Building Blocks: Vision/Capital Flashcards
Define vision
Values, principles, and envisioned future.
Define Capital
Raising money and building partnerships.
Why does a company need a vision?
James C. Collins and Jerry I. Porras explain why an organization needs a vision: “Truly great companies understand the difference between what should never change and what should be open for change, between what is genuinely sacred and what
is not. This rare ability to manage continuity and change—requiring a consciously practiced discipline—is closely linked to the ability to develop a vision. Vision guides what core to preserve and what future to stimulate progress toward.
Collins and Porras divide their vision thing into two parts. One is
the company’s core ideology, which is made up of its core values
and core purpose. The other is its envisioned future, where one
finds the famous “BHAGs” (Big, Hairy, Audacious Goals) that
Collins and Porras first described in their book Built to Last, plus
vivid descriptions of what it will look like when they’re reached.”
What is the benefit of having a strong vision?
No constant need for motivation.
A vision inspires resilience driving people for years.
A vision never ends, and thus people’s belief in it never ends.
What three boxes must your vision statement check?
- What will you create.
- Impact on your customers
- Clarity of priorities that grounds all your choices and provides direction.
List the questions that bring clarity to a vision.
1.How big are we (the company) going to be?
2. What markets are we going after?
3. What history will we create?
4. Who is going to write about us?
How does vision relate to morals and integrity?
A strong vision must be build on clear values and principles.
What are PBD’s business principles?
1.Never compromise our non-negotiables.
2. Micromanage until there is trust.
3. What brought us here won’t take us to the next level. We must improve.
4. No one has 100 percent job security, including the founder or CEO.
5. Create positive peer pressure by challenging one another.
6. Beat your prior best.
7. Treat the company’s money like it’s your own.
8. Be radically open-minded but not easily persuaded.
9. Fight any temptation to lower expectations and standards.
10.Create an environment where our team is taken care of financially and professionally.
How do you make principles stick?
- Choose a meaningful place to create your values and
principles. - Bring all key stakeholders.
- Allow everyone to participate.
- Narrow the list to no more than twelve.
- Make it your own with a preamble or whatever works.
- Create an impressive visual.
- Put that visual in the appropriate places.
Give some examples of the building blocks vision and capital.
