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The Hedgehog Concept (Simplicity within the Three Circles)

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Questions

Question 1

According to Isaiah Berlin's essay referenced in the book, what is the fundamental difference between the fox and the hedgehog?

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Question 2

What are the three intersecting circles that form the basis of a Hedgehog Concept?

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Question 3

How did Walgreens' Hedgehog Concept differ from the approach of its comparison company, Eckerd?

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Question 4

What is the key distinction the book makes between a 'core competence' and being 'the best in the world at' something?

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Question 5

What was the single economic denominator that Walgreens identified to drive its economic engine?

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Question 6

How did Abbott Laboratories define its Hedgehog Concept after realizing it could not beat Merck in the big-stakes pharmaceutical game?

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Question 7

What is the purpose of the 'economic denominator' question: 'If you could pick one and only one ratio—profit per x—what x would have the greatest and most sustainable impact on your economic engine?'

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Question 8

What role does passion play in the Hedgehog Concept framework?

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Question 9

According to the book, what was the transition date for Fannie Mae's explosion upward, which occurred one year after it clarified its Hedgehog Concept?

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Question 10

What is the purpose of 'The Council' as described in the chapter?

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Question 11

Hasbro was the one comparison company that understood the three circles. What was its Hedgehog Concept?

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Question 12

What does the book mean by the phrase 'the curse of competence'?

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Question 13

In the case of Wells Fargo, what was the Hedgehog Concept that turned it from a mediocre Citicorp wanna-be into a great company?

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Question 14

What does the author say is the vital lesson from the Hasbro case?

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Question 15

What was the 'simple, crystalline concept' that guided Circuit City, as mentioned in the table on page 112?

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Question 16

Which of the following is NOT a characteristic of 'The Council'?

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Question 17

In the personal analogy for the Hedgehog Concept, what do the three circles represent for an individual's work life?

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Question 18

What happened to the good-to-great companies in the 'posthedgehog state'?

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Question 19

What was the economic denominator for Nucor?

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Question 20

How did Fannie Mae's people describe their passion, which formed the third circle of their Hedgehog Concept?

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Question 21

What was the key insight for Gillette that allowed it to define what it could be the best in the world at?

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Question 22

What is the relationship between the Hedgehog Concept and company strategy?

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Question 23

On average, how many years did it take for the good-to-great companies to clarify their Hedgehog Concepts?

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Question 24

What was the 'essential point' about 'Growth' that the Hedgehog Concept revealed?

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Question 25

How did Philip Morris demonstrate the 'passion' circle of its Hedgehog Concept?

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Question 26

What was the economic denominator for Kroger?

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Question 27

What did Walgreens do when a great corner location opened up just half a block away from a profitable existing store?

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Question 28

Which of the following best describes the good-to-great companies' approach to their Hedgehog Concept once it was discovered?

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Question 29

What was the economic denominator for Gillette?

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Question 30

What does the author conclude about the need to be in a great industry to produce great results?

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Question 31

What was the key insight for Kimberly-Clark regarding what it could be best in the world at?

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Question 32

Over two thirds of the comparison companies displayed what characteristic that the good-to-great companies did not?

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Question 33

What does the author identify as the 'triumph of understanding over bravado'?

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Question 34

What was the economic denominator insight for Pitney Bowes?

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Question 35

What does the author suggest is the likely outcome if a person pursues work for which they have passion and can get paid, but can never be the best in the world at?

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Question 36

What did Walgreens cluster nine of in a one-mile radius in downtown San Francisco?

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Question 37

What did Great Western's CEO tell analysts in 1985 that illustrated the company's lack of a Hedgehog Concept?

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Question 38

How is the process of getting a Hedgehog Concept described in the book?

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Question 39

What was the economic denominator for Abbott Laboratories?

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Question 40

What did the author's wife, Joanne, understand about her goal of winning the Ironman that exemplified a Hedgehog Concept?

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Question 41

What was the economic denominator for Fannie Mae?

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Question 42

Why did the good-to-great companies have a Hedgehog Concept while the comparison companies were more like foxes?

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Question 43

What was Kimberly-Clark's economic denominator insight?

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Question 44

When Eckerd acquired American Home Video Corporation in the early 1980s, it resulted in what financial outcome before the division was sold?

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Question 45

What does the book argue is the consequence of having a Hedgehog Concept for an organization's view on growth?

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Question 46

What was the economic denominator for Wells Fargo?

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Question 47

How did Gillette's choice to build sophisticated shaving systems instead of cheap disposables relate to the 'passion' circle?

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Question 48

What was the key insight regarding what Philip Morris could be best in the world at?

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Question 49

What is the danger of a company having a core competence but not a Hedgehog Concept?

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Question 50

How long did it take Sam Walton to grow from his first single dime store in 1945 to a chain of 38 Wal-Marts in 1970?

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