How to Keep Your Company Thriving for 100 Years.
Will Your Company Survive for a Century?
IndustryWeek is currently featuring a number of manufacturing companies that have been existence since the 1800’s, supplemented by relative newcomers –- those created shortly after 1900.
What separates these businesses from the multitudes that have come and gone in the last decade, much less the last 50 years?
Look at the names. Companies like Procter and Gamble, Johnson & Johnson, Timken, Goodyear, and Merck.
Companies that have had an unwavering commitment to the customer, to their credo, and to constantly improving their products and services. Companies that win competitions for “best company to work for.”
Each of the companies has struggled at times, but they didn’t take tempting shortcuts. Johnson & Johnson’s handling of the Tylenol scandal is still held as the example of how to handle a perceived quality problem when customers are at risk. The reluctance of some auto manufacturers to recall known quality problems lies in stark contrast.
Read More About Strategies to Achieve Sustainable, Long-Term Growth
If you want to be included on IndustryWeek’s list in the year 2100:
- Have a mission and vision and company credo that has real meaning and guides decision-making during the most challenging of times
- Not all customers are right all the time, but reliably doing what is right for your customers will stand the test of time
- Treat your employees like the sign in the lobby says: like they are your most valuable asset. Because they are.
As published by IndustryWeek
