Good to Great: Why Some Companies Make the Leap and Others Don't, by Jim Collins: 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 very beginning. But what about the company that is not born with great DNA? How can good companies, mediocre companies, even bad companies achieve enduring greatness? 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? 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 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 of the Good to Great study will surprise many readers and shed light on virtually every area of management strategy and practice. Leadership, by Rudolph Giuliani: Writing in his familiar voice -- a New Yorker's bluntness, leavened by his passion for ideas -- Rudolph Giuliani demonstrates in Leadership how the leadership skills he practices can be employed successfully by anyone who has to run anything. After all, until the September 11 attacks on the World Trade Center pushed him into an unwanted role in history, Giuliani was only months away from leaving office with a reputation as one of the most effective mayors New York had ever seen. Having inherited a city ravaged by crime and crippled in its ability to serve its citizens, Giuliani shows how he found that every aspect of his career up to that point-from clerking for the formidable judge who demanded excellence (and rewarded it with a lifetime of loyalty) to busting organized crime during his years as a federal attorney-shaped his thinking about leadership and prepared him for the daunting challenges ahead. Giuliani's successes in turn strengthened his conviction about the core qualities required to be an effective leader, no matter what the size of the organization, be it an international corporation or a baseball team. In detailing his principles of leadership, Giuliani tells captivating stories that are personal as well as prescriptive: how he learned the importance of staying calm in the face of attack from his father's boxing lessons-as well as the need to stand up to bullies; how a love of reading was early instilled in him by his mother and grew into a determination to master new subjects, and not rely on only the word of experts; how, in his recent fight with prostate cancer, learning to make decisions at the right time and with the right information reflected decision-making on a larger scale. Leadership, Giuliani writes, works both ways: it is a privilege, but it carries responsibilities-from imposing a structure suitable to an organization's purpose, to forming a team of people who bring out the best in each other, to taking the right, unexpected risks. A leader must develop strong beliefs, and be held accountable for the results-principles he illustrates with candor and courage throughout the pages of this important and timely book. He never knew that the qualities he describes would be put to the awful test of September 11, he says; but he never doubted that they would prevail. Who Says Elephants Can Dance? Inside IBM's Historic Turnaround, by Louis V. Gerstner: In 1990, IBM had its most profitable year ever. By 1993, the computer industry had changed so rapidly the company was on its way to losing $16 billion and IBM was on a watch list for extinction -- victimized by its own lumbering size, an insular corporate culture, and the PC era IBM had itself helped invent. Then Lou Gerstner was brought in to run IBM. Almost everyone watching the rapid demise of this American icon presumed Gerstner had joined IBM to preside over its continued dissolution into a confederation of autonomous business units. This strategy, well underway when he arrived, would have effectively eliminated the corporation that had invented many of the industry's most important technologies. Instead, Gerstner took hold of the company and demanded the managers work together to re-establish IBM's mission as a customer-focused provider of computing solutions. Moving ahead of his critics, Gerstner made the hold decision to keep the company together, slash prices on his core product to keep the company competitive, and almost defiantly announced, "The last thing IBM needs right now is a vision." Who Says Elephants Can't Dance? tells the story of IBM's competitive and cultural transformation. In his own words, Gerstner offers a blow-by-blow account of his arrival at the company and his campaign to rebuild the leadership team and give the workforce a renewed sense of purpose. In the process, Gerstner defined a strategy for the computing giant and remade the ossified culture bred by the company's own success. The first-hand story of an extraordinary turnaround, a unique case study in managing a crisis, and a thoughtful reflection on the computer industry and the principles of leadership, Who Says Elephants Can't Dance? sums up Lou Gerstner's historic business achievement. Taking readers deep into the world of IBM's CEO, Gerstner recounts the high-level meetings and explains the pressure-filled, no-turning-back decisions that had to be made. He also offers his hard-won conclusions about the essence of what makes a great company run. In the history of modern business, many companies have gone from being industry leaders to the verge of extinction. Through the heroic efforts of a new management team, some of those companies have even succeeded in resuscitating themselves and living on in the shadow of their former stature. But only one company has been at the pinnacle of an industry, fallen to near collapse, and then, beyond anyone's expectations, returned to set the agenda. That company is IBM. Lou Gerstener, Jr., served as chairman and chief executive officer of IBM from April 1993 to March 2002, when he retired as CEO. He remained chairman of the board through the end of 2002. Before joining IBM, Mr. Gerstner served for four years as chairman and CEO of RJR Nabisco, Inc. This was preceded by an eleven-year career at the American Express Company, where he was president of the parent company and chairman and CEO of its largest subsidiary. Prior to that, Mr. Gerstner was a director of the management consulting firm of McKinsey & Co., Inc. He received a bachelor's degree in engineering from Dartmouth College and an MBA from Harvard Business School. |
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