It's ironic because from 1995 to 2000, investors were mainly interested in new, wobbly, uncertain businesses. Now that investors are again worshipping sustainable earnings rather than just exciting stories, Built to Last gains renewed and deserved relevance. The authors of this book researched the strongest companies in the world to determine what made them last and prosper through many decades. Companies younger than that have not yet proven that they can sustain generation after generation of staff and business changes and still thrive. From the very start of the book, the authors' years of research enabled them to begin dispelling 12 long-held myths about what makes a great business.
Visionary companies require great and charismatic visionary leaders.
Blue-chip companies play it safe. The most successful companies focus primarily on beating the competition. The book adroitly argues that these and eight other widespread beliefs are not true. In fact, the reality at great companies is typically the opposite of these myths. Organizational strength trumps novelty The primary lesson that I learned from the book is the strongly supported argument that most great companies are not founded on a great idea or invention, technological or otherwise.