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Built to Last, Successful Habits of Visionary Companies (平装)
by Jim Collins, Jerry I. Porras
| Category:
Management, Leadership, Corporate excellence, Business |
| Market price: ¥ 198.00
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| MSL Pointer Review:
A ravishing look at current management practices, this book shows timeless principles that separate the great from the good. |
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AllReviews |
1 Total 1 pages 10 items |
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Kevin Maney, USA
<2006-12-20 00:00>
One of the most eye-opening business studies since In Search of Excellence. |
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Mathew Hunter , USA
<2006-12-20 00:00>
Built to Last by James C. Collins and Jerry I. Porras is an essential guide for any new or old organization looking to get started or revitalize its fundamental foundation and business practices. Assembled as a result of a six year long study examining eighteen remarkable and long-lasting companies in relation to each companies top "market" competitor, this book genuinely shows what distinguishes truly visionary companies from the rest. This books begins by briefly describing what visionary companies were chosen for the study and why. For those interested, visionary companies included organizations such as Wal-Mart, American Express, IBM, and Walt Disney, just to name a few.
According to Collins and Porras, a visionary company can neither be founded on a single great idea nor rely on an individual charismatic leader. Those in a visionary company must be willing and able to put the organization first in order not only to make an impact after the death of any individual leader but also to stand the test of time. Essential in any visionary company is a statement of what the company stands for and why it exists - its core ideology consisting of its core values and core purpose. For example, a company must exist for a number of reasons beyond just making money. Along with this statement of core ideology must come a plan for action, a plan to stimulate and drive progress in an organization toward an envisioned future. A key concept from this book is preserving the core of an organization while stimulating progress within that organization. Change in an organization is a constant with respect to everything but the organization's core ideology.
A visionary organization can stimulate progress in a number of ways from setting BHAGs or Big Hairy Audacious goals, to creating and promoting a cult-like culture within the organization, to trying a lot of stuff and keeping what works, and finally, to relying on homegrown management. In a visionary company, good enough never is, there is never an end to the movement for continual progress, and every member in the organization is a key player encouraged to take personal initiative. A visionary company is a great place to work if and only if you strongly agree and adhere to its values and purpose.
This book was not only insightful, but it provided the steps necessary for any organization to take strides toward becoming a visionary company. Although information at times was repetitive, it proved useful in hammering home key concepts crucial to understanding what makes a visionary company truly visionary. The book was an easy read, and the authors were quick to point out that this book is not the "ultimate truth" when it comes to understanding organizations. I would recommend this book to anyone. It is worth a read, and definitely worth the money! |
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Kent, USA
<2006-12-20 00:00>
As shared before, my review methodology is to give a book some time so I can accurately comment to the degree of which it impacted my life. In the case of "Built to Last," I am writing a review a full 3 years after completing this most excellent book.
I am not exaggerating, then, when I say that this is among a select group of the most powerfully influential business books I've read. There is something about the methodology, the way the conclusions are presented, that makes it stand out as an excellent read. The content is, as some would say, quite "sticky."
Take, for example, their selection criteria for what constitutes an "Visionary Company." The company had to be in business something like 60 years, so they can see how a culture had "outgrown" their genesis business model (think about that!!!). They had to be outstanding market leaders, so there is some tie to the bottom line, and so on. Personally, these metrics have become ingrained, such that I repeatedly find myself gauging where my organization is relative to these metrics.
Secondly, the book expands upon each attribute of a "visionary company," such as having "big hairy audacious goals (BHAG's)," or having what some call a "cult-like culture." Each section expands upon each with direct examples of how the identified companies espouse these attributes.
For example, there is much discussion on how firms such as Boeing is famous of undertaking aggressive projects (BHAG's), or how Nordstrom's culture is so powerful it's akin to oil and water (the right people just fit; the wrong people are self-ejected).
I have found it fascinating, however, to watch the featured companies since completing the book. HP, for example. Why in God's name would HP chose to get into the PC business? This barely appears to align with "The HP Way." And for a while it appeared that Boeing no longer attacked BHAG's when they rejected the notion of a super-sonic passenger airliner, although their involvement in the Joint Task Force Fighter project certainly appeared in-line with their culture.
Finally, I have noted many books whose authors were influenced by this book. Either the book itself was directly referenced, or the ideas were clearly gained from its reading. My recommendation: buy it and read it. I doubt you will ever forget it. |
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Ben Rossen, USA
<2006-12-20 00:00>
This is an inspiring book, and informative. It answers the "what" question convincingly. I missed answers to the "why" questions. Why, for example, are successful visionary companies characterized by their emphasis on ethical standards? There are many possible explanations: the staff of the company are inspired by the ideals and give more to their employer; the companies reap payoffs in the long term from grateful recipients of their honorable deeds; the companies acquire a good reputation which increases sales and hence profits. More interesting, is the question of the logic of ethics in the business game - not even touched by these authors.
