...THE KOREAN MANAGEMENT SYSTEM Cultural, Political, Economic Foundations Chan Sup Chang and Nahn Joo Chang Q Quorum Books Westport, Connecticut London Preface We approached the Korean management system from a cultural context. Although they share a common Oriental culture with other neighboring nations, Koreans maintain a unique culture. This culture, combined with the impact of the geopolitical environment of the Korean peninsula, results in a unique behavioral pattern. Thus, managers and workers in the Korean management system behave differently from their counterparts in other countries. The Koreans have accomplished remarkable economic success since the 1960s, and their management system has played a major role in contributing to this phenomenal economic achievement. Entrepreneurs, top executives, managers, and workers in the management system are all integral parts of the system, and they have performed their assigned jobs effectively. Therefore, to comprehend the unique nature of this Korean management system, we performed an in-depth analysis on its performance. The external environment of the Korean management system is a crucial factor in understanding it. In this kind of environment, the role of government is prominent because without active support from the government, no enterprise can survive and prosper. The government, in return, demands some favors from these enterprises, making this a quid pro quo, a unique feature of the Korean management system. We will...
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...Conclusion & Recommendation 5 Key Takeaways 7/28/2014 The Story of Benihana Case Analysis – Benihana of Tokyo 1 3 Benihana of Tokyo in Years 1st Benihana’s restaurant chain in Japan • 1958 Introduction of Hibachi table arrangement • 1964 Entry in US at West Side, NY • 1966 2nd restaurant chain at East Side, NY • 1967 3rd restaurant in Chicago; Big Blockbuster • 1969 4th & 5th restaurant opened in SF and Las Vegas. Started franchising the unit • 1970 Opened Benihana Palace. Discontinued franchising scheme • 1971 Bill Susha joined Benihana’s management • 1972 15 units in US (9 owned, 5 franchised, & 1 JV). Grossed revenue over $12 mio per year. Considered future expansion 7/28/2014 1935 Case Analysis – Benihana of Tokyo • 4 Americans and Their Eating Behavior Enjoyed eating in exotic surroundings 2 3 Deeply mistrustful of exotic foods Enjoyed watching their foods being prepared Case Analysis – Benihana of Tokyo 7/28/2014 1 5 Problems at the Restaurant Industry in the United States High labor cost Availability Limited seating capacity Food storage and food wastage Contribute significantly to the overhead cost of the typical restaurant Case Analysis – Benihana of Tokyo 7/28/2014 Contributed...
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...build other theme parks outside America and after choosing from over 200 potential sites included Spain, Italy and Greece; Paris was the chosen one. The management of Disney has expected to receive the same behaviour in EuroDisney as their Japanese counterparts in Tokyo Disneyland but they actually experienced the exact opposite of what they experienced in Japan. At EuroDisney, families were unwilling to spend the US$280 a day which was only to enjoy the attractions of the park with a milkshake and a hamburger. Staying overnight was not even in their mind as the prices were very high. Paris was chosen due to its location and also that it is the Europe’s most popular city for tourist destination. The management planned to received 11 million visitors and generate more than US$100 million during the first year but the attendance reached only 9.2 million and by summer 1994, they made a loss of more than US$900 million. The financial losses were so huge that the President had to put in place a rescue package to make EuroDisney back on firm financial ground. They had to revise their marketing plan and made new strategic and tactical changes in the hope of doing it right this time. Ironically, in summer of 1992, as the price of EuroDisney was too high, people went to Disneyland in Florida where it was much cheaper. Hence, management had to cut price at two hotels by 25 percent, introducing cheaper meals and making new promotions. To be able to maintain the Disney’s reputation, they had...
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...ePublications@SCU Southern Cross Business School 2003 The generation gap and cultural influence: a Taiwan empirical investigation Huichun Yu Peter Miller Southern Cross University Publication details Post-print of: Yu, HC & Miller, P 2003, 'The generation gap and cultural influence: a Taiwan empirical investigation', Cross Cultural Management: An International Journal, vol.10, no. 3, pp. 23-41. Published version available from: http://dx.doi.org/10.1108/13527600310797621 ePublications@SCU is an electronic repository administered by Southern Cross University Library. Its goal is to capture and preserve the intellectual output of Southern Cross University authors and researchers, and to increase visibility and impact through open access to researchers around the world. For further information please contact epubs@scu.edu.au. Post-print of: Yu, HC & Miller, P 2003, 'The generation gap and cultural influence: a Taiwan empirical investigation', Cross Cultural Management: An International Journal, vol.10, no. 3, pp. 23-41. The authors Hui-Chun, Yu is a DBA (Doctor of Business Administration) candidate in the Graduate College of Management of Southern Cross University, New South Wales, Australia. Dr Peter Miller is a senior lecturer in the School of Social and Workplace Development at Southern Cross University, New South Wales, Australia. Contact details: Southern Cross University Division of Business PO Box 42 Tweed Heads NSW 2485 Australia Phone Fax +61 7 55 06 9311 +61...
