Good to Great: Why Some Companies Make the Leap... and Others Don't
by Jim Collins
from Collins Business
Five years ago, Jim Collins asked the question, "Can a good company become a great company and if so, how?" In Good to Great Collins, the author of Built to Last, concludes that it is possible, but finds there are no silver bullets. Collins and his team of researchers began their quest by sorting through a list of 1,435 companies, looking for those that made substantial improvements in their performance over time. They finally settled on 11--including Fannie Mae, Gillette, Walgreens, and Wells Fargo--and discovered common traits that challenged many of the conventional notions of corporate success. Making the transition from good to great doesn't require a high-profile CEO, the latest technology, innovative change management, or even a fine-tuned business strategy. At the heart of those rare and truly great companies was a corporate culture that rigorously found and promoted disciplined people to think and act in a disciplined manner. Peppered with dozens of stories and examples from the great and not so great, the book offers a well-reasoned road map to excellence that any organization would do well to consider. Like Built to Last, Good to Great is one of those books that managers and CEOs will be reading and rereading for years to come. --Harry C. Edwards
The Challenge
Built to Last, the defining management study of the nineties, showed how great companies triumph over time and how long-term sustained performance can be engineered into the DNA of an enterprise from the verybeginning.
But what about the company that is not born with great DNA? How can good companies, mediocre companies, even bad companies achieve enduring greatness?
The Study
For years, this question preyed on the mind of Jim Collins. Are there companies that defy gravity and convert long-term mediocrity or worse into long-term superiority? And if so, what are the universal distinguishing characteristics that cause a company to go from good to great?
The Standards
Using tough benchmarks, Collins and his research team identified a set of elite companies that made the leap to great results and sustained those results for at least fifteen years. How great? After the leap, the good-to-great companies generated cumulative stock returns that beat the general stock market by an average of seven times in fifteen years, better than twice the results delivered by a composite index of the world's greatest companies, including Coca-Cola, Intel, General Electric, and Merck.
The Comparisons
The research team contrasted the good-to-great companies with a carefully selected set of comparison companies that failed to make the leap from good to great. What was different? Why did one set of companies become truly great performers while the other set remained only good?
Over five years, the team analyzed the histories of all twenty-eight companies in the study. After sifting through mountains of data and thousands of pages of interviews, Collins and his crew discovered the key determinants of greatness -- why some companies make the leap and others don't.
The Findings
The findings of the Good to Great study will surprise many readers and shed light on virtually every area of management strategy and practice. The findings include:
- Level 5 Leaders: The research team was shocked to discover the type of leadership required to achieve greatness.
- The Hedgehog Concept (Simplicity within the Three Circles): To go from good to great requires transcending the curse of competence.
- A Culture of Discipline: When you combine a culture of discipline with an ethic of entrepreneurship, you get the magical alchemy of great results. Technology Accelerators: Good-to-great companies think differently about the role of technology.
- The Flywheel and the Doom Loop: Those who launch radical change programs and wrenching restructurings will almost certainly fail to make the leap.
“Some of the key concepts discerned in the study,” comments Jim Collins, "fly in the face of our modern business culture and will, quite frankly, upset some people.”
Perhaps, but who can afford to ignore these findings?
StrengthsFinder 2.0: A New and Upgraded Edition of the Online Test from Gallup's Now, Discover Your Strengths
by Tom Rath
from Gallup Press
DO YOU HAVE THE OPPORTUNITY TO DO WHAT YOU DO BEST EVERY DAY?
Chances are, you don't. All too often, our natural talents go untapped. From the cradle to the cubicle, we devote more time to fixing our shortcomings than to developing our strengths.
To help people uncover their talents, Gallup introduced the first version of its online assessment, StrengthsFinder, in the 2001 management book Now, Discover Your Strengths. The book spent more than five years on the bestseller lists and ignited a global conversation, while StrengthsFinder helped millions to discover their top five talents.
In its latest national bestseller, StrengthsFinder 2.0, Gallup unveils the new and improved version of its popular assessment, language of 34 themes, and much more (see below for details). While you can read this book in one sitting, you'll use it as a reference for decades.
Loaded with hundreds of strategies for applying your strengths, this new book and accompanying website will change the way you look at yourself -- and the world around you -- forever.
