For several years now, our law firm has been bringing major foreign titles to the Czech book market on the topic of strategic development of companies and their management. Undoubtedly, the American author Jim Collins is one of the absolute top experts in this field. After the publication of the Czech translation of his two most famous books – Built to Last and Good to Great – we could not miss his next bestseller. Firmy, které se rozhodly být skvělé (in Czech) is a publication that was published 10 years ago under the title Great by Choice.
Jim Collins, in collaboration with Morten Hansen, a professor of management at the University of California, Berkeley, is once again looking for an answer to why some companies and their leaders are more successful than their immediate competitors. However, he examines the difference between a good and a great company in the context of a new variable – the extreme environment. He tries to clarify why companies, which often had the same starting position and comparable results at the starting line, began to distance from each other in times of crisis, uncertainty and chaos, why some prospered in extreme conditions while others declined, and what were the reasons behind this difference.
Jim Collins likes to use metaphorical comparisons, and there is no shortage of them in this book either. In the race to conquer the South Pole, he demonstrates two typologies of management: According to Collins, it is characteristic of company leaders who, like Amundsen, managed to navigate their business through difficult times, that although they realize the uncertainty, unpredictability and chaos of the outside world, unlike their competitors, they prepare systematically and much more consistently for the arrival of, if I may borrow another apt metaphor, “black swans”. As the author also noticed, they emphasize discipline in terms of long-term and persistent pursuit of values, methods and long-term goals, rely more on empirically proven facts to better control self-confidence and risk, and last but not least, have a constant tendency to be on alert and not rest on their laurels.
When I look back at the twenty-year history of our law firm, I see many parallels with what is described in this book as a successful corporate strategy. When the author introduces the philosophy of the “20-mile march” and cites the American airline Southwest Airlines as an example, which did not dismiss a single employee in the early 1990s during the downturn in the aviation industry and massive layoffs, I recall our strategy during the 2008–2009 financial crisis. It was right during that period that we made the biggest shift compared to our competition. Instead of cost and personnel cutting, we invested in the development and retention of clients and the hiring of key professionals and looked for new opportunities, which very soon allowed us to gain an edge over the competition in a short period of time.
Now there is a new pandemic crisis, and again the scissors will open between those who were able to prepare for it in time and those who were not so far-sighted. In our law firm, we remained vigilant after the crisis subsided after 2009. We knew that in today’s dynamically changing world economy, another downturn could suddenly come. Thanks to many years of experience and macroeconomic data, we were intensively preparing for the next economic downturn for a long time; both in terms of the scope of our services and consistent financial management, as well as the digitization and use of modern forms of communication with clients and the media. Only thanks to this, despite the effects of the pandemic, we were able to achieve further economic development last year, thus confirming a continuous process in which we have been growing every year since our foundation in 2001 in terms of turnover, personnel, and the quality and scope of our services.
However, the fact that in 20 years of existence we have grown from a small start-up of 5 people to the largest independent law firm in Central Europe with an annual turnover of over a billion crowns, can be considered by many that we were just luckier. But as it states so accurately in this book,the best ones are not just luckier. They just know exactly how to handle lucky eventsefficiently.
I wish that you will be able to handle your luck well (not only) in these difficult times and embrace it. I recommend the book Great by Choice to you because it offers a wealth of valuable advice.
HAVEL & PARTNERS has long supported the publication of the world’s best books in the fields of economics, management, and marketing. We thus try to contribute to the education of Czech and Slovak entrepreneurs and the cultivation of the business environment. We select exceptionally successful foreign titles and bring them to the Czech market. These books are also an inspiration to us in managing our law firm.
If you are interested in this book, contact us at office@havelpartners.cz, we will be happy to provide you with this world bestseller.
