What is the hedgehog strategy?
The hedgehog strategy focuses on how simplicity can yield great success. The hedgehog strategy helps to focus on three critical aspects: vision, talent, and economic advantage. Understanding these three concepts and where they overlap can help you identify critical things that will guide your organization to success.
What's your hedgehog concept?
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 Amazon's hedgehog concept?
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.
Are you a fox or a hedgehog summary?
The general gist of the line is this: Some people see the details in everything they do, like the fox, while others are great at having one singular vision, like the hedgehog.
What is hedgehog concept in leadership?
When an organization has identified its Hedgehog Concept, its leaders should devote all of their energy and resources to pursuing it. Collins argues that when the going gets tough, it's the organizations that focus on what they're good at that survive and thrive.
What is hedgehog syndrome in project management?
“Hedgehog syndrome” The hedgehog syndrome refers to the inability of project contributors (i.e. hedgehogs) to learn from experiences (i.e. encountering cars while crossing the rode) and utilize their knowledge in a beneficial, for the upcoming project, phase.
What is the one big thing the hedgehog knows?
'The fox knows many things, but the hedgehog knows one big thing. ' This line has sometimes been taken to suggest that hedgehogs are superior to foxes, because their singular defensive skill trumps the many and various wiles of the fox. Foxes can run and dart and hide and pounce.
What is a Level 5 Leadership?
Level 5 leaders understand the importance of putting people first and strategy second. This means finding the right people for the organization, getting rid of the wrong ones, and putting employees in the appropriate positions, all before addressing business tactics.
How is the hedgehog concept different for a nonprofit organization?
The Hedgehog Concept helps both board and staff stay focused on not only what they want to do, but also what has the greatest chance of success. That helps them allocate resources accordingly.
What is the meaning of the fox and the hedgehog?
13 hours agoRenee Klahr. 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.
How is the hedgehog concept different for a nonprofit organization?
The Hedgehog Concept helps both board and staff stay focused on not only what they want to do, but also what has the greatest chance of success. That helps them allocate resources accordingly.
What is the flywheel concept?
What is the Flywheel Concept? A flywheel is a mechanical device specifically designed to store rotational energy efficiently. A flywheel resist changes in rotational speed by their moment of inertia. The amount of energy stored in a flywheel is proportional to the square of its rotational speed and its mass.
What is the one big thing the hedgehog knows?
'The fox knows many things, but the hedgehog knows one big thing. ' This line has sometimes been taken to suggest that hedgehogs are superior to foxes, because their singular defensive skill trumps the many and various wiles of the fox. Foxes can run and dart and hide and pounce.
What drives your economic engine example?
Revenue per product line An example is a chemical specialty manufacturing company wanting to grow by adding new product lines, and new markets for its existing product lines. These are examples of key revenue ratios that can be used to drive economic engines.
What is a hedgehog concept?
More precisely, a Hedgehog Concept is a simple, crystalline concept that flows from deep understanding about the intersection of the following three circles : What you can be the best in the world at (and , equally important, what you cannot be the best in the world at).
How to develop a hedgehog concept?
To have a fully developed Hedgehog Concept, you need all three circles. If you make a lot of money doing things at which you could never be the best, you'll only build a successful company, not a great one. If you become the best at something, you'll never remain on top if you don't have intrinsic passion for what you are doing. Finally, you can be passionate all you want, but if you can't be the best at it or it doesn't make economic sense, then you might have a lot of fun, but you won't produce great results.
Who was the genius behind the hedgehog idea?
Reichardt kept people relentlessly focused on the simple hedgehog idea, continually reminding them that “there’s more money to be made in Modesto than Tokyo.”. Those who worked with Reichardt marveled at his genius for simplicity.
What is the Hedgehog Concept?
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. Focusing on the thing that a company does well is the best method of achieving the objectives of that activity.
Who said "The Hedgehog and the Fox"?
This idea was expanded upon by Isaiah Berlin, a philosopher, in his 1953 essay, "The Hedgehog and the Fox." Berlins essay divide individuals into foxes and hedgehogs. People who pursue too many diverse goals and interests accomplish little. Those who focus on accomplishing one thing are generally more likely to do so.
What is the meaning of the parable "The Fox knows many things but the hedgehog knows one big thing"?
The concept originates from an old Greek parable, "The fox knows many things, but the hedgehog knows one big thing." Basically, the fox is a smart predator that can gain a meal by any number of methods.
How many ways does a hedgehog survive a fox attack?
