Built to Last: A must for everyone

I recently finished reading this book, Built to Last, which I would aptly tag as a textbook for Leadership 101. This book is a must read for every career-conscious person, at any level of organizational hierarchy. The best thing about this book is that every reader will be able to get something useful and meaningful out of it. Unlike other run-of-the-mill leadership books/material which just mention stories for motivation, this book is completely based on real concrete data. Rather it is presented in the form a thesis/dissertation after about six years of research. Before reading this book, I did believe in some of the myths which are shattered in the first chapter and then proved to be only myths. The conclusions are completely data-driven.

Choosing a set of companies as visionary companies on the basis of their overall past performance (not just financial) and an another comparison company, authors, Jim Collins and Jerry Porras, cite following as the fundamental elements of a visionary company:

1. Company itself is the ultimate creation, not the charismatic leaders.
2. It is driven by a core ideology (core values + purpose), not merely more profits.
3. Core ideology is preserved, but the process to practice and manage them is continuously evolving.
4. A company has to set BHAGs (Big, Hairy, Audacious Goals) to drive progress.
5. Company maintains a cult-like culture. This helps the employees to make a relationship with the company, which consequently results in dedication.
6. Do not hesitate to try a variety of things and then embrace the practices, which work and produce desired outcomes.
7. Process of grooming leaders internally never stops or even slows down.
8. Encourage internal competition and thus help in the overall growth of employees, thus the company.
9. Everything must be aligned properly. Be it the policies, practices or operations, they must fit in properly together and achieve the growth and BHAGs.
10. The vision matters.....a lot!!!