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Good to Great Article by Jim Collins October 2001

Good to Great Article by Jim Collins October 2001. Presenters: Samantha Bell, Brodie Pattenden, JJ Machalski, Tea Taing, Kristine Widdifield. Agenda. How change doesn’t happen How change does happen Disciplined people Disciplined thought Disciplined action. How change doesn't happen.

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Good to Great Article by Jim Collins October 2001

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  1. Good to GreatArticle by Jim CollinsOctober 2001 Presenters: Samantha Bell, Brodie Pattenden, JJ Machalski, Tea Taing, Kristine Widdifield

  2. Agenda • How change doesn’t happen • How change does happen • Disciplined people • Disciplined thought • Disciplined action

  3. How change doesn't happen The Chicken and the Egg

  4. How change doesn't happen • No ‘miracle moment’ • Chicken in the egg was: • Evolving • Growing • Developing • Changing

  5. Walgreens • Average company for over 40 years • 1975 it began to climb, and climb and climb • Beat the general stock market by 15 times • How do we pinpoint Walgreens’ ‘good-to-great’ transformation?

  6. How does change happen? The Flywheel Effect

  7. How does change happen? • Right now, your flywheel is at a standstill • Put your shoulder into it…. And push! • Eventually get some forward movement….

  8. How does change happen? • No longer pushing alone • The faster you go, the more people you have joining you

  9. How does change happen? • Momentum starts working in your favor • Aren’t pushing any harder, but wheel keeps accelerating • That’s how companies make the transition from good to great

  10. How does change happen? • What happens when companies don’t commit to the quiet discipline of slow, progressive change? • They fall into….. The DOOM LOOP!

  11. How does change happen? • Companies that fall into the Doom Loop want change over night • They bring in a new leader, who takes them in a new direction • See the pattern?

  12. Walter-Lambert Co. • 1979 – Started as consumer products • 1980 – Healthcare • 1981 – Return to consumer products • 1987 – Global pharmaceuticals • 1990’s – Return to consumer products • 2000 – Swallowed by Pfizer

  13. How does change happen? • Real people want to contribute to produce real results • Feel the magic of momentum • That’s how change really happens….

  14. Disciplined People Filling the Bus

  15. Disciplined People • Mediocre people equal mediocre results • If you have the wrong people, nothing else matters

  16. Fannie Mae • 14 of 26 executives “got off the bus” before good to great changes occurred, no questions asked

  17. Disciplined Thought Fox and the Hedgehog

  18. Disciplined Thought • A Greek Parable explains that • Foxes know many small things • Hedgehogs know one big thing

  19. Disciplined Thought • All good to great leaders are hedgehogs • But why? • They ask three piercing questions

  20. Disciplined Thought • What can we be the best in the world at? • What is the economic denominator that drives cashflow? • What are our core people passionate about?

  21. Wells Fargo • Initially in global bank, was mediocre • Switched company philosophy and industry • New mantra and drive for employees • Led to success

  22. Disciplined Action The Stop Doing List

  23. Disciplined Action • Good to Great leaders distinguish themselves • Decide what not to do • If it doesn’t fit tightly within your Hedgehog Concept, don’t do it

  24. Kimberly-Clark • Started in the paper mill industry • Decided to change focus • The consumer business was best for the company

  25. Disciplined Action • One magazine wrote • “Kimberly-Clark making the switch was a dumb idea” • 21 years later that same magazine wrote “as it turns out it was a smart one”

  26. Conclusion • The Chicken and the Egg • The Flywheel Effect • Disciplined People • Filling the Bus • Disciplined Thought • Fox and the Hedgehog • Disciplined Action • The “Stop Doing” list

  27. Thanks for listening! QUESTIONS???

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