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...especially in the previous five years. Despite its huge success in the North American market, Honda is struggling to gain a significant foothold in the European market. Honda executives wonder why their global strategy is sputtering. Is global strategy just a pipedream, or is something wrong with Honda's European strategy? History of Honda In 1946 Souichiro Honda founded the Honda Technology Institute. The company started as a motorcycle producer and by the 1950s had become extremely successful in Japan. In 1956, Honda entered the US market and was able to position itself effectively, selling small sized motorcycles. In the early 1960s, the company commenced automobile manufacturing and participated in Formula-1 racing (F-1) to assist its technology development. Thanks mainly to its F-1 efforts, Honda became recognized, not only in Japan but in the rest of the world as well, as a technological savvy company. Up to the early 1990s the company had experienced serious organizational mismanagement resulting from tension between the technology side and the marketing-sales side. The situation became so dire, that the technology biased president and founder, Souichiro Honda, was forced out, due to his neglect in important marketing decisions. After Souichiro Honda’s departure, the company became more marketing-technology balanced, and by 1999 was second in sales only to Toyota in the Japanese market. The underlying success of the company is best summarized in its mission...
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...However, the American company faced setbacks due to Japanese store-size regulation, application procedures, and a long-standing multi-layered distribution system. Continued effort and the acceptance of a Japanese partner enabled the company to prepare for the opening of a Toys “R” Us outlet in 1991. Faced with a lack of direct distribution deals and high land and labor costs, executives of Toys “R” Us Japan worried about the ultimate success of their new venture. Therefore, Toys “R” Us management must decide if entering the Japanese market is worth the effort it will undoubtedly entail. And if they decide to enter the market, they need to consider how to structure their entity; whether to modify their retail format to fit the Japanese market; and how to handle the political outcry that will inevitably accompany their investment. II. Alternatives: a. Status Quo - Continue to work with Mr. Fujita and McDonalds Japan to enter the Japan market b. Abandon the alliance with Mr. Fujita and McDonald's and work directly with the toy manufacturers to build the Toys “R” Us store and retail network c. Change strategy to have many "small shops" in Japan rather than the "big box" category killer that Toys “R” Us is known for in the US III. Analysis: d. Status Quo - Continue to work with Mr. Fujita and McDonalds Japan to enter the Japan market. In 1971, McDonalds approached Mr. Fujita and asked him to join them in introducing U.S style fast food in...
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...stores in Japan. However, the American company faced setbacks due to Japanese store-size regulation, application procedures, and a long-standing multi-layered distribution system. Continued effort and the acceptance of a Japanese partner enabled the company to prepare for the opening of a Toys “R” Us outlet in 1991. Faced with a lack of direct distribution deals and high land and labor costs, executives of Toys “R” Us Japan worried about the ultimate success of their new venture. Therefore, Toys “R” Us management must decide if entering the Japanese market is worth the effort it will undoubtedly entail. And if they decide to enter the market, they need to consider how to structure their entity; whether to modify their retail format to fit the Japanese market; and how to handle the political outcry that will inevitably accompany their investment. II. Alternatives: a. Status Quo - Continue to work with Mr. Fujita and McDonalds Japan to enter the Japan market b. Abandon the alliance with Mr. Fujita and McDonald's and work directly with the toy manufacturers to build the Toys “R” Us store and retail network c. Change strategy to have many "small shops" in Japan rather than the "big box" category killer that Toys “R” Us is known for in the US III. Analysis: a. Status Quo - Continue to work with Mr. Fujita and McDonalds Japan to enter the Japan market. In 1971, McDonalds approached Mr. Fujita and asked him to join them in introducing U.S style fast food in Japan. What Mr...
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...Taco Bell in Japan (Round Two Japan, will this time be a Fiesta or Siesta?) By Phillip Smith As a child, growing up on the West Coast of America, Taco Bell, was as common as McDonalds, with locations in every neighborhood. Its classic chicken quesadilla and bean burrito were staples of my college diet and I could not imagine a fast-food landscape without the spicy taco-sauce. Although, since moving to Japan in 2005, I’ve had to settle for eating Taco Bell only when traveling outside of Japan. That being said, every other major US fast-food chain seems to be serving its notable favorites in the land of the Rising Sun. For example, McDonalds operates over 3,100 units (Inagaki, 2015), Kentucky Fried Chicken has 1165 locations (Yum!’s, 2015) and Starbucks has 1117 (Loxcel, 2015); but where is Taco Bell? On 21 April, 2015, the multinational fast-food chain answered back with its launch into the Japan market with a new location in Shibuya, Tokyo. This is not Taco Bell’s first launch in Japan. Back in the late 1980’s it opened stores in two markets, Tokyo and Nagoya (Matayoshi, 2015). A few years later in the early 1990s, they closed all the Japan operations, abandoning the country. Will the second attempt be different? How will marketing play a role in its success? Did they invest in market research to gain insight in the lay of the land? How will its competitive environment contrast its first attempt to penetrate the Japan market? What type of competitive strategies...
