Truth, luck and understanding.
Deloitte Consulting published an interesting study that was reported on in the April issue of the Harvard Business Review in an article titled “Are ‘Great’ Companies Just Lucky?” The report and more widely available coverage must have had business success book authors everywhere feeling momentary panic to think that their lists and insights may have no measurable bearing on improving performance.
The study found that only one in four of the companies identified as major success stories actually qualified as having achieved remarkable performance and that the rest were just lucky due to being able to take advantage of circumstances.
The moral of the story, so to speak, is that success stories can be valuable when used as a source for what the HBR calls “inspiration and fuel for introspection.” Put another way, it’s what you take from them that matters. That sounds obvious - but maybe it’s not.
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For those who like lists.
