The SAGE Handbook of Modern Japanese Studies includes outstanding contributions from a diverse group of leading academics from across the globe. This volume is designed to serve as a major interdisciplinary reference work and a seminal text, both rigorous and accessible, to assist students and scholars in understanding one of the major nations of the world.
Chapter 28: Japanese Business and Management
Japanese Business and Management
This chapter sketches the history and prospects of Japan's phenomenal economic success, setting out key features that underpinned it, reflecting on the social consequences of Japan's economic transformation, and evaluating the impact of recent events.
Japan's economic success and development is a unique phenomenon. As early as the Edo period (1603–1868) Japan had a highly developed internal market and the Japanese showed great interest in the country's economic development. As a consequence, Japan was quick to embrace Western technologies and began a rapid process of industrialization after the Meiji Restoration and its opening to international trade.
The Japanese economy was completely destroyed in 1945; but the country quickly set about reconstruction, generating long boom periods and growth rates of up to 10 percent in the 1960s. A phenomenal rate ...