According to Jim Collins and Jerry Porras, it does not matter what the company ideology is, as long as it is passionately believed by the management and employees. I find this a dubious claim, and not supported by the data. The ideological frameworks of the companies that were studied are not interchangeable, not for the trivial reason that the ideology of another company happens not to be the one believed by each of them. Boeing is unlikely to spend money on a program to cure river blindness in Africa. Why does Merck do this? Clearly, a pharmaceutical firm does well to invest in a reputation for medical generosity that flows from a passion for making people well? Merck is purchasing precisely the trust that pays-off in the medical market place. Trust reduces transaction costs, and in some cases is almost as good as a monopoly. Boeing, on the other hand, must buy a brand name attached to their dedication to engineering excellence. It does matter what companies are passionate about.
My company operates on the Internet. Our pledge includes the words: "The tragedy of the commons is the propensity of users to take more from the commons than they give. We undertake to contribute more to the commons than we take. Our presence shall make the Internet safer, more useful and greater fun." Why is this a suitable ideology for our company? The answer is not that this is one we happen to believe in, and feel passionate about - although we do. Rather, this ideology is strategically fitting. We enhance to our brand name, and therefore the value of our software, by adding our reputation to the web applications we write.
In one of our daughter businesses we are a broker of information from merchants to consumer (information about products that are available) and from consumer to merchant (we generate real time demand curves for a large range of commodities). We have pledged not to become a trader. Why? In ethical terms, we should not be a trader because our insider information would give rise to conflict of interest. The trust that we gain by not being a trader, and hence remaining a disinterested supplier of market information, enables us to broker agreements with reduced transaction costs between the parties on the Internet. The advantage is large. It is on the Internet commons that trust is scarce. We are able to purchase this by foregoing some potentially profitable trades, and that pays us more in the long term in our role as an information service provider.
Our ideology was designed to give us the greatest possible strategic advantage in our markets. That is not to say we do not believe in our ideals, but that the nature of our ideology is important. It does matter what we believe. It matters what you believe, and it matters that you understand that it matters.
I strongly recommend The Modern Firm by Roberts. Read this alongside Built to Last. Roberts is a harder read, but he gets under the logic of corporate dynamics better than Collins and Porras. Because Built to Last is characterized by an ubiquitous analytical paucity, Jim Collins and Jerry Porras's interpretations of their data are not always correct. That is a pity. Their findings are exciting, inspiring even, and the book despite its limitations is a good read. |
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Rudra, India
<2006-12-20 00:00>
A path breaking book that outlines how to build landmark companies that stand the test of time. Collins and Porras asked themselves a crucial question: 'What makes the truly exceptional companies different from the other companies?' - by answering which, the authors have gone beyond the incessant barrage of management buzzwords and newfound fads to discover timeless qualities that have and consistently will distinguish outstanding companies. They provide inspiration to entrepreneurs by destroying the false but widely accepted idea that only charismatic visionary leaders can build visionary companies. What is striking about this book is that though an academic treatise, it is superbly written and an exciting read. You could fall asleep on most thesis but this one kept me turning the pages despite being sleepy from a long day's work. I would recommend it to anyone who is serious not about making a quick buck, but about building a business that lasts. |
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Leo Walsh, USA
<2006-12-20 00:00>
Collins and Porras' basic observation in this book, where they compare the practices of visionary to those of a matched set of good, though not great, companies, is that average companies are driven by the power of "or:" You can have either short term profits OR long term growth, either stability OR progress. Visionary companies, on the contrary, embrace the power of "and:" You can preserve the core AND stimulate progress.
That said, the authors go on to describe how great companies build structures that embrace these often contradictory goals. The great companies Collins and Porras study, contrary to popular belief, are not profit focused at their core. Instead, they are `value' focused. These values are a sort of nucleus, around which leaders in visionary companies grow the company.
And that is not the only difference between visionary companies and the more average comparison companies. The visionary companies surveyed consistently produced leaders steeped in the company's ideology. These home grown leaders are the result of deliberate corporate design, an orientation to corporate structure that the authors call "clock building instead of time telling." In short, among the final products of visionary companies are competent leaders that carry on the core. And once developed, these leaders are then encouraged to experiment boldly, keeping only what works (i.e. what is effective and in alignment with the core).
