Question

A handful of companies on the Fortune 500 list are more than 100 years old, which is rare. What organizational characteristics do you think might explain 100-year longevity

Answer 1

Answer:

Following are the organizational characteristics that explain the 100-year longevity of a company:

Explanation:

Selling Necessity Goods

Many of companies provide such goods and services which are essential for our everyday activities. Hence, people tend to buy from these companies as it is their routine to do so.

Laser-Sharp Customer Focus

These companies have always focused on the ever changing needs and demands of the customers and have worked accordingly.  Hence their focus on customer service is the key to their success.

Willingness to Chart New Territory

Since customer needs are always evolving, all organizations celebrating centennials have taken significant gambles in order to expand their offerings.  Steelcase, for instance, began as a furniture company but has recognized that the way people work has changed.  

Ongoing Community Relationships

Long-lasting organizations also make their mark by giving back to the communities in which they’ve thrived. The GSUSA estimates that its members complete more than 75 million hours of community service annually.  

These organizations have achieved so much because they have adapted their strategies to a changing world, and because they are always looking for ways to improve people’s lives.  It is these traits that position them well no matter what the future holds.