Wal-Mart These companies have taken leadership roles in their industries, offering innovative products and services and consistently outsmarting rivals. What made the research particularly useful and interesting is that Collins and Porras compared and contrasted these visionary companies with a control set of rivals. For instance, Boeing was compared and contrasted with Douglas AircraftMarriott was compared and contrasted with Howard Johnson'sand Merck was compared and contrasted with Pfizer. The findings are based on what the visionary companies do that is different than close competitors who have achieved a high level of success, but not to the extent of the visionary companies.
With these lists in hand, the authors identify common threads present in the "visionary" companies and absent from the comparison group. This methodology is far from scientific and can be a bit distracting, to be honestbut the book does identify some interesting features of these companies.
One of the main features, highlighted in the third chapter of the book, is the presence of a core ideology within the "visionary" companies that was given equal, or often stronger footing than increasing profitability or company value.
The exact specifics of the core ideology varied widely between the companies many focused on the experience for the customer, while others focused on creativity and innovation, and still others focused on the environment for employeesbut the authors argue that the presence and adherence to an ideology was more important than the ideology itself.
Differentiation One of the key pragmatic benefits to a core ideology can be a way to differentiate your company from your competitors. Everyone is presumably trying to make money and grow their company, so core principles provide an additional marker of what makes you unique.
It can furthermore help to carve out a niche without even intending to, as a fair number of consumers may share your values and thus be more interested in your product either out of idealism, or because a common vision leads to a better fit of a product.
I think this is probably one of the main benefits of a generic adherence to an ideology absent any ideologic specifics for large companies, such as the "visionary" ones from the study. Planning and optimization The final point and one that is even more speculative than the previous two I want to consider is that the presence of a core ideology provides an alternative path to growing and improving your company.
While it may seem counter-intuitive and possibly incorrectI think core values are often easier to plot a course towards than things like long term growth in company valuation or profitability. In theory, if a set of core principles is likely to lead to profitability, they may easier to plan for and adhere to.
Tyler and I kind of stumbled across ours inadvertently when starting Less Annoying Software and decided to put it right in our company name. That said, our focus on keeping our software as un-annoying as possible and keying on user experience really has been a benefit in helping to guide many of our decisions.For the last few chapters, I read the first few pages and then went back to the chapter's "Take Away" section and still got everything I wanted out of the book.
If an abridged version comes out, look into getting that one instead/5(). I've recently been reading a book called Built to Last about the properties and behavior of successful companies. The basic premise of the book rests on a research project performed by a couple of Stanford business school profs in the early 90s in which they identified a series of "visionary" companies (including HP, Sony, Merck, Disney, .
Jim Collins is the co-author of Built to Last: Successful Habits of Visionary Companies and has authored three other books along with a slew of articles featured in Fortune Magazine, Business Week, and the Wall Street Journal.
He is a professor at the Stanford Graduate School of Business and the founder of a management laboratory in Colorado where he . Chapter Summaries Children of the Sea: 1) Two narrators in which they do not say their names in the book are in love and write to each other.
2) The female narrator in the book is mad because his father opposes her love for the man. The Last of the Mohicans Chapter 13 Summary James Fenimore Cooper.
Hawkeye hopes they will also find a roughly built lodge in which he and a group of Mohicans (that had included Chingachgook. Built To Last Summary December 29, November 3, niklasgoeke Entrepreneurship & Business 1-Sentence-Summary: Built To Last examines what lies behind the extraordinary success of 18 visionary companies and which principles and ideas they’ve used to thrive for a century.