contactaboutservicesJIMCOLLINSConceptsBooksToolsArticlesViewAllArticlesCommentaryCultureLeadershipOrganizationSelf-ManagementSocialSectorsStrategyTechnologyForewordsVideo/AudioYoungLeadersAllVideo/AudioWhatisGreat?Level5LeadershipFirstWho,ThenWhatHedgehogConceptBHAGTheFlywheel20MileMarchAllConceptsSocialSectorsResearch/ReflectionsContactAboutServicesARTICLESBuildingCompaniestoLastInc.SpecialIssue—TheStateofSmallBusinessbyJimCollins1995Inaworldofconstantchange,thefundamentalsaremoreimportantthaneverInthiseraofdramaticchange,we’rehitfromallsideswithlopsidedperspectivesthaturgeustoholdnothingsacred,to“re-engineer”anddynamiteeverything,tofightchaoswithchaos,tobattleacrazyworldwithtotal,unfetteredcraziness.Everybodyknowsthatthetransformationsfacingus—social,political,technological,economic—renderobsoletethelessonsofthepast.Well,Isubmitthat“everybody”iswrong.Therealquestionis,whatistheproperresponsetochange?Wecertainlyneednewandimprovedbusinesspracticesandorganizationalforms,butinaturbulenteralikeours,attentiontotimelessfundamentalsisevenmoreimportantthanitisinstabletimes.Toidentifythosetimelessfundamentals,JerryPorrasandIembarkedupontheintensivesix-yearresearchprojectthatledtoourbookBuilttoLast.Westudiedthefounding,growth,anddevelopmentofexceptionalcompaniesthathavestoodthetestoftime,companieslikeHewlett-Packard,3M,Motorola,Procter&Gamble,Merck,Nordstrom,Sony,Disney,Marriott,andWal-Mart.Those“visionarycompanies”hadbothendurance,withanaverageageofnearly100years,andsustainedperformance.Forexample,theirstockhasperformed15timesbetterthantheoverallstockmarkethassince1926.Wealsostudiedeachvisionarycompanyincontrasttoa“comparisoncompany”thathadroughlythesameshotinlifebutdidn'tturnoutaswell—3MwithNorton,P&GwithColgate-Palmolive,MotorolawithZenith,andsoon.Bystudyingcompaniesthathaveprosperedoverthelongterm,wewereabletouncovertimelessfundamentalsthatenableorganizationstoendureandthrive.Westudiedthosevisionarycompaniesnotonlyasbigbusinessbutalsoasstart-upsandgrowthcompanies.Andthey