In this video, well summarize the key concepts of good to great, including. Jim collins says that in 1994 when he and his coauthor, jerry porras, were writing the seminal book built to last, they debated what to call ambitious longterm goals that galvanize successful. On his web site there are 48 articles written or cowritten by him. Like the moon mission, a true bhag is clear and compelling and serves as a unifying focal point of effort often creating immense team spirit. In the 2010s, wells fargo perpetrated some of the poor behaviors the book claimed they. Big hairy audacious goal bhag definition investopedia. The best bhags require both building for the long term and exuding a relentless sense of urgency. Successful habits of visionary companies by jim collins and jerry porras. Why some companies make the leap and others dont 8600383743. Boeing corporation is an excellent example of how highly visionary companies often use bold missions or what we prefer to call bhags pronounced beehag.
Circuit city, another good to great, doesnt even exist anymore, at least by name and as a bricknmortar store. Bhag is a concept developed in the book built to last. A list of jim collinss core concepts that you can find throughout his books. Being the best means there is absolutely no room for mediocre thinking.
Wells fargo, a good to great awardee, arent so noble anymore given their recent scandals. Like good to great, built to last compares great companies to good ones during specific eras in history, asking, what systematically distinguishes the great from the average. Bhag why the most successful companies set ambitious, long. To put it simply, a big, hairy, audacious goal or bhag a term coined by jim collins and jerry porras in their book, built to last. How to create your bhag big hairy audacious goal 3 step. Therere not striving to be the best in the industry. The power of the bhag is that it gets you out of thinking too small. Turning the flywheel good to great built to last great by choice good to great and the social sectors. However, collins draws on the goodtogreat concepts to conclude that understanding based on the three circles are the key foundation of good bhags, while bad bhags are based on bravado rather than insight. Before he researched and wrote good to great, jim collins was involved in a sixyear project at stanford business school.
A bhag engages peopleit reaches out and grabs them in the gut. Successful companies like microsoft, facebook, evernote and nike all have a bhag big, hairy, audacious goal. Good to great built to last and good bhags fresh business. The first being an environment that did not confront the brutal facts and where people and the truth were not heard. He gives the example of boeings entry into commercial aircraft production as an example of creating a good bhag based on deep understanding. Jim collins and jerry porras first coined the term bhag big hairy audacious goal, pronounced beehag in their 1994 book entitled built to last.
Classic bhag examples still relevant in 2020 rhythm systems. Among the findings are preserve the corestimulate progress, bhags big hairy audacious goals, and the genius of the and. Why visionary companies always have a bhag youtube. How are companies that pursue bhags different from others. Uncertainty, chaos, and luckwhy some thrive despite them all good to great book 5 jim collins. Researcher and management guru jim collins has authored or coauthored six books, including good to great and built to last. Fannie mae, praised as one of the banks to go good to great, has fallen into the trash heap since 2008 and has never recovered. It has a clear finish line, so the organization can know when it has achieved the goal. Many people and companies settle for good because its easier.
A bhag is clear and compelling, needing little explanation. A monograph to accompany good to great jim collins. Like the moon mission, a true bhag is clear and compelling and serves as a unifying focal point of effortoften creating immense team spirit. A bhag engages people it reaches out and grabs them in the gut. The second being an environment that did confront the brutal facts and where people had a tremendous opportunity to be heard.286 164 1491 229 1056 1245 218 913 28 435 1311 753 838 448 1435 1171 246 712 42 202 259 49 1111 839 828 838 303 629 1004 819 1179 736 1467 681 737 684 1463 1431 1020