Visionary Defined
Collins and Porras listed a total of eighteen companies they identified as ‘visionary.’ They defined a visionary company as one that is a premier institution in its industry, is widely admired by knowledgeable businesspeople, made an imprint on the world, had multiple generations of Chief executive officers (CEOs), had multiple product/service life cycles, and was founded before 1950. The list of visionary companies was determined based on the results of a survey of 1,000 CEOs. The authors ensured representation across all industries and various sized organizations by sampling from Fortune 500 industrial companies, Fortune 500 service companies, Inc. 500 private companies and Inc. 100 public companies. The survey yielded a 23% response rate with 3.2 companies listed per response. An important caveat the authors express is the fact that through their research, they can claim a correlation, not a causal link between their findings and the success of companies.
Read more about this topic: Built To Last: Successful Habits Of Visionary Companies
Famous quotes containing the words visionary and/or defined:
“The American doctrinaire is the converse of the American demagogue, and, in this way, is scarcely less injurious to the public. The first deals in poetry, the last in cant. He is as much a visionary on one side, as the extreme theoretical democrat is a visionary on the other.”
—James Fenimore Cooper (1789–1851)
“The depth and strength of a human character are defined by its moral reserves. People reveal themselves completely only when they are thrown out of the customary conditions of their life, for only then do they have to fall back on their reserves.”
—Leon Trotsky (1879–1940)