Technology Accelerators

Technology Accelerators Chapter 7 in "Good to Great" by Jim Collins

How should we approach technology?

Crawl: Good-to-great companies aren't always the forerunner on new technology innovations, but take time to think through how this new technology will fit into their hedgehog concept. If the technology doesn't fit in to the hedgehog concept, don't use it (Collins, 2001, p152).

Walk: After identifying how a new technology will enhance your hedgehog concept, begin integrating it into your system with passion (Collins, 2001, p153).

Run: Many good-to-great companies became pioneers in certain technologies that accelerated their greatness by allowing their hedgehog concept to direct the use of technology, not by allowing technology to change their hedgehog concept (Collins, 2001, p152).

What is the role of technology?

Technology serves as an accelerator, and an accelerator only. "Technology cannot turn a good enterprise into a great one, nor by itself prevent disaster." (Collins, 2001, p158)

Case Study

In 1999, online pharmacies began to emerge. At first, Walgreens suffered by over 40% of stock value and the general public had little faith in its recovery. One of the executives at Walgreens stated, "Let's quietly go about doing what we need to do, and it'll become clear soon enough that they just pulled the tail of the wrong dog" (Collins, 2001, p146). Within the next year, Walgreens had launched it's first Internet site and its stock price grew by over 200%.

The Real Question: "How do good-to-great organizations think differently about technology?" (Collins, 2001, p147)

"They don't understand technology, and many fear it." (Collins, 2001, p155)

Don't fall into the trap of being fearful of technology or change. Use wisdom and discernment to identify which technologies will fit into your company's hedgehog system. Once identified, implement the new technology with zeal and excitement as your company advances to the next level of flywheel momentum.

"Those who built the good-to-great companies weren't motivated by fear. They weren't driven by fear of what they didn't understand." (Collins, 2001, p160)

References

Collins, Jim. (2001). Good to great: Why some companies make the leap and others don't. New York: HarperCollins.

Crawl, Walk, Run. (n.d.). Retrieved January 25, 2016, from www.flickr.com

Do Not Be Afraid. (n.d.). Retrieved January 25, 2016, from rickandlindareed.com

GMB Technology. (n.d.). Retrieved January 25, 2016, from http://www.gmbtechnology.com/

Patterson, J. (2015, October 5). JUST HOW IMPORTANT TECHNOLOGY IS TO CUSTOMER SERVICE IN TODAY’S TIME. Retrieved January 25, 2016, from http://www.misgl.com/blog/just-how-important-technology-is-to-customer-service-in-todays-time/

Pushing the Flywheel. (n.d.). Retrieved January 25, 2016, from millcreekmo.org

Walgreens store. (n.d.). Retrieved January 25, 2016, from www.paths2empowerment.com

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Technology Accelerators Chapter 7 in "Good to Great" by Jim Collins

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