The recognised success of the post-war Japanese economy has rested on the qualities of its manufacturing industries. This book explores the origins, rationale, and consequences of this transformation. Using theoretical insights and detailed evidence, it reviews the rise of the Japanese economy and the nature, causes, and changing objectives of vertical and horizontal integration; ownership, control, financing and bank-industry relations; and the major operational functions of production, human resources, distribution and marketing.

The topic of 'corporate governance' attracts the interest of commentators, policy makers and academics due to its focus on major differences between national business systems and their performance. Yet many works engage in generalizations, and fail to appreciate the realities and circumstances of its long-term evolution. Comparative study is used in this book to analyse national, legal, cultural and industry-specific contexts and the broad range of key factors contributing to the emergence of business institutions. Historical insight into the origins of corporate governance systems and the impact of institutional legacy is used to unravel development pathways in Japan and Britain. The book is the result of genuine international cooperation between established Japanese and British business historians and management academics.

The recognised success of the post-war Japanese economy has rested on the qualities of its manufacturing industries. This book explores the origins, rationale, and consequences of this transformation. Using theoretical insights and detailed evidence, it reviews the rise of the Japanese economy and the nature, causes, and changing objectives of vertical and horizontal integration; ownership, control, financing and bank-industry relations; and the major operational functions of production, human resources, distribution and marketing.

The significance in business and economic history of Japan's startling rise in international competitiveness since the mid-1950s has not only given business academics much food for thought but has also served to increase the amount of English-language writing on modern Japan. Many researchers have sought to dissect the "economic miracle," isolating key factors which range from the national character and "consensus" to the favorable conjunction of market forces, from unique structural elements and government policy to a "free ride" based on American support and free trade.
This new book uses a comparative perspective to highlight the many components of this miracle. By looking at the key facets of international competitiveness in Japan and Britain, new light is shed on the secrets of Japanese growth while refining allegations of British "failure." There are two main contributions (one by a Japanese and the other by a British scholar) on the following key variables: the government-industry relationship; management structures; education and training; and finance. The book goes on to feature several new case studies of automobiles and electronics. These essays revise many established notions concerning the two countries. Differences in education/business links, for example, are not as pronounced as is often claimed, and the performance gap in financial services is now much narrower. This book will serve as a useful starting point for further research on the critical aspects of modern corporate behavior and global competitiveness.