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Tag: Jim Collins

  • Why any business must understand these three risks?

    Any business big or small must understand the following three risks and adopt necessary means to mitigate the same:

    1. Death Line Risk – This if not properly mitigated can kill or severely damage an enterprise
    2. Asymmetric Risk – The downside of such risks dwarfs the upside.
    3. Uncontrollable Risk – This cannot be controlled or managed and when occurs needs to be acted upon.

    It has been observed that all high performing or 10X companies have demonstrated better ability in mitigating these risks than their competitors.This is what has made companies like SouthWest Airlines , Apple to where they are today

  • Why is “Productive Paranoia” needed for high performance?

    High performers referred to as 10X performers in Jim Collins’s book titled “Great By Choice” , maintain hypervigilance ,staying highly tuned to threats and changes in environment even when everything is going well.

    These high performers use “Productive Paranoia” to turn their fear and worry into action , preparing and developing contingency plans , building buffers and maintaining high margins of safety.

    Adopted from Jim Collins’s book titled “Great By Choice”

  • Why is “Empirical Creativity” needed for high performance?

    This skill relates to relying on direct observation , practical experimentation and direct engagement with direct evidence.This helps high performers make bold moves from a sound empirical base.

    Thus when faced with uncertainty , high performers or 10X performers do not look up to other people or peers for direction they primarily look up to empirical evidence.

    Adopted from Jim Collins’s book titled “Great By Choice”

  • Fanatic Discipline for high performance

    Fanatic Discipline for high performance

    Why is Fanatic Discipline needed for High Performance?

    In his book Great by Choice Jim Collins illuminates us on the need for leaders to exhibit fanatic discipline for high performance of their teams.

    Such Discipline helps in displaying extreme consistency of action in terms of values , goals , performance standards & methods.

    With a sense of “Fanatic Discipline” , high performers are utterly relentless , unbending in their focus on their quests.

    The following snapshot mentions the 5 elements which are the key ingredients of Fanatic Discipline.

    Fanatic Discipline for High Performance

    For another such wonderful insight from the same book, please read below:

    https://viewpointsunplugged.com/10x-organizations-and-their-fanatic-discipline/

    To know more about the author Jim Collins and his work please read the link:

    https://en.wikipedia.org/wiki/James_C._Collins

  • Guiding principles adopted by high performing companies

    SMaC stands for Specific , Methodical and Consistent operating practices adopted by 10X companies as a recipe for long term success

    Though this is a checklist , depending on the changing environment it needs to be dynamic without altering the basic essence

    10X compaies use “empirical creativity” to develop the checklist , “fanatic discipline” to stick to it and “productive paranoia” to sense necessary changes

    Adopted from Jim Collins’s book titled “Great By Choice”

  • SMaC operating practices of 10X companies

    All 10X or high performing companies are characterized by SMaC operating practices that create a replicable and consistent success formula

    SMaC stands for:

    S – Specific

    M – Methodical

    C – Consistent

    Adopted from Jim Collins’s book titled “Great By Choice”

  • The infinite minded leader , Herb Kelleher

    Adopted from wikipedia , read more about the chairman emeritus of South West Airlines and what made him a visionary , infinite minded , 10X leader

    https://en.wikipedia.org/wiki/Herb_Kelleher

     

  • Merits of Herb Kelleher’s conservative balance sheet

    South West Airlines over the years has become renowned as an iconic Airlines in the United States of America.

    The chairman of SWA , Herb Kelleher built the company’s culture around employee benefits , respect to employees which was a key aspect that helped SWA outperform competitors.

    As a leader Herb Kelleher exhibited “Productive Paranoia” , always vigilant about the external operating business conditions to help SWA stay afloat.

    Once such strategy was to maintain a conservative balance sheet and surplus cash balance without being too greedy for growth.

    What this did was that it helped SWA continue with its 20 Mile march and reap profits even during rough times for e.g post 9/11 , SWA was the only Airlines who did not fire people and who registered profits when its competition was falling apart.

    Adopted from Jim Collins’s book titled “Great By Choice”

  • David Breashears and his “productive paranoia”

    David Breashers was the director of the IMAX film titled “Everest” which was shot in Mount Everest ,the tallest peak in the world.

    This was filmed during the 1996 Mount Everest Disaster which killed quite a few mountaineers.

    It was the “Productive Paranoia” of the 10X leader David Breashears which saved his entire team and helped in production of the iconic film titled “Everest”.

    By use of “Productive Paranoia” he was able to preempt the storm and hence his team was better prepared in the face of the storm.

    Read more about “Everest” the film and 1996 Mount Everest Disaster from the following wikipedia links:

    https://en.wikipedia.org/wiki/Everest_(1998_film)

    https://en.wikipedia.org/wiki/1996_Mount_Everest_disaster

    Adopted from Jim Collins’s book titled “Great By Choice”

  • What is “Black Swan” theory?

    Black Swan theory is referred to an unforeseen event which hits hard when it comes.

    Since this is an unpredictable event hence businesses need to be well prepared for such events with the necessary contingencies in place.

    Please refer to the following link(Source wikipedia) to know more about this effect.

    https://en.wikipedia.org/wiki/Black_swan_theory

    Jim Collins makes a mention of this in his book titled “Great By Choice”