Japan Business Flashcard
The theme of the research is to investigate the business of Japan which will include strategic problem, sector, group, issue background and discussion of business strategies, Evaluation of the Effectiveness of the Strategies followed, Personal Opinion and suggestions for solution. Executive Summary The research paper is regarding the Japan business is carried out keeping in view the business aspects like business strategies, evaluation and effectiveness of the strategies followed in the economy.What are the drawbacks of the Japan’s economy, how they can be rectified, the scope of business expansion and the Japan’s economy, comparison with other countries, like GDP imports exports, the ground on which the Japan’s economy developed.
These are the aspects, which are taken into consideration while preparing this report. Introduction In the past few years back Japan has proved itself a very successful country. Obviously it’s all due to hard work and workers ability for progress. The Japanese economy has been economy playing a pivotal role in the world of economics.The Japanese economy is one the strongest economy in the world. Only the United States has the higher GNP than Japan.
According to the census of July 2005, the total Population of Japan is 127,417,244 with the GDP per capita income is $29,400. The literacy rate in Japan is almost 100%, which is the key success of its prosperity. Its currency yen is a powerful currency and enjoying a role equivalent to the United States of America and the United Kingdom. The Japanese economy is a powerful economy. The items manufactured by Japan have very good reputation and are indeed durable and beautiful.Due to the difference of currency its products have become costlier compare to other countries like China and Malaysia.
Initially Japan stepped into electronics field and claimed a good reputation. Japan cottage industry gave full-fledged support to the electronics items. It would not be wrong if called that cottage industry of Japan was dependent on electronics items. Electronics items including toys were manufactured / prepared in home-to-home which provided support to the economy. Japanese are very hardworking people. They love their country very much.
For the development of their country Japanese worked day and night and proved their abilities. Exports: Japan’s main exports consist of cars, electronics items and computer accessories. Due to the good quality standard, Japan’s most important single trade partner in the world is the United States, which imports above single quarter of all Japanese exports. Other major export countries are China, Singapore, South Korea, Taiwan and Hong Kong. Imports: For keeping the equilibrium between export and import balance and also to manufacture its products Japan imports goods like raw materials such as oil, foodstuffs and wood.
Major imports are imported from China, the United States, Australia, Indonesia and South Korea. Industries: Japan depends upon Manufacturing, Construction, Distribution, Real estate, Services and Communication upon which its industrial structure relies. Agriculture shares only about 2% of the national GNP. Most important agricultural of Japan is rice. Mining industry of Japan is very small and contributes very small proportion to the national GNP. Important Statistics of Japan’s Economy For important statistics of the Japanese Economy, please see appendix AA question arises that how Japan was able to get this place, answer depends many aspects that may be discussed as follows:- Business Strategies Adopted By Japan Total Quality Management (TQM) According to J.
M. Juran a well known Quality Expert, “Total Quality Management (TQM) is the most import ant part of management processes and systems that create delighted customers through empowered employees, leading to higher revenue and lower cost”. All products manufactured by Japan are strictly manufactured under strictly adhered to quality control.This is the integration of all functions and processes in an organization for achieving a consistent improved quality of goods and services. The goal in the mind should be customer satisfaction. No complaint should be received from the customer.
Satisfaction of the customer should be guaranteed. For competing in the foreign markets it is very much necessary that attention be paid to quality care. If quality of a product is good people do not mind to purchase even its marginal price is higher. Durably is very much important for the customer/user.Good Leadership One of the secrets of Japanese economy success is good leadership which includes good attitude and involvement of Top management in the business affairs and elimination of any problem arise if any.
Good communication / coordination is an integral part of success in the business which was successfully followed by Japanese economics. Management system was organized on the pattern that helped the economy to boost and flourish on the competitive manners and keeping in view the global requirement for expansion and success. Information and AnalysisThe Japanese economy followed the rule of organization implications, rules and planning made were successfully followed like strategic information system, shortcomings of accounting system were eliminated, advanced processes/systems were followed, information between the customer and supplier were assured. Human Resource Focus To get successful economic results, it is inevitable that due emphasis should be given to the involvement of Human Resource.
Human resource is the most important factor that plays a pivotal role in any economy or organization.If human resources are fully utilized it shows miracles. Training plays very important role to polish the abilities and talents of human resource. If proper training is provided it helps for good output. The same thing was followed by Japan.
If due care is paid in the process of selection of suitable human resource it is good for the business and economy which Japanese economist and businessmen realized and was equally supported by performance appraisal and compensation system.