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BUILDING YOUR COMPANY’s VISION(James C Collins and Jerry I Porras)
BY
Adwitee Chandra
Gandhrav Gaurav
Rishabh Patel
Rohan Arora
Shikha Bose
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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.
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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.
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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.
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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.
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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.
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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?
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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
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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
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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.
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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.
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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.
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Organizations excelling in articulating a vision
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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.