Lessons From Century Club Companies: Managing for Long-Term Success

A premise of this book is that a fundamental objective of any organization, though often unstated, is survival.

Factor 1: Strong corporate mission and culture

Factor 5: Active members of the local community

The Century Club companies also place more importance on profitability than growth.

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

There is a notable absence of talk about profits or financial strength. The old firms showed the most differentiation from other firms in the ways they live up to their mission statements.

survival is the ultimate performance measure.”

Several of the oldest known continuously-operating companies in the world are Japanese. Seven were founded prior to the year 1,000. The size of companies in the database of Japanese firms over 100 years old clearly proves that firms do not have to grow large to survive. In fact most shinise are small- to medium-sized, private (often family-owned) b

Developing leaders from within the firm appears to be one of the key differentiating factors in sustaining a business for the long term. The old companies are concerned not just about reaping today’s harvest, they are cultivating the ground for future crops. This factor is especially apparent in the area of leadership development.