AVAILABLE EXCLUSIVELY IN THE NEW & UPGRADED EDITION OF STRENGTHSFINDER 2.0
(using the unique access code included with each book)
* A new and upgraded edition of the StrengthsFinder assessment
* A personalized Strengths Discovery and Action-Planning Guide for applying your strengths in the next week, month, and year
* A more customized version of your top five theme report
* 50 Ideas for Action (10 strategies for building on each of your top five themes)
* The more user-friendly StrengthsFinder 2.0 companion website, with a strengths community area, library of downloadable discussion guides and activities, a strengths screensaver, and a program for creating display cards of your top five themes
When Markets Collide: Investment Strategies for the Age of Global Economic Change
by Mohamed El-Erian
from McGraw-Hill
"El-Erian is a doer and a thinker and someone who understands the risks of rare events. [Never before, have] I seen such a combination. Read this book."
—Nassim Nicholas Taleb, author The Black Swan
When Markets Collide is a timely alert to the fundamental changes taking place in today's global economic and financial systems--and a call to action for investors who may fall victim to misinterpreting important signals. While some have tended to view asset class mispricings as mere “noise,” this compelling book shows why they are important signals of opportunities and risks that will shape the market for years to come. One of today's most respected names in finance, Mohamed El-Erian puts recent events in their proper context, giving you the tools that can help you interpret the markets, benefit from global economic change, and navigate the risks.
The world economy is in the midst of a series of hand-offs. Global growth is now being heavily influenced by nations that previously had little or no systemic influence. Former debtor nations are building unforeseen wealth and, thus, enjoying unprecedented influence and facing unusual challenges. And new derivative products have changed the behavior of many market segments and players. Yet, despite all these changes, the system's infrastructure is yet to be upgraded to reflect the realities of today's and tomorrow's world. El-Erian investigates the underlying drivers of global change to shed light on how you should:
- Think about the new opportunities and risks
- Construct an appropriately diversified and internationalized portfolio
- Protect your portfolio against new sources of systemic risk
- Best think about the impact of central banks and financial policies around the world
Offering up predictions of future developments, El-Erian directs his focus to help you capitalize on the new financial landscape, while limiting exposure to new risk configurations.
When Markets Collide is a unique collection of books for investors and policy makers around the world. In addition to providing a thorough analysis and clear perspective of recent events, it lays down a detailed map for navigating your way through an otherwise perplexing new economic landscape.
Women & Money: Owning the Power to Control Your Destiny
by Suze Orman
from Spiegel & Grau
Money maven Suze Orman's latest book, Women & Money addresses the complicated (and often dysfunctional) relationship women have with personal finance. Orman's direct, non-condescending style is perfect for this subject matter--she begins with the premise that "Women can invest, save, and handle debt as well and skillfully as any man" and then tackles the important question--"So why don't they?" Designed to educate and inspire, Women & Money also offers a "Save Yourself Plan," a five-month program that "delivers genuine long-term financial security." Want to know more? Watch a video message from Suze below, and take a gander at the first chapter of Women & Money--you'll be "controlling your destiny" in no time. --Daphne Durham
An Exclusive Video Message from Suze Orman
 Watch the video |
Read the First Chapter of Women & Money
For Women OnlyI never thought I'd write a book about money just for women. I never thought it was necessary. So then why am I doing just that in my eighth book? And why now? Let me explain. All my previous books were written with the belief that gender is not a factor on any level in mastering the nuts and bolts of smart financial management. Women can invest, save, and handle debt just as well and skillfully as any man. I still believe that--why would anyone think differently? So imagine my surprise when I learned that some of the people closest to me in my life were in the dark about their own finances. Clueless. Or, in some cases, willfully resisting doing what they knew needed to be done. I'm talking about smart, competent, accomplished women who present a face to the world that is pure confidence and capability. Do you mean to tell me that I, Suze Orman, who make my living solving the financial problems of total strangers, couldn't spot the trouble brewing so close to home? I don't think I'm blind; I just think that these women became very, very good at hiding their troubles from me.Why not? They had years of practice hiding them from themselves.
Read more from Chapter 1...
Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not!
by Robert T. Kiyosaki
from Business Plus
Personal-finance author and lecturer Robert Kiyosaki developed his unique economic perspective through exposure to a pair of disparate influences: his own highly educated but fiscally unstable father, and the multimillionaire eighth-grade dropout father of his closest friend. The lifelong monetary problems experienced by his "poor dad" (whose weekly paychecks, while respectable, were never quite sufficient to meet family needs) pounded home the counterpoint communicated by his "rich dad" (that "the poor and the middle class work for money," but "the rich have money work for them"). Taking that message to heart, Kiyosaki was able to retire at 47. Rich Dad, Poor Dad, written with consultant and CPA Sharon L. Lechter, lays out his the philosophy behind his relationship with money. Although Kiyosaki can take a frustratingly long time to make his points, his book nonetheless compellingly advocates for the type of "financial literacy" that's never taught in schools. Based on the principle that income-generating assets always provide healthier bottom-line results than even the best of traditional jobs, it explains how those assets might be acquired so that the jobs can eventually be shed. --Howard Rothman
Personal-finance author and lecturer Robert Kiyosaki developed his unique economic perspective through exposure to a pair of disparate influences: his own highly educated but fiscally unstable father, and the multimillionaire eighth-grade dropout father of his closest friend. The lifelong monetary problems experienced by his "poor dad" (whose weekly paychecks, while respectable, were never quite sufficient to meet family needs) pounded home the counterpoint communicated by his "rich dad" (that "the poor and the middle class work for money," but "the rich have money work for them"). Taking that message to heart, Kiyosaki was able to retire at 47. Rich Dad, Poor Dad, written with consultant and CPA Sharon L. Lechter, lays out his the philosophy behind his relationship with money. Although Kiyosaki can take a frustratingly long time to make his points, his book nonetheless compellingly advocates for the type of "financial literacy" that's never taught in schools. Based on the principle that income-generating assets always provide healthier bottom-line results than even the best of traditional jobs, it explains how those assets might be acquired so that the jobs can eventually be shed. --Howard Rothman
A #1 New York Times bestseller, 'Rich Dad, Poor Dad' is a true story on the lessons about money that Robert Kiyosaki learned from his two "dads." One dad, a Ph.D. and superintendent of education, never had enough money at the end of the month and died broke. His other dad dropped out of school at age 13 and went on to become one of the wealthiest men in Hawaii. 'Rich Dad, Poor Dad' will . . .· Explode the myth that you need to earn a high income to become rich · Challenge the belief that your house is an asset · Show parents why they can't rely on the school system to teach their kids about money
· Define once and for all an asset and a liability · Teach you what to teach your kids about money for their future financial success. In 'Rich Dad, Poor Dad', Robert Kiyosaki explains how to make your money work hard for you instead of you working hard for money.
The Answer: Grow Any Business, Achieve Financial Freedom, and Live an Extraordinary Life
by John Assaraf
from Atria
A key team member behind The Secret and his business partner offer the specific tools and mental strategies to help readers leap ahead in any career or business venture and achieve major financial success.
In this visionary work, New York Times bestselling author John Assaraf and business guru Murray Smith reinvent the business book for the twenty-first century. Two of the most successful entrepreneurs in the world, they combine forces to bring their special insights and techniques together in a revolutionary guide for success in the modern business environment.
Assaraf and Smith know how to minimize risk and maximize success, and The Answer provides a framework for sharing their wisdom, experience, and skills with the millions of people who want to accomplish their own dreams in life. Using cutting-edge research into brain science and quantum physics, they show how readers can actually rewire their brains for success and create the kind of extraordinary lives they want. By teaching readers how to attract and use newly discovered "uncommon" senses to achieve business success, the authors demonstrate the beliefs, habits, thoughts, and actions that they have used to build eighteen multimillion-dollar companies.
Any reader who follows this step-by-step process to build his or her career will experience an enormous life transformation and reach an exceptional level of living.
The Black Swan: The Impact of the Highly Improbable
by Nassim Nicholas Taleb
from Random House
Bestselling author Nassim Nicholas Taleb continues his exploration of randomness in his fascinating new book, The Black Swan, in which he examines the influence of highly improbable and unpredictable events that have massive impact. Engaging and enlightening, The Black Swan is a book that may change the way you think about the world, a book that Chris Anderson calls, "a delightful romp through history, economics, and the frailties of human nature." See Anderson's entire guest review below.
Guest Reviewer: Chris Anderson
Chris Anderson is editor-in-chief of Wired magazine and the author of The Long Tail: Why the Future of Business Is Selling Less of More. Four hundred years ago, Francis Bacon warned that our minds are wired to deceive us. "Beware the fallacies into which undisciplined thinkers most easily fall--they are the real distorting prisms of human nature." Chief among them: "Assuming more order than exists in chaotic nature." Now consider the typical stock market report: "Today investors bid shares down out of concern over Iranian oil production." Sigh. We're still doing it.
