Wednesday, June 15, 2011
Best Business Books #3--Built to Last
Built to Last by Jim Collins and Jerry Porras (Harper Business, 2004) was the sequel to Collins’ blockbuster Good to Great. While lesser known than its predecessor publication, Built to Last drives home an essential tenet—that values matter a lot. The basic premise of the book (a compilation of analysis of 18 companies that outperformed the stock market by a factor of 12 since 1925) is that great and enduring companies have solid “core values” that do not change. However, while core values and purpose don’t change, business strategies and practices adapt constantly to a dynamic world. Collins and Porras would argue that any vision must consist of core values (clear guiding principles) and core purpose (mission—the company’s most fundamental reason for existence).