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If you have read our article about the Hedgehog concept for Ivy League admissions, then you already know what makes the IvyZen approach unique in the field of Ivy League admissions consulting. I’m talking, of course, about the concept of Themes and the way they help answer the question of how to get into an Ivy League school.
Need a refreshing strategy that can lead to surprising business effects? Read more about the Hedgehog Concept: https://www.toolshero.com/strategy/hedgehog-concept-jim-collins/
Hedgehog Concept
What it is:
A simple, crystalline concept that flows from deep understanding about the intersection of the following three circles: what can you be best in the world at, what drives your economic engine, and what are you deeply passionate about?
What it means:
In order to be great at something, you first have to understand what you can and want to be great at it and pursue that and nothing else. This conclusion comes from analyzing the three circles and determining what concept intersects. While the hedgehog concept was designed to understand how good businesses became great, the hedgehog system can also be used to analyze any system or personal goals to find what would make it great.
In business, to be great you have to find your niche, some place where you can be number one or two in the market.
Example:
In the mid-1970s, Walgreens and Eckerds were about equal in the market. However, Walgreens decided to focus on things that it could be the best at, while Eckerds did not.
Walgreens decided that it could excel at having the best, most convenient drugstores with a high profit per customer visit. It got rid of inconvenient locations and built on locations with high customer traffic. It then provided services in the store to increase profits, such as film processing.
Meanwhile, Eckerds spent money acquiring other drugstores and going into the home video market. Walgreens focused on what it could do best, what generated the most profit, and what it was interested in doing. Eckerds did none of these things.
By 2000, Walgreens was still going strong, while Eckerds has ceased to exist as an independent company.
Source: Jim Collins, Good to Great.
Kyle Crocco is a Content Consultant in Santa Barbara for BigSpeak Speakers Bureau and Airtime Watertime®.
Randy Forbes: The Hedgehog Concept
Many business leaders are familiar with a famous parable where the fox, in all of his cunning and craftiness, tries repeatedly to outsmart the hedgehog. The fox changes strategy daily, coming up with new tactics and schemes. He is unsuccessful, of course, because the hedgehog knows what he will do each time: roll up into a ball. No matter how complex the challenge, the hedgehog reduces it down to…
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The Hedgehog Concept #jimcollins #goodtogreat #greatbychoice #builttolast #thehedgehogconcept #hedgehogconcept #business #businessintelligence #
The Hedgehog Concept #jimcollins #goodtogreat #greatbychoice #builttolast #thehedgehogconcept #hedgehogconcept #business #businessintelligence # was originally published on JoelOwnby
Mom Conference- Day 5
Mom Conference- Day 5
I am not 100% sure what day our speaker spoke on. To be honest, I lost track of days and having a sick baby was a hard balance to keep going to these. But, for sake of keeping up on my lessons learned, we will just call today, Day 5. Today I heard April Perry from the powerofmoms.com speak on Helping Busy Moms Keep Their Focus.
I think the best part of this was her speaking on the Hedgehog…
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Good to Great-ness
Our library is using a Becca-selected blend of ethnographic population studies and Good to Great-ness to frame our organizational redesign and planning. Three all volunteer task forces have: (1) conducted population studies using ethnographic techniques, (2) engaged in "Where's Waldo" studies of how our physical and virtual spaces are being used and (3) went on a quest for examples of hedgehog concepts from other libraries and best practices from white papers and thought pieces.
How long did it take? Less than one semester. Last task force report is due end of next week. Our finding will drive our discovery of a hedgehog concept and our organizational redesign.
More to come.
