Great by Choice: Uncertainty, Chaos, and Luck--Why Some Thrive Despite Them All By Jim Collins and Morten T. Hansen Flashcards Preview

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Flashcards in Great by Choice: Uncertainty, Chaos, and Luck--Why Some Thrive Despite Them All By Jim Collins and Morten T. Hansen Deck (69)
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1

Entrenched myth: Successful leaders in a turbulent world are bold, risk-seeking visionaries. Contrary finding: The best leaders we studied did not have a visionary ability to predict the future. They observed what worked, figured out why it worked, and built upon proven foundations.

Great by Choice: Uncertainty, Chaos, and Luck--Why Some Thrive Despite Them All By Jim Collins and Morten T. Hansen

2

Innovation by itself turns out not to be the trump card we expected; more important is the ability to scale innovation, to blend creativity with discipline.

Great by Choice: Uncertainty, Chaos, and Luck--Why Some Thrive Despite Them All By Jim Collins and Morten T. Hansen

3

Entrenched myth: A threat-filled world favors the speedy; you’re either the quick or the dead. Contrary finding: The idea that leading in a “fast world” always requires “fast decisions” and “fast action”—and that we should embrace an overall ethos of “Fast! Fast! Fast!”—is a good way to get killed. 10X leaders figure out when to go fast, and when not to.

Great by Choice: Uncertainty, Chaos, and Luck--Why Some Thrive Despite Them All By Jim Collins and Morten T. Hansen

4

Entrenched myth: Radical change on the outside requires radical change on the inside. Contrary finding: The 10X cases changed less in reaction to their changing world than the comparison cases.

Great by Choice: Uncertainty, Chaos, and Luck--Why Some Thrive Despite Them All By Jim Collins and Morten T. Hansen

5

Peter Drucker taught, the best—perhaps even the only—way to predict the future is to create it.10

Great by Choice: Uncertainty, Chaos, and Luck--Why Some Thrive Despite Them All By Jim Collins and Morten T. Hansen

6

2 10XERS

Great by Choice: Uncertainty, Chaos, and Luck--Why Some Thrive Despite Them All By Jim Collins and Morten T. Hansen

7

“Victory awaits him who has everything in order—luck people call it. Defeat is certain for him who has neglected to take the necessary precautions in time; this is called bad luck.” —Roald Amundsen, The South Pole

Great by Choice: Uncertainty, Chaos, and Luck--Why Some Thrive Despite Them All By Jim Collins and Morten T. Hansen

8

Amundsen’s philosophy: You don’t wait until you’re in an unexpected storm to discover that you need more strength and endurance.

Great by Choice: Uncertainty, Chaos, and Luck--Why Some Thrive Despite Them All By Jim Collins and Morten T. Hansen

9

You prepare with intensity, all the time, so that when conditions turn against you, you can draw from a deep reservoir of strength. And equally, you prepare so that when conditions turn in your favor, you can strike hard.

Great by Choice: Uncertainty, Chaos, and Luck--Why Some Thrive Despite Them All By Jim Collins and Morten T. Hansen

10

DIFFERENT BEHAVIORS, NOT DIFFERENT CIRCUMSTANCES

Great by Choice: Uncertainty, Chaos, and Luck--Why Some Thrive Despite Them All By Jim Collins and Morten T. Hansen

11

Let’s first look at what we did not find about 10Xers relative to their less successful comparisons. They’re not more creative. They’re not more visionary. They’re not more charismatic. They’re not more ambitious. They’re not more blessed by luck. They’re not more risk seeking. They’re not more heroic. They’re not more prone to making big, bold moves. To be clear, we’re not saying that 10Xers lacked creative intensity, ferocious ambition, or the courage to bet big. They displayed all these traits, but so did their less successful comparisons.

Great by Choice: Uncertainty, Chaos, and Luck--Why Some Thrive Despite Them All By Jim Collins and Morten T. Hansen

12

On the one hand, 10Xers understand that they face continuous uncertainty and that they cannot control, and cannot accurately predict, significant aspects of the world around them. On the other hand, 10Xers reject the idea that forces outside their control or chance events will determine their results; they accept full responsibility for their own fate. 10Xers then bring this idea to life by a triad of core behaviors: fanatic discipline, empirical creativity, and productive paranoia.

Great by Choice: Uncertainty, Chaos, and Luck--Why Some Thrive Despite Them All By Jim Collins and Morten T. Hansen

13

Fanatic discipline keeps 10X enterprises on track, empirical creativity keeps them vibrant, productive paranoia keeps them alive, and Level 5 ambition provides inspired motivation.

Great by Choice: Uncertainty, Chaos, and Luck--Why Some Thrive Despite Them All By Jim Collins and Morten T. Hansen

14

FANATIC DISCIPLINE

Great by Choice: Uncertainty, Chaos, and Luck--Why Some Thrive Despite Them All By Jim Collins and Morten T. Hansen

15

Discipline, in essence, is consistency of action—consistency with values, consistency with long-term goals, consistency with performance standards, consistency of method, consistency over time. Discipline is not the same as regimentation. Discipline is not the same as measurement. Discipline is not the same as hierarchical obedience or adherence to bureaucratic rules.

