In Search of Excellence: Lessons from Americas Best Run Companies, by Tom Peters and Robert Waterman (ISBN 0446385077)

A little bit on the dry side, but well worth it if you have the time. I read this one a while back and had to flip through it again to refresh my memory... and I'm glad I did. Consider this book to be the Consumer Reports/JD Power for companies back in the early 80's. It is still studied at some business schools.

The premise.

In 1982 Tom Peters and Robert Waterman released a study of 43 firms that had been rated excellent by passing a series of "business tests" they had devised. They concluded in In Search of Excellence that there were 8 keys to excellence that were shared by all 43 firms.

The 8 Keys to Excellence:

1. A bias for action
Do it. Try it. Don’t waste time studying it with multiple reports and committees.

2. Customer focus
Get close to the customer. Know your customer.

3. Entrepreneurship
Even big companies act and think small by giving people the authority to take initiatives.

4. Productivity through people
Treat your people with respect and they will reward you with productivity.

5. Value oriented CEOs
The CEO should actively propagate corporate values throughout the organization.

6. Stick to the knitting
Do what you know well.

7. Keep things simple and lean
Complexity encourages waste and confusion.

8. Simultaneously centralized and decentralized
Have tight centralized control while also allowing maximum individual autonomy.

All managers / directors / CEO CTO CFO's should re-read this one.