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¶ … Jim Collins, this can be done with some restructuring and changing priorities. The breakthrough to becoming a great company does not happen over night in one big event, but instead after a company has built up enough forward momentum to make the leap. The following are some of the parameters that set "great" companies apart, according to Collins. Good-to-Great leaders are unpretentious about their achievements and ascribe their successes to external rather than personal factors. However, they accept blame for failure. They are determined to accomplish whatever is needed despite the difficulty or degree of challenge. They set high standards for others, motivating them by demanding excellence and acting as...

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Collins calls this level 5 leadership.
Good-to-Great leaders first and foremost hire the right leadership team, then develop the plan as a collaborative effort among these hand-picked individuals.

Good-to-Great companies do not cover up bad news, but seek out the truth about themselves and the circumstances to better everyone in continuous improvement.. This stresses the importance of asking the tough questions and creating an environment where the truth can be heard.

Collins likens the Good-to-Great companies to hedgehogs: They are very good at doing one big thing. They are able to simplify a complex business into a single organizing concept that leads everything else.…

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