We learned that a former prisoner of war had more to teach us about what it takes to find a path to greatness than most books on corporate strategy.
JAMES C. COLLINSMediocrity results first and foremost from management failure, not technological failure.
More James C. Collins Quotes
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There is a sense of exhilaration that comes from facing head-on the hard truths and saying, “We will never give up. We will never capitulate. It might take a long time, but we will find a way to prevail.”
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Bad decisions made with good intentions, are still bad decisions.
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The best CEOs in our research display tremendous ambition for their company combined with the stoic will to do whatever it takes, no matter how brutal (within the bounds of the company’s core values), to make the company great.
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Those who build great companies understand that the ultimate throttle on growth for any great company is not markets, or technology, or competition, or products. It is one thing above all others: the ability to get and keep enough of the right people.
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Profit is like oxygen, food, water, and blood for the body; they are not the point of life, but without them, there is no life.
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In a world of constant change, the fundamentals are more important than ever.
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Genius of AND. Embrace both extremes on a number of dimensions at the same time. Instead of choosing a OR B, figure out how to have A AND B-purpose AND profit, continuity AND change, freedom AND responsibility, etc.
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An organization is not truly great, if it cannot be great without you.
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First figure out your partners, then figure out what ideas to pursue. The most important thing isn’t the market you target, the product you develop or the financing, but the founding team.
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We must reject the idea… Well-intentioned, but dead wrong… That the primary path to greatness in the social sectors is to become “more like a business.” Most businesses… Like most of anything else in life… Fall somewhere between mediocre and good.
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The purpose of bureaucracy is to compensate for incompetence and lack of discipline.
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The secret to a successful retirement is to find your retirement sweet spot. The sweet spot is where your passions, what you do best, and what people will pay you to do overlap.
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In a truly great company profits and cash flow become like blood and water to a healthy body: They are absolutely essential for life but they are not the very point of life
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It may seem odd to talk about something as soft and fuzzy as “passion” as an integral part of a strategic framework. But throughout the good-to-great companies, passion became a key part of the Hedgehog Concept.
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You absolutely must have the discipline not to hire until you find the right people.
JAMES C. COLLINS