Good To Great: Jim Collins Chapter 7: Technology Accelerators Lauren Parr, Matt Slaby, Parishwi Giri

Topics to Present Technology and the Hedgehog Concept Technology Accelerators in the Good-To-Great Companies Technology as an Accelerator, Not a Creator, of Momentum The Technology Trap Technology and the Fear of Being Left Behind Summary of Points

Technology and the Hedgehog Concept Technology induced change is nothing new Not the real question- “What is the role of technology?” The Real Question= “How do good-to-great companies think differently about technology?”

Technology Accelerators in the Good-To-Great Companies Fannie Mae Kimberly-Clark Philip Morris Wells Fargo Kroger Circuit City

Technology as an Accelerator, Not a Creator, of Momentum When used right, technology becomes an accelerator of momentum, not a creator of it. The good-to-great companies never began their transitions with pioneering technology. You cannot make good use of technology until you know which technologies are relevant.

Technology as an Accelerator, Not a Creator, of Momentum Technology is relevant if it links directly to the three intersecting circles of the Hedgehog Concept.

The Technology Trap Two Main Concepts: Time Magazine Selection for “Person of the 20th Century” Albert Einstein Time Magazine Selection for “Person of the Year” in 1999. Jeff Bezos – Amazon.com If Technology is so important in todays society, why did the Good-to-Great companies talk so little about it in their interviews? “We were quite surprised to find that fully 80 percent of the good-to-great executives we interviewed didn’t even mention technology as one of the top five factors in the transition. Furthermore, in the cases where they did mention technology, it had a median ranking of fourth, with only two executives of eighty-four interviews ranking it number one.”

Technology and the Fear of Being Left Behind Kimberly-Clark -“We’re just never satisfied. We can be delighted, but not satisfied.” Strive for greatness for your own sake, not the fear of being left behind. “No technology, no matter how amazing- not computers, not telecommunications, not robotics, not the internet- can by itself ignite a shift from good to great.” Letting something remain good when it can become great is mediocre. “No those who turn good into great are motivated by a deep creative urge and an inner compulsion for sheer unadulterated excellence for its own sake. Those who build and perpetuate mediocrity, in contrast are motivated more by fear of being left behind.”

Summary of Main Points Good to Great companies think differently about technology and technological advances than mediocre companies. Good to Great companies stay ahead and become pioneers in the application of carefully selected technologies. Don’t use bandwagon technologies, they carefully select technology that will help them. How a company reacts to technological change is a good indicator of the inner drive! Great companies respond with thoughtfulness and creativity to turn unrealized potential into results. Mediocre companies are motivated by fear of being left behind.