Good To Great
Author: Jim Collins , Publisher: Harper
Gist of Collins book for first few chapters.
Good is the enemy of great.
There are many people around the globe who lead or have led good lives but only few people attain great lives. We don’t have great government because we have good government. Similarly, if one looks around the world, she would see that there are thousands of good companies but few great companies. Why? Perhaps, because it is easy to settle for a good company or a good life. Therefore, for vast majority of companies, the problem is that they are good and they are comfortable with it.
The underlying point here is, we should strive to become great. One such company was GE. It outperformed the markets for a long time as long as fifteen years. 15 years is a good time frame to judge as no company can just be lucky for fifteen years. Also, this time frame would exceed the tenure of one chief executive officer re-asserting the fact that the success of the company was not because of one good leader but because of their work culture as a whole.
My Notes: We must demand excellence from ourselves, and from the leading lights of our society. We improve as traders, every day by practice, practice and more practice.