• Visionary Companies: The authors identify visionary companies as those that have stood the test of time (at least 50 years) and have consistently outperformed their competitors and the market. These companies have a sense of purpose and a long-term vision that goes beyond just making money.
  • Core Ideology: Visionary companies are guided by a core ideology, which consists of their core values and a sense of purpose that remains unchanged over time. This ideology provides a strong foundation and helps the company stay focused and true to its mission.
  • BHAG (Big Hairy Audacious Goal): Visionary companies set ambitious and inspiring long-term goals that push them to achieve greatness. A BHAG is a clear and compelling target that motivates and aligns the entire organization.
  • Cult-Like Cultures: Visionary companies build strong organizational cultures that are deeply ingrained and shape the behavior of their employees. These cultures often resemble a cult in the sense that they create a strong sense of identity and commitment among employees.
  • Embrace Change and Experimentation: Visionary companies are not afraid to adapt and evolve with changing times. They are willing to experiment and take risks to maintain their long-term vision while continuously improving and innovating.
  • Tyranny of the OR, Embrace the AND: Visionary companies reject the notion of making trade-offs between seemingly conflicting ideas. Instead, they find ways to embrace both sides of a dichotomy and create synergy between seemingly opposing forces.
  • Clock Building, Not Time Telling: Visionary leaders focus on building enduring institutions rather than just being charismatic individuals. They invest in creating strong organizational structures and grooming future leaders to ensure the company’s long-term success.
  • Preserve the Core and Stimulate Progress: Visionary companies maintain a consistent core ideology while embracing change and progress. They know what to preserve and what to change to stay relevant and successful over time.

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“Built to Last” is a comprehensive study of successful companies and the principles that have contributed to their longevity and success. The book provides valuable insights and lessons for business leaders, entrepreneurs, and anyone interested in understanding what makes companies truly exceptional and enduring in a constantly changing business landscape.

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