The hedgehog knows just one method of surviving a Foxs attack. While the fox has numerous abilities, the hedgehog only has one. When the fox attacks the hedgehog, the hedgehog is always successful in defending itself no matter what the fox tries.
What is the Hedgehog Concept?
It is a simple, crystelline concept that is concerned with the understanding of the intersection of three circles.
How to improve after identifying the hedgehog concept?
After identifying the Hedgehog Concept, organisations can start improving by focusing on what they’re best at. This is the preferred route instead of trying to find alternative strategies.
How many circles are there in the hedgehog concept?
Three circles within the Hedgehog Concept. According to Collins, the Hedgehog Concept consists of understanding three circles that each start with a question.
How long does it take to fine tune the hedgehog concept?
That enables companies to beat their competitors and grow to become successful business. According to Collins it takes an average of about four years to fine-tune the Hedgehog Concept within an organisation. The Hedgehog Concept is based on an ancient Greek parable about the hedgehog and the fox.
How does the hedgehog defend itself?
The hedgehog can only do one thing and does it perfectly; it defends itself by curling up into a ball and raise its spines. Collins applies the parable to companies. The people who start large companies and make them successful can be compared to hedgehogs. They focus on one thing.
Can a fox catch a hedgehog?
The fox can do many things at once; it's aware of its environment, it's wily, can assess from a distance and comes up with different strategies to catch its prey, the hedgehog. It always ends with the fox being thwarted, having to retreat with its nose full of the hedgehog's spines.
What is the Hedgehog Concept?
The Hedgehog concept comes from Isaiah Berlin’s renowned 1953 essay, “ The Hedgehog and the Fox .” In the essay, Berlin divides the world into the fox and hedgehog archetypes. The concept comes from the Greek phrase, “The fox knows many things, but the hedgehog knows one big thing”.
What does the fox know about hedgehogs?
The concept comes from the Greek phrase, “The fox knows many things, but the hedgehog knows one big thing”. A fox may find different ways to pounce on a hedgehog, but the hedgehog only has to do one thing i.e. roll up into a ball of spikes. Despite the fox’s efforts - the hedgehog always wins.
What is the difference between a hedgehog and a fox?
Meanwhile, the hedgehog embraces simplicity and has a basic principle to follow, a unified guiding goal.
What does the X in the cash cow mean?
The ‘X’ represents the single highest contributing factor to your company’s sustainability.
Who came up with the idea of hedgehogs?
Business researcher Jim Collins came up with this idea in his 2001 book, “ Good to Great .”. According to him, organizations that can deduce what they’re best at, are more likely to succeed - giving birth to the hedgehog concept in business.
Do hedgehogs have complexity?
This doesn’t mean that the hedgehog lacks the intellectual capability for complexity. On the contrary, it means hedgehogs have simplified the complex and often dynamic art of escaping a cunning predator, into a single act. The same concept can be, and is, adopted by organizations.
Why is it called the Hedgehog Concept?
The hedgehog concept is based on an ancient Greek parable that states;
What is the goal of a hedgehog?
Hedgehogs on the other hand have one goal – to survive . Hedgehogs are small and slow, which would make them easy prey if it were not for the one big thing that they do better than any other animal. Hedgehogs have a very good defense, a shield of prickly spines that is their one big thing. If the hedgehog is attacked or frightened by a fox or any other predator, the hedgehog curls into a prickly and unappetizing ball. For the hedgehog, it is a matter of eating, sleeping, and having only one effective defensive tool, its spines.
What are some examples of grocery chains?
Example: Let’s compare the grocery chains Kroger and A&P. Both grocery chains bumped along as totally average performers in the grocery store industry for decades. Both A&P and Kroger had access to the same resources and saw that the American consumer was changing. The old grocery store business model was slowly becoming extinct. While A&P lurched from one faddish strategy to the next, like the fox, looking for a quick fix, Kroger made one bold and sweeping decision based on what their customer research uncovered and what it knew they could do better than anyone else in their industry.
What is Kroger's combination store?
Kroger adopted the concept of what is now known as the combination store. Rather than sell just groceries, Kroger shifted focus and offered customers the advantage of one-stop shopping. Kroger expanded its store footprint and offered customers a wide selection of consumables in addition to groceries. They added products related to health care, general merchandise, as well as pet care offerings. They added departments such as a pharmacy, a florist, a bakery and partnered with businesses to add a fuel center and a bank. While Kroger’s single focus on being a one-stop combination store made it the best of breed, A&P fell further behind and eventually filed for Chapter 11 bankruptcy. Kroger ultimately outperformed the market by 10 times and its combination store concept has become the industry standard.
