Entrepreneurship

What tactics and mindsets do visionary companies employ to constantly improve? What can you apply to your own organization to keep it moving forward? Visionary companies never settle for “good enough.” Refusing to drift into complacency, they proactively seed discontent to push their employees to aim even higher. To achieve constant improvement, they also exercise long-term thinking and investments. Continue reading to learn how visionary companies constantly improve.

Does your company have a management succession plan? How do visionary companies ensure the continuity of excellent leadership? Regardless of the size of your company, you need a management succession plan. To avoid leadership gaps, visionary companies have a leadership continuity loop. You, too, can create and maintain a cycle of excellent leadership for your organization by understanding how visionary companies identify, train, and promote top managerial talent. Read more to learn about visionary management succession.

How can you cultivate a growth culture in your organization? How do you give your employees the wings to fly? A visionary company fosters a growth culture by ensuring that employees support the company’s core philosophy—and then setting them free. This autonomy allows employees to experiment, act boldly, make mistakes, and innovate. All of this pushes the company forward. Read more to learn how to cultivate a growth culture in your organization.

What are some BHAG examples? How have visionary leaders succeeded by committing to these goals? Researchers Jim Collins and Jerry I. Porras found that visionary companies set and achieve Big Hairy Audacious Goals (BHAGs). They share three steps to creating your own BHAGs and four ways to make sure they succeed. They also provide several BHAG examples for instruction and inspiration. Keep reading to see several BHAG examples and to learn how to implement your own.

How can your company grow while remaining true to itself? What’s a corporate growth strategy that allows your company to progress without changing its values and purpose? Visionary companies grow while staying true to what they’re all about. They have a corporate growth strategy that preserves the core while stimulating progress. You, too, can achieve this when you believe in the power of “and”—and when you understand the difference between your core company philosophy and your non-core company practices. Keep reading to learn more about this corporate growth strategy.

Does your business have a company philosophy? What difference does it make? Visionary companies are guided by their company philosophy. More than mere words, this blend of their core values and their purpose keeps them focused as it drives them forward. If you want to build a business that lasts, your business needs a core philosophy. Read more to learn the importance of a company philosophy and how to establish one for your business.

What qualifies as a visionary company? What are the truths and myths about companies that endure? In Built to Last, bestselling author Jim Collins and Stanford professor Jerry I. Porras embarked on a six-year research project to 1) identify the characteristics that distinguished the very best companies, and 2) use these insights to create a framework for those who want to build a visionary company of their own. To this end, the authors identified and analyzed 18 visionary companies that performed exceptionally well over a long period of time.  Read more to learn about the qualities of a visionary company.