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Essay / Research Paper Abstract
This 3 page paper uses Jim Collins’ concepts of how a company can improve to evaluate the way in which Walgreens turned itself around. Bibliography lists 5 sources.
Page Count:
3 pages (~225 words per page)
File: KV32_HVgdgret.rtf
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begins by dismissing a number of "myths" about what has to happen in order for a company to effect change. The myths are as follows: first, there is the "Change
Program," the idea that all change begins with some sort of "launch event" (Collins, 2001). Next is the myth of the "Burning Platform," which is the idea that change can
only be effected when there is some sort of crisis that mobilizes the laggard employees to get on board with the change (Collins, 2001). The next myth is that of
stock options, which says that high salaries, big bonuses and stock options are the "incentives that grease the wheels of change" (Collins, 2001). The next myth is that of fear-driven
change, which says that fear of failure, fear of being left behind, or the fear that competitors will win are the drivers of change (Collins, 2001). Next is the "Myth
of Acquisitions," namely that its possible to acquire enough other companies to become successful (Collins, 2001). Next is the myth that says the breakthrough for any given company will occur
when it starts using technology effectively (Collins, 2001). The last myth is that of revolution, which says that change has to be "wrenching, extreme, painful-one big, discontinuous, shattering break" (Collins,
2001). None of these is true, and believing in them has the opposite effect from that most companies want. In order to do the study on which he based
the book, Collins looked at over 1,000 companies, all of which had to have been in business for over 25 years; all of which had to have improved to the
point where they were outperforming the stock market; and all of which had to have sustained their high performance for a number of years after they made the change (Collins,
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