A very entertaining book, it is among the best, easiest to follow guide to strategy imaginable. I also like the fact that it addresses not only macro level concerns, but also provides guidelines to help folks like me, stuck in middle management positions, apply these concepts. It is well written, the case studies compelling, and I like being able to follow the authors' research methods in the appendices. It is this thorough research which raises the book several notches above the now-classic In Search of Excellence. |
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Peter Amico, USA
<2006-12-20 00:00>
I thoroughly enjoyed this book by Jim Collins. You can tell how much research and effort went into both of his books (Good to Great and Built to Last). I could see the huge benefit of all the work he did to bring the ideas and concepts that most formed the visionary companies. The one thing that he kept saying was that the best companies preserved their core while at the same time stimulating progress. This was the key concept from the book that should be applied to any company that wants to succeed in the long-term. He also had a huge emphasis on creating mechanisms that align with the core and to fix misalignments. He said that this is easier to do when you are starting, but it can also be done with a long standing corporation. I think that his emphasis on action coming from the core values was really instructive.
Here were some quotes I found to be particularly instructive
- "The continuity of superb individuals atop visionary companies stems from the companies beings outstanding organizations, not the other way around."
Here Collins is saying that the great companies make great leaders because of their values and set up.
"Our research indicates that the authenticity of the ideology and the extent to which a company attains consistent alignment with the ideology counts more than the content of the ideology."
-This is a fascinating idea. It proposes that having the right vision isn't the important thing, but rather that living consistently with the vision is the key.
"Intentions are all fine and good, but it is the translation of those intentions into concrete items-mechanisms with teeth-that can make the difference between becoming a visionary company or forever remaining a wannabe."
-This is a key concept from the book; we must create mechanisms that encourage the core instead of deviating from it. Everything in the organization should be pointing to the core, and I mean everything. This is the same in the church. When your value is that mission is why the church exists then everything in the church should point to that value.
"Nordstrom is only a great place to work for those truly dedicated-and well suited to-the Nordstrom way."
-This should be true of our churches. If we have people who don't align with the core they should get weeded out quickly. This isn't a call for conformity except in dedication to the core.
"Visionary companies tend to be cult-like around their ideologies instead of around their leaders"
-This is huge for the church. I saw this problem at Mosaic with about half of the people buying into Erwin and half buying into the vision. However, this is very hard to do.
Examples of concrete mechanisms to reinforce the core p. 136
"It means getting the right actors on the stage, putting them in the right frame of mind, and then giving them the freedom to ad lib as they see fit. It means, in short, understanding that cult-like tightness around an ideology actually enables a company to turn people loose to experiment, change, adapt, and -above all-to act."
-This is the kind of company that I want to work for or to be leading. I want to hire the right people or be the right person with the freedom to be creative and innovative while being passionate about preserving the core.
"Visionary companies develop, promote, and carefully select managerial talent from inside the company to a greater degree than the comparison companies."
"Comfort is not he objective in a visionary company. Indeed, visionary companies install powerful mechanisms to create discomfort-to obliterate complacency-and thereby stimulate change and improvement before the external world demands it."
"What is the true meaning of the black belt?" "The black belt represents the beginning-the start of a never-ending journey of discipline, work and the pursuit of an ever-higher standard."
"The basic difference I see between the two companies is rhetoric versus reality."
"The real question to ask is not "Is this practice good?" but "Is this practice appropriate for us-does it fit with our ideology and ambitions?"
"It's not what you believe that sets you apart so much as that you believe in something, that you believe in it deeply, that you preserve it over time, and that you bring it to life with consistent alignment."
"Creating alignment, which is a key part of our ongoing work to help companies transform themselves into visionary companies, requires two key processes: 1) developing new alignments to preserve the core and stimulate progress, and 2) eliminating misalignments-those that drive the company away from the core ideology and those that impede progress toward the envisioned future."
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Alan Li, Hong Kong
<2006-12-20 00:00>
If you are an investor, this book is your best friend for you to understand the greatest companies in the world. It let you know how the great companies were formed, what their values were, how they became "great".
If you are interested in business history, this book is the best one to show you analysis of different companies, and each one has an alternative to compare.
If you are not the two mentioned above, you have to learn more about your world, in a business view. You use 3M, Ford, HP, Philip Morris, do you think of why you are using them but not others?
Most of the companies mentioned in the book are those you must hear before. You probably know Disney, so don't you want to know more about Disney? Don't you want to know about their management principles?
