Building Your Company’s Vision A recap of the HBR article written by James C. Collins and Jerry

1. Building Your Company’s Vision A recap of the HBR article written by James C. Collins and Jerry Summarized and editorialized by Cindy Diamond

2. Vision Workshop • Why do this? • Creates a structure around which to build your priorities and actions and guides those priorities and actions • Helps establish alignment around who you are and where you are going • Guides your selection of partners and others selection of you (including partners, employees, investors/donors) • Provides inspiration and clarity • Opens up a new possibilities and ideas – “stretches the imagination and motivates people to rethink what is possible”

3. Key Components Vision Core Ideology Captures what you stand for and why you exist. Role is to guide and inspire those inside, not to differentiate. Envisioned Future Aspirations Core Values Timeless guiding principles. Rarely if ever change. Core Purpose Reason for being. Rarely if ever changes. BHAG Clearly articulated, lofty goal -- 15+ years out. Vivid Description What the future looks like when you’re successful. Key Strategies How will we achieve the BHAG within the context of our core ideology? Source: “Building Your Company’s Vision”, by James C. Collins and Jerry I. Porras; HBR

4. Core Ideology • You do not create or set core ideology. You discover core ideology. • You understand it by looking inside. • Ideology must be authentic. You cannot fake it. • It must be meaningful and inspirational only to people inside; it need not be exciting to outsiders or differentiating vs. others. • The point is not to create a perfect statement but to gain a deep understanding of your core values and purpose; which can then be expressed in a multitude of ways. • Once you are clear about the core ideology, you should feel free to change absolutely anything is not part of it. If it’s not core, it’s up for change! Source: “Building Your Company’s Vision”, by James C. Collins and Jerry I. Porras; HBR

5. Core Values • Guiding principles that already exist but may not be articulated; ask: “what core values do we truly and passionately hold?” • 3-5 essential and enduring tenets (do not change) • Require no external justification; they have intrinsic value and importance to those inside (goal is to guide and inspire, not to differentiate) • Must be authentic – you can not fake it • Sharei Chesed Synagogue • Accepting and respecting of all • Love your neighbor as yourself • Inspiration through learning and teaching • Accountability to ourselves, our synagogue and our communities • Sony • Elevation of the Japanese culture and national status • Being a pioneer – not following others, doing the impossible • Encouraging individual ability and creativity • Walt Disney • No cynicism • Nurturing and promulgation of “wholesome American values” • Creativity, dreams and imagination • Fanatical attention to detail & consistency Source: “Building Your Company’s Vision”, by James C. Collins and Jerry I. Porras; HBR

6. Core Purpose • Articulates your reason for being • Provides inspiration and direction for doing the work • Should not change through time and circumstances • Never truly completed – “a guiding star on the horizon” United Way To mobilize local leaders and their communities in order to identify and address local human needs. Make a Wish Foundation To enrich the lives of children with life-threatening medical conditions. 3M To solve unsolved problems innovatively Sharei Chesed Synagogue To share and experience the joys and comforts of Judaism in a friendly place where all feel welcome. Lost Arrow Corporation To be a role model and a tool for social change. Source: “Building Your Company’s Vision”, by James C. Collins and Jerry I. Porras; HBR

7. Core Purpose Criteria • States your organization’s reason for begin • Provides inspiration and direction for doing the work • Timeless • Never truly completed • Not a statement of core competence • Doesn’t have to be differentiating

8. Envisioned FutureConsists of a 10-to-30 year audacious goal plus vivid descriptions of what it would be like to achieve the goal. • BHAG – Big Hairy Audacious Goal • The goal is a huge challenge, akin to climbing Mt. Everest. • It is clear and compelling; it serves as a unifying focal point of effort, and acts as a catalyst for team spirit. • Organizations may have many BHAGs at different levels operating at the same time but must have a vision-level BHAG that applies to the entire organization. • Requires thinking beyond current capabilities and the current environment. • A BHAG should require extraordinary effort and perhaps a little luck. • Vivid Description • Think of it as translating the vision of the future from words into pictures, of creating an image people can carry around in their heads to make it tangible. Source: “Building Your Company’s Vision”, by James C. Collins and Jerry I. Porras; HBR

9. Big Hairy Audacious Goal (BHAG) • A clearly articulated goal with a clear finish line • Achievable within a specific timeframe (10-30 years) • 15% knowledge of how, 50%-70% sure we can • Tangible, energizing, highly focused – people get it right away Boeing, 1950 (Target BHAG – can be qualitative or quantitative) “Become the dominant player in commercial aircraft and bring the world into the jet age.” Stanford University (Role-Model BHAG) “Become the Harvard of the west.” Nike (Common-enemy BHAG) “Crush Adidas” Computer Products Company (Internal-Transformation BHAG) “Transform from a industry innovation follower to industry innovation leader” Source: “Building Your Company’s Vision”, by James C. Collins and Jerry I. Porras; HBR

10. Vivid Description • A vibrant, engaging and specific description of what it will be like to achieve the BHAG • Makes the BHAG tangible in people’s minds • Passion, emotion and conviction are essential parts of the description • Creative process Example – Division of product company with BHAG of becoming one of the most sought-after divisions in the company: We will be respected and admired by our peers . . . Our solutions will be actively sought by the other divisions, who will achieve significant success in the marketplace largely become of our technical contributions. . . We will have pride in ourselves. . . The best up-and-coming people in the company will seek to work in our division. . . People will give unsolicited feedback that they love what they are doing. . . Our own people will walk on the balls of their feet. . . They will willingly work hard because they want to. . .Both employees and customers will feel that our division has contributed to their life in a positive way.” Source: “Building Your Company’s Vision”, by James C. Collins and Jerry I. Porras; HBR

11. For more information on vision workshops and other strategy, team building and innovation workshops, please contact: • Cindy Diamond • Diamond Marketing Solutions / IGNiTE • www.ignitenewthinking.com • cdiamonds@comcast.net • 763-553-2018