Our brains are wired for narrative, not statistical uncertainty. And so we tell ourselves simple stories to explain complex thing we don't--and, most importantly, can't--know. The truth is that we have no idea why stock markets go up or down on any given day, and whatever reason we give is sure to be grossly simplified, if not flat out wrong.
Nassim Nicholas Taleb first made this argument in Fooled by Randomness, an engaging look at the history and reasons for our predilection for self-deception when it comes to statistics. Now, in The Black Swan: the Impact of the Highly Improbable, he focuses on that most dismal of sciences, predicting the future. Forecasting is not just at the heart of Wall Street, but it's something each of us does every time we make an insurance payment or strap on a seat belt.
The problem, Nassim explains, is that we place too much weight on the odds that past events will repeat (diligently trying to follow the path of the "millionaire next door," when unrepeatable chance is a better explanation). Instead, the really important events are rare and unpredictable. He calls them Black Swans, which is a reference to a 17th century philosophical thought experiment. In Europe all anyone had ever seen were white swans; indeed, "all swans are white" had long been used as the standard example of a scientific truth. So what was the chance of seeing a black one? Impossible to calculate, or at least they were until 1697, when explorers found Cygnus atratus in Australia.
Nassim argues that most of the really big events in our world are rare and unpredictable, and thus trying to extract generalizable stories to explain them may be emotionally satisfying, but it's practically useless. September 11th is one such example, and stock market crashes are another. Or, as he puts it, "History does not crawl, it jumps." Our assumptions grow out of the bell-curve predictability of what he calls "Mediocristan," while our world is really shaped by the wild powerlaw swings of "Extremistan."
In full disclosure, I'm a long admirer of Taleb's work and a few of my comments on drafts found their way into the book. I, too, look at the world through the powerlaw lens, and I too find that it reveals how many of our assumptions are wrong. But Taleb takes this to a new level with a delightful romp through history, economics, and the frailties of human nature. --Chris Anderson
A black swan is a highly improbable event with three principal characteristics: It is unpredictable; it carries a massive impact; and, after the fact, we concoct an explanation that makes it appear less random, and more predictable, than it was. The astonishing success of Google was a black swan; so was 9/11. For Nassim Nicholas Taleb, black swans underlie almost everything about our world, from the rise of religions to events in our own personal lives.
Why do we not acknowledge the phenomenon of black swans until after they occur? Part of the answer, according to Taleb, is that humans are hardwired to learn specifics when they should be focused on generalities. We concentrate on things we already know and time and time again fail to take into consideration what we don’t know. We are, therefore, unable to truly estimate opportunities, too vulnerable to the impulse to simplify, narrate, and categorize, and not open enough to rewarding those who can imagine the “impossible.”
For years, Taleb has studied how we fool ourselves into thinking we know more than we actually do. We restrict our thinking to the irrelevant and inconsequential, while large events continue to surprise us and shape our world. Now, in this revelatory book, Taleb explains everything we know about what we don’t know. He offers surprisingly simple tricks for dealing with black swans and benefiting from them.
Elegant, startling, and universal in its applications The Black Swan will change the way you look at the world. Taleb is a vastly entertaining writer, with wit, irreverence, and unusual stories to tell. He has a polymathic command of subjects ranging from cognitive science to business to probability theory. The Black Swan is a landmark book–itself a black swan.
The Five Dysfunctions of a Team: A Leadership Fable
by Patrick M. Lencioni
from Jossey-Bass
Once again using an astutely written fictional tale to unambiguously but painlessly deliver some hard truths about critical business procedures, Patrick Lencioni targets group behavior in the final entry of his trilogy of corporate fables. And like those preceding it, The Five Dysfunctions of a Team is an entertaining, quick read filled with useful information that will prove easy to digest and implement. This time, Lencioni weaves his lessons around the story of a troubled Silicon Valley firm and its unexpected choice for a new CEO: an old-school manager who had retired from a traditional manufacturing company two years earlier at age 55. Showing exactly how existing personnel failed to function as a unit, and precisely how the new boss worked to reestablish that essential conduct, the book's first part colorfully illustrates the ways that teamwork can elude even the most dedicated individuals--and be restored by an insightful leader. A second part offers details on Lencioni's "five dysfunctions" (absence of trust, fear of conflict, lack of commitment, avoidance of accountability, and inattention to results), along with a questionnaire for readers to use in evaluating their own teams and specifics to help them understand and overcome these common shortcomings. Like the author's previous books, The Five Temptations of a CEO and Obsessions of an Extraordinary Executive, this is highly recommended. --Howard Rothman
In The Five Dysfunctions of a Team Patrick Lencioni once again offers a leadership fable that is as enthralling and instructive as his first two best-selling books, The Five Temptations of a CEO and The Four Obsessions of an Extraordinary Executive. This time, he turns his keen intellect and storytelling power to the fascinating, complex world of teams.
