Japan is back and its companies are leading the charge. The process of reinventing corporate Japan continues apace, but does not mean a repudiation of core values. Nearly half a century since James Abegglen put Japanese management on the map with his pioneering study -- "The Japanese Factory" (1958) -- this leading management consultant and business scholar reminds us of the importance of perspective and questioning the received wisdom.
This is a bullish and insightful take on how Japanese companies are adapting to new challenges and reinvigorating the nation's economic prospects.
The so-called "Lost Decade" of the 1990s has frequently and misleadingly been portrayed as a time of stagnation when Japan was sliding relentlessly into the abyss. Abegglen disputes this superficial assessment and draws our attention to the myriad ways that companies responded effectively and dramatically to the difficulties that engulfed Japan during this post-"bubble" era. For him, this was a "decade of redesign" when firms restructured, overhauled management practices and refocused their businesses to strengthen balance sheets and boost competitiveness.