Drawing on rich historical materials from both sides of the Pacific, including corporate records and government documents never before made public, Mason examines the development of both Japanese policy towards foreign investment and the strategic responses of American corporations.
Since the bursting of Japan’s bubble economy, from 1990 onwards, its multinational companies (MNCs) have faced new competitive challenges, and questions about the management practices on which they had built their initial success in global markets. Japanese engagement in the international economy has undergone a number of phases. Historically, Japanese MNCs learnt from foreign companies, frequently through strategic alliances. After the post-war ‘economic miracle’, Japanese manufacturers in particular converted themselves into MNCs, transferred their home-grown capabilities to overseas subsidiaries, and made an impact on the world economy. But the period after 1990 marked declining Japanese competitiveness, and asked questions about the ability of Japanese MNCs to be more responsive and global in their strategies, organization, and capabilities. It has been argued that the established management practices of Japanese MNCs inhibited adaptation to recent demands of global competition. This volume presents new case evidence on how Japanese MNCs have responded to the new challenges of the global market place, and it provides examples of how they have transformed strategies and competitive capabilities. This book was originally published as a special issue of Asia Pacific Business Review.
After two decades of reinvention, Japanese companies are re-emerging as major players in the new digital economy. They have responded to the rise of China and new global competition by moving upstream into critical deep-tech inputs and advanced materials and components. This new "aggregate niche strategy" has made Japan the technology anchor for many global supply chains. Although the end products do not carry a "Japan Inside" label, Japan plays a pivotal role in our everyday lives across many critical industries. This book is an in-depth exploration of current Japanese business strategies that make Japan the world's third-largest economy and an economic leader in Asia. To accomplish their reinvention, Japan's largest companies are building new processes of breakthrough innovation. Central to this book is how they are addressing the necessary changes in organizational design, internal management processes, employment, and corporate governance. Because Japan values social stability and economic equality, this reinvention is happening slowly and methodically, and has gone largely unnoticed by Western observers. Yet, Japan's more balanced model of "caring capitalism" is both competitive and transformative, and more socially responsible than the unbridled growth approach of the United States.
Between 2002 and 2008, Japan's economy saw constant expansion, a record among the world's advanced economies and Japan's longest period of economic growth since World War II. This remarkable achievement came about because of a transformation of Japanese business practices. This transformation was guided by strategies that enabled Japan's leading corporations, previously diversified to an exceptionally high degree, to become leaner, more nimble, and more competitive at home and in the global economy. In Choose and Focus, the first in-depth account of this strategic inflection point in Japanese business, Ulrike Schaede argues that the emerging practices and attitudes have created a New Japan. Drawing on profiles of several corporations, including Panasonic, Takeda and Astellas, Softbank, kakaku.com, and SBI E*Trade, Schaede explains how the fundamental principles of Japan's economy have been overturned. "Choose and focus" strategies, whereby corporations concentrate on core areas and spin off unrelated businesses, have completely altered the strategic logic of Japan's previous industrial architecture. These surprisingly aggressive moves, Schaede finds, have created new market opportunities for start-up enterprises and foreign investors, as well as a wave of mergers, acquisitions, and hostile takeovers that have shaken Japanese companies out of complacency. Unlike the advances made by Japanese firms in the 1970s and 1980s, the current transformation is taking root in component and materials industries rather than in consumer products. Because of the relative obscurity of the changes and the overshadowing story of China's ascent, the Japanese corporate revolution has gone largely unnoticed among Western observers. Choose and Focus is required reading for anyone doing business in Japan or trying to understand how contemporary Japanese business works and how Japanese corporations have reinvented themselves to face the challenges—and realize the opportunities—of the 21st century.
Direct foreign investment and the activities of multinational corporations are new dynamic elements in the international economy. This book identifies, theoretically and practically, a Japanese model of multinational business operations which has characteristics differing from the American or "anti-trade oriented" type, and casts light on important policy implications concerning direct foreign investment and multinational corporations. By developing a macroeconomic approach to direct foreign investment, instead of the prevalent explanation from the viewpoint of business administration and industrial organisation, this study adds to current knowledge of the multinational corporation. It endeavours to bridge the gap of separated treatments between international trade and foreign investment, and presents an integrated theory from the viewpoint of a dynamic reorganisation in the international division of labour. The book also includes two introductory surveys on the survey of international division of labour and foreign investment.
Japanese Business Culture and Practices presents detailed insights and descriptions on the proper ways to conduct business with contemporary Japanese. It focuses on the traditional and nontraditional business-related practices, including the internal mechanisms of promotion and decision-making in Japanese corporations. From advice on how to avoid cultural misunderstandings and how to develop trust with Japanese colleagues, readers will gain insights on how to communicate, negotiate, entertain, and socialize with Japanese as well as the minutiae of correct behavior. Using linguistic examples to facilitate how Japanese themselves view their work environment, authors Isao Takei and Jon P. Alston describe the social etiquette and protocols Japanese expect all foreigners to adopt in order to successfully conduct business. With a glossary of terms and practical real-life experiences, this is an essential guide for anyone who wants to forge deeper business relationships with Japanese.
Over the last two decades, Japanese firms have challenged U.S. dominance in many manufacturing industries. This challenge has increasingly come in the form of transplant operations, and recognition has spread that their success owes a great deal to superior manufacturing management. Despite the ups and downs of the business cycle in Japan, there remains a core of world-class Japanese companies that have developed manufacturing management systems that companies throughout the world strive to emulate. In this edited volume, a team of eminent scholars uses case studies and large-scale surveys to explain in depth the process of transferring and transforming the best Japanese Management Systems (JMS) by both Japanese- and U.S.-owned firms. While the most successful of the Japanese manufacturing transplants rely, to varying degrees, on home country management techniques, they have had to adapt them to fit U.S. conditions. Similarly, the growing number of U.S. firms that are adopting these techniques to strengthen their own positions face a considerable challenge in transforming them to fit local conditions. A new environment necessarily compels the transformation of JMS. But despite the hurdles firms face, the evidence presented here and elsewhere strongly indicates that key aspects of JMS are remarkably transferable and successful in the United States. Combining scientific data with clear and engaging prose,Remade in America is a rich analytical resource for manufacturing professionals, as well as scholars and students of management and business.