What Defines Greatness – Jim Collins

Jim Collins was our Keynote speaker at our January Chairworld convention at the Grand Hyatt in San Deigo. Collins has written 5 books and on that day in January provided 500 plus chairs from around the world with a view to his 12 questions on greatness. Here’s his set up…

What Defines “Great”

Before jumping into the Twelve Questions, let me first address the question: what is a great enterprise, be it a great company or a great social sector enterprise? Not how you build one, but what is a great organization—what are the criteria of greatness? There are three tests: Superior Results, Distinctive Impact, and Lasting Endurance.

  1. Superior Results

In business, performance is defined by financial results—return on invested capital—and achievement of corporate purpose. In the social sectors, performance is defined by results and efficiency in delivering on the social mission. But whether business or social, you must achieve top-flight results. To use an analogy, if you are a sports team, you must win championships; if you don’t find a way to win at your chosen game, you cannot be considered truly great.

  1. Distinctive Impact

A truly great enterprise makes such a unique contribution to the communities it touches, and does its work with such unadulterated excellence that, if it were to disappear, it would leave a gaping hole that could not be easily filled by any other institution on the planet. If your organization went away, who would miss it, and why? This does not require being big; think of a small but fabulous local restaurant that would be terribly missed if it disappeared. Big does not equal great, and great does not equal big.

  1. Lasting Endurance

A truly great organization prospers over a long period of time, beyond any great idea, market opportunity, technology cycle, or well-funded program. When clobbered by setbacks, it finds a way to bounce back stronger than before. A great enterprise transcends dependence on any single extraordinary leader; if your organization cannot be great without you, then it is not yet a truly great organization.

If you want the 12 questions, send me a text or email.

Ed

(Email – ed.stillman@vistagechair.com or Text – 512.422.6232)

Published by edstillman

I grew up in Carlsbad, north San Diego County, lost my dad as a teenager, went into the USAF for four years and hired on with 3M in 1969. Received my AA from Santa Barbara City College, BA and Masters from Redlands University and after 33 plus years, I retired from 3M in 2002. As I look back on my life, I have been creating myself and developing my skill sets to be a business coach and a Vistage Chair. I am president of SEOT, a "personal improvement" consulting firm spending most of my time working with Central Texas executives running small to medium size for-profit companies who are focusing on improving their profitability greater than their competition. My area of interest is assisting senior executives in creating a better balance between business commitments and personal relationships. I also facilatate three leadership labs each consisting of a dozen owners, presidents and CEOs. We meet monthly both in a group setting as well as in a 1-to-1 coaching session. Our focus is to sharpen each others' skills in becoming better leaders, making better decisions and taking ourselves and companies to that next level. Who are we? My members are experienced top executives who recognize that they don’t have all the answers and who actively seek the company of successful peers—both to give and receive insights and ideas. My members mine the 200 plus years of chief executive experience that comes together in our monthly meetings and members are eager to offer their own experience and insights in the process. As a group, we spend our time exploring topics members can't discuss anywhere else. My members have many other places where they can engage in idle, "cocktail party" chatter. Our mission is to provide the setting for discussing the "undiscussable." Where or who can you go to for confidential, honest feedback to assist you in minimizing your personal "Worry List"?