Kathryn Petersen, Decision Tech's CEO, faces the ultimate leadership crisis: Uniting a team in such disarray that it threatens to bring down the entire company. Will she succeed? Will she be fired? Will the company fail? Lencioni's utterly gripping tale serves as a timeless reminder that leadership requires as much courage as it does insight.
Throughout the story, Lencioni reveals the five dysfunctions which go to the very heart of why teams even the best ones-often struggle. He outlines a powerful model and actionable steps that can be used to overcome these common hurdles and build a cohesive, effective team. Just as with his other books, Lencioni has written a compelling fable with a powerful yet deceptively simple message for all those who strive to be exceptional team leaders.
Blink: The Power of Thinking Without Thinking
by Malcolm Gladwell
from Back Bay Books
Blink is about the first two seconds of looking--the decisive glance that knows in an instant. Gladwell, the best-selling author of The Tipping Point, campaigns for snap judgments and mind reading with a gift for translating research into splendid storytelling. Building his case with scenes from a marriage, heart attack triage, speed dating, choking on the golf course, selling cars, and military maneuvers, he persuades readers to think small and focus on the meaning of "thin slices" of behavior. The key is to rely on our "adaptive unconscious"--a 24/7 mental valet--that provides us with instant and sophisticated information to warn of danger, read a stranger, or react to a new idea.
Gladwell includes caveats about leaping to conclusions: marketers can manipulate our first impressions, high arousal moments make us "mind blind," focusing on the wrong cue leaves us vulnerable to "the Warren Harding Effect" (i.e., voting for a handsome but hapless president). In a provocative chapter that exposes the "dark side of blink," he illuminates the failure of rapid cognition in the tragic stakeout and murder of Amadou Diallo in the Bronx. He underlines studies about autism, facial reading and cardio uptick to urge training that enhances high-stakes decision-making. In this brilliant, cage-rattling book, one can only wish for a thicker slice of Gladwell's ideas about what Blink Camp might look like. --Barbara Mackoff
Blink is about the first two seconds of looking--the decisive glance that knows in an instant. Gladwell, the best-selling author of The Tipping Point, campaigns for snap judgments and mind reading with a gift for translating research into splendid storytelling. Building his case with scenes from a marriage, heart attack triage, speed dating, choking on the golf course, selling cars, and military maneuvers, he persuades readers to think small and focus on the meaning of "thin slices" of behavior. The key is to rely on our "adaptive unconscious"--a 24/7 mental valet--that provides us with instant and sophisticated information to warn of danger, read a stranger, or react to a new idea. Gladwell includes caveats about leaping to conclusions: marketers can manipulate our first impressions, high arousal moments make us "mind blind," focusing on the wrong cue leaves us vulnerable to "the Warren Harding Effect" (i.e., voting for a handsome but hapless president). In a provocative chapter that exposes the "dark side of blink," he illuminates the failure of rapid cognition in the tragic stakeout and murder of Amadou Diallo in the Bronx. He underlines studies about autism, facial reading and cardio uptick to urge training that enhances high-stakes decision-making.In this brilliant, cage-rattling book, one can only wish for a thicker slice of Gladwell's ideas about what Blink Camp might look like.--Barbara Mackoff
A Whole New Mind: Why Right-Brainers Will Rule the Future
by Daniel H. Pink
from Riverhead Trade
The future belongs to a different kind of person with a different kind of mind: artists, inventors, storytellers-creative and holistic "right-brain" thinkers whose abilities mark the fault line between who gets ahead and who doesn't. Drawing on research from around the world, Pink outlines the six fundamentally human abilities that are absolute essentials for professional success and personal fulfillment-and reveals how to master them. A Whole New Mind takes readers to a daring new place, and a provocative and necessary new way of thinking about a future that's already here.
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