Built to Last is about how you take a company with great results and turn it into an enduring great company of iconic stature.
JAMES C. COLLINSIf I were running a company today, I would have one priority above all others: to acquire as many of the best people as I could. I’d put off everything else to fill my bus. Because things are going to come back. My flywheel is going to start to turn.
More James C. Collins Quotes
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You must maintain unwavering faith that you can and will prevail in the end, regardless of the difficulties, AND at the same time, have the discipline to confront the most brutal facts of your current reality, whatever they might be.
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Not every financial company toppled during the 2008 crisis, and some seized the opportunity to take advantage of weaker competitors in the midst of the tumult.
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Everytime you think of it, the idea in your head seems to get more vivid, filled in with more detail:
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There is a sense of exhilaration that comes from facing head-on the hard truths and saying, “We will never give up. We will never capitulate. It might take a long time, but we will find a way to prevail.”
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We are not imprisoned by circumstances, setbacks, mistakes or staggering defeats, we are freed by our choices.
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Those who build great companies understand that the ultimate throttle on growth for any great company is not markets, or technology, or competition, or products. It is one thing above all others: the ability to get and keep enough of the right people.
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The greatest leaders build organizations that, in the end, don’t need them.
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If you have more than three priorities then you don’t have any.
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Level 5 leaders are fanatically driven, infected with an incurable need to produce sustained results. They are resolved to do whatever it takes to make the company great, no matter how big or hard the decisions.
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In an ironic twist, I now see Good to Great not as a sequel to Built to Last, but more of a prequel. Good to Great is about how to turn a good organization into one that produces sustained great results.
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Not all time in life is equal. How many opportunities do you get to talk about what your life is going to add up to with people thinking about the same question?
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Change your practices without abandoning your core values.
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Mediocrity results first and foremost from management failure, not technological failure.
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I am completely Socratic.
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The only way to make any company visionary is through a long-term commitment to an eternal process of building the organization to preserve the core and stimulate progress.
JAMES C. COLLINS