It is yet again Friday, and maybe time for some off topic thoughts for the weekend. One of the best books about corporate development in my bookshelf is Built to Last by Jim Collins, of Good to Great fame. The book outlines the results of a six-year research project into what makes enduring great companies.
According to the author, lasting companies have taken leadership roles in their industries, offering innovative products and services and consistently outsmarted rivals. What makes the research interesting is that Collins compares and contrasts visionary companies with their rivals.
What does it take for a company to survive through generations, for decades or for centuries? Long lived companies do good in society and fills a greater purpose than their own mission statements. They establish roots in communities, they provide stability and employment and as workers grow up through the business and retire, they provide a link through generations.
One of the oldest companies in the world is the Japanese hotel Nishiyama Onsen Keiunkan founded in 705, listed in Guinness Book of Records. Looking at larger organisations in the world, the list on the right is commonly considered to be accurate.
For more thoughts on the topic, here is a link to the highly readable document “Built to Become – Corporate Longevity and Strategic Leadership*, by Professor Robert A. Burgelman at Stanford.
In the video below, Financial Times explores corporate longevity through the example of businesses in Hong Kong.
The post Secrets of Corporate Longevity appeared first on Bearing Consulting.
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