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Building a Visionary Company

James C. Collins Jerry I. Porras

Above all, there was the ability to build and build and build—never stopping, never looking back, never finishing—the institution.... In the last analysis, Walt Disney's greatest aeation was Walt Disney [the company]. —Richard Schickel, The Disney Version' I have concentrated all along on building the finest retailing company that we possibly could. Period. Creating a huge personal fortune was never particularly a goal of mine.

—Sam Walton, Founder, Wal-Mart^

magine you met a remarkable person who could look at the sun or stars at any time of day or night and state the exact time and date: "It's April 23, 1401, 2:36 A.M., and 12 seconds." This person would be an amazing time teller, and we'd probably revere that person for the ability to tell time. But wouldn't that person be even more amazing if, instead of telling the time, he or she built a clock that could tell the time forever, even after he or she was dead and gone?' Having a great idea or being a charismatic visionary leader is "time telling"; building a company that can prosper far beyond the presence of any single leader and through multiple product life cycles is "clock building." The builders of visionary companies tend to be clock builders, not time tellers. They concentrate primarily on building an organization—building a ticking clock—
From 6u/;t to Last by James C. Collins and Jerry I. Porras. Copyright © 1994 by James C. Collins and Jerry I. Porras. Reprinted with authority from HarperCollins Publishers.

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CALIFORNIA MANAGEMENT REVIEW

VOL 37, NO. 2

WINTER 1995

Building a Visionary Company

rather than on hitting a market just right with a visionary product idea and riding the growth curve of an attractive product life cycle. And instead of concentrating on acquiring the individual personality traits of

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