What differentiates excellent companies

What are the characteristics that make a business stand out? The importance of teamwork and the ability to "set the tone." Which companies should you learn to avoid? Written by Theodore Krintas.

In Search of Excellence is a book written by Tom Peters and Robert H. Waterman Jr., first published in 1982 and based on a study of forty-three of America's best companies from a variety of business sectors.

The book describes eight basic management principles that energize organizations, focus on people, and maximize profits, which these organizations have successfully implemented. The book sold three million copies in its first four years and was the most widely read monograph in the United States for 17 consecutive years.

We understand that excellence and success are sought after, at least in the US...

To our knowledge, there is no equivalent or similar book for Greek companies, but that does not prevent us from seeking the characteristics of excellent businesses together, and that is exactly what we will do in the following paragraphs, with the promise to return with a more detailed analysis in a future episode of the podcast "O Koubaras mou."

From our childhood, we know that excellence is built early on. Sometimes in elementary school, sometimes in middle school and high school, and less often in college. So let's learn the history of each company. How did it start, did it achieve its goals? Excellent companies are always focused on results.

On the other hand, excellent companies strive for excellence, for the best, always and everywhere. They do not compromise, they do not deviate "just this once," they do not "turn a blind eye," and above all, they do not look for excuses, they do not rush to give their results top marks, and they get along very well with their "mirror."

We can easily spot them because they put their team first. They are humble and always aim for the best team. People come first. Only in this way can they achieve strong ethics, strong values, and deep foundations in their relationships with each other, their customers, and their suppliers.

It is also important to distinguish them by the fact that they "define the playing field." Not the result, not the game. The playing field itself, where all future business battles will be fought. Entrepreneurship is a long-term game or, if you will, a long series of games played simultaneously around the world, rather than a single game played in one country, decided by penalty kicks...

Perhaps the most important characteristic they have is optimism about the results. Optimism based on actions, strong faith, and concrete actions, not on imagination and hopes... The best distribute opportunities to the team, partners, and the market, not problems! Avoid companies and people who have enough problems to counter every opportunity that arises.

These organizations that we aspire to emulate have strong convictions, as mentioned, but they do not rely on their desires. They insist on understanding what they can and cannot do so that they can improve, and they always focus on immediate actions. They do not leave for tomorrow what they can do today...

And something timely. They do not consider change due to technological developments to be something new. They know that change has been happening for at least the last 30,000 years. Is it technology that has been driving change for so many millennia, or is it the need for change that drives research into technology and its development?

Excellent companies believe in change, develop it slowly, internally, and always invest in real profits rather than bubbles. Ultimately, they let their results speak for themselves and do not make unnecessary noise.

In closing, excellent companies are "happy" and show it. They do not think about the possibility of failure. They know that the saying goes: you either win or you learn. They do not seek permanent profit. They know it does not exist. They take risks and "enjoy" the new things that lie ahead. They plan and run towards the future. Like small children, they ask everyone about everything. They know when to say YES and when to say NO.

The latter is the cornerstone of their success. They do not chase maximum profit, they only manage the risks they have to face...