Boards of directors typically believe that transforming a company from good to great requires an extreme personality, an egocentric chief to lead the corporate charge. In this article, Collins paints a compelling and counterintuitive portrait of the skills and personality traits necessary for effective leadership. He identifies the characteristics common to Level 5 leaders: humility, will, ferocious resolve, and the tendency to give credit to others while assigning blame to themselves. Collins fleshes out his Level 5 theory by telling colorful tales about 11 such leaders from recent business history.
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A disruptive technology or disruptive innovation is an innovation that helps create a new market and value network, and eventually goes on to disrupt an existing market and value network. The term is used in business and technology literature to describe innovations that improve a product or service in ways that the market does not expect. Although the term disruptive technology is widely used, disruptive innovation seems a more appropriate term in many contexts since few technologies are intrinsically disruptive; rather, it is the business model that the technology enables that creates the disruptive impact. How can I beat my most powerful competitor? Why has disruption proven to be such a consistently effective strategy for causing strong incumbent competitors to flee from their entrant attackers, rather than fight them? How can I shape a business idea into a disruptive strategy?
He was widely known for his methods to improve industrial efficiency. In , Taylor summed up his efficiency techniques in his book The Principles of Scientific Management which, in , Fellows of the Academy of Management voted the most influential management book of the twentieth century. Taylor made his name, and was most proud of his work, in scientific management; however, he made his fortune patenting steel-process improvements.
The iron and steel industry has undergone a technological revolution in the last 40 years. In a relatively short time, the North American industry has observed the complete disappearance of basic open hearth processing, as well as the wide spread adoption of continuous casting and the near complete shift of long product production to the electric arc furnace sector. These and other developments have dramatically affected the way steel is made, the price, quality and range of products generated, and changed the basic structure of the industry. The same trends can be observed in other industrialized nations and are reflected in the global industry as well. Competitive forces and market globalization will continue to drive the development and adoption of new iron and steelmaking technologies well into the 21st century.