Each company is an individual living organism. Its life expectancy depends on firm basis and on the depth and extensity of the mission it was created for. There can be either one or several owners and founders who are essential for its further development. Founders define its purpose, set its philosophy and values. Depending on the size of the company, founders themselves or in cooperation with managers create a strategy how to meet the mission.

There are companies which are over a hundred years old and are still developing to meet the mission of the founder. The mission has remained, just the strategy has changed, as it must stay abreast of the times, adopt to new technologies and market conditions. What if a company lacks firm basis because it was set up just for the purpose of earning money?

There are two ways. The company will either go bankrupt due to unclear philosophy of the company or they will choose the way of success at any costs, where the employees and the managers follow the only goal of the owner, i.e., to earn as much money as possible. These two ways affect the market especially in East and Middle Europe where entrepreneurship was forbidden for over forty years. Lack of experience and fair-play business is obvious.

What is the solution?

It is important to put emphasis on clearly defined essence of the company, so called company’s DNA. More emphasis should be placed on the objective of the company as well as on values which the owners and founders appreciate. The development of the company should be based on the values and the way to success must be in the spirit of fair play.

An entrepreneur is a person who is the head of the company and who determines the values of the company. The values must be defined and observed by the entrepreneur, by the company as well as by the employees.

What should be the main aim of the company?

When defining the main mission of the company, added value provided to clients, co-workers and business partners should be the prior aim. A company which tends to stay long on the market, should not consider GAIN to be the main aim. Gain should only be a way how to reach the aim. No company can exist without gain. It is important. But the main aim should be to become a beneficial subject for the others.

Company’s philosophy, vision and pillars

Besides the mission and values of the company’s DNA, it is recommended to define its philosophy, vision and pillars.

Philosophy expresses the principle on which the business model is built. For example, communication with clients. It may also express the attitude to the relationship between people and IT technologies or environmental issues. Other important issues are freedom of people at work, their decision making or their attitude the failures.

Vision needs to specify the founder’s purpose from long-term view. Either from the point of view of business extension or from the point of view of variety of offered services and products. It may include the deadline for meeting the vision as well as definition of the company’s aim group.

Company’s pillars or tools should cover the major areas which are essential from the point of view of regular and long-term time and financial investments. Put simply, the areas need to be in best quality. The areas may include a personal sphere – personal development of people, technologies, or marketing. It all depends on what the owner/founder finds most important to be supported.

DNA in corporate sector

A well-conducted company’s DNA is helpful when we need to create a strategic plan. Even though the owners/founders of small companies make the plans on their own, the defined DNA navigates the company better. In bigger companies is the DNA even a more important tool. It sets limits which help avoid the pressure to succeed at all costs. There are other benefits of the DNA. It may help the corporate sector to have better business relationships and to be fair in cooperation with business partners. It also contributes to longer life expectancy of individual companies with firm basis.