Built to Last: Successful Habits of Visionary Companies by Jim Collins, Jerry Porras

What are the secrets behind the success of world-renowned organizations? After studying 11 such visionaries for five years, Jim Collins in his “Built to Last” shows readers the successful habits of these long-standing and innovative organizations.

Collins sought to answer the question “What makes the truly exceptional companies different from other companies?” He identifies some characteristics that these visionaries possess as an organization, but more importantly, he shows readers the leadership and culture individual workers had in making an organization last.

These successful habits that visionary companies had in common begin with the ability to craft a core ideology. Collins argues that these companies were able to make a great product, produce a management system, and develop sustainable growth all due to how they envisioned the goals of the organization. He provides insight into how their distinctive ideologies were created, citing examples of how their core ideas were formed by different people, even if they shared the same company. Each company had a core set of beliefs, often centered on social responsibility and an insistence of focusing on what they do best.

The idea of “preserve the core/stimulate progress” is another important concept Collins highlights in showing how visionaries achieved success. By understanding the fundamentals of their unique ideology and the overall aim for the organization, the leaders at these visionaries managed to remain true to the core of the company even as they took the risks to innovate. The authors explain that the companies managed to “lock in the pillars” by not sacrificing their identity. They achieved continual growth and progress by innovating but never lost sight of where they had come from.

Management practices play an important role in the success of visionary companies as well. Collins argues that visionary companies have demonstrated a commitment to practice disciplined people and thought, which separates them from a different set of aspirational companies who concentrate on short-term profits. Visionaries strategically assign talented people to different roles, permitting the organization to not only develop and change but most importantly manage the right people in the right position.

The power of inspired leadership is also integral to creating and sustaining success. Collins explains that the visionary companies had fiercely independent and confident leadership who were not only “entrepreneurs, inventors, scientists, philosophers, and artists” but most importantly, had the ability to get their team to aspire to great heights. Leaders at these companies had clarity of purpose and were, in turn, able to empower their teams and create a shared passion and respect towards the company they worked for.

Throughout the book, Collins explains that throughout their long-lasting success, these visionaries had to make difficult decisions, sometimes alienating their customers and even sacrificing short-term success for their long-term goals. The authors show readers that, though it sometimes takes unyielding commitment to the core, staying true to yourself and being passionate about your team will lead to great success.

In Built to Last, pioneers of successful companies give remarkable insight into the successful habits American organizations need to be a visionary business and ensure long-term success. Collins' book succinctly introduces readers to the common traits that brought success to the world's most successful organizations.