Good to great
Level 5 leaders
Their ambition is first and foremost for the institution, not themselves
Model and willful, humble and fearless
Don't talk about themselves
Need to produce results
They say they are lucky
Credit to factors outside themselves when things go well, and take responsibility if things don't go well
Set up their sucessors for even greater sucess in the next generation
Who then what
It's not how you compensate your executives, it's which executives you have to compensate in the first place.
To have the right people, put greater weight on character attributes than on specific educational background
Growth for any company: ability to get and keep enough of the right people
The best people don't need to be managed
Unfair to wait too long before acting: wasting the other person's time and also dangereous for the good people in the team
Put your best people on your best opportunities
You need people ready to debate but who are fully behind a decision that has been taken
Love what you do because you love who you are doing this with
Confront the brutal truth
Leadership is vision, but also creating a climate where the truth is heard and the brutal facts confronted
Lead with questions, not answers
reg flag mechanism to see the treats. Don't ignore them!
Stockdale Paradox: retain faith that you will prevail in the end, regardless of the difficulties AND AT THE SAME TIME confront the most brutal facts of your current reality, whatever they might be
Hedgehog idee: SIMPLE concept flowing from the intersection between what are you deeply passionate about, what you can be the best in the world at and what drives your economic engine
foxes see the world in all its complexity, hedgehogs simply it to a single organizing idea
What can you be the best at, but also, what cannot you be the best at?
Be good at it is not equal to be the best at it
Avoid bureaucracy and hierarchy annd instead create a culture of discipline
Bureaucracy is to manage the small % of wrong people in the bus #
10/11 GtG CEO came from inside the company
Not only focus on what to do, but also what not to do, and what stop doing
Combining culture of discipline with ethic of entrepreneurship
Build a culture full of people who take disciplined action within the three circles (hedgehog concept)
People want to be part of a winning team, they want to feel the excitment
Be coherent, consistent
Not interested in Leading! with a capital L. but by Results! with a capital R.
Great to Last
Not important what your core values are, but that you built on them and that you preserve them
Identify a BHAG (Big Hairy Audacious Goal) by understanding