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GOOD TO GREAT: CHAPTER 2 Ashley Gonzenbach, Brian Byrne, Diana Perkins, Amanda Long.

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Presentation on theme: "GOOD TO GREAT: CHAPTER 2 Ashley Gonzenbach, Brian Byrne, Diana Perkins, Amanda Long."— Presentation transcript:

1 GOOD TO GREAT: CHAPTER 2 Ashley Gonzenbach, Brian Byrne, Diana Perkins, Amanda Long

2 Darwin E. Smith  Grew up on a farm in Indiana  Paid his way through college  In-house lawyer  Promoted to CEO of Kimberly-Clark  Nose and throat cancer  Great leader  “I never stopped trying to become qualified for the job.”

3 Level 5 Leaders  Good leaders  Manage for the success and betterment of themselves  Great Leaders  manage for the success and betterment of the company and the people as a whole  An individual who blends extreme personal humility with intense professional will.

4 Why is it called “Level 5”? Level 2 Level 3 Level 4 Level 5 Level 1 Highly Capable Individual Contributing Team Member Competent Manager Effective Leader Level 5 Executive= Humility + Will

5 Level 5 Leaders  Coleman Mockler, CEO Gillette  CEO from  Fought off three takeover bids  Invested in radically new and technologically advanced systems  Died after making cover of Forbes magazine

6 Level 5 Leaders  David Maxwell, CEO Fannie Mae  Took over when Fannie Mae was losing $1 million a day  Transformed Fannie Mae to beat general stock market 3.8 to 1.  Gave up $5.5 million of remaining retirement package back to Fannie Mae

7 Level 5 Leaders  Ken Iverson, CEO Nucor  Comparison company Scott Paper was set up for failure by CEO  Chrysler also rose in performance only to decline in later years

8 Unwavering Resolve to Do What Must Be Done  Level Five Leadership  Not just about humility and modesty  Equally about ferocious resolve - Stoic determination to do whatever needs to be done to make a good company great

9 Deciding How to Describe Good-to-Great Leaders Initial Terms and Ideas  Selfless executive  Servant leader  Can be misleading  Certain labels sound meek and weak  Only portray the humility side The Other Side of the Coin  Fanatically Driven  Infected with incurable need to produce results  Will do what must be done  Humility + Will = Level 5

10 George Cain CEO Abbott Laboratories  Inside the company  Key asset- inspired standards  Would not tolerate meritocracy  Set out to destroy nepotism at Abbott  Took the company from good to great

11 Charles R “Cork” Walgreen III CEO of Walgreens  Did not let the his family and emotional ties effect his decisions  Took a chance  Transformed the entire business

12 Alan Wurtzel CEO Circuit City  Took over family’s small company  Was a plow horse rather than show horse  Sheer workmanlike diligence  Credits luck  Ties into “The window and the mirror” concept

13 Window In the Mirror  Look out the window at all the people who contributed to the success  Credit factors outside themselves  If the cannot find a person or event to credit they credit luck When Things Go Well  Look in the mirror and blame themselves  Never blame bad luck  Don’t look out on others When Things Go Poorly

14 Joseph F. Cullman III CEO of Phillip Morris  Refuses Credit for success  Credits good fortune  Great colleagues, successors, and predecessors  Wrote book “I’m a Lucky Guy”

15 Ken Iverson CEO of Nucor  Comparison of corporate view with Bethlehem Steel  Challenge from imports  Stoke of good fortune  He saw problems in management

16 Irene Rosenfeld CEO of Kraft Foods  Came from within Kraft  Took over while Kraft was in a sluggish stage  Been there 20+ years prior  Held numerous other positions in the company  Exudes passion and perseverance

17 What They All Have In Common  George Cain  Charles R “Cork” Walgreen III  Joseph F. Cullman III  Alan Wurtzel  Ken Iverson  Irene Rosenfeld  Modesty and Humility  Came from within  The will to do what must be done  Emphasis on luck and good fortune  The Window and the Mirror

18 Cultivating Level 5 Leadership  Can you learn to become Level 5?  Two categories of people 1. Those who don’t have it 2. Those who do have it  Practice the 11 good-to-great leaders’ characteristics and their ways

19 Summary: The Two Sides of Level 5 Leadership  Creates superb, clear results  Does what must be done  Sets standard for great a company  Looks in mirror for bad results  Modest; not boastful  Acts on standards, not charisma  Sets up successors or success  Looks out the window for great results Professional WillProfessional Humility

20  Irene Rosenfeld, CEO  Came within the company Been with Kraft for 20 + years  Very competitive Determined on standards, not self  Very ambitious Wanted to be president, will get done what needs to be done

21 Three Takeaways  Setting up Successors for Success  David Maxwell of Fannie Mae  A Compelling Modesty  very non I-centric style  The Window and the Mirror  Look out the window for credit  Look in the mirror for blame

22 References   Collins, Jim. Good to Great. p HarperCollins Publishers Inc.

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