Live Long and Prosper
The Bottom Line
BBC
4.6 • 606 Ratings
🗓️ 6 November 2014
⏱️ 28 minutes
🧾️ Download transcript
Summary
Very few companies survive for centuries. Evan Davis hears from a luxury jeweller, a removals firm and a diversified business that makes money from ships, finance and groceries. Between them they have nearly a thousand years of business experience. What strategies have they embarked on to ensure that they live long and prosper? Has their history become a burden or a motivator? And have they sacrificed growth for corporate longevity?
Guests: Sir Michael Bibby, MD The Bibby Line Michael Wainwright, CEO Boodles Stuart Burnett, Partner Shore Porters Society
Producer: Rosamund Jones.
Transcript
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| 0:00.0 | Thank you for downloading this program from the BBC. In this edition of the bottom line, |
| 0:04.6 | Evan Davis talks to guests from companies which between them have been in business for nearly |
| 0:09.2 | a thousand years. How have they managed to live so long? Hello and welcome to the program. |
| 0:15.7 | Today we're going to talk about how to live long and prosper, that is, as a company rather than a human being. |
| 0:22.4 | When you look at the statistics, you find there is a high rate of infant mortality among |
| 0:26.8 | companies, and it's certainly hard to get them to survive beyond middle age in human terms. |
| 0:31.7 | But there is a small group of firms and organisations that have lived longer than any human |
| 0:36.6 | being on the planet. |
| 0:38.2 | And I have three guests today from such companies to set out the secrets of corporate longevity. |
| 0:44.6 | And let's start by meeting them. |
| 0:45.7 | And before I talk to you all in a bit more detail, I just want to ask you all to tell me when |
| 0:50.9 | your company was founded. |
| 0:51.9 | And I think we'll do this in descending order. |
| 0:55.7 | So first, Sir Michael Bibby, MD of the Bibby Line Group, when was your company was founded. I think we'll do this in descending order. So first, Sir Michael Bibby, |
| 1:01.4 | MD of the Bibby Line Group. When was your company set up? We were founded in 1807 by John Bibby. |
| 1:07.9 | John Bibby. Same name. Same name, same family. Got it. Okay, Michael Wainwright, also in Michael, |
| 1:17.9 | Chief Executive of Boodles. When was Boodle set up? We were established in 1798 in Liverpool. My family have owned it for six generations, which is since about 1880. Goodness gracious. Okay. And last, Stuart Burnett is a partner in the Shaw Porter Society. |
| 1:24.6 | Note that name, Society. How far does the society go back? |
| 1:28.9 | Well, we're the old man of the business 1498. |
| 1:31.7 | 1498? |
| 1:32.9 | Indeed. |
| 1:33.0 | That is ridiculous. |
... |
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