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Final

COMM 210 Study Guide - Final Guide: Mount EverestPremium

2 pages92 viewsFall 2015

Department
Commerce
Course Code
COMM 210
Professor
Karim Boulos
Study Guide
Final

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James C. Collins and Jerry I. Porras: Building your Company’s Vision
“Companies that enjoy enduring success have core values and a core purpose that remain fixed while
their business strategies and practices endlessly adapt to a changing world”
Core ideology: Enduring character; glue that holds the organization together as it grows,
decentralizes and expands globally. Captures what you stand for and why you exist. (Consists of
core values & core purpose). Core ideology is a consistent identity that transcends product or
market life cycles, technological breakthroughs, management fads and individual leaders.
Core values: Beliefs about what is important in the long-term. Timeless guiding principles, rarely
if ever change. Intrinsic values inside the organization, excludes anything external. A company
should never change its core values; they must always remain true to them.
Core purpose: Inspiration for people who work there. It is not just about making profits, it’s
about finding a reason why you come in to work every day and produce. It is the reason why
people enjoy innovating and not just working for a paycheck. Reflects people’s idealistic
motivation for doing the company’s work. Why are we here? A group of people get together so
they are capable to accomplish something collectively that they could not accomplish separately.
Discovering your Core Ideology:
Must be authentic.
Must be meaningful and inspirational only to the people inside.
Once established, everything else that is not part of the core ideology should change and
adapt to market changes.
Core ideology should not change in response to market changes.
Getting people to share the core ideology.
- Sony’s ideology: We shall welcome technical difficulties and focus on highly sophisticated
technical products that have great usefulness for society regardless of the quantity involves: we
shall place our main emphasis on ability, performance, and personal character so that each
individual can show the best ability and skill.
** Don’t confuse core ideology with the concept of core competence. Core competence is a
strategic concept that defines your organization’s capabilities- what you are particularly good at-
whereas core ideology captures what you stand for and why you exist.
Envisioned future: BHAGs (big hairy audacious goal)
Audacious, vivid goals stimulate progress
10 to 30 year audacious goal plus vivid descriptions of what it would be like to achieve the
goal.
Spur passion & team spirit
Inventing such a goal forces and executive team to be visionary rather than strategic or tactical.
Difficult but not impossible to achieve
Companies need to build a strong organization with people capable of achieving the goals
Avoid the “We have arrived” syndrome which is an organization who achieved their BHAG but
failed to replace it with another.
•Vision Level
- Companies often use a bold mission called BHAG
- There’s a difference with having a goal and setting yourself a huge challenge like climbing
Mount Everest
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