... 1. What were the triggers of cultural change in Japan during the 1990s? How is cultural change starting to affect traditional values in Japan? The triggers to Japan changing culture came by way of the “new kids on the block” thinking and becoming more focused on individualism than collectivism. Those participating in the new Japan no longer believe in the Japan is moving towards more individualism than collectivism after the economic bubble. Nonetheless, this is a good opportunity for Japan to adapt to the globalization world and be more competitive. The cultural change will lead to greater mobility of employees, which means people will move around jobs more than before 1.What were triggers of culture change in Japan during the 1990s? how is cultural change starting to affect traditional values in Japan? Cultural change in Japan was triggered by the economic recession in the 1990’s. Traditional Confucian values focused on loyalty, high moral and ethical values and set the pathway for relationships with others in traditional Japanese businesses. When the generation born after 1964 lacked the same commitment to traditional Japanese value as their parents but they grew up in a world that was richer, where western ideas were beginning to make themselves felt, and where the possibilities seemed greater. They did not want to be tied to a company for life, they become a salary man. Traditional ways of doing business and perceptions of the loyal, hard-working salary-man...
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...1. In the 1980s Japan was viewed as one of the world’s most dynamic economies. Today it is viewed as one of its most stagnant. Why has the Japanese economy stagnated? The Japanese has stagnated due to Japanese banks. The banks over lent, made it easy to borrow and in turn created bad debt, it make it difficult to replace the money borrowed and cause a deficit causing the deflation in the country. “The Nikkei average plunged from nearly 39,000 points in December 1989 to about 14,300 points in August 1992, thereby losing about 60% of its value. As a result, investors lost the equivalent of (U.S.) $2 trillion and property values plummeted by about $10 trillion. Property values in certain parts of the country declined by 70% and plunged Japan into a deep recession for 10-years.” (Alston, 2013) To summarize the stock market collapsed, property prices dropped, banks curtailed the easy lending practices the created the economic boom, consumer spending halted- recession created, deflation, and the Japanese government was unsuccessful 2. What lessons does the history of Japan over the past 20 years hold for other nations? What can countries do to avoid the kind of deflationary spiral that has gripped Japan? Other nations can learn from what happened with Japan. Strict lending practices should have been in place to begin with, this would help decrease the amount of bad debt. The Government need to watch its spending. Japan is stuck because its debt is so high, it is extremely...
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...transmitted to generations and generations thereafter. I chose Japan because they appear distinctly different in business interactions than the United States, and as an accounting major, I have an interest in how various cultural traits may or may not determine a way a country conducts business in the global community. My research will include analysis of various dimensions of culture to include: communication, religion, ethics, values and attitudes, manners, customs, structures and organizations within Japan’s culture, and education. The analysis should reveal how the elements and dimensions of culture influence businesses conducted with locals of the region; how do the elements and dimensions as well as the local business interaction compare to the United States’ culture and local businesses; and, implications for United States’ businesses who wish to conduct business in Japan. Although the fore mentioned are the basis of the cultural analysis, I hope to unfold how past/ current political constraints limits Japan’s maturity within the global community, for example, the limitations imposed by the signing of Treaty of Mutual Cooperation and Security. Over fifty years ago, Japan and the United States signed the “Treaty of Mutual Cooperation and Security,” to assist in the containment of Communism that was overtaking the Asian community. The cooperation between the two countries is still strong, and with Japan being the third largest economy, how does this treaty limit its...
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...Truly “Under Control?” 2020 Olympics in Japan Mar. 2011 Fukushima Daiichi nuclear disaster Feb. 2014 Additional leaks at Fukushima nuclear plant X O immediate health threat, high rates of cancer in Japan. 1 / 2 / Imports and Exports 3 / Implication for Business National Brand Image of Japan & Domestic Markets Impacts on National Image of Japan 1. Decline Brand Finance Nation Brand 2010- 3rd ↓ -25.9% 2011- 4th ↓ 2012-4th ↓ -11% 2013-5th 2. Decline Expected growth rate of Japan Expected growth rate Many company leave Japan 2010- 3.9% ↓ 2011- 0.3% e.g) Michelin, Hyundai car Liberty Global Carrefour, Versace Reported by Bank of Japan Reported by KJC Impacts on Domestic market Fukushima- Big agricultural & Fishery area in Japan →Major products were agro-fishery products Radiation Leak Consumption in country decrease rapidly The price of product plunge Income decrease 2 / Imports and Exports Nation’s earthquake on production plant Fukushima Nuclear crisis Nation’s earthquake Nuclear crisis -Acceleration of disconnection Exporting in supply chain -Loss in Blance of trade -Major trading country’s import ban on food in 30 years Imporitng -To Substitute on delay of domestic production -To run heat power plants, mineral fuel importing increased Impacts on exporting 1. Acceleration of disconnection in supply chain ...
