Japanese-Style Management

Contents:
 

Preface • Foreword • Acknowledgement

PART I Japanese-Style Management • Its Development and Growth

CHAPTER 1: Japanese Companies • Realistic Picture of Japanese-Style Management • Major companies belong to society? • A sense of mission and dedication to society as management • Induction ceremonies mark joining a fraternity • Participants have no sense of “hiring, being hired” • Workforce intensely loyal to company • Company was “life” before bubble economy burst • Company status • Pride in company held by workforce • Company workforces caught in the “caged bird syndrome” • Introverted and depersonalized “faceless groups of buddies” • Democratic? • But group decision-making has many problems • Characteristics of presidents • Corporate culture opts for a leader supported from below, not an autocrat • Ambiguous structure of authority • Non-presidents may exert power • Three types of power-wielding elders • The “Flying Dutchmen” of corporate Japan •  Majors ruled by ?being in the public eye? and by ?in-house self-rule? Hidden dangers of corporate governance • Links of buddy network extend beyond the company • Insiders support each other as “family”

CHAPTER 2: Japanese-Style Management • God-sent Child of War Defeat • Revolutionary democratization by US Occupation Force Youthful executives filled with dreams of creating utopian companies • Burning zeal for regeneration of the nation •  Intense labour union movements immediately follow defeat • Post-war industrial policies • Cultural aspects of Japan

PART II Japanese-Style Management Born of Recklessness & Atrophy • Group Decision-Making under Fire amid Dangers of Fragile Corporate Governance

CHAPTER 3: Blind Adherence to Management Procedures Leads to Bubble Economy and Blowout • Irresponsible Decision-Making Influenced by Moves of Others • Equity financing with neglect of shareholders • Overeager investments in facilities and equipment thanks to easy money • The zaiteku financial management technology party • Mutual interdependence between greed and reliance on others • Excessive financing encouraged by aggressive banker • Becomes role model • Don’t miss the bus • Jumping on a bus without confirming its destination • Deep-seated grudge of man in the street, obstinacy of Bank of Japan • Public malice and BOJ puncture the bubble

CHAPTER 4: “Let Sleeping Dogs Lie” • Notion Underpinning Nonperforming Loans • Banks and government supervisors sought soft landing • Failure to monitor housing loan companies • Soft landing hopes caused confusion in financial circles, sluggish economy • Collusion wins over supervision • Politics of the 1990s inhibited economic progress • Source of political confusion and lack of policy • Four major instances of misgovernment during the 1990s

CHAPTER 5: Japanese Executives Criticized by Republic of Korea in Semiconductor Battle • Japanese Management Lacked Strategy and Decisiveness • Total defeat in DRAMs • Outflow of next-generation semiconductor memories • Samsung establishes advanced business model for electronic products

CHAPTER 6: Japanese Companies Become too Cautious
Passive Management Justified by Others? Behaviour • Avoiding capital investment • Over-cautiousness rules • Continuing decline • New management may make a difference

PART III Improving Japanese-Style Management

CHAPTER 7: Young, Energetic Activists Rattled Big Business Management Teams • Growing recognition by management of shareholder value • Sensitivity to share prices and dividends increase • Activists make their appearance • Make killings by hoisting banners proclaiming supremacy of shareholders • Workforces regain confidence in Japanese-style stakeholder management

CHAPTER 8: Suggestions for Rating Corporate Executives • Major corporations of Japan as they should be • Suggestions for evaluating and rating managers • Epilogue • Changes Looming: from Despair to Hope • End Notes • Appendix: Major Companies in Japan

About the Author:

Shigeo Shimizu, before his recent retirement, was a life-time employee with Toray Industries, Inc, a chemical and  fibre manufacturer, and one of Japan's largest companies. He became Managing Director in charge of the company's healthcare product business. It was during this time that he began taking a strong interest in Japanese-style management and having discussions with executives in other large Japanese organizations about the issues they  faced. Today, Shigeo continues his studies and discussions on past practices and how Japanese organizations can improve their management for the future.

Shigeo Shimizu graduated from Rikkyo (St. Paul's) University in 1960 where he majored in management and economics. He is married and has two children.