Doing Business in Japan
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This paper explains that Japanese companies keep their subsidiaries very tightly controlled by the parent company than most other multi-national firms; even when decision-making is delegated to other managers, the Japanese practice of consensus results in consultation with the head office in Tokyo. The author points out that, having learned some tough lessons from the financial problems of the last several years, there is now a "liberalization" of the traditional Japanese ultra-conservative and xenophobic economic policies, which makes it easier for foreign companies to invest in joint ventures. The paper relates that Japanese companies are making an effort to go global, which means they are not merely sending expatriate Japanese managers, as in recent years, but are opening up more to the cultures and practices of other countries.
From the Paper:"There are now several valuable books on the subject of doing business in Japan. It would be wise for our top executives to become familiar with many of the "do's and don'ts" for Japanese communication. However, at the same time, Japanese firms are now under constraints from the international business community, including the U.S. "We feel it is perfectly legitimate to insist that Japanese companies doing business globally adhere to fair practices, both at home and abroad." In other words, for our company to penetrate Japanese markets, we need to be aware of several factors tilting in favor of local companies visa vie outsiders. This is one more reason for initiating a joint venture with a well-situated Japanese firm. It would save our company valuable time and money. Instead of starting from scratch as a "foreigner" and "outsider" we would have an entree with a "local" (i.e. Japanese) firm."
Cite this Essay:
Doing Business in Japan (2006, April 30) Retrieved November 20, 2019, from https://www.academon.com/essay/doing-business-in-japan-65224/
"Doing Business in Japan" 30 April 2006. Web. 20 November. 2019. <https://www.academon.com/essay/doing-business-in-japan-65224/>