...Japan in the global economy, we can divide the period in four phases. First – War reconstruction Second – high growth Third – stable economy growth Forth – “bubble” After World War II, the Japanese economy struggled to recover until it received a boost from the so-called special demands from the Korean War. To improve the production capacity of the economy, the Japanese government adopted the priority production system, focusing on the production of steel and coal, expecting spill over effects on other sectors of the economy. Combined with the three major structural reforms - that is, the dissolution of "Zaibatsu," or financial conglomerates, reform of agricultural lands, and labor reform - these policies paved the way for the high economic growth that followed. In 1956, the economic white paper declared: "Japan is no longer in the post-war period." During the period from 1956 to 1972, the economy grew on average 9.3 percent in real terms. These years are called the "high growth period." New technologies as well as new products required high investment. Dubbed as the "Consumption Revolution," durable consumer goods such as televisions, washing machines, refrigerators, cars, and air-conditioners spread rapidly. Exports also increased at faster paces, thanks to the modernization of production equipment and cost reduction by new technologies. Nonetheless, the rise in imports out-paced exports, leading to a negative contribution of net exports on average at minus 0.2%...
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...‘attention to details’. In general the concept of ‘relative quality’ is challenged by the ‘absolute quality’ which has forced customers to LV or nothing attitude. To back their products ‘LV’ has taken action against counterfeiting item by ‘Enlightenment Champagne’, involvement of French trademark authorities etc., make there product defendable. Partnership with local artist and Limited edition products has demonstrated that Product Line up and innovation are very strong parts of ‘LV’ business model in Japan. Price – Market Demands “Low Price”, this is achieved by reducing costs and off-shoring production to China and elsewhere. Louis Vuitton handbags, on the other hand, are priced high. Such high prices are unnecessary for merely stowing and carrying things. In essence, the Louis Vuitton difference is value, not price—this being absolute value, not relative value. Many of the principles for Price were innovations that came about after Kyojiro Hata became president of Louis Vuitton Japan and that subsequently went global. With the Yen getting strong ‘LV’ has reduced the prices between 1 to 4 folds over the course of last 4 – 5 years. This is in my opinion is correct or reliable pricing which earns trust of the customers. Place – In general more distribution channels the company have more sales potential is predicted. However, in case of ‘LV’ – they are selling only from few stores and started online (via web)...
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...Business in China Individual Assignement George William Fisher Table of Contents Write an Individual Essay on business or business cultures in Japan. Give a detailed argumentation for your descriptions. 2 Japan Business Background 2 Meiji era 3 End of the Second World War 3 The Economic Miracle 5 The “Bubble” and the “Lost Decades” 7 SWOT Analysis 9 SWOT Analysis Findings 9 Japanese Industries 10 The Future 11 Reference: 12 Write an Individual Essay on business or business cultures in Japan. Give a detailed argumentation for your descriptions. Japan Business Background Despite the growth of China and India as both regional and global economic super-powers, Japan remains a major force in world status with leading players in sectors such as banking and finance, software, automotive and pharmaceuticals. and it would be unwise to switch attention away from this potentially lucrative market. The approach that the Japanese people make to business is determined by their historical values and their society as a whole. Japan has the world’s third largest economy, with a very strong democratic setup and stable macroeconomic policies. There were many historical events that took place, which had a large effect on the economic development of the country. Meiji era This era of Japan’s history, which ran from 1868 to 1912, symbolised the shift of Japanese society from being isolated to becoming its modern form. The...
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...in Japan | Executive Summary For the analysis of bringing Tayto into Japan we used three different tools to analyze and conclude on three different levels. The PEST analysis analysed the country from more of a macro level. From this analysis we learned that the political system is similar to Irelands, but has experienced some recent turmoil. The economic situation is still very strong, but has been in a slow and pretty steady decline caused by the Asian financial crisis and the recession. We learned they are a typical high context culture with strict rules, and long decision times. As well they are a technologically advanced culture with good infrastructure. To look at the relation of our product in the market we used the diamond analysis. This showed that Japan has a great work force, and good access to relating and supporting industries. There is also an established demand for potato chips, but seems to be a gap in the market that Tayto could exploit. The SWOT took a much closer look at Tayto and determined that even though it has a strong presence in Ireland and the UK it is still not a huge global player. It also pointed out some cost cutting opportunities, via FDI and further emphasised the large population as an opportunity for Tayto it also made clear that competition in the snack industry is everywhere, and the costs of setting up a business via FDI could be very high. Finally we drew the conclusion that given all the positive and negative aspects, Japan posed...
