Managing The Times Businesses Evolve To Thrive

THE TERM “HERITAGE” is versatile. Cambridge Dictionary defines it as a feature belonging to the culture of a particular society; formed in the past and possessing historical importance. Its legal definition, however, varies from country to country. In India, the legal threshold of antiquity is for objects to be in existence for 100 years or more, and 75 years for manuscripts and documents. The UK sets 1700 as its “cut-off” date for historicity. In Malaysia, Australia and the US, the trigger for heritage assessment and/or listing is 50 years. All this differs from case to case. Heritage is what is accepted as such by members of the society in question.
In the case of Penang’s intangible commercial heritage, how do businesses, brands or trades evolve to become heritage-worthy? This is in essence not a legal question. Often, these must pass the test of time while maintaining unchanged core values from their founding and, most importantly, still thrive.