Should Companies aim for longevity or growth?

Context: It was just an ordinary pastry shop, about the size of a barber’s shop; I do not think there was enough room to sit and eat. This pastry shop has made me reflect and ask tough questions about the longevity of companies in Africa. The pastry shop is in Nottingham, UK, on a busy street with lots of cars speeding by but with low foot traffic. What caught my attention was not the location or ambience of the shop. I have never stepped into this pastry shop, and I have no idea what the inside looks or feels like. However, the signage on the shop says, “celebrating 75 years anniversary.” I was in awe – 75 years was not a joke!

Not too far from the pastry show was a small barbershop. My son and I cut our hair in the shop. I started a conversation with the barber on a particular afternoon, and he told me the shop had been in existence for 60 years. The father handed it to his son, but even though the son had other interests, he kept that establishment running, and you could see queues of men waiting to have their hair styled. To say I was impressed will be an understatement. What would have easily counted for an informal sector establishment in several parts of Africa was in its third generation!

These companies are similar to the Japanese Shinises that I discussed in an earlier post. However, except for a few, these companies typically remain small. Being small and nimble has fostered their ability to reorient themselves and evolve over the years.

Question:Does longevity conflict with growth? Can a company have both?