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...More Globalization To Solve Japan's Prolonged Economic Stagnation: 2020 Tokyo Olympic, Establishment of Foreign Companies and Cultural Reform/Cultural Ramification Before Japan was globalized it was secluded from the rest of the world for nearly two centuries from1603 to 1868. This time period was called the Tokugawa Period. Even though Japan closed its ports to foreign trade, it was self sustainable and independent. This self sustainable society was maintained through its unique producer-consumer relationship and the "reuse recycle" practice in commerce due to the island's limited resources. Repair merchants such as tinker, ceramics repairers and truss hoop repairers supported a society where nothing was thrown away but instead carefully repaired and reused until the products were truly un-amendable. For example, tinkers used special techniques and charcoal heat to weld holes in pots and kettles with other metals; ceramic repairers glue broken ceramic pieces together with sticky rice and applied heat; paper makers buy used papers and blend them to make a variety of paper from writing paper to toilet paper (Staff). The Tokugawa Period served as a model of a flourishing sustainable society to the Japanese. After Japan was introduced to globalization during the Second World War, the nation benefited from becoming a export driven economy, business policies such as the lifetime employment policy promoted the efficiency of the company, and the cultural influences on business management...
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...aftermath of the tsunami of March 11, 2011, the people of Japan have not only the challenge of redevelopment but the safety from Fukushima and strength to build a healthy psychological future. When Fukushima Daiichi was designed and built with information of tsunami hazard, there were no known large tsunamis that hit that particular part of the coast (Noggerath 39). Once the news of the nuclear disaster was being announced it brought a series of new tragedies to the community. They were evacuated from the surrounding area of the nuclear plant because of the release of radioactive materials. Many are not able to come back to their homes due to the decaying contaminates emitting radiation. Although evacuations were set forth immediately, those that have been exposed will suffer a great deal of health problems. Cancer and tumors are likely for those who were exposed to high levels of radiation. Other problems facing many is the psychological repercussions leading to “stress related symptoms such as depression, anxiety, post-traumatic stress disorder (ptsd), and medically unexplained physical symptoms”(von Hippel 33). There are services provided to those that want or need them provided through UNICEF, Association for Aid and Relief (AAR), and Red Cross. The shattering destruction brings survivors of the tsunami together to rebuild, mend their hearts, and live with uncertainties of toxic contamination. Japan has gone through the...
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...other business issues. External environment Demographic Asia and America is two major export destinations of NAPCO’s high quality beef. These area own over one forth of earth population which means they can provide giant market and requirement to company. Although these countries like China Japan and America are more likely have aging population structure, it may hardly influence the beef market due to beef is suit for everyone. Australia is surround by sea and close to Asia which means it’s easy for company to export by ship or plane. According to the income level of the target market like Japan, US, Koear and china, there are stable requirement of high quality beef and no ethic issue can impact people choose beef. Economy After the global economic crisis in 2008, Asian and America has get rid of the negative impact of it step by step, especially Asia. In that case, economical situation is stabilized and these countries’ citizens are able to chase high standard life which can result in they purchase better food and daily use to improve their life quality such as beef as food. Thus, it is a nice opportunity of rising of beef industry. Although, recently, the European debt crisis has some negative impact on global market and US’s economy had been...
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...Japanese tends to prefer quality over low prices, which constrasts with Walmart core value as Wal mart's motto is Every Day Low Price. Also, Japan is a small country with limited spaces, which has several implications for Walmart. Small housings and apartment sizes, with high rent prices means that Japanese would need to minimize their purchases. Japanese are having trouble with lack of storage room to store purchases. For example, a typical apartment in Japan would be 1 room apartment with Living, Dining, and Kitchen area. A normal size of Japanese apartment are an average of only 27,55 sqm. Japanses likes to make several small purchases frequently. They minimize purchases, they would make their purchases several times a week, in small quantities. This means that stores would have to be readily available within reasonable distance, and bulk purchasing is discouraged. Compared to Walmart usual practice of centralized, big stores, with bulk purchasing to save costs, a neighborhood convenience store would be more suitable for the Japanese people. Japanese have high operating costs, especially because of the prices of rent and buildings in general. An average commercial land prices in Japan is 156,857 Yen (USD 2,017)/sqm, with average commercial land price in Tokyo reaching 1,551,400 Yen (USD 19,956)/sqm, followed by Osaka with average commercial land price of 493,700 Yen (USD 6,360)/sqm. I suppose it is very expensive compared to the U.S. They are also inability to apply original...
