Good to Great by Jim Collins and colleagues (2001) is one of the most influential management books in the last decades. In this chapter, a critical analysis of the book is made using the framework developed in the book. This is made through an analysis of the fate of Circuit City, one of the heralded companies in Good to Great. The critique contains displaying methodological flaws and the one-sidedness in Good to Great where simple and timeless business models fanatically applied is seen as a general recipe for success. On the contrary, the fate of Circuit City demonstrates the need of developing a strong financial base, efficient operations, good stakeholder relations as well as the ability to alter existing business models and to develop new models.