Wednesday, May 25, 2016

Vicki Ten Haken Has New Book Published

Vicki TenHakenVicki Ten Haken had a new book published earlier this year by
Spinner Press of Ann Arbor entitled “Lessons from Century Club Companies: Managing for Long-Term Success.” It suggests five characteristics that help companies become centenarians: strong corporate mission and culture; unique core strengths and change management; long-term relationships with business partners; being active members of the local community; and long-term employee relationships. 

"Leaders of the Century Club companies say these practices build loyalty to their firms, in particular with customers and employees,” said Ten Haken, who is a Professor of Management and the Ruch Director of the Baker Scholars Program. “They also believe their approach to doing business is difficult for competitors to imitate and helps their firms to thrive.” 

Ten Haken’s conclusions are based on surveys of more than 7,000 companies in the U.S. and Japan as well as follow-up interviews and case studies.  She has conducted research on the project for more than 10 years, working with economics professor Makoto Kanda of Meiji Gakuin University in Japan, who was already studying “shinise”—ancient and honored Japanese companies—when they met while she was leading Hope’s Japan May Term in 2004. 

Ten Haken notes that there are more than 600 companies in the U.S. that are more than 100 years old.  The book lists many from Zildjian of Norwell, Massachusetts, established in 1623, through Western Construction Group of St. Louis, Missouri, established in 1915. While the cohort includes firms like the Ford Motor Company, established in 1903, she and Kanda focused on small- and medium-sized, privately owned firms, which in the U.S. represent more than 95 percent of all businesses.

Posted 5/25/2016 03:00:00 PM

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