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...1. Introduction 1.1 Background Japan has the third largest economy in the world. As it is surrounded by sea, the country’s port plays an important role in maritime transportation for both exports and imports. In March 2011, the world was affected when Japan was struck with natural disasters (Earthquake and Tsunami). This sudden disaster sent everyone around the world into frenzy. It affected Japan’s ports, shipping and logistics. As a result of the natural disasters, ports in the northern area of Japan had to stop operations after the Tsunami washed away port facilities, leaving the area in tatters. Ports such as Hachinohe, Ishinomaki and Onahama were severely damaged and it would take months before operations can resume. It will take some time for Japan to rebuild itself as this is the worst disaster to hit the country since the Hiroshima/Nagasaki nuclear bombing during the World War 2. 1.2 Objectives of Project The team will be doing a research and critical analysis on how the crisis has affected Japan’s economy and how the revival of Japan will benefit the shipping economy. The areas of focus will be on the economic impacts of the various shipping markets and other factors contributing to the crisis and forecasting the future outcome in the shipping industry. We intend to go beyond the surface and dig deep into the crisis to fully understand how dealing with a crisis really works. This includes looking at past records as well as analyzing the situation in...
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...this course)400 Toyota has long been a famous brand name of car industries; it had produces lots of cars every year, included sedan, hatchback, and coupe to name just few. Therefore Toyota has an unavoidable power in either parts of Japan’s Gross Domestic Products (GDP) or car industries. Thus I want to use SWOT analysis to talk a bit more about how Toyota can affect the world. Toyota was first operated in Japan in early 1937s; however, Toyota is not first to manufacturing cars but automatic weaving mechanism. In the early industries, it gives Toyota basic techniques to make cars. Although car departments were made, Toyota had not enough resources to make cars for that huge demand in Japan in 1950s because there was a Korean War. In order to tackle this problem, Japan government decided to subsidy Toyota to produce cars until now. This is one of the strength of Toyota because it has Japan government to back up. In another case, Japan government also subsidy seven billion to Toyota to build up Toyota Chamber of Commerce centre by their own. Thence Japan government had strengthened Toyota by providing lots of benefits. In the core process of producing a car, Toyota good at using a relatively low cost to produce a relatively higher class of car to their competitors. For instance, Toyota cars has often been evaluated for the low failure rate. Also in 1950s Toyota started to take care of its cars qualities by quality management. Such as doors and the boot of the car...
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...Abstract: The Diaoyu/Senkaku Islands have brought China and Japan into a bitter dispute for many decades. With regard to the real question of who owns sovereignty over the islands, the two claimants can not come to terms on several critical issues, such as whether the islands were terra nullius when Japan claimed sovereignty in 1895, whether Japan returned the islands to China after the Japanese defeat in WWII, and how their maritime boundary in the East China Sea should be demarcated according to international law. There is no ready solution to the longstanding stalemate, but the pending dispute could be shelved and managed from escalating into a military conflict. INTRODUCTION The Diaoyu Islands in Chinese or Senkaku in Japanese are a tiny group of islands, 6.3 km² in total, in the East China Sea. The islands consist of eight tiny insular formations, of which only two are over 1 km² (the Diaoyu/Uotsuri Island is the biggest one with 4.3 km²), five are completely barren, and none are currently inhabited or have had any kind of reported human economic activity. Notwithstanding these unfriendly natural features, the islands have brought China and Japan into a bitter dispute since 1960’s because of their strategic importance in terms of security and economy, as well as their significant political implications. The Diaoyu/Senkaku Islands are located approximately midway between the island of Taiwan and the Japanese Ryukyu Islands, around 120 nautical...
