The subject of this edition’s Book Review is Small Giants – by Bo Burlingham.

Conventional business wisdom tells us that growth is good, but is unfettered growth the only option for successful businesses?

In Small Giants, Bo Burlingham tells the story of a group of highly successful companies that have chosen a different path.

Given the opportunity to go public, or sell to a become part of a larger corporate, these companies chose to remain in private hands.

Why did they make this choice, and what does it mean for their success?

With national or international reach, high turnovers, and up to 2000 staff, the small giants are not ‘small businesses’, but they all started out that way. They are companies that reflect the vision and values of their entrepreneurial founders while providing lifetime employment for their staff and creating deep connections with their communities.

This book helps us to understand some of the common features that have made these companies great and asks business owners and managers to reflect on possible alternatives to traditional growth strategies.

Key Concepts from Small Giants
Strategic Choice: there is more than one path
Decision Making: retaining private ownership retains control over decision making within the business
Engagement: successful small giants develop synergistic relationships with their communities
Business is personal: commitment to core values builds intimate connections with employees and customers
Strategic Alignment: a clear vision drives the way a great business operates, through its strategy and structure, to the systems and processes it uses and the way it treats its people
Succession planning: is difficult but important, and will be guided by the ultimate vision for the future of the company
Impact: great companies have great impact, in their communities and in the wider world.

Dr Monique Beedles

Monique is an independent consultant specialising in strategy and business design. She runs a monthly business book club in Brisbane.

www.teakyew.com