Title: Business strategies of companies with a longevity of 300 years or longer in Japan: a concept model
Authors: Yasuyuki Yamaoka; Hiroko Oe
Addresses: The Open University of Japan, 2-11 Wakaba, Mihama-ku, Chiba, Japan ' Bournemouth University, 89 Holdenhurst Road, Bournemouth, BH8 8EB, UK
Abstract: This study was conducted to explore and evaluate the key factors supporting the business sustainability and longevity of firms that have survived for 300 years and more in Japan. The business owners of ten such companies in Nihonbashi, Tokyo, Japan, were invited to interviews. The interview data was analysed with a text mining approach to develop the key themes advocating these companies' business sustainability. From the research, a conceptual framework was developed, suggesting four key factors perceived by the owners: 'customers and products', 'owner and employees', 'management and business credo' and 'change and risk management'. It was also found that non-economic values and the perception as a member of the community (Sanpo-Yoshi) are embedded in their mindsets, which have been driving forces for these firms' business behaviour.
Keywords: Shinise; long-established firm; business strategy; Sanpo-Yoshi; good for three directions; business model; business credo; sustainability; Japan; a concept model.
International Journal of Management Concepts and Philosophy, 2021 Vol.14 No.4, pp.283 - 295
Received: 17 Feb 2021
Accepted: 05 Apr 2021
Published online: 24 Dec 2021 *