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...My name is Dermot Vibert. I work with Rio Tinto Japan. On March 11, 2011 I was in our office when we were hit by an extremely strong earthquake. Among the many issues we faced immediately after the earthquake was what would we do on the Monday morning when we had to supposedly return to the office and recommence business. What caused this issue to arise and why is it important? B) Causes Identify the importance of the Causes to the organisation concerned. What Caused these Issues to arise? The reasons underlying the Issues will be explicit in the Causes identified. The earthquake in the afternoon of March 11 was, although it struck 520 kilometers from Tokyo, it was an extremely strong one for us in Tokyo. The buildings shook severely two or three times, and then many, many times thereafter because of the aftershocks. On at least two occasions we had to go under our desks with our helmets on and literally hold on to the legs of the tables. It was that strong. The earthquake knocked out a lot of the power system, and as a result the trains were not able to function normally, and because there was not enough power as well, things like traffic lights, lights in buildings, etc., all these things were affected. There were many unknowns such as what damage there really was in the Tokyo area, for how long would trains not be running, would there be adequate food in two or three days time, what was going to happen with fuel supply, because when we were watching on television,...
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...culture of Panasonic established in Japan in 1920. Japanese culture hasn’t changed but the world around Japan has changed. Panasonic tried very hard to adhere to the values that were already in motion but as the times changed so did Panasonic. Although this was a drastic change it allowed Panasonic to grow. “As the decade progressed, one Japanese firm after another was forced to change its traditional ways of doing business” (Global Business Today, 2011, pp. 126). Globalization played a huge role in the outcome of the Japanese businesses. Questions 1. The triggers of cultural change in Japan during the 1990s were that the generation born after 1964 wasn’t as motivated and grew up in a much richer and prosperous Japan. Another trigger was that the Japanese economy was sucked into a slump. Due to the fact that the companies in Japan were trying to keep their traditions and values, keep their employees happy and maintain good and efficient business caused the companies to suffer. Cultural change is starting to affect traditional values in Japan because it is causing companies to change their values. Companies are no longer following the set of values and folkways from previous years. They are beginning to follow the same rules and regulations of the society. Panasonic was also letting go of employees and modifying the social structure to better fit the company. 2. Japan’s changing culture might influence the way Japanese business operates in the future because...
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...Japanese culture. As I grew up watching “Japan Hour” on TV, I remembered admiring their serene way of life, picking salmons in their back yard and cooking it fresh, always to the delight of the guests squealing “Oishi!” at the first bite. Nothing beats the scenery of their natural environment, and having seen the vast size and beauty of Japan in television, I told myself that one day, I would like to explore as many cities as I can over there. Looking into my household, I remembered how Japan made products are always favoured by my father as compared to China or even some US made products because of the attention to quality found in the Japanese workmanship. Growing up, I used to find their conservativeness & strict attitude highly admirable, and now at this stage of life, I’ve come to learn that beyond their personal life, their distinctive cultural characteristics also encompasses the way they lead their businesses and nation. Cultural analysis of Japan The Japanese population of 128 million people in Japan are mostly found in the coastal areas and urban regions due to the mountainous nature of the country. There are three main metropolitan areas – Tokyo, Osaka and Nagoya, with Tokyo having a population of 30 million. Tokyo is the largest city in the world. Every country has its own unique culture. There is no sense in saying that one country is more unique than the other. Except when it comes to Japan. In many ways Japan resembles Europe or even US, but it also...
