Summary of Built to Last

"Built to Last: Successful Habits of Visionary Companies" is a business book written by Jim Collins and Jerry I. Porras. Published in 1994, it focuses on identifying the characteristics and strategies of companies that have endured and succeeded over time, often outperforming their competitors and maintaining a lasting presence in their industries. The authors conducted extensive research on visionary companies, comparing them with non-visionary counterparts. They examined a variety of factors including corporate culture, leadership, and operational practices. The key findings and themes of the book include: 1. **Core Ideology**: Successful companies have a strong sense of purpose and core values that guide their actions and decisions, which remain consistent over time. 2. **Preserve the Core/Stimulate Progress**: Visionary companies balance the preservation of their core principles with a willingness to change and innovate in response to market dynamics. 3. **Big Hairy Audacious Goals (BHAGs)**: These companies set bold, challenging goals that inspire and rally their employees, driving innovation and forward momentum. 4. **Cult-L like Culture**: They often foster a strong organizational culture that aligns with their core values, creating a sense of belonging and commitment among employees. 5. **Leadership and Management**: Effective leaders at these companies are often characterized by their humility, commitment to their vision, and ability to empower others. 6. **Long-term focus**: Visionary companies prioritize long-term sustainability and performance over short-term gains. The book emphasizes that while change is necessary for growth, a strong foundation rooted in core values is essential for enduring success. "Built to Last" serves as both a guide for business leaders and a framework for understanding what makes companies thrive over decades.