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)

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

Factor 4: Long-term employee relationships

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

It is difficult to overstate the importance of “institutional memory” built up over time that resides in long-term employees. Century Club companies also tend to develop leaders from within, using a deliberate process for leadership succession.

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

The connection between employee training investments and long-term employment is well documented

understanding what their best and most innovative customers are doing.”

Long-term survival comes from continuous efforts to change while protecting and building on core strengths—a delicate balance between tradition and change.