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A company’s performance and success is often been measured either in terms of their value in the stock market or product performance or customer service provided. Though all these factors are important in determining the success rate of the firms, research and analysis have proved that excellent companies have certain specific attributes instilled in their structure which has been and is the reason for them to outperform other industries. However, success is not limited to attaining a certain level of excellence, long term superiority is required to achieve greatness. Sustained excellence paves the path for a good company to eventually become a great one. Two books, “In Search of Excellence “, by Tom Peters of the 20th century era and “ Good To Great”, by Jim Collins of the 21st century highlight some of the important attributes and strategies used by a selected few companies to achieve excellence and eventually greatness.

In Search of Excellence:
One of the interesting aspects of this book is the McKinsey’s 7-S concept which is a tool for managers to handle businesses considered irrational or intractable. Few of the other attributes which are relevant also in the 21st century include:
1) Excellent customer service: The companies like: IBM, Wal-Mart really care about their product and service provided thus in turn aim at providing exceptional service, quality and reliability to their customers. They listen, take surveys, improvise and learn from them.

2) People, the most important asset: Every employee is given the autonomy to contribute ideas and the freedom to speak out. Rewards for work, creating comfortable work environments and motivational techniques are used to imbibe positive attitude and enthusiasm in the work force.
3) Cultured Environment: Cultured environment refers to a set of disciplined people who act keeping in mind the basic philosophy of the company. Companies like: PepsiCo realize that their productivity and innovation is dependent on the people. They have a certain set of values and strong beliefs like: to believe in the best, importance of execution and importance of informal communication which aims at inspiring employees.
4) Communication within the organization: Informal communication is encouraged in the offices. Decentralization is encouraged to improve decision making and every care is taken so that there is free flow of information within the offices.
5) Flexibility: With the changing scenario in the market or when a new manager is appointed the companies also adapt to the change.

Significance of Good to Great- Relevance and Contrasts:
Jim Collins and his research team have built a framework called the “Fly Wheel” loop which comprises of the basic concepts: Disciplined people have disciplined thought which lead to disciplined action. Few of the companies which worked with this framework include: Abbot, Circuit City, Kroger and Kimberly Clark and each of them had, over a fifteen year span, outperformed their competitors and sustained over the time period.
Relevance: All the companies believe in unparallel customer service, importance of employees, disciplined culture and to confront reality however brutal.
Contrasts: Great companies believe that it is not just people, but the right people who are the most important asset, (stated by Nucor, Good to Great, Pg 51). The right people are self disciplined and have specific traits, educational background and knowledge for the required job. Another contrast is related to the company remaining in its core business. The company’s allied businesses may not always be the right one for the company. The Hedgehog concept, provides a set of questions to help’s understand “what the organization can be best at”. Also, in contrast to the moral leadership as mentioned by Peter’s, the great companies are headed by a level 5 leader who are diligent, have a passion for their work and are a characteristic blend of personal humility and professional will combined together.
Relevance to Management Consulting
When we focus on the field of Management Consulting, it requires day to day meetings with clients and problem solving capabilities to provide effective and efficient solutions. Thus this job profile requires: level 5 leadership qualities: to be work driven, motivating and an effective communicator, apply the Hedgehog concept to understand the true nature of the client’s company, confront issues and difficulties yet remaining unwavered and persuasive, adapting a flexible approach and also to apply the “First Who.. Then What” technique, since it is critical to have the right people with the right background on the job.