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...13 code: LEV-PORT-art-013-bl Purchasing must become Supply management Bron: Auteur(s): Harvard Business Review, september-oktober 1983 Peter Kraljic Purchasing Must Become Supply Management Peter Kraljic Harvard Business Review No. 83509 SEPTEMBER–OCTOBER 1983 HBR Peter Kraljic Purchasing Must Become Supply Management The stable way of business life many corporate purchasing departments enjoy has been increasingly imperiled. Threats of resource depletion and raw materials scarcity, political turbulence and government intervention in supply markets, intensified competition, and accelerating technological change have ended the days of no surprises. As dozens of companies have already learned, supply and demand patterns can be upset virtually overnight. How can a company guard against disastrous sup- ply interruptions and cope with the changing economics and new opportunities brought on by new technologies? What capabilities will a profitable international business need to sustain itself in the face of strong protectionist pressures? Almost every kind of manufacturer will have to answer these questions. Some companies have already responded to the growing pressures. For example: o Finding that purchasing outlays had increased in less than one year from 40% to 70% of the cost of goods sold, one European office-equipment manufacturer began to rely more heavily on American and Japanese suppliers, revise its materials planning system to reduce in-process...
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...13 code: LEV-PORT-art-013-bl Purchasing must become Supply management Bron: Auteur(s): Harvard Business Review, september-oktober 1983 Peter Kraljic Purchasing Must Become Supply Management Peter Kraljic Harvard Business Review No. 83509 SEPTEMBER–OCTOBER 1983 HBR Peter Kraljic Purchasing Must Become Supply Management The stable way of business life many corporate purchasing departments enjoy has been increasingly imperiled. Threats of resource depletion and raw materials scarcity, political turbulence and government intervention in supply markets, intensified competition, and accelerating technological change have ended the days of no surprises. As dozens of companies have already learned, supply and demand patterns can be upset virtually overnight. How can a company guard against disastrous sup- ply interruptions and cope with the changing economics and new opportunities brought on by new technologies? What capabilities will a profitable international business need to sustain itself in the face of strong protectionist pressures? Almost every kind of manufacturer will have to answer these questions. Some companies have already responded to the growing pressures. For example: o Finding that purchasing outlays had increased in less than one year from 40% to 70% of the cost of goods sold, one European office-equipment manufacturer began to rely more heavily on American and Japanese suppliers, revise its materials planning system to reduce in-process...
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...Harley Davidson (HD): Preparing for the Next Century Q1 How would you characterize HD’s primary challenge(s) as of the end of 2005? Stock prices dropped 17% due to lower forecasts, in spite of positive trending financials. Lower forecasts were due to growing saturation within their target market. Saturation was occurring due to fewer younger buyers replacing aging buyers. Fewer younger buyers was occurring because HD did not have a highly successful plan to win them over, noting pointed attempts with Buell and the V-Rod. Therefore: * their issues are not cyclical, but structural * their issues are not urgent in the sense that creditors will force bankruptcy in the immediate future * however, they must be addressed to maintain long-term strength as an organization * further, this is more of a strategic issue than it is tactical * and, HD may be approaching the upper limits of their current business model Stock analysts were seeing that HD stock was inflated as a strong working solution did not appear to be in place to address these issues. All things being equal, past performance did not appear to be sustainable. Q2 Deconstruct HD’s macro environment (PEST) and industry (Porter’s 5). Economic: Given that HD is a big ticket discretionary consumer luxury product, the strength of the economies in their principle markets is very important. An economic downturn would have a downward pressure on sales. Conversely, further economic growth would create a...
