Question

According to research conducted by collins and Porras, which of the following is a common practice that explains the success of visionary companies

Answer 1

According to research conducted by collins and Porras,  the  common practice that explains the success of visionary companies-Core Ideology

Explanation:

The core ideology defines the characteristic  of an organization—like  technological know how , management trends , and individual leaders.

For a firm it  is more important to know who they are and how they will go ahead with the changes around them(futuristic vision). The Leaders will die, products will become  obsolete, markets demand will change, new innovations will  emerge, and management will change , but the  core ideology of a company acts as a source of guidance and inspiration in hard times . Core ideology is the  glue that holds an organization together when it undergoes the process of growth , decentralization, diversification and expansion

Core Ideology typically means the Vision,Mission & Values of an organization. The ideology acts as a source of communication to stakeholders (i.e. from employees to investors  about what the company will stick to and  the guidelines to which it will adhere in the future.)