Good to Great Fast Company by Jim Collins October 2001
Nature provides that; a journey of a thousand miles begins with a simple step. This provides a platform of progressing with the journey until one reach the destiny. Jim Collins moved his company from a mere good company to a great one, he use several strategies to achieve this goal.
Diversity brings about the factor of transformation; it provides a platform of advancing form one level of development to the next one and later on achieve ones goals. Jim took a bold step of fitting into the diverse society. He used the economic tools of analysis to determine the needs and wants of the consumers. This provided a development ground where he used as a competition strategy. Diversity involves fitting into the modern society and exploring new opportunities. It involves person aggressiveness; it is about going an extra mile and doing what others have not done. It is all about being unique. Out of the 1435 companies that were studied, Jim Collins Company was found to be a mile away in terms of diversity. Jim used tools that no other market player had tried out. This alone resulted to desirable results by the company.
Employee appraisal involves rewarding a given employee for the good work that they have done (Gerald 2013). Jim used this human resource tool to motivate the set of workers that worked for his company. Employee appraisal gives them the motivation to work much better than their current level of competence. It is a tool that is used by most managers to increase the competency of the employees. Due to the increased morale that the employee develops in order for them to be rewarded accordingly; the input also increases significantly. This results to better capacity building among the employees. It gives them more insights to improve on their workaholic ratio and thus contributes significantly to the growth of the company. Jim can be termed as a revolutionary investor that used this strategy to witness shifting of his company from scratch to a business mogul.
Planning is a factor that needs more concentration by any business owner; planning for the better of the company results to positive and desirable results. Jim used this tool to plan for the future, he development a blueprint of ideas on how he wanted his company to look like in ten years (Filinkov et al. 2014). Given the fact that; one cannot just wake up any given day and be a millionaire supports this fact. Jim ensured that all the pressure and positivity towards achieving his personal goals was ascertained for. Jim was concerned on how he wanted his company to be like and operate like all the other competent companies in the market. Therefore, planning is eminent for any proprietor of a given business who wants to ensure that, positive trends for profit margin that he realizes are achieved.
Jim Company grew from good to being great; this was achieved due to the rigorous steps that the management took to ensure that growth was the order of operations in the company. Planning is also critical in developing positive reputation of a given company. An employee also plays a critical role in ensuring that a company succeeds; therefore, an appraisal gives them the morale to work harder to realize growth trend.
Filinkov, A., & Dortmans, P. J. (2014). An Enterprise Portfolio Approach for Defence Capability Planning. Defense & Security Analysis, 30(1), 76-82.
Gerald J., W. (2013). Contribution of Performance Appraisal in Industrial Arena. Indian Streams Research Journal, 3(10), 1-5.