Built to Last Summary

Summary of Built to Last Book by Jim Collins, Jerry I. Porras

Name: Built to Last
Rating: 4.7 (1922 reviews)
Author: Jim Collins, Jerry I. Porras

4.7 . 1922 reviews

Short summary

Built to last reveals the secret of great companies — understanding the importance of timeless core values and having a purpose beyond just making money. It also shows steps visionary leaders put in place to ensure their companies outlive them. Jim Collins started his research and teaching career at Stanford Graduate School of Business in 1988 and founded a management laboratory in Boulder, Colorado. This American author, researcher, speaker, and consultant was selected as one of the 100 Greatest Living Business Minds in 2017. Jerry Porras is an American author and organizational theorist. From 1991 to1994, he became a professor at its Graduate School of Business and served as Associate Dean. He retired in 2001 and was appointed Lane Professor Emeritus of Organizational Behavior and Change. “Visionary companies make some of their best moves by experimentation, trial and error, opportunism, and — quite literally — accident.” ~ Jim Collins and Jerry I. Porras

13 min

7 key points

6 insights

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Table of content

Summary of Built to Last
About the author
What is Built to Last about?
Who should read Built to Last
Topics in Built to Last

first key point

To achieve your goals, you must see challenges as normal

Listen the first key point

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Jim Collins and Jerry Porras embarked on a six-year research project to identify and study the historical development of some visionary companies, after which they discovered the factors contributing to their extraordinary long-term position. They also examined how these companies vary from a carefully selected control group of comparison companies and found that, although these companies were the best in their institutions, they still had certain imperfections. Most of them have experienced setbacks once or multiple times in history. For example, in the early 1980s, Ford reported up to $3.3 billion in annual losses, and Walt Disney had to go public when it experienced a severe cash flow crisis in 1939. Also, Boeing had huge challenges in the 1930s, 1940s, and 1970s, which led to the company laying off more than 60,000 employees. One key thing was that these visionary companies were very resilient and could bounce back from adversity despite all these challenges.

To be successful in life, you need to learn not to give up in the face of difficulty.

This summary will acquaint you with widely held myths about visionary companies. You will also gain a handle on lessons that you can apply in your organization.

We chose the term “visionary” companies, rather than just “successful” or “enduring” companies, to reflect the fact that they have distinguished themselves as a very special and elite breed of institutions. ~ Jim Collins and Jerry I. Porras

second key point

Visionary companies focus on clock building and not time telling because they desire an institution that will outlive them

Visionary companies are leading institutions known for making a significant impact on the world around them. Unfortunately, even visionary leaders, great ideas, and markets can become obsolete and disappear. Yet, visionary companies prosper over long periods, through numerous product life cycles, and several generations of active leaders.

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third key point

Don’t become satisfied with the status quo, even when things are working well at present

fourth key point

Having big goals and a healthy work relationship are crucial methods of stimulating progress in any organization

fifth key point

The success of most visionary companies is that they try a lot of stuff and keep what works

sixth key point

Sometimes, it’s easier to look within your organization for the best talent to fill managerial positions

seventh key point

Conclusion

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What is Built to Last about?

"Built to Last" explores the common traits and practices of enduring and successful companies that have stood the test of time. Through extensive research and case studies, the authors uncover the fundamental principles and habits that visionary companies employ to thrive in a rapidly changing business landscape. This insightful book offers valuable lessons and practical strategies for aspiring entrepreneurs and leaders looking to build organizations that can withstand the challenges of the future.

Who should read Built to Last

Aspiring entrepreneurs seeking insights into the long-term success of visionary companies.
Business leaders looking to understand the habits and strategies of enduring organizations.
Students of business and management interested in studying the principles of sustainable business growth.

Topics in Built to Last

Business Management Leadership Success Entrepreneurship Organizational Behavior Corporate Culture Strategy Innovation Company Culture Management Corporate Governance Business Strategy

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