It’s the opposite of the Flywheel Effect; it’s the Doom Loop.Companies that fall into the Doom Loop genuinely want to effect change — but they lack the quiet discipline that produces the Flywheel Effect.

Those that do get more funding. Looking back on our research, what’s most striking to me about our findings is the absence of a magic moment in any of the good-to-great companies — or in our own journey to understanding.

The key to going from Good to Great is to: get the right people, engaging in critical thinking, then taking disciplined action aligned with the Hedgehog Concept.Good to Great companies think about technology in a different way.

His answer: “Sometime between 1971 and 1980.” (Well, that certainly narrows it down! When the team asked that question about the bank’s economic engine, Wells Fargo’s leaders confronted a second brutal fact: In a deregulated world, commercial banking would be a commodity.

We are then achieving some visible results. 16 min read ⌚ MicroSummary: One of the best management books to ever see the light of day, “Good to Great” by Jim Collins tries to answer the question why some companies make the leap mentioned in the title, while others fail.
The good-to-great companies averaged cumulative stock returns 6.9 times the general market in the 15 years after their transition points.

They will invest in new technology only if it serves their Hedgehog Concept.The behaviors of Good to Great companies around technology include:They ask if a new technology fits with their Hedgehog Concept.

It spins faster and faster, with its own weight propelling it. )Walgreens’s experience is the norm for good-to-great performers. The transition from good to great had to be company specific, not an industrywide event.3. But then they work on it intermittently, giving only intermittent big pushes. Wrong.

This gives you a better chance of making the right “what” decision.

I want you to realize that nearly all operating prescriptions for creating large-scale corporate change are nothing but myths.The Myth of the Change Program: This approach comes with the launch event, the tag line, and the cascading activities.The Myth of the Burning Platform: This one says that change starts only when there’s a crisis that persuades “unmotivated” employees to accept the need for change.The Myth of Stock Options: Stock options, high salaries, and bonuses are incentives that grease the wheels of change.The Myth of Fear-Driven Change: The fear of being left behind, the fear of watching others win, the fear of presiding over monumental failure — all are drivers of change, we’re told.The Myth of Acquisitions: You can buy your way to growth, so it figures that you can buy your way to greatness.The Myth of Technology-Driven Change: The breakthrough that you’re looking for can be achieved by using technology to leapfrog the competition.The Myth of Revolution: Big change has to be wrenching, extreme, painful — one big, discontinuous, shattering break.Wrong. To get it to spin you need to start pushing it.
Day after day, it sits there. The first two circles are pretty self-explanatory, but measuring a police department’s vision of greatness can be difficult because it is not as simple as measuring profits in a business. On one hand, they understood that the best path to greatness lay in the consumer business, where the company had demonstrated a best-in-the-world capability in its building of the Kleenex brand.

If people get on your bus because of where they think it’s going, you’ll be in trouble when you get 10 miles down the road and discover that you need to change direction because the world has changed. And the real kicker: The comparison companies in our study — firms with virtually identical opportunities during the pivotal years — did buy into the change myths described above — and failed to make the leap from good to great.Picture an egg.

Does the community trust that the department is there to protect them and act in their best interest with the power and authority that has been granted upon them? Whatever the year of transition, the company had to be a significant, ongoing, stand-alone company.6. "Collins reaffirmed that "The books never promised that these companies would always be great, just that they were once great."

To find those companies 1,435 companies were examined over a 40 year period.

After two or three days of sustained effort, you get the flywheel to complete one entire turn. Granted, it was a big step — but it was hardly the radical transformation that it looked like from the outside.It’s a silly analogy — but then our conventional way of looking at change is no less silly. In an area where money can be created. They neither rant nor rave about a crisis — and they don’t manufacture one where none exists.

With each turn of the Doom Loop, the company spiraled further downward, until it was swallowed by Pfizer in 2000.In contrast, why does the Flywheel Effect work?

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