Japan’s corporate world seems to have achieved a productivity and managerial ‘miracle’ as profound as ‘miracles’ affecting Japan’s political and economic development, and an increasing flood of books, articles, and television shows annually appears attempting to analyze the ‘Japanese challenge’ of this ‘corporate miracle’. Most of these reports conclude that American and other foreign firms must either adapt the ‘Japanese corporate model’ or face a continual decline. What is the Japanese corporate model? Is its emergence a miracle as many argue? And regardless of whether it is a miracle or not, how does Japan’s obvious corporate vitality relate to this rather ominous sounding threat called the Japanese challenge?
KeywordsForeign Firm Japanese Firm Volatile Stock Market Japanese Worker Labor Reform
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