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I was reading my usual dose of Business Times when I came across a rather interesting article (or rather, set of articles). Basically, these articles (called “The Secret to Corporate Longevity”) were written on the longevity of companies and the secrets behind them being able to survive through thick and thin, through booms and downturns; through world wars and periods of economic turmoil. The companies which were mentioned included SPH, Eu Yan Sang as well as Boustead. The articles can be accessed either through Business Times archive or through Boustead’s website at http://www.boustead.sg/ (Media); but what I wish to highlight is something Mr. FF Wong (CEO of Boustead) mentioned and the context in which it applies to investing in companies. He speaks about adaptability and evolution in the following paragraph:-
"A highly successful product or service today may not be successful tomorrow. A stubborn company will try its best to hold on to products and services, even when they are irrelevant. Companies that enjoy longevity do things differently. They evolve. They create a different business and adapt to prevailing times.”
I think the above embodies the essence of corporate survivability in the long-term and what it takes for a company to remain successful amidst a rapidly changing global landscape; and also as events become more fast-paced in today’s computer-driven environment. Mr. Wong touches on evolution, adaptability, corporate culture (resistance to change versus embracing change) as well as succession planning and “AQ” or what he terms “Adversity Quotient”. Companies which can adapt well to the changing needs and wants of their target consumers will be able to survive and thrive, while companies which stubbornly hold on to past glories (e.g. Creative and its “Sound Blaster Card”) but cannot innovate are left behind in the relentless pursuit for profits in our capitalistic society. Read more...[caption id="attachment_3169" align="alignright" width="150" caption="Photo by kevindooley"][/caption]
I was reading my usual dose of Business Times when I came across a rather interesting article (or rather, set of articles). Basically, these articles (called “The Secret to Corporate Longevity”) were written on the longevity of companies and the secrets behind them being able to survive through thick and thin, through booms and downturns; through world wars and periods of economic turmoil. The companies which were mentioned included SPH, Eu Yan Sang as well as Boustead. The articles can be accessed either through Business Times archive or through Boustead’s website at http://www.boustead.sg/ (Media); but what I wish to highlight is something Mr. FF Wong (CEO of Boustead) mentioned and the context in which it applies to investing in companies. He speaks about adaptability and evolution in the following paragraph:-
"A highly successful product or service today may not be successful tomorrow. A stubborn company will try its best to hold on to products and services, even when they are irrelevant. Companies that enjoy longevity do things differently. They evolve. They create a different business and adapt to prevailing times.”
I think the above embodies the essence of corporate survivability in the long-term and what it takes for a company to remain successful amidst a rapidly changing global landscape; and also as events become more fast-paced in today’s computer-driven environment. Mr. Wong touches on evolution, adaptability, corporate culture (resistance to change versus embracing change) as well as succession planning and “AQ” or what he terms “Adversity Quotient”. Companies which can adapt well to the changing needs and wants of their target consumers will be able to survive and thrive, while companies which stubbornly hold on to past glories (e.g. Creative and its “Sound Blaster Card”) but cannot innovate are left behind in the relentless pursuit for profits in our capitalistic society. Read more...
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I was reading my usual dose of Business Times when I came across a rather interesting article (or rather, set of articles). Basically, these articles (called “The Secret to Corporate Longevity”) were written on the longevity of companies and the secrets behind them being able to survive through thick and thin, through booms and downturns; through world wars and periods of economic turmoil. The companies which were mentioned included SPH, Eu Yan Sang as well as Boustead. The articles can be accessed either through Business Times archive or through Boustead’s website at http://www.boustead.sg/ (Media); but what I wish to highlight is something Mr. FF Wong (CEO of Boustead) mentioned and the context in which it applies to investing in companies. He speaks about adaptability and evolution in the following paragraph:-
"A highly successful product or service today may not be successful tomorrow. A stubborn company will try its best to hold on to products and services, even when they are irrelevant. Companies that enjoy longevity do things differently. They evolve. They create a different business and adapt to prevailing times.”
I think the above embodies the essence of corporate survivability in the long-term and what it takes for a company to remain successful amidst a rapidly changing global landscape; and also as events become more fast-paced in today’s computer-driven environment. Mr. Wong touches on evolution, adaptability, corporate culture (resistance to change versus embracing change) as well as succession planning and “AQ” or what he terms “Adversity Quotient”. Companies which can adapt well to the changing needs and wants of their target consumers will be able to survive and thrive, while companies which stubbornly hold on to past glories (e.g. Creative and its “Sound Blaster Card”) but cannot innovate are left behind in the relentless pursuit for profits in our capitalistic society. Read more...