You can hardly find any other books comparable with this one. Scientific methodology is used to ensure the materials contained reflect the "truth". Serious findings can be showed as there are so much reference in the book. |
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An American reader, USA
<2006-12-20 00:00>
I'm an employee with a small educational business, and I've started reading more business related stuff to get some perspective on how I can help our business evolve. I recently read First, Break All of the Rules and I picked this book up as a follow-up to get a different vantage point on growing a business. This study, completed in the early 1990s, focuses on 18 historically visionary companies that have built stable core cultures that can serve as role models for any business.
I greatly appreciated the historical perspective that evaluated the companies from their early roots. 3M a failed mining company? Sony building heating pads? Realizing how far rock-solid brands like this have come helps me to have some hope that a persistent, grounded organization can adapt to changing conditions.
I also value the emphasis on core values and presenting how these companies translate those values into a pervasive attitude throughout the company. Wal-Mart and Nordstrom's are compared to "cult-like" organizations in a favorable way. Successful visionary companies not only have a vision, they find a way to attract employees who adhere to that vision and are able to "eject like a virus" any employees who don't match that vision.
This book, in contrast to many other business books I've read, relies heavily on thorough properly annotated sources. Even if you disagree with the author's conclusions you'll be pointed in the direction of some valuable published resources to assess companies like IBM and Merck for yourself.
My only concern with this book is the challenge of properly evaluating comparison companies and some of the visionary companies that look considerably less visionary in the present moment in time. The comparison companies are drawn from the time of the companies' founding. With companies like Boeing, this makes a lot of sense. With companies like Sony, this doesn't make as much sense to me. Sony has expanded into the music industry and technology industries successfully. I'd like to see how Sony's present comparison companies in industry compare on the visionary scale. Likewise, companies like Walt Disney thumped Columbia, which is now owned by Sony I believe. How does Walt Disney compare to some of its present competitors like Six Flags in the theme park arena or some of its competitors like Nicolodeon in the cable TV department?
The other criticism that some readers will have is that companies like Merck, IBM, and Wal-Mart may not look as visionary in the popular press as they are presented in this 1994-completed work. The authors do speak to that concern in a later chapter and I accept their arguments for looking at the companies over 100 years and saying that, like Ford, they have the potential to return to visionary ways.
This book was real insightful, and I strongly recommend it to those who like some rigorous research with their business strategy advice.
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Kanishka Sinha, USA
<2006-12-20 00:00>
This is a book that tries to uncover the common traits between companies considered visionary (companies that are regarded as being the standard bearers for the industry they compete in, that outperform the market and have been around for at least 50 years).
I think the sequel 'Good to Great' is better but this one is pretty instructive too.
The 12 myths it explodes are:
1. Visionary companies do not all start with a great idea. In fact great idea companies soon founder after the idea loses relevance. A company that is set up with processes that keep generating good ideas (a research lab that attracts the brightest talent for example) will over time outperform one set to capitalize on one “big thing.”
2. Visionary leaders and charismatic leaders are sometimes destructive for their companies in the long term since they lead to an over reliance on themselves and do not build successors who can take the company to the next level after them. Humble gritty guys are more likely to make the best CEOs
3. The best companies don't put shareholder returns as the prime objective. Although they think it's important they define their raison d' etre as for some greater cause - quality or innovation or pride or people or customers or product or whatever
4. Visionary companies do not all share the same set of shared common values. In fact some companies have completely opposite values from other companies and both can be equally successful. However whatever they value, great companies truly believe in it.
5. Great companies do not keep changing with the times. There are core features that they just do not change no matter what. At the same time on the superficial level they adjust and keep ahead of changing times.
6. Blue chip companies do not always play safe. The best companies have at some time stake the house on a bet. But it has been a calculated well though out approach to risk taking.
7. Visionary companies are not great places to work for everyone. If you believe in their values then it is but for others it is distinctly an uncomfortable place and many people who 'do not fit' hate it there and soon are ejected like a virus. Fit is vital.
8. Complex planning is not vital to building a great company. Instead quite often their strategies come from a 'let's try lots of stuff and keep what works' approach that is the opposite of analysis paralysis that plagues other companies.
9. The best CEOs are not those brought in from outside to reform a company. They are in fact the ones who have grown up from within the ranks who strongly believe in the company and have grown with it.
10. The most successful companies don't focus on beating the competition. They focus instead of focusing relentlessly on self improvement.
11. Great companies manage to make paradoxical things work together rather than chose one of them. for example they manage to give freedom of expression and yet have cult like conformity. Other companies try to go one route or the other or fail at trying to take the middle path.
12. Companies don't become visionary through visionary pronouncements and mission statements. Instead the entire tapestry fits seamlessly together and those mission statements and values are embodied in every facet of the organization.
Some pretty interesting stuff here.
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