Good to Great: The Hedgehog Concept (Simplicity within the Three Circicles
Deep understanding of three intersecting circles
What you can be the best in the world at
What drives your economic engine
What are you deeply passionate about
The Hedgehog concept is an understanding
Not a goal, strategy or intention
The "best in the world" understanding is a more severe standard than a core competence
You might have a competence but not necessarily have the capacity to be truly the best in the world at that competence
Good to great companies:
Companies should only do those things that they can get passionate about
Set their goals and strategies based on understanding, not bravado
Are more like hedgehogs
Simple, dowdy creatures that know "one big thing" and stick to it
It took them four years to get a Hedgehog concept
Deep understanding of what you can be the best at
Does not need to be in a great industry to become a great company
Built a famous economic engine
Because they attained profound insights into their economics
The Council
Group of the right people who participate in dialogue and debate guided by three circles about vital issues and decissions facing the organization
Council members come from range of perspectives, but they hace deep knowedge about some aspect of the organization
Does not seek consensus
Final decision remains with the leading executive