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...Subject: Matsushita and Japan’s Changing Culture Question #1: What were the triggers of cultural change in Japan during the 1990s? How is the cultural change starting to affect traditional values in japan? Answer: Some triggers that started the cultural change in japan were; the spread of Western ideas making their ways felt, possibilities in the areas with the Western ideas seemed greater, and the Japanese economy prolonged economic slump. The change is affecting cultural whereas workers are not willing to be “salary-men” anymore and no longer want to be with one company for the entirety of their working career. Question #2: How might Japan’s changing culture influence the way Japanese businesses operate in the future? What are the potential implications of such changes for the Japanese economy? Answer: The changing culture is going to change the Japanese business operations dramatically. One reason why is that companies are going to start hiring less workers because of the increasing age and employment time of the current employees. It will also cause companies to adapt quicker to the changing trends of the consumer. Implications that could be added to help companies with the changing culture would be to get a jump on what they think would be the next trend so they will not be left behind. Another one that could be added would be good retirement benefits so that employees won’t stay with the company all their and will want to retire. Question #3: How did traditional...
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...Case Analysis Dorinda Scott Business 427 November 4, 2012 Ronald Perotti Founded in 1918 by the Japanese businessman, Konosuke Matsuchita, as an Electric Housewares manufacture, Panasonic emerged three decades after the end of World War II as a symbol of Japan post war economic success. Imbued with the belief that the role of a corporation is to devote itself to the progress and development of society at large, Panasonic’s management closely aligned the company’s culture with the social values of Japanese society, which put a strong emphasis on group identification, social obligation and loyalty. Panasonic took care of its employees by providing a wide range of benefits, such as subsidized housing, lifetime employment and generous retirement. In return, employees worked very hard for the greater good of the company and were indeed very loyal to management. That arrangement, according to many corporate observers, proved to be a very successful formula for the growth and evolution of the company, for by 1970’s Panasonic had emerged as a major international player in the consumer electronics industry. However, by the beginning of 1990’s, Japan found itself in the grip of a severe economic downturn, which coupled with the emergence of a new generation of Japanese who had begun to get exposed to western ideas of individualism and constant exploration for better and greater opportunity, the traditional formula, which had been very fruitful for Panasonic became obsolete as...
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...programs might be transferable both in general and in particular in respect the China and Japan, two major Asian markets in which MKC does not have a presence. Dandurand must decide whether to enter either or both of these markets (or neither) and, if so, what marketing entry strategy to pursue. This case gives your global marketing team the opportunity to: 1) explore why two companies (Avon and MKC) in the same business (the direct selling of cosmetics) differ so greatly in the percentages of their sales that are international 2) examine the transferability of a corporate value system developed in the United States to foreign subsidiaries 3) identify the criteria that should determine which country markets a multinational should enter and to assess two countries against these criteria 4) contrast the implications for marketing strategy and tactics of being a late entrant in a mature market versus a relatively early entrant in an emerging market The objective of the case is to focus on the following issues and dilemmas: 1. Why has MKC not been as successful as Avon in penetrating international markets? Answer in terms of the following: • Compare Avon’s international sale as a % of total revenue vs. MKC. Using the information in your case study as of 1993, make a chart (similar to a country comparison chart—complete with a third column “Implications for MKC’s Marketing Strategy”, comparing Avon to MKC in terms of Revenues, Non-U.S. revenues...
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...International Business: Japan – Culture, Infrastructure, & Foreign Investment Strategy Historically, Japan has remained one of the most culturally separate identities in Asia, carefully guarding its way against foreign incursions. In modern trends though, a significant portion of its population has begun to travel abroad, while the majority of the remainder has largely remained ethnically indigenous. While Japan has gradually started to open itself toward foreign investment in measured strides, its culture has nonetheless remained structurally rigid, and has posed yet another distinct challenge to the Western and evolving standards. And as many macro-corporations have been dismayed to discover, penetrating this market can be painstakingly difficult, impossible without first fully understanding the landscape and trends of its culture, as well as its social implications. The business practices of the Japanese are the offshoot of the culture. In Japan, when individuals join a firm they become part of the firm's family or community. Therefore, he is expected to become the embodiment of the spirit of the company. The employee dresses in corporate uniform and participates in group activities. A lot of the time life employment is the result, the loyalty of the employee is assured, and the firm becomes a stronger unit. The concern for the business as a whole is seen in the practice of consensus decision-making. The decisions made by the group are better than a decision...
