The Hedgehog Concept is developed in the book Good to Great. A simple, crystalline concept that flows from deep understanding about the intersection of three circles: 1)
what you are deeply passionate about
, 2) what you can be the best in the world at, and 3) what best drives your economic or resource engine.
What is hedgehog concept in business?
The Hedgehog Concept calls
on companies to identify their core value proposition
(or the primary thing that they do well) and focus on that. The concept says that scattering ones interests and objective causes a lack of focus, competency, and efficiency. Thus, it results in getting little done.
What does the hedgehog concept mean?
What Is the Hedgehog Concept? The Hedgehog Concept is based on an ancient Greek parable that states,
“The fox knows many things, but the hedgehog knows one big thing.
” … Hedgehogs, however, simplify the world and focus on a single, overarching vision, which they then achieve.
Why is it called hedgehog concept?
The name “Hedgehog concept” derives
from from the ancient Greek poet Archilochus who wrote that “Foxes know many things, but the hedgehog knows one big thing”
.
What is Amazon's hedgehog concept?
Jim Collins' Sweetspot Lens
Jim also discusses what he calls the “hedgehog” concept. He found that the great companies
(also applies to individuals)identified and focused on their “sweet-spot” where talent, passion and economic opportunity merge
– see the diagram below.
Is it better to be a hedgehog or a fox?
Psychologist Phil Tetlock thinks the parable of the fox and the hedgehog represents two different cognitive styles. “
The hedgehogs are more the big idea
people, more decisive,” while the foxes are more accepting of nuance, more open to using different approaches with different problems.
What is your personal hedgehog?
A personal hedgehog is
an exercise done by an individual in which they determine
– with the help of those who know them well – what they're passionate about, what innate skills or abilities they have, and what marketable skills they might possess. You then see where the three areas intersect and overlap.
What are hedgehogs good at?
Some people consider hedgehogs useful pets because they prey on many common garden pests. While on the hunt, they rely upon their
senses of hearing and smell
because their eyesight is weak.
What is the difference between Porcupine and hedgehog?
Hedgehogs are smaller than porcupines
, with quills or spines also shorter than the latter. Hedgehogs' quills do not fall off, while porcupines' spines easily attach to any unfortunate predator who dares to come close enough. As to diet, porcupines are herbivores, while hedgehogs are omnivores.
What is a Level 5 Leadership?
“Level 5” refers to
the highest level in a hierarchy of executive capabilities that we identified during our research
. Leaders at the other four levels in the hierarchy can produce high degrees of success but not enough to elevate companies from mediocrity to sustained excellence.
What do hedgehogs eat?
Hedgehogs mainly eat creepy crawlies
The most important invertebrates in their diet are
worms, beetles, slugs, caterpillars, earwigs and millipedes
. As well as these, they also eat a wide range of other insects.
How does the hedgehog concept compare to the idea of a corporate vision?
Hedgehogs are slow and less smart compared to foxes
. But, they simplify the world around them and focus on a single, coherent vision. Companies that focus on multiple things at once are the foxes. They can lose focus, which undermines their chance of success and achieving greatness.
When trying to go from Good to Great you should?
- Find your compelling “why.” Find your one thing. …
- Become a force of one. …
- Model the best. …
- Give your best where you have your best to give. …
- Find your best arena. …
- Execute. …
- Stick with it. …
- Learn and respond.
What drives your economic engine examples?
- Revenue per customer. Focusing on revenue/customer drives increased transactions by each customer or greater spending per transaction. …
- Revenue per project. Focusing on revenue/project drives sales activity towards the best-fit projects for your company's core competencies. …
- Revenue per product line.
What is the main difference between the flywheel and the doom loop?
Collins likens the process of going from good to great to the turning of a heavy flywheel. To get the flywheel moving takes continuous effort and dedication, but once it's spinning, its momentum keeps it going. The opposite of the flywheel is the doom loop,
a painful cycle of decline
.
What is the flywheel Amazon?
What is Amazon Flywheel? Amazon Flywheel is a strategy:
lower prices bring more customers (sales)
– it attracts more sellers who improve the goods selection. That brings even more customers and lowers costs for Amazon so they can lower prices further. Optimizing any part of the flywheel accelerates the entire loop.
