Japan's New Way of Doing Business

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(Free-Press-Release.com) February 19, 2012 -- The rise and fall of Japan as the world’s second largest economy in less than 30 years following its devastating defeat in World War II is one of the great economic sagas of the 20th century.

One of the most important of the factors that made this incredible rise possible was Japan’s unique culture—the mental and physical attributes that had become embedded in the Japanese mindset and daily behavior over a period of some 2000 years—attributes that included basic elements from Shintō, the indigenous religion, that were then honed to virtual perfection by the samurai warrior class that ruled the country from 1192 until 1867.
By 1970 Japan’s economic juggernaut appeared to be on the verge of economically colonizing the U.S. and much of the rest of the world.
However, by the early 1990s this amazing run had fizzled—first because the Japanese financial and real estate industries had unwisely adopted some of the American practices that were to bring these industries down; and second because of the equally incredible rise of South Korea, Taiwan, Hong Kong and finally China as major economic powers and the increasing globalization of business.

In this new world of global competition several key aspects of the traditional Japanese way of doing business became obsolete in less than a decade, forcing Japanese companies to create a new business paradigm that was a hybrid of traditional Japanese elements and Western business practices.
A new book, JAPAN: Understanding & Dealing with the New Japanese Way of Doing Business, by Japanologist Boye Lafayette De Mente, is designed to bring the foreign business community up to date on how the Japanese manage their companies today, including their new approach to remaining a powerful force in the globalizing economy. It is available from Amazon.com.

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