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building your company's vison

Hewlett-packard. 3M. Sony. Companies with exceptionally durable visions that are “built to last.” What distinguishes their visions from most others, those empty muddles that get revised with every passing business fad, but never prompt anything more than a yawn? Enduring companies have clear plans for how | HDD rlDn FROM THE HARVARD BUSINESS REVIEW OnPoint ARTICLE An enduring corporate vision guides you through change. It also spells out what will never change. Building Your Company s Vision by James C. Collins and Jerry I. Porras New sections to guide you through the article The Idea in Brief The Idea at Work Exploring Further. PRODUCT NUMBER 410X THE IDEA IN BRIEF Building Your Company s Vision Hewlett-Packard . 3M. Sony. Companies with exceptionally durable visions that are built to last. What distinguishes their visions from most others those empty muddles that get revised with every passing business fad but never prompt anything more than a yawn Enduring companies have clear plans for how they will advance into an uncertain future. But they are equally clear about how they will remain steadfast about the values and purposes they will always stand for. This Harvard Business Review article describes the two components of any lasting vision core ideology and an envisioned future. THE IDEA AT WORK A company s practices and strategies should change continually its core ideology should not. Core ideology defines a company s timeless character. It s the glue that holds the enterprise together even when everything else is up for grabs. Core ideology is something you discover by looking inside. It s not something you can invent much less fake. A core ideology has two parts 1. Core values are the handful of guiding principles by which a company navigates. They require no external justification. For example Disney s core values of imagination and wholesomeness stem from the founder s belief that these should be nurtured for their own sake not merely to capitalize on a business opportunity. Instead of changing its core values a great company will change its markets seek out different customers in order to remain true to its core values. 2. Core purpose is an organization s most fundamental reason for being. It should not be confused with the company s current product lines .