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...Economic Research Macro Commentary THE JAPANESE EARTHQUAKE: ECONOMIC IMPACT ON VIETNAM March 2011 Vietnam Alan T. Pham, PhD Chief Economist I. II. Background On Mar 11, 2011 an earthquake measured at 9.0 on the Richter scale struck the Sendai region in north east Japan. It was followed by a tsunami wave that hit the shore, causing widespread damage and loss of life. At last report, the number of deaths was put at 6,000. Total damages were estimated by insurance companies at more than USD300 bn. This number is sure to increase as a more careful survey of the devastated areas is made by insurance agents. Capturing most of the headlines was a radiation leak at the Fukushima Dai-Ichi nuclear generator. The danger from this source, if any, is said to be limited geographically to Japan. But such news tends to carry an emotional effect, because similar reactors are used in other countries to generate electricity. Analysis 1. Implication for the world economy VinaSecurities Sunwah Tower, 5F 115 Nguyen Hue, District 1, Ho Chi Minh City, Viet Nam T: +848 3827 8278 F: +848 3827 8368 E: sales@vinasecurities.com W: www.vinasecurities.com Bloomberg: VNSC Economic Research Alan Pham, PhD, Chief Economist Nguyen The Cam Hoan, Manager Huynh Phu Sy, Analyst T: +848 3827 8278 F: +848 3827 8368 E: economics@vinasecurities.com The global impact deriving from this disaster is likely to be limited. ...
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...1.What were the triggers of cultural change in Japan during the 1990s? How is cultural change starting to affect traditional values in Japan? A. The burst of the “Bubble Economy”, Japanese generation lacked the same commitment to traditional values. Privatisation of a large number of public corporations since 1980, Expansion of operations in Western and Asian regions. B. Changes to HR policies, New recruitment techniques, and individual benefits. Shift towards individualism. 2.How might Japan’s changing culture influence the way Japanese businesses operate in the future? What are the potential implications of such changes for the Japanese economy? Employees still get benefits but not based on seniority. This leads to a more service based efficient economy. More focus on individualism, loss of employee loyalty, changes to HR startagies, Westernized younger generation, high women contribution, free worker concept Negative implications, outsourcing, low employee engagement, low synergy in team work 3.How did traditional Japanese culture benefit Panasonic during the 1950s–1980s? Did traditional values become more of a liability during the 1990s and early 2000s? How so? It benefited from Confucian values. Built teamwork inside the work place, created strong ties of loyalty, Emphazides harmony and coroporation among employees, Created a more collaborative work place. Employees seeked job security, and retirement, guided by many rules and procedures., employees...
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... 2 2) Introduction – Japan’s aging population and the implications to its economy 3 3) Article summary 4 4) Fiscal and Social Implications 5 5) Japan, against uncontrollable forces 6 6) Unemployment 6 7) What policies should the government implement 7 8) Conclusion 8 9) References 9 10) Attached Article 10 & 11 2. Introduction - Japan’s aging population and the implications to its economy Japan is an island nation located in the Pacific Ocean, east of Asia. With neighbouring countries such as China, North and South Korea, and Russia, Japan is ranked 36th among the world in terms of population density. Japan houses up to 128 million people as of 2012 with a per capita...
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...Chelsea McCann 1. Describe the shifts in the world economy over the last 30 years. What are the implications of these shifts for international businesses based in Great Britain? North America? Hong Kong? As stated in chapter 1, Along with globalization, there has been a significant change in demographics of the global economy over the last 30 years. The aspects that contributed to demographics throughout the 1960’s were U.S. dominance in the world economy, world trade picture, world foreign direct investment, and on the international business scene. Also, much of the world economies were off-limits to Western international business. The demographics of the multinational enterprise have displayed not only a rise of non-U.S. multinationals but also a growth of mini-multinationals. In 1973, 48.5 percent of the 260 largest multinationals in the world were U.S. firms. The second leading country with the largest multinationals was the UK. While these countries, along with France, Germany and Japan, are still determined to be the largest multinationals, developing countries are on the rise. Firms from these developing countries are expected to give rise to leading competitors, which would continue to shift the world economy away from North America and Great Britain. The United States’ share of the world output has decreased from 40.3% in 1963. The decline has been a result of the growing industrialization of countries such as Great Britain, North America and Hong Kong...
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