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Related Experiment Videos

The living company.

A de Geus1

  • 1London Business School.

Harvard Business Review
|February 6, 1997
PubMed
Summary
This summary is machine-generated.

Companies that thrive for centuries, unlike those lasting less than 20 years, focus on long-term survival and people development. "Living companies" prioritize adaptability and learning over short-term economic gains for sustained success.

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Area of Science:

  • Business Management
  • Organizational Longevity
  • Corporate Strategy

Background:

  • The average corporate lifespan is less than 20 years, contrasting sharply with centenarian companies like Stora.
  • Many businesses fail due to an overemphasis on economic metrics rather than holistic organizational health.

Purpose of the Study:

  • To investigate the factors contributing to the longevity of "living companies."
  • To understand the strategic differences between long-lived and short-lived corporations.

Main Methods:

  • Analysis of management practices in long-standing organizations.
  • Comparative study of corporate policies and their impact on survival rates.

Main Results:

  • "Living companies" view managers as stewards committed to long-term survival.

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  • These companies prioritize growth, renewal, and adaptability, valuing profits as essential but not the sole purpose.
  • A strong focus on employee development and peer-to-peer learning is characteristic of enduring organizations.

    • Conclusions:

    • Organizational success in an unpredictable world hinges on the capacity to learn, adapt, and evolve.
    • Shifting focus from pure economics to a community of people and long-term stewardship fosters corporate longevity.
    • Proactive portfolio management and continuous innovation are key strategies for sustained enterprise survival.