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japanese economy
japanese economy
why and when culture matter international business
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Introduction
External influences affect the types of products developed, the nature of positioning and market segmentation strategies, the type of services offered and the choice of business to acquire. The increasing complexity of business today is evidenced by more countries developing the capacity and will to compete aggressively in world markets. The external influences that affects a business venture in the global market varies from country to country. Establishing a new business venture in an area such as Japan would require an analysis of its cultural and economic environment. The Japanese market is considered to be the world’s most lucrative market. The biggest problem is how to get into it. Japan is known throughout the world for its economic successes, yet Japanese society remains an enigma to many outside its borders. The analysis conducted in this paper will present the positive and negative aspects of opening a in the Japanese market.
Brief History
Japan, an island country is a series of Eastern Asia island chain between the North Pacific Ocean and the Sea of Japan, east of the Korean Peninsula. It is slightly smaller than the state of California. With a population estimated at 127 (July 2004), Japan is three times more densely populated than Europe as a whole and twelve times more densely populated than the United States. 2 While retaining its time-honored culture, Japan rapidly absorbed Western technology during the late 19th and early 20th centuries. After its defeat in World War II, Japan recