This comes straight off the Jim Collins website: In his famous essay “The Hedgehog and the Fox,” Isaiah Berlin divided the world into hedgehogs and foxes, based upon an ancient Greek parable: “The fox knows many things, but the hedgehog knows one big thing.”
Setting a vision is one of the most important (yet most misused and misunderstood) steps you can take to improve and grow your company - or yourself for that matter. A clear vision that is shared with others pays off in so many ways. In Jim Collins' book, "Good to Great," he writes about the importance of BHAG. BHAG is an acronym for Big Hairy Audacious Goals. In his book, Jim Collins shares several examples of how companies have been successful and have gone from good to great by using his criteria of BHAG. Click here for his brief commentary.
Five criteria of a good BHAG:
They...
- are set with understanding, not bravado.
- fit squarely in the three circles of your Hedgehog Concept.
- have a long time frame—10 to 30 years.
- are clear, compelling and easy to grasp.
- directly reflect your core values and core purpose
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