Japan’s ancient, byzantine corporations
An insightful article in today’s Japan Times by economist Noriko Hama that looks into the hermetic machinations of many Japanese corporations, in light of the recent scandals plaguing this country’s business world. She hangs her argument on Nippon Ham’s recent troubles, but her argument extends further:
The Nippon Ham incident is a symptom of a deeper and more widespread problem in Japan today. Again and again, we see situations in which there is a complete mismatch between the institutions and the reality.
Japan’s companies behave as though they are in the Middle Ages, where the boss is prince and no dissent is allowed. Its banks wouldn’t look out of place in a Merchant of Venice setting. But the reality that surrounds them is one filled with intense global competition, instant communication, and an increasingly aware and well-informed citizenry.