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...a subcompact car produced by Toyota since 1999. Yaris was first launched in the European market and it has achieved great success in the global market then. It was become Toyota's best-selling models in Europe. Besides, Toyota has used the "Yaris" and "Echo" names on the export version of several different Japanese-market models. At the beginning, Toyota decided to sell Yaris in the European market and build their overseas factory in Valenciennes France. As Toyata’s target market was in the European market, its overseas factory has the advantage in low labor cost and delivery cost. Valenciennes is a medium-sized city of 350,000 inhabitants located at northeast of France near the Belgium border. The region was severely struck by the steel crisis of the 1970s and the following constriction of the coal mining industry. The region suffered a huge economic depression with an unemployment rate approaching 30% during the 1980s. At that time, the installation of the Toyota factory in the industrial suburbs of Valencienne was a very important step of this regional revitalization process. Toyota ensured to the local government that it will create more than two thousand jobs for local residents. Considering of local economic situation, Toyota’s plant was more than welcome by local government and residents. To attract Toyota, national and local governments, as well as the European Union, gave Toyota a total of 51.5 million Euros in subsidies and tax incentives. However, there were some...
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...treasured possessions, but it is the way a people respond to the natural disasters that defines them and identifies them as a culture. Japan was hit by one of the largest earthquakes ever recorded on March 11. The magnitude-9.0 quake spawned a deadly tsunami that slammed into the small island nation, leaving a huge swath of devastation in its wake. Thousands of people are dead and many more are still missing or injured; almost half a million people are homeless. Numerous people and organizations rushed to their aid. Krista Mahr’s article “How Japan Will Reawaken” told of the suffering and anguish the people were feeling, but also depicted how they went out of their way to help one another. Anyone and everyone who was in need of help received it; even people who suffered and lost family or homes from these disasters went out of their way to help others. Cultural conformity and unity are trademarks of the Japanese culture compared to American culture. Mahr’s words told the story of the Japanese people and how, even after the worst natural disaster, they can be caring and think about people within their community and helping others instead of themselves. There was another such disaster that affected the United States, Hurricane Katrina devastated New Orleans and the surrounding area. The response reported in the news was unlike the response in Japan. Reports of racial segregation and class subjugation regarding aid and shelter were prevalent. Racial and economic disunity hindered...
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...1. Introduction Korea and Japan have close relationship ever since their ancient histories to this day. Because of this reason, their economic growth and development have similarities but on the other hand, due to their different characteristics, they also have differences. This paper will discuss some of the two countries’ major characteristics including geographic, social, and political characteristics and look at their histories and economies. 2. Geography Korea - Korea extends about 1,000 kilometers to the south from the northeast part of the Asian continent. It consists of the Korean Peninsula and over 3,400 islands. Since 1945, as a result of the WWII, Korea has been divided into North Korea, and South Korea. The total area is 221,607 square kilometers. South Korea owns 99,237 square kilometers and 45% of the total land, while North Korea owns 122,370 square kilometers, the remaining 55%. Korea is mostly consisted of mountain range with 70 percent. The Mountains Taebaek connects the full length of the east coast. Japan - Japan has four main islands - Honshu, Hokkaido, Shikoku, and Kyushu - and more than 3,000 small islands cover an area of 377,727 square kilometers. These islands extend over 3,000km in total length, and it spreads about 300km in width. Japan is covered with mountains about three-fourths of the national land. Mt. Fuji divides the center of Honshu with 3,000-meter high, the main island. Japan has around 200 volcanoes, among them about 60 volcanoes...
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...TECNOLÓGICO DE MONTERREY | THUNDERBIRD Production Operation Management TOYOTA: THE ACCELERATOR CRISIS Study Case Report | | 1. What were the drivers of Toyota´s accelerators crisis? Why was Toyota facing a recall crisis? The drivers of Toyota crisis were Strategic, structural and cultural issues. At the strategic level, the cost reduction strategy added with the increasing of the output volume strategy caused a decrease in quality. Furthermore, the structure of Toyota (HQs in Japan and not in the U.S) impacted Toyota’s response to customer’s claims, taking a long time to address Toyota consumer’s concerns, and in fact was one of the most criticized issues during the crisis. In other words, the company took a considerable time before recalling units that meant life losses and significant economic impacts. At the cultural managerial level, there were difficulties driven by how Japanese address the situation vs. how Americans deal with the problems. The company lost its original philosophy due to different cultural orientations between Japanese headquarters and North American subsidiaries. The fact that Toyota was recovering from its last unit’s recall (due to motors leaking oil) plus the beginning of the global financial crisis, ended up yielding a deviation of the original long term plan to look after the U.S subsidiary´s financial performance, triggering a swap in the three main pillars of Toyota (Safety, Quality and Volume). 2. Michael...
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