...Can the concept of ‘early’ and ‘late’ industrialization explain the key institutional and organizational characteristics of national business systems, and do they have any bearing on long-term national competitiveness? Introduction The concept of industrialization has been used among different nations and regions, while many countries have carried out their own industrialization progress during the past several decades, which stimulates the development of organizations and better corporate performance. There are different kinds of national business systems with their distinctive characteristics varying among countries. Then ‘early’ and ‘late’ industrialization is applied to describe two main types of national businesses that existing in developed and developing countries, which explains the key institutional and organizational differences among countries in particular to some extend. Each country has fallowed different pathway and carried out their industrialization in different period. It is known that the UK is the first country that achieved early industrialization revolution, which was followed by the US. And then in the late twentieth century, Germany, Japan and China implemented their industrialization process with dramatic change on their economic performance. The purpose of this essay is to use the conception of ‘early’ and ‘late’ industrialization to explain the key institutional and organizational characteristics of national business systems by comparative perspective...
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...Quality Practices in Modern China Issue 1. Do you see any parallels between today’s Modern China and post-World War 2 Japan? What differences are evident? Parallels • Both cultures are rich and traditional, unified or nationalistic, and have similar religions, and values (Padmalingam, 2002). • Rapid urbanisation – the move from an agricultural based society to a manufacturing (and thus urbanised) society. • Democratisation – from a centralised government to capitalist, moving from an insular to outward looking culture. • Both Japan and China have imported their technology, relying upon imitating the inventions and ideas of others. This is changing however as modern quality management is embraced. • Preference for high growth over low growth. Chovanec (2011) says of Post-W2 Japan that “Inflation was low, and there were no external constraints”. Further, he states that Money Supply and Private Fixed Investment factors are paralleled between post WW2 Japan and China today. He infers that this “high growth has spending “out of control”. With such money to spend, quality systems are easily afforded. The subject of Chovanec’s article is that the growth is unsustainable and dangerous, with China set to follow Japan’s lead and head into recessionary financial territory. • Fast growing economies that are encouraged and supported by governments. • Both countries have economically benefited from conflict and wars, as the rate of technology improvement and economic...
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...China and Japan shared many differences in their late years. The differences between late China and Japan I will discuss are their gardens, ceramics, and painting: Gardens: China utilized the practice of cultivating man made and designed gardens that took on the appearance of a naturally occurring garden/landscape. Meanwhile the Japanese utilized Zen Gardens which were often big yards that contained sand a few large rocks instead of the usual grass and trees. The Chinese gardens were to obtain the fully natural beauty of nature in an unnatural place, while the Japanese Zen gardens were to aid in the Japanese practice of Zen Buddhism through repetitive meditative work. Ceramics: The Chinese and Japanese also had differences in their sculpting....
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...It is necessary for most companies in the world who wish to broaden their business to expand to foreign markets. Thus, companies expanding internationally must consider the environment in their new country. There is no better way to explore said environment than by conducting marketing research in the area so as to formulate the most appropriate marketing strategies. Nevertheless, companies entering a new market still encounter difficulties even if they employ a marketing strategy because they make several critical mistakes in their marketing. Be it cultural misunderstandings, systemic political differences, or a poor understanding of the market conditions in a given country, marketing mistakes damage a company’s ability to enter (Ghauri and Cateora, 2010). While political differences or a poor understanding of the market strongly impact success in a foreign market, the slightly larger issue that multinational corporations encounter are due to cultural misunderstandings. However, the impact that cultural misunderstandings have on success in a foreign market is dependent on the industry in question. In some industries, international marketing mistakes can often be rooted in the lack of understanding of different cultures such as the aspects buying behavior and product preference. Take the retail industry for example, since the purchasing behavior of customers varies by region, foreign retailers might usually make marketing mistakes due to insufficient knowledge of a given region’s...
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...1) Why did China become weaker in the late 19th century? Be specific and provide details to support your answer. China became weaker in the 19th century because of British control. There was a war between China and Britain over the opium trade, called the Opium Wars. Britain then forced China to sign The Treaty of Nanking (aka the Unfair Treaty), which forced China to pay Britain $18 million for destroyed opium and war costs, give Britain Hong Kong and 5 other treaty ports, tariff all British goods at 5%, and force China to sell the same thing to Britain as it does with other nations. The Chinese fought against Britain and French, but it only made the country weaker and poorer. There was an unsuccessful rebellion, Taiping Rebellion, that severely hurt China. 2) Why was Japan weak in the 19th century, and why did Commodore Perry's arrival spark a crisis in the shogunate? Be specific and provide details to support your answer....
