'Thriving' unravels secrets of corporate longevity
Oh Tae-heon, author of “Thriving on Core Business: The Power of Japanese Small Companies” / Courtesy of the authorAuthor says stay focused, be stubborn with core business By Kang Hyun-kyungEvery business encounters good and bad days. Some survive, some take a leap forward through crisis and many are pushed out of business. Why do some businesses thrive, while others fall prey to misfortune? Economist Oh Tae-heon, author of “Thriving on Core Business: The Power of Japanese Small Companies” published by Samsung Economic Research Institute, observes long-living companies have some common traits. Sharing his findings from case studies of 30 small but strong Japanese companies, the author says they are found to “stay focused, think outside the box, remain stubborn with their business focus and never waste resources to diversify business” even though their businesses have gone extremely well. Japanese pencil manufacturer Kita-boshi is a prime example showing how the small company with some 30 employees has managed to survive, and even thrive, despite the
May 17, 2019By Kang Hyun-kyung