Present leaders of Century Club companies see themselves as stewards or custodians of the business and feel an obligation to manage the firm in a way that both honors the past and ensures its survival into the future. This deliberate focus on continuity, rather than making a name for themselves, results in real differences in the way old companies

Frugality in running the business enables the company to set aside money in prosperous times to help weather the lean years. This approach to financial management also means money is available to internally fund new opportunities when they arise, thus avoiding external sources of financing, or having to convince others of the value of an initiative

Factor 3: Close relationships with business partners

This is the profit paradox of Century Club companies: though they don’t define the purpose or mission of their company as making money, they are very profitable.

The resulting close-knit, mutually-supportive relationships heighten the company’s ability to weather challenges as well as to learn and adapt over time.

Factor 1: Strong corporate mission and culture

Respect heritage, but don’t let it rule. We have always been able to change with the times.

There is, however, one common practice the old companies share: a conservative approach to managing finances. These firms are very reluctant to go into debt as a way of funding their business.

Century Club companies have thrived for over 100 years by successfully practicing a way of doing business that creates shared value and enables their own survival long before such ideas came to be described as the next evolution of American capitalism.