Business longevity
What is common to Otis Elevators, Alembic Pharmaceuticals, Shalimar Paints from India and companies like Kongō Gumi of Japan or Stiftskeller St. Peter of Austria?
Their years of existence.
While Kongō Gumi has had an existence of 1443 years and Stiftskeller St. Peter has had an existence of 1218 years, these Indian companies have had an existence of only 100 years, breaking records with their sustenance in the market. The ‘third generation rule’ seems to suggest that businesses do not survive beyond the third generation, a debatable theory that conforms to a famous Brazilian saying, “Rich Father, Noble Son, Poor Grandson”.
Challenges to MSMEs: The Indian Context
How does one ensure MSME longevity?
To understand this, it is necessary to note that MSME formation goes through three phases, namely Conceptualisation, Implementation and Establishment.
هذه القصة مأخوذة من طبعة Efficient Manufacturing - July 2023 Issue من EM - Efficient Manufacturing.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة Efficient Manufacturing - July 2023 Issue من EM - Efficient Manufacturing.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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