Great by Choice: Uncertainty, Chaos, and Luck--Why Some Thrive Despite Them All By Jim Collins and Morten T. Hansen

16

For a 10Xer, the only legitimate form of discipline is self-discipline, having the inner will to do whatever it takes to create a great outcome, no matter how difficult.

Great by Choice: Uncertainty, Chaos, and Luck--Why Some Thrive Despite Them All By Jim Collins and Morten T. Hansen

17

10Xers are utterly relentless, monomaniacal even, unbending in their focus on their quests. They don’t overreact to events, succumb to the herd, or leap for alluring—but irrelevant—opportunities.

Great by Choice: Uncertainty, Chaos, and Luck--Why Some Thrive Despite Them All By Jim Collins and Morten T. Hansen

18

The 10Xers, we concluded, weren’t just disciplined; they were fanatics.

Great by Choice: Uncertainty, Chaos, and Luck--Why Some Thrive Despite Them All By Jim Collins and Morten T. Hansen

19

He wasn’t weird to be weird; he was behaving with outlandish consistency to animate the culture, like an impactful actor who stays perfectly in character while on stage.

Great by Choice: Uncertainty, Chaos, and Luck--Why Some Thrive Despite Them All By Jim Collins and Morten T. Hansen

20

Both Kelleher and Lewis, like all the 10Xers we studied, were nonconformists in the best sense. They started with values, purpose, long-term goals, and severe performance standards; and they had the fanatic discipline to adhere to them. If that required them to diverge from normal behavior, then so be it. They didn’t let external pressures, or even social norms, knock them off course. In an uncertain and unforgiving environment, following the madness of crowds is a good way to get killed.

Great by Choice: Uncertainty, Chaos, and Luck--Why Some Thrive Despite Them All By Jim Collins and Morten T. Hansen

21

EMPIRICAL CREATIVITY

Great by Choice: Uncertainty, Chaos, and Luck--Why Some Thrive Despite Them All By Jim Collins and Morten T. Hansen

22

Social psychology research indicates that at times of uncertainty, most people look to other people—authority figures, peers, group norms—for their primary cues about how to proceed.16 10Xers, in contrast, do not look to conventional wisdom to set their course during times of uncertainty, nor do they primarily look to what other people do, or to what pundits and experts say they should do. They look primarily to empirical evidence.

Great by Choice: Uncertainty, Chaos, and Luck--Why Some Thrive Despite Them All By Jim Collins and Morten T. Hansen

23

The 10Xers did not generally make bolder moves than their less successful comparisons; both groups made big bets and, when needed, took dramatic action. Nor did the 10Xers exude more raw confidence than the comparison leaders; indeed, the comparison leaders were often brazenly self-confident. But the 10Xers had a much deeper empirical foundation for their decisions and actions, which gave them well-founded confidence and bounded their risk.

Great by Choice: Uncertainty, Chaos, and Luck--Why Some Thrive Despite Them All By Jim Collins and Morten T. Hansen

24

The 10Xers don’t favor analysis over action; they favor empiricism as the foundation for decisive action.

Great by Choice: Uncertainty, Chaos, and Luck--Why Some Thrive Despite Them All By Jim Collins and Morten T. Hansen

25

despite their empirical confidence, 10Xers never feel safe or comfortable; indeed, they remain afraid—terrified, even—of what the world can throw at them. So, they prepare to meet head-on what they most fear, which brings us to the third core behavior.

Great by Choice: Uncertainty, Chaos, and Luck--Why Some Thrive Despite Them All By Jim Collins and Morten T. Hansen

26

PRODUCTIVE PARANOIA

Great by Choice: Uncertainty, Chaos, and Luck--Why Some Thrive Despite Them All By Jim Collins and Morten T. Hansen

27

“Fear should guide you, but it should be latent,” Gates said in 1994. “I consider failure on a regular basis.”

Great by Choice: Uncertainty, Chaos, and Luck--Why Some Thrive Despite Them All By Jim Collins and Morten T. Hansen

28

Anyone who understood Gates would’ve known that the memo didn’t signal a change; he’d always lived in fear, always felt vulnerable, and he would continue to do so. “If I really believed this stuff about our invincibility,” he said the year after the nightmare memo, “I suppose I would take more vacations.”

Great by Choice: Uncertainty, Chaos, and Luck--Why Some Thrive Despite Them All By Jim Collins and Morten T. Hansen

29

10Xers differ from their less successful comparisons in how they maintain hypervigilance in good times as well as bad. Even in calm, clear, positive conditions, 10Xers constantly consider the possibility that events could turn against them at any moment. Indeed, they believe that conditions will—absolutely, with 100 percent certainty—turn against them without warning, at some unpredictable point in time, at some highly inconvenient moment. And they’d better be prepared.

Great by Choice: Uncertainty, Chaos, and Luck--Why Some Thrive Despite Them All By Jim Collins and Morten T. Hansen

30

10Xers have a consistent pattern. By embracing the myriad of possible dangers, they put themselves in a superior position to overcome danger.

Great by Choice: Uncertainty, Chaos, and Luck--Why Some Thrive Despite Them All By Jim Collins and Morten T. Hansen

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