Jim Collins taught for many years at Stanford University and began research in 1992. From there, he has written numerous invaluable business books recognized by the NY Times and BusinessWeek as a best selling author. Jim is an excellent communicator and business leader. His latest book is Great by Choice and it is this book that inspired his talk at the Summit this year.
Great by Choice measures companies that grew 10 times faster than their competitors. Their main differences were outlined as fantastic discipline, productive paranoia, and empirical creativity.
Fanatical Discipline:
"It is important not to over stretch" Jim tells a great story at the turn of the century of the race to the North Pole. Its central tenet is keeping pace instead of over-extending.
"Southwest Airlines as been profitable for nearly 40 years, through everything."
"Manage yourself in good times so you can do well in the bad times. Its about consistent, consecutive performance."
Empirical Creativity:
"Comparisons company leaders don't do enough testing before they bet all of the new creativity"
"A marriage of creativity and discipline is what sets people apart"
"The challenge is to merge creativity and discipline. This is KEY."
Productive Paranoia:
"Understand the only mistakes you learn from are the ones you survive."
"High cash to assets ratio in the 10x companies was a consistent factor."
"It's all about what you do before your in trouble"
"The greatest danger is to be successful and NOT KNOW WHY!!"
"Greatness is not a matter of circumstance"
Great Organizations:
1) Have superior performance related to the mission.
2) Makes distinctive impact
3) Has Lasting Endurance
"Organizations are not great if they can not be great without you."
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