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...International Business Research Project: Butterfly effect of Japan´s disaster on global production Professor: Dr. Corrine Young Prepared by: Team 6 Alonzo, Marie Francoise Arango, Luisa Fernanda Darbinyan, Mkrtich Parparcén, Luis Felipe Salas, Ana Karina Solano, Pablo May 28th, 2011 INDEX Content Butterfly Effect of Japan´s Disaster on Global Production. 1- Japan Background a. The relevance of Japan in global production and supply chain b. Economical impact of the Japanese Disaster 2- Impact on global production in important industries a. Automobile Industry i. Toyota b. Electronics Industry 3- Collateral impacts of the disaster a. Increase in electricity costs b. Explanation of why the yen is so strong. i. Supply Chain ii. Cheap Investment iii. GDP Impact iv. Export Economy v. Currency vi. Monetary Policy 4- Innovation in supply Chain and the Disaster in Japan a. The Top 10 Supply Chain Innovations from 1880-1990 (1) b. Supply Chain Innovation c. Supply Chain Innovation - Environment d. Long-Term Disarray after Japan Disaster Conclusions Bibliography Butterfly Effect of Japan´s Disaster on Global Production. 1- Japan Background a. The relevance of Japan in global production and supply chain Japan is an island nation located at the...
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...International Business Research Project: Butterfly effect of Japan´s disaster on global production Professor: XXXXXXX Prepared by: Team X May 28th, 2011 INDEX Content Butterfly Effect of Japan´s Disaster on Global Production. 1- Japan Background a. The relevance of Japan in global production and supply chain b. Economical impact of the Japanese Disaster 2- Impact on global production in important industries a. Automobile Industry i. Toyota b. Electronics Industry 3- Collateral impacts of the disaster a. Increase in electricity costs b. Explanation of why the yen is so strong. i. Supply Chain ii. Cheap Investment iii. GDP Impact iv. Export Economy v. Currency vi. Monetary Policy 4- Innovation in supply Chain and the Disaster in Japan a. The Top 10 Supply Chain Innovations from 1880-1990 (1) b. Supply Chain Innovation c. Supply Chain Innovation - Environment d. Long-Term Disarray after Japan Disaster Conclusions Bibliography Butterfly Effect of Japan´s Disaster on Global Production. 1- Japan Background a. The relevance of Japan in global production and supply chain Japan is an island nation located at the East of Asia, in the Pacific Ocean. Its currency of legal course is the YEN (¥). Japan has the tenth largest populations in the...
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...FA ND OM UNB OUND —-1 —0 —+1 561-47344_ch00_1P.indd i 7/27/11 6:21 PM -1— 0— +1— 561-47344_ch00_1P.indd ii 7/27/11 6:21 PM FAN DO M U N BOUND Otaku Culture in a Connected World Edited by MIZUKO ITO DAISUKE OKABE IZUMI TSUJI —-1 —0 —+1 New Haven & London 561-47344_ch00_1P.indd iii 7/27/11 6:21 PM Published with assistance from Copyright © 2012 by Yale University. All rights reserved. Subject to the exception immediately following, this book may not be reproduced, in whole or in part, including illustrations, in any form (beyond that copying permitted by Sections 107 and 108 of the U.S. Copyright Law and except by reviewers for the public press), without written permission from the publishers. The author has made an online version of this work available under a Creative Commons Attribution-Noncommercial 3.0 License. It can be accessed through the author’s Web site at http:www.itofisher.com/mito. Yale University Press books may be purchased in quantity for educational, business, or promotional use. For information, please e-mail sales.press @ yale.edu (U.S. office) or sales @ yaleup.co.uk (U.K. office). Designed by James J. Johnson Set in Janson Roman and Helvetica type by Westchester Book Group, Danbury, CT Printed in the United States of America [[CIP info to come]] A catalogue record for this book is available from the British Library. This paper meets the requirements of ANSI/NISO Z39.48-1992 (Permanence...
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...CASE 2-1 Ali Zein Kazmi February 1, 1999 THE NOT-SO-WONDERFUL-WORLD OF EURODISNEY -THINGS ARE BETTER NOW AT PARIS DISNEYLAND- 1. What are the factors contributed to EuroDisney’s poor performance during its first year of operation? Walt Disney overestimated the magic that was to be in introducing Europe's most lavish and extravagant theme park in April of 1992. The fiscal year 1992-1993 brought EuroDisney a loss of nearly $1 billion. Mickey, a major promotion tool of Disney management did not create reason or attraction enough for the European community, unlike at the sister theme park Tokyo Disneyland. European families found EuroDisney to be an “over-rated” promotion of American culture and lifestyle, contrary to what was seen by Disney's management as a family affair. In the initial years of operation this led to an overestimation of expected revenue and audience figures. Advertising messages had been miscommunicated, “emphasizing glitz and size…not the rides or attractions”. Disney remained unsuccessful in attracting customers just by vigorous brand name promotion communicated through Mickey and his friends. Moreover, families were reluctant to pay hefty price tags on accommodation and entertainment needed to enjoy the attractions of the park. Disney failed to manage a healthy relationship with partner organizations in the host country, which most importantly alienated them from their number one ally, the French government. Regional affairs in Eastern...
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