Recent Books

Managing for the Long Run

Danny Miller, Isabelle Le Breton-Miller; Translated from English to Korean by Kim Hyun-jung; Minumsa Publishing; 448pp., 16,000 won

Some businesses thrive for more than 100 years, but most don't last long. What makes the difference?

The New York Times, Michelin and Fidelity are among the enduring family-controlled businesses that are not average but ``great''. The conventional conception is that clan culture and unencumbered family ownership are weak points.

But the authors claim that these kinds of hallmarks are the very characteristics that create formidable competitive advantages for well-performing family businesses.

They say four driving passions, or priorities of family-run businesses ― command, continuity, community and connection ― are the basic elements that are essential for any company to last in the long run.

This book _ full of examples, tips and good guidance for successful firms _ reveals these unconventional success strategies and how they are applied and adopted in companies striving to be successful.

-Cho Jae-hyon