. Also, the “flywheel and doom loop” concepts can be related to both the good to great companies but more importantly the energy management program. These two concepts can represent positive and negative momentum. The “flywheel” concept is when the program has everything in place, lots of hard work slowly but steadily forced the companies going faster and faster, with a lot of momentum. And the “doom loop” concept is when times have changed and a hard decision is needed to be made to keep the program going in a forward direction. It is always important to know where the program has been and the direction the program is heading to keep the success going.…
Beginning with Level 5 Leaders, Collins explains how a good company begins from the top-down. In order for a good company to succeed, there needs to be driven people at the top who are not only smart (though, they don’t have to be the smartest person in the room), but also have a clear vision and appreciation for the business. He describes how many of these level 5 leaders tend to have a “look at the window, look at the mirror vision.” Whenever they succeed, they never give themselves credit for the good things, these leaders always “look out the window” and credit luck, fellow colleagues, and employees. Now on the opposite side of the spectrum – when the company was doing badly – they would always “look at the mirror” and blame themselves for the success.…
Collins JC, Porras JI. Built to last: successful habits of visionary companies. New York: Harper Business, 1994.…
“Good to Great” is an exploration into the key factors that have transformed good companies into great companies (Collins, 2001). The book works from empirical data to build a fact based theory while urging the reader to remain impartial and to draw his/her conclusion based on the evidence presented. It identifies the key characteristics unique to 11 companies (Abbott, Circuit City, Fannie Mae, Gillette, Kimberly-Clark, Kroger, Nucor, Philip Morris, Pitney-Bowes, Walgreens, and Wells Fargo) that have transitioned from good to great and sustained greatness for at least 15 years. Collins has broken down the findings of his team into a multi-phased concept that details the entire…
Many of the greatest leaders have had to overcome many challenges in life. Nothing in life comes easy, and to become a great leader requires time, patience, and persistence for many that were not born leaders. Leaders are required to guide others into great accomplishments. If someone isn’t able to lead others into great places and achieve great accomplishments, they’ve failed their followers. Leaders are not quitters and at the end of the day, the goal will be accomplished.…