Eaton (NYSE: ETN) traces its history to 1911. Back then it supplied parts for trucks. It still does. But it has grown massively and, frankly, looks nothing like it did a century ago. And that's the reason I've owned this industrial giant for seven-plus years, with a plan to own it for decades into the future.

Arie de Geus wrote a book called The Living Company, which came out of research he conducted into company longevity while working for . Although it's a book about how to manage companies, the important takeaways for investors are that most companies are gone after 30 years or so. The ones that last beyond that often take a different approach, including a belief that the company has to do whatever it takes to remain "alive." That's not just a corporate slogan; it's an ingrained ethos that infuses a company with purpose. 

Image source: Getty Images.

Continue reading

Source Fool.com