Built to Last audiobook cover - Successful Habits of Visionary Companies

Built to Last

Successful Habits of Visionary Companies

Jim Collins

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EntrepreneurshipManagement & Leadership

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Built to Last
Defining Visionary Companies+
Core Ideology (Preserve the Core)+
Relentless Progress (Stimulate Progress)+
Concrete Actions & Leadership+

Quiz — Test Your Understanding

Question 1 of 8
According to the text, what is a primary characteristic of a visionary company compared to an average company?
  • A. They rely on a single, highly charismatic founder to drive long-term success.
  • B. They focus on building an organization that constantly churns out great ideas rather than relying on one initial great idea.
  • C. They prioritize short-term profit margins to ensure long-term stability.
  • D. They are founded with a clear, specific product idea that disrupts the market.
Question 2 of 8
How do visionary companies generally view the pursuit of profits?
  • A. Profits are the ultimate goal and the foundation of their core ideology.
  • B. Profits are entirely ignored in favor of idealistic goals and social responsibility.
  • C. Profits are pursued pragmatically, but they are driven primarily by a higher purpose and core ideology.
  • D. Profits are only considered important when the company is facing a dire financial crisis.
Question 3 of 8
What does the concept of 'the genius of the AND' refer to in the context of visionary companies?
  • A. The ability to hire both internal and external CEOs to maintain diverse leadership.
  • B. The practice of simultaneously preserving a stable core ideology while relentlessly stimulating progress and change.
  • C. The strategy of merging with comparison companies to acquire both their market share and talent.
  • D. The requirement to choose between staying true to core values or adapting to new market trends.
Question 4 of 8
What is the primary purpose of a 'Big Hairy Audacious Goal' (BHAG) in a visionary company?
  • A. To guarantee short-term financial returns for shareholders.
  • B. To energize and focus the organization on a bold, tangible objective that drives progress.
  • C. To create a cult of personality around the current CEO.
  • D. To establish a rigid set of core values that will never change over time.
Question 5 of 8
Why are visionary organizations described as being 'almost cult-like'?
  • A. They are centered entirely around a charismatic, irreplaceable founder.
  • B. They isolate their employees from the outside world and forbid them from leaving.
  • C. They require such strict adherence to their core ideology that new recruits either fit in perfectly and thrive, or leave quickly.
  • D. They force their employees to adopt a specific religion or spiritual belief system.
Question 6 of 8
How do visionary companies typically handle leadership succession compared to comparison companies?
  • A. They frequently hire external CEOs to bring fresh, disruptive ideas to the company.
  • B. They avoid succession planning until the current CEO retires to prevent internal power struggles.
  • C. They heavily focus on internal management training and plan for succession well in advance to ensure continuity of the core ideology.
  • D. They allow the board of directors to randomly select a leader from a pool of industry experts.
Question 7 of 8
How do visionary companies approach failure in the pursuit of evolutionary progress?
  • A. They punish failed experiments severely to discourage wasting company resources.
  • B. They accept that failed experiments are a necessary price for evolution and do not punish them.
  • C. They only experiment with ideas that have been proven successful by their competitors.
  • D. They hide their failures from the public to maintain a flawless corporate image.
Question 8 of 8
Which of the following is an example from the text of a visionary company taking concrete action to implement its values, rather than just talking about them?
  • A. 3M allowing employees to spend 15 percent of their working time on pet projects to encourage innovation.
  • B. Ford executives fighting fires during a crisis without discussing the founder's values.
  • C. General Motors prioritizing shareholder returns above all other responsibilities.
  • D. Sony holding a brainstorming session to evaluate business ideas like sweetened bean-paste.

Built to Last — Full Chapter Overview

Built to Last Summary & Overview

Built to Last (1994) examines 18 extraordinary and venerable companies to discover what has made them prosper for decades, in some cases for nearly two centuries. This groundbreaking study reveals the simple but inspiring differences that set these visionary companies apart from their less successful competitors.

Built to Last is meant for every level of every organization, from CEOs to regular employees, and from Fortune 500 companies to start-ups and charitable foundations. The timeless advice uncovered in this book will help readers discover the importance of adhering to a core ideology while relentlessly stimulating progress.

Who Should Listen to Built to Last?

  • Anyone interested in how visionary companies have stayed successful for over a century
  • Anyone who wants to make their company, organization, department or team more purposeful
  • Anyone who wants to find tangible tools to drive progress, foster innovation or communicate values with their organization

About the Author: Jim Collins

Jim Collins is an American author, lecturer and consultant, who, among other things, has taught at the Stanford University Graduate School of Business and is a frequent contributor to Fortune, Business Week and Harvard Business Review. His other book, Good to Great, has sold over four million copies.

Jerry I. Porras is an academic and business analyst. He is the Lane Professor Emeritus of Organizational Behavior and Change at the Stanford University Graduate School of Business. His primary interest lies in finding methods for aligning companies with their core purpose and values. 

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