Fundamentally altering the way executives think about long-term success, Built to Last has become a bible among CEOs and managers at prestigious corporations the world over. Using examples from such companies as Wal-Mart, 3M, P&G, and Johnson & Johnson, two professors at the Stanford Graduate School of Business conclude that vision is endemic to an organization's success. Comparisons with a list of also-rans-Pfizer, Ames, Norton, Colgate, Bristol Meyers, and Zenith-helped the authors to prove their central idea: visionary companies can stimulate progress while preserving their core businesses; they can sustain a sense of cultism, create BHAGs (big, hairy, audacious goals), and use unplanned progress to be successful year after year. aThis new edition features an introduction by the authors, describing what they've learned since the original publication about how their findings apply to international settings, nonprofits, corporations in need of transformation, and making predictions for the future. Throughout, the authors asked: "What makes the truly exceptional companies different from other companies?" What separates General Electric, 3M, Merck, Wal-Mart, Hewlett-Packard, Walt Disney, and Philip Morris from their rivals? How, for example, did Procter & Gamble, which began life substantially behind rival Colgate, eventually prevail as the premier institution in its industry? How was Motorola able to move from a humble battery repair business into integrated circuits and cellular communications, while Zenith never became dominant in anything other than TVs? How did Boeing unseat McDonnell Douglas as the world's best commercial aircraft company -- what did Boeing have that McDonnell Douglas lacked? By answering such questions, Collins and Porras go beyond the incessant barrage of management buzzwords and fads of the day to discover timeless qualities that have consistently distinguished out-standing companies. They also provide inspiration to all executives and entrepreneurs by destroying the false but widely accepted idea that only charismatic visionary leaders can build visionary companies. Filled with hundreds of specific examples and organized into a coherent framework of practical concepts that can be applied by managers and entrepreneurs at all levels, Built to Last provides a master blueprint for building organizations that will prosper long into the twenty-first century and beyond.