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This paper aims to discuss key aspects of the longevity of business enterprises across the world. It explores the parameters that set apart a company which had survived for more than 1,400 years from most large companies which survive for a fraction of this time.

The paper integrates observations from two important research papers on the topic, and from the author’s own research.

Contrary to expectations, long-surviving firms are usually conservative about change, exploit their opportunities rather than explore more, diversify in relevant areas, and co-operate even with their competitors to live long.

To those companies that live long, age becomes a valuable resource in itself. Consumers see a continuous track record of a firm as a proxy for good quality, and long history can provide managers institutional memory to leverage toward further sustainability. “Long history” not only can provide anecdotes and stories to employees that exemplify the tacit core values of the firm but also, quite counter-intuitively, could be useful in transforming cultures and traditions.

Longevity challenge encompasses both continuity and change, but the experience filtered from many long-lived firms across the globe provides companies with insights that could inspire many more to live long and prosper.

The purpose of this paper is to demonstrate a multi-dimensional second-order operationalization of strategic planning, to advance the understanding of this construct.

Data on the strategic planning construct were collected using survey questionnaire administered to 123 small and medium-sized manufacturing enterprises (SMEs) in India.

The findings clearly reveal that the strategic planning construct can be effectively operationalized as a second-order multi-dimensional construct.

Data for this study have been collected primarily from SMEs of manufacturing firms. Further investigation in other kinds of firms may help in the enhancement of the construct.

Scholars have long called for using second-order constructs in strategy research. Operationalizing multi-dimensional constructs as unidimensional leads to inaccurate results and interpretations. By demonstrating a second-order operationalization of strategic planning, the authors illustrate better ways of operationalizing a construct. At the same time, this operationalization should help in better understanding of the implications of strategic planning on firm performance.

This case describes the experience of Kanpur Confectioneries Private Limited (KCPL), a family managed company, in being a contract manufacturer for A-One Confectioneries Private Limited. The alliance had worked to the advantage of KCPL. It had prospered as a profitable contract manufacturer. It had used the surplus to diversify into unrelated businesses. The family members, however had doubts regarding the employment opportunities provided by the move. They were not sure whether the progress was sustainable. Alok Kumar Gupta, Chairman and Managing Director of KCPL, along with his brothers and son, is required to review the strategy and performance of his company and develop a course of action for the future.

This case describes the experience of Kanpur Confectioneries Private Limited (KCPL), a family managed company, in being a contract manufacturer for A–One Confectioneries Private Limited. The alliance had worked to the advantage of KCPL. It had prospered as a profitable contract manufacturer. It had used the surplus to diversify into unrelated businesses. The family members, however had doubts regarding the employment opportunities provided by the move. They were not sure whether the progress was sustainable. Alok Kumar Gupta, Chairman and Managing Director of KCPL, along with his brothers and son, is required to review the strategy and performance of his company and develop a course of action for the future.

This case describes the teaching and learning processes in Ayurveda, the ancient Indian system of medicine as explained by Vaidya Hardikar. He practised the system of diagnosis through ‘Nadi Nidan’, pulse reading and treated patients according to the principles of Ayurveda, the ancient Indian system of Medicine. The transfer of knowledge happened through formal and informal processes where he assisted his father and other practitioners in preparing medicines, interrogating the patients and pronouncing diagnosis. The participants can identify and analyze the various processes in the transfer of tacit and explicit knowledge.

Firms take design leaps when they imitate an established business model developed either by another firm or in another market to create business opportunities. While recent research has suggested the use of contextual intelligence for imitation, the exact process of adaptation of a business model is not fully understood. The purpose of this paper is to outline the process through which an emerging market firm adapts a developed market business model for creating business opportunities in the local market.

This paper investigates the journey of Air Deccan, the pioneer low-cost airline in India, from its founding until its successful adaptation of a (Western) business model and eventual failure. The authors use a qualitative case-based approach to study business model adaptation.

The authors find that adaptation involves the incorporation of following design features: novelty to overcome problem of institutional voids, elasticity to exploit unexpected increase in demand and efficiency to serve large volumes. Based on the evidence, the authors suggest the introduction of global efficiency measures as the boundary conditions of business model adaptation in emerging markets.

The paper contributes to the literature on business models by suggesting elasticity as a unique design feature relevant for emerging markets. This paper provides granular understanding of business model toxicity.

Entrepreneurs and managers – looking to enter emerging markets through opportunity creation – should focus on providing contextually novel design features in the adapted business model. The authors also caution practitioners against the perils of toxicity arising out of combining contextual novelty with efficiency.

Recent literature suggests that multinationals need contextual intelligence to successfully monetize their investment in emerging economies. This paper provides rich description of the challenges faced by entrepreneurs in emerging markets, local innovations used to overcome them and boundary conditions.

This case describes the knowledge management (KM) initiatives at the level of a unit of one of the largest chemical companies in India. The unit, Tata Chemicals Ltd, Mithapur, has a unique knowledge base accumulated over generations of experiments, trials, and errors. It is in the midst of implementing a rejuvenation plan that has created opportunities for external knowledge assimilation and new knowledge generation. With details on the initiatives for knowledge collection, sharing, measurement of performance and the systems for rewards and recognition, the case provides an opportunity to the participants of a programme on Knowledge Management to analyze the initiatives and make recommendations for the future to the head of Knowledge Management function at the company. The participants would be able to map the realm of knowledge management in an organization and discern - how KM initiatives contributed to the transformation of the organisation from manufacturing centred mind-set to customer focused one.

This case describes the challenges faced by Amul in organising dairy farmers into a co-operative and creating continuous opportunities for value addition. Participants in the case discussion are required to review the developments in the organisation and recommend a strategy for the future.

This exercise describes the competitive dynamics situation faced by two large companies, Colgate – Palmolive and Proctor and Gamble in oral care business. Both of them introduced a tooth whitening solutions and anticipated to sustain their competitive lead. P&G introduced its solution in August 2000 and Colgate followed it in September 2002. This was followed by another introduction by Colgate April 2003. The intensified the competitive battle between the two companies. The participants are required to get into the shoes of either Colgate or P&G to think through a competitive strategy. The case provides information on the estimated demand for tooth whitening solutions, gains and losses of the two companies, R&D expenditure, players in the oral hygiene market and legal framework for complaining to facilitate the analysis of the situation and decision making by the participants. The case can be used in modules on competitive strategy, innovation, and economics of strategy.

This case provides an opportunity to identify and discuss issues in sustenance of an incumbent's strategy in the changing environment. The context is the practice of Nadi Nidan (pulse diagnosis) and treatment of disorders based on this according to Ayurveda, the ancient system of Indian medicine. It describes the functioning of Bharadwaj Aushadhalay, an Ayurveda clinic run by Vaidyaji since 1955 and presents the history of the clinic, the process by which Vaidyaji learnt the practice of Nadi Nidan, the profile of the patients, the mode of treatment, restrictions imposed by Vaidyaji on the patients, their response and competitive pressures on the system. The case also provides a brief sketch of Ayurveda, its principles, currents trends in the education and research in Ayurveda, and recent advances in diagnostic tools and techniques. The case can be used in courses of Strategic Management in the module on Strategies for Sustainable Competitive Advantage and Knowledge Management.