BUILDING YOUR COMPANY’s VISION(James C Collins and Jerry I Porras)

BY

Adwitee Chandra

Gandhrav Gaurav

Rishabh Patel

Rohan Arora

Shikha Bose

ARTICULATING A VISION

• A well conceived ‘VISION’ consists of two major components

- Yin, the unchanging ‘CORE IDEOLOGY’- Yang, ‘ENVISIONED FUTURE’

• Core Ideology defines what an organization stands for and why it exists.

• Envisioned Future is what an organization aspires to become, something that will require change and progress to attain.

CORE IDEOLOGY

The enduring character of an organization. It holds an organization together through time.

Core Ideology consists of two parts- Core Values, small set of timeless guiding principles,

that hold importance to those inside the organization.- Core Purpose, the organization’s reason for existence.

CORE VALUE

• The key is not what core values an organization has but that it has core values at all.

• Only a few values can be truly core, fundamental and deeply held that will change seldom, if ever.

• A company should not change its core values in response to market changes, rather it should change markets if necessary to remain true to its core values.

Who articulates Core Values?

• Mars Group – People who have a gut understanding of the core values, the highest level of credibility with their peers and the highest levels of competence.

• Distinguish between enduring core values that should not change and practices and strategies that should be changing all the time.

CORE PURPOSE

• The Company’s reason for being

• Doesn’t describe the organization’s output or target customers, it captures the soul of the organization.

• You might achieve a goal or complete a strategy, you cannot fulfill a purpose. A guiding star, pursued but never reached.

Getting at a purpose..

• Five Whys- We make X products or we deliver X services, and

then ask, Why is that important? Five times.

• Random Corporate Serial Killer game

- What would be lost if the company were sold to someone who would pay a very generous price, guarantee jobs, in a different industry BUT after the sale, the buyers kill the company? What would be lost if the company ceased to exist?

ENVISIONED FUTURE

• On one hand, it conveys concreteness, something visible, vivid and real. On the other hand, it involves a time yet unrealized, with its dreams, hopes and aspirations.

• Envisioned Future consists of two parts- 10 to 30 year audacious goal

- Vivid Descriptions

Big Hairy Audacious Goal (BEEHAG)

• A true BHAG is clear and compelling, serves as a unifying focal point of effort and acts as a catalyst for team spirit.

• It engages people – reaches out and grabs them.

• Tangible, energizing and highly focused

Setting a BHAG…

• Applies to the entire organization and requires 10-30 years of efforts to complete.

• Requires team to be visionary than just strategic or tactical.

• It will have only a 50%-70% chance of success, but the organization must believe that it can achieve the goal anyway.

• EXTRAORDINARY effort and a little luck.

VIVID DESCRIPTION

• Vibrant, engaging and specific description of what it will be like to achieve the BHAG.

• Translating the vision from words into pictures. Creating an image that people can carry around in their heads.

DISTINGUISHERS

• Core purpose is the reason why the organization exists.

• BHAG is an articulated goal.

• Core purpose can never be completed.

• BHAG reachable in 10-30 years.

• Core purpose is the guiding star.

• BHAG is the mountain to be climbed.

Organizations excelling in articulating a vision

Conclusion

• Core Ideology needs to be meaningful and inspirational only to people inside the organization.

• Find and retain people who will share the core values and purpose of the organization.

• Build the strength of the organization as the primary way of creating the future.

• Always have a BHAG to replace one that has been achieved by the organization.