{"id":25465,"date":"2022-05-02T01:56:44","date_gmt":"2022-05-02T01:56:44","guid":{"rendered":"https:\/\/wealinternational.com.br\/?p=25465"},"modified":"2022-05-22T01:57:07","modified_gmt":"2022-05-22T01:57:07","slug":"are-you-doing-these-three-things-that-lead-to-long-term-success-by-imd","status":"publish","type":"post","link":"https:\/\/wealinternational.com.br\/en\/are-you-doing-these-three-things-that-lead-to-long-term-success-by-imd\/","title":{"rendered":"Are you doing these three things that lead to long-term success? (by IMD)"},"content":{"rendered":"
Are you creating a business that will stand the test of time? There are three factors which can influence your success.<\/strong><\/h5>\n

Why do some companies seem to last forever while others fold?\u00a0We\u00a0have looked closely at\u00a0business longevity,\u00a0investigating 50 global companies that stayed among the most\u00a050 valuable traded companies over a period of 50 years. Some of these powerhouses\u00a0even enjoyed a 100-year horizon on that list. Our research revealed some interesting lessons in what companies that stand this test of time all do. Here are the top three.\u00a0Take a look\u00a0and\u00a0evaluate whether\u00a0your company is\u00a0hitting all these points, and if not, start strategizing.<\/span>\u00a0<\/span><\/p>\n

Strike a balance between exploration and exploitation.<\/span><\/b>\u00a0<\/span><\/p>\n

Exploration is the ability to look at future trends and innovate for market relevance. Exploitation is the precision your company uses to maintain internal focus around productivity, clarity of direction and discipline.\u00a0The companies that last the longest are experts at balancing these two factors.<\/span>\u00a0<\/span><\/p>\n

Be outside driven.<\/span><\/b>\u00a0<\/span><\/p>\n

Companies that have stood the test of time do not become introverted. They\u00a0look at what\u2019s happening around them and learn and they are always searching for the next frontier. You must constantly be developing new\u00a0capabilities\u00a0or you will be left behind.\u00a0If you get comfortable and stop trying to look ahead of the market making decisions about maintaining the status quo you run the risk of becoming introverted.<\/span>\u00a0<\/span><\/p>\n

Embrace\u00a0sustainability.<\/span><\/b>\u00a0<\/span><\/p>\n

Sustainability in this sense refers to the ability of companies to find\u00a0positive\u00a0trade-offs\u00a0between economic, environmental, and social issues.\u00a0Sustainable companies balance\u00a0profit, people,\u00a0and planet.\u00a0Companies often do this by acting on megatrends that are completely predictable,\u00a0such as a move from\u00a0a company that extracts resources to one that recycles.\u00a0Umicore is a great example of this.<\/span>\u00a0<\/span><\/p>\n

These three factors are all hallmarks of durable companies. All of them require forward-thinking\u00a0and creating a balance that recognizes that business is not separate from our ecosystem, but an integral part of it. It\u2019s time to ask yourself, has your company acknowledged this?<\/span>\u00a0<\/span><\/p>\n

\n
\n

______________________________________________________________________<\/h3>\n

Authors:<\/p>\n

Knut Haanaes<\/p>\n

Lundin Chair Professor of Sustainability at IMD<\/p>\n

\n

Knut Haanaes<\/a> was until recently the Dean of the Global Leadership Institute at the World Economic Forum. At IMD he teaches in many of the key programs, including the MBA, EMBA and other executive programs. He is Program Co-Director of the new Leading Sustainable Business Transformation program<\/a>. His research interests are related to strategy, digital <\/span><\/span>transformation<\/span><\/span>\u00a0and sustainability.<\/span><\/span><\/p>\n

 <\/p>\n<\/div>\n<\/div>\n<\/div>\n

\n

James Henderson<\/p>\n

\n

Professor of Strategic Management at IMD<\/p>\n

\n

James E. Henderson<\/a> is Professor of Strategic Management at IMD. He is Program Co-Director of the Leading Sustainable Business Transformation<\/a> program and he is Program Director of the Strategic Partnership course<\/a>. He helps companies achieve and sustain their competitive advantage either at a business unit, corporate or global level through directing custom specific executive programs, facilitating strategy workshops, or teaching MBAs and executives.<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Are you creating a business that will stand the test of time? There are three factors which can influence your success. Why do some companies seem to last forever while others fold?\u00a0We\u00a0have looked closely at\u00a0business longevity,\u00a0investigating 50 global companies that stayed among the most\u00a050 valuable traded companies over a period of 50 years. Some of […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[17,16],"tags":[56,67],"_links":{"self":[{"href":"https:\/\/wealinternational.com.br\/en\/wp-json\/wp\/v2\/posts\/25465"}],"collection":[{"href":"https:\/\/wealinternational.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wealinternational.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wealinternational.com.br\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/wealinternational.com.br\/en\/wp-json\/wp\/v2\/comments?post=25465"}],"version-history":[{"count":1,"href":"https:\/\/wealinternational.com.br\/en\/wp-json\/wp\/v2\/posts\/25465\/revisions"}],"predecessor-version":[{"id":25466,"href":"https:\/\/wealinternational.com.br\/en\/wp-json\/wp\/v2\/posts\/25465\/revisions\/25466"}],"wp:attachment":[{"href":"https:\/\/wealinternational.com.br\/en\/wp-json\/wp\/v2\/media?parent=25465"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wealinternational.com.br\/en\/wp-json\/wp\/v2\/categories?post=25465"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wealinternational.com.br\/en\/wp-json\/wp\/v2\/tags?post=25465"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}