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...Quality Practices in Modern China Issue 1. Do you see any parallels between today’s Modern China and post-World War 2 Japan? What differences are evident? Parallels • Both cultures are rich and traditional, unified or nationalistic, and have similar religions, and values (Padmalingam, 2002). • Rapid urbanisation – the move from an agricultural based society to a manufacturing (and thus urbanised) society. • Democratisation – from a centralised government to capitalist, moving from an insular to outward looking culture. • Both Japan and China have imported their technology, relying upon imitating the inventions and ideas of others. This is changing however as modern quality management is embraced. • Preference for high growth over low growth. Chovanec (2011) says of Post-W2 Japan that “Inflation was low, and there were no external constraints”. Further, he states that Money Supply and Private Fixed Investment factors are paralleled between post WW2 Japan and China today. He infers that this “high growth has spending “out of control”. With such money to spend, quality systems are easily afforded. The subject of Chovanec’s article is that the growth is unsustainable and dangerous, with China set to follow Japan’s lead and head into recessionary financial territory. • Fast growing economies that are encouraged and supported by governments. • Both countries have economically benefited from conflict and wars, as the rate of technology improvement and economic benefit...
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...1. Do theories of late industrialization explain national differences in the institutional and organizational characteristics of contemporary business? How do these ideas help to explain variations in economic performance? The level of economic development of the country effects development of institutions and characteristics of the business, which in return affect performance. In first part of the essay we will discuss early industrialisation and different theories of late development. After discussion will lead us to key institutions: financial markets, textile industry in relation to business group and labour market and steel industry with relationship to government intervention. In the conclusion we will discuss the current situation, highlight that there is no perfect system. There are many factors that effect economic performance and in order to be successful the changes in the world should be accommodated with the changes in institutions and organisational characteristics. The main characteristics of industrialisation are changes from agricultural to industrial economic structure, substitution of machines for human skills and replacement of home-made by purchased in stores goods. The First Industrial Revolution happened in early 18th century in textile industry in UK, they had technological means, right institutional and organisational characteristics, government encouragement, and a large and varied trade network. Britain became the world's leading industrial...
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...We observe very large and rapid declines in the policy rate (the very short rate) in late 2008 and early 2009. Considering the US, the UK, and Japan, did long rates fall as much around that time or less or more? In late 2008, many developed economies where in or close to recession, with growth slowing noticeably in the emerging economies. These events prompted an easing of monetary policy and expansionary fiscal measures in many countries (Reserve Bank of Australia, 2008). The policy rate is the target 'cash rate' set by central banks. This is also the market interest rate on overnight funds, which is used as an instrument for monetary policy (Mishkin, 2013). The long rate is also known as Government securities, or ten-year government bonds. After conducting an analysis from the data in graph 4.1 and 4.4 (Appendix 1) of the Bank for International Settlements 2012 Annual Report (Chapter 4), it can be said that the long rate fell less than the policy rate on average. The results were as follows: In the US, the long-term rate fell from 3.75% to 3.00%, a change of .75 percentage points (bps), whereas the policy rate fell from 2.00% to 0.25%, a change of 1.75 percentage points. This indicates that the long rate fell less than the policy rate. In the UK, the policy rate declined noticeably compared to the long rate during this time. The UK’s policy rate experienced a rapid fall from 5.00% to 0.50%, a change of 4.50 percentage points. The long rate did not experience...
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...Issue 1. Do you see any parallels between today’s Modern China and post-World War 2 Japan? What differences are evident? Parallels • Both cultures are rich and traditional, unified or nationalistic, and have similar religions, and values (Padmalingam, 2002). • Rapid urbanisation – the move from an agricultural based society to a manufacturing (and thus urbanised) society. • Democratisation – from a centralised government to capitalist, moving from an insular to outward looking culture. • Both Japan and China have imported their technology, relying upon imitating the inventions and ideas of others. This is changing however as modern quality management is embraced. • Preference for high growth over low growth. Chovanec (2011) says of Post-W2 Japan that “Inflation was low, and there were no external constraints”. Further, he states that Money Supply and Private Fixed Investment factors are paralleled between post WW2 Japan and China today. He infers that this “high growth has spending “out of control”. With such money to spend, quality systems are easily afforded. The subject of Chovanec’s article is that the growth is unsustainable and dangerous, with China set to follow Japan’s lead and head into recessionary financial territory. • Fast growing economies that are encouraged and supported by governments. • Both countries have economically benefited from conflict and wars, as the rate of technology improvement and economic benefit improves in such scenarios...
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...Ricci 622624 Word Count: 2018 Why do we sometimes refer to the events of 1868 in Japan as a 'restoration', but to those of the years following 1911 in China as 'revolutions'? Introduction The Meiji Restoration of 1868 in Japan and the Chinese Revolution of 1911 were responsible for producing an enormous amount of upheaval in both countries. Both nations were immersed in social, political and economic backwardness. In this context, both political episodes should be construed as an attempt to reverse decline and set the course for modernization. The main thesis of this essay is based on the notion that whilst there are some similarities between both political events, the main difference resides in the fact that the Meiji Restoration began the centralization of the mechanisms of governance and induced the social and economic modernization of the country. At the same time, the Chinese Revolution of 1911 did not succeed in engendering a sound system of government capable of reversing the country’s decline. The first part of the essay will deal with the main characteristics of the Meiji restoration of 1868. The second section of the essay will outline the main features pertaining to the Chinese Revolution of 1911. The third part of the essay will examine the similarities and differences between these two events, with the ultimate purpose of determining the qualitative differentiation to be made between the concepts of “restoration” and “revolutions”. The main characteristics of the...
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... | | | |SECTION: ASIAN AGENCIES, Pg. 31 | | | |LENGTH: 1218 words | | | |The difference in the business cultures of Asia and the West can take time to get used to for new staff. Vicki Rothrock | |considers the East-West divide | |A big presentation is looming. The manager gathers his team together for an old-fashioned brainstorming session in the | |boardroom. Once everyone gets settled, though, he...
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...“England and Japan” England and Japan both, which are island nations, have a lot of difficult obstacles, which they must over come to be stable and successful nations. Both shares a rich and vibrant history but on opposite ends of the planet. They both import and export a wide variety of items from different industries. Each island nation has its own special geographic features that are unique to their own nation. England and Japan that they are on two separates sides of the world makes them vastly different in history, geographic features and exports. England, which is an island country that makes up the lower third of the United Kingdom, has geographic features that range from grass plains to mountains. Towards the south of the island you will find more of grasslands, farms, flatlands, and a hilly environment. Then if you more north of island you’ll find a rockier, mountainous environment where you find a bit less wildlife because this area is considered tundra due to the lack of rainfall in this area. While if you take a look at Japan it also is an island country but it doesn’t range in geographic features as widely as England. Japan is really limited to about two major geographic features. These features are a mostly mountain, which makes up about 70% of Japan’s land. The other major feature would be plains, which are far, and few between. Japans has a lot of different imports and exports because like England they are a island nation which lacks some resources exports...
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...Can the distinction between 'late' and 'early' industrialization fully explain the origins and long-term competitiveness of national business systems? Rostow (1978) was a theorist who studied the competitiveness of national business systems, and concluded that there were a number of common characteristics of modern economic growth. Modern economic growth is usually accompanied by underlying characteristics such as a rise of the use of technology in production and a shift from agriculture to production. Political, institutional and cultural changes also usually occur alongside economic growth. Rostow's theory was better to suited to Anglo-American economies, and assumes there are definitive, sequential steps in developing economies. The preconditions stage assumes that nations undergo an industrial revolution, with advances in agriculture and food production. In this initial stage, technology is developing and there is plentiful investment. The second stage is the take off stage, where capital accumulation rises sharply, with living standards improving and changes within institutions and the culture. This stage may take several decades to complete. The final stage is the maturity stage, where the economy is developed enough to become a self sustaining process. Porter also provided a framework of how firms and industrial sectors may gain competitive advantage, but he doesn't specify the variations between nations or give enough weight to the...
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...Can the distinction between 'late' and 'early' industrialization fully explain the origins and long-term competitiveness of national business systems? Rostow (1978) was a theorist who studied the competitiveness of national business systems, and concluded that there were a number of common characteristics of modern economic growth. Modern economic growth is usually accompanied by underlying characteristics such as a rise of the use of technology in production and a shift from agriculture to production. Political, institutional and cultural changes also usually occur alongside economic growth. Rostow's theory was better to suited to Anglo-American economies, and assumes there are definitive, sequential steps in developing economies. The preconditions stage assumes that nations undergo an industrial revolution, with advances in agriculture and food production. In this initial stage, technology is developing and there is plentiful investment. The second stage is the take off stage, where capital accumulation rises sharply, with living standards improving and changes within institutions and the culture. This stage may take several decades to complete. The final stage is the maturity stage, where the economy is developed enough to become a self sustaining process. Porter also provided a framework of how firms and industrial sectors may gain competitive advantage, but he doesn't specify the variations between nations or give enough weight to the...
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... March 22, 2012 1-4-30 Sakawa sakura-ku Saitama city, Tokyo Japan SALES CONFIRMATION Dear Sirs, Your merchandise has been confirmed and the following is the information: Article: Ladies Slippers Specification: 3 colours assortment with green, red and black Quality: As per our sample airmailed on February 13, 2012 Quantity: 2000 dozen pairs Price: US$12.20 per dozen pair CIF Tokyo Amount: US$24400 Packing: 20 dozen pairs per carton about 1 cbm Shipment: Two weeks after receiving sight L/C Destination: Tokyo, Japan Payment: Draft at sight under an irrevocable letter of credit to be opened by the end of April, 2012 Insurance: Against ICC(B) only Remarks: (1) Your commission 2% on FOB value has been included in the above price. (2) Please open L/C advising through Bank of Taiwan Taipei, Head Office. Yours faithfully, TAIWAN TRADING CO. Manager GENERAL TERMS & CONDITIONS (Unless Otherwise Specified) 1. BASIS: All business shall be transacted between the buyer and seller on principals to principals basis. 2. QUANTITY: Quantity set forth on face hereof is subject to a variation of 5% plus or minus. 3. SHIPMENT: Date of bill of lading shall be accepted as a conclusive date of shipment. Partial shipments and transshipment shall be permitted unless otherwise stated on face hereof. The seller shall not be responsible for non-shipment or late shipment of the contracted goods due to causes beyond the seller’s control and...
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