What is a visionary company? Visionary companies are premier institutions-the crown jewels- in their industries, widely admired by their peers and having a long track record of making a significant impact on the world around them. The key point is that a visionary company is an organization-an institution. All individual leaders, no matter how charismatic or visionary, eventually die; and all visionary products and services-all "great ideas"-eventually become obsolete. Indeed, entire markets can become obsolete and disappear. Yet visionary companies prosper over long periods of time, through multiple product-life cycles and multiple generations of active leaders.
~James C. Collins and Jerry I Porras
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