Japan Business Essay Example

Japan's cottage industry centered around manufacturing electronic products, while also benefitting from the hard work and patriotism of its citizens.

Japan's dedication to progressing their nation is apparent through their main exports, comprising of cars, electronics and computer accessories. The United States stands as Japan's most substantial trading partner, importing more than 25% of all Japanese exports due to Japan's exceptional quality standards. Additionally, China, Singapore, South Korea, Taiwan and Hong Kong are significant export destinations for Japan. To achieve a balance between importing and exporting while manufacturing these products, Japan imports raw materials like oil, foodstuffs and wood.

Japan's economy is reliant on a variety of industries, including manufacturing, construction, distribution, real estate, services, and communication. The country heavily depends on major imports from China, the United States, Australia, Indonesia and South Korea. While agriculture only contributes 2% to Japan's national GNP, rice remains its most crucial crop. In contrast to this industry, mining in Japan is relatively small and has little impact on the country's economic progress. For detailed statistics on Japan's economy please refer to Appendix A. It is worth noting that Japan achieved its current economic status through various aspects such as business strategies like Total Quality Management (TQM), as mentioned by J.

According to renowned Quality Expert, M. Juran, Total Quality Management (TQM) is essential to the management processes and systems that generate contented customers via empowered employees, resulting in increased revenue and reduced cost. Japan mandates strict quality control measures for all manufactured products through the amalgamation of organizational functions and processes aimed at achieving consistently superior quality of goods and services. The ultimate objective should be customer gratification with zero grievances.

Ensuring customer satisfaction is essential in international markets, emphasizing the importance of providing quality care. Despite a slightly higher price, customers will choose products that offer good quality. Durability is also critical for meeting customer needs. Effective leadership, which includes maintaining a positive attitude and top management involvement to address any issues that arise, is a significant contributor to Japan's economic success.

Effective communication and coordination are crucial for achieving success in business, as proven by Japan's successful economy. The country implemented a management system that promoted competitiveness and global expansion through strategic information systems, improved accounting practices, and advanced processes/systems that fostered consistent communication and information sharing between suppliers and customers. Furthermore, the significance of human resources was acknowledged in attaining economic prosperity.

In any economy or organization, human resources hold utmost significance, as they play a crucial role. When utilized to their fullest potential, they can create wonders. Training is an essential tool that aids in refining the abilities and talents of the human resource. Adequate training can lead to a favorable outcome. Japan follows the same principle.

Japanese economists and businessmen understood that selecting suitable human resources and having a performance appraisal and compensation system is crucial for the success of the business and economy.