The examined article explains how the longevity of the business can be achieved by the example of the YKK company. The name of this organization might be obscure to an average person, but it is a major player in the field of fastener manufacturing. It has been operating since 1934 and is currently active in 73 countries through 100 wholly owned subsidiaries (Cavusgil et al., 2022, Insight to Longevity section, para. 4).
YKK is a Japanese company; thus, it relies on eastern management principles. The key one of them is offering “better products at lower costs and greater speed” (Cavusgil et al., 2022, Insight to Longevity section, para. 4), which allows YKK to meet ever-changing customer needs and provide high-quality products. According to the opinion of the article’s authors, the longevity and success of YKK result not only from their dedication to quality and customer demand, but from a synergy of other factors. They are listed as commitment to stakeholders, private ownership, company values, local involvement, and agile adjustment to market changes.
Evaluation of the Theory’s Explanation
In my opinion, the authors did a great job at explaining the theory, as they provided a full disclosure of each factor accountable for YKK’s longevity. Moreover, each factor’s description was supported by the numbers or application examples. The explanation was well structured and pointed out the company’s distinct features, such as its Japanese origin, combined with southern U.S. traditions, aspects of the market it operates in, and its differences from similar manufacturers. In addition to that, they provided possible lessons that can be learned from the experience of YKK; thus, other companies that choose their operating strategy can consider these nuances and apply them to their own practice. All this demonstrates, that the theory was explained properly.
Alignment of the Theory’s Purpose and Data Used
It seems to me, that the authors used the appropriate data for supporting the purpose of the article. To provide a thorough analysis, Cavusgil et al. (2022) relied on the data they gathered from the personal visit to YKK subsidiary in Macon, Georgia, where they were able to conduct interviews with key executives. Furthermore, the authors communicated with industry experts and searched information through local business press. They claim to be “trained on field study methodologies, in extrapolating and combining primary and secondary data from internal and external sources” (Cavusgil et al., 2022, Insight to Longevity section, para. 3).
As was previously stated, each of the reviewed aspects of YKK’s longevity is proved by corresponding data. For instance, Commitment to Stakeholders section accommodates the numbers of donations YKK made to the community, and Core Value section provides extract from the company’s policy. Thus, it can be concluded that the theory’s purpose and the used data align.
Alternative Theories to Prove the Purpose
By all means, YKK’ case is not the only one in regards of longevity and prosperity of a business. According to Cavusgil et al. (2022), the same factors that make YKK successful in its field can be applied to other companies, that operate in different directions. For instance, the case of Coca-Cola can be examined, since it is another long-lasting multinational company with a narrow specialization. Coca-Cola is also focused on quality, local embeddedness, strong company culture and commitment to its stakeholders. Therefore, in order to prove the purpose, the case of Coca-Cola can be useful, as well.
Reference
Cavusgil, S. T., van der Vegt, S., & Napier, E. (2022). Lessons in longevity rom an 88-year-old zipper company. Harvard Business Review. Web.