Paper Summary:

This paper discusses how, in recent years, Japanese management techniques have been considered one of the key factors accounting for the success of business. It examines how this has led to a great deal of comment and analysis in the academic literature, much of it devoted to what Western nations can learn from the Japanese. It shows that the conclusion to be drawn from studying and analyzing the literature is that there can be adaptive strategies arising from a series of historical events to produce a variant of managerial capitalism. In this managerial capitalism, management is, in effect, freed of all the major constraints to its actions--shareholders, trade unions, domestic speculators and others.

From the Paper:

"Haitani (1990) saw more danger than most observers in the Japanese concept of groupism. His article looks at the negative side of Japan's group-oriented value system that has also brought high labor productivity, product quality, and a long-term management outlook. Haitani does not criticize those results. Instead, he sees danger in three areas: "(1) the closed nature of the Japanese market; (2) the difficulty of taking really effective measures for reducing the frictions; and (3) the emerging problem of Japanese firms' inability to integrate foreign managerial employees into their corporate hierarchies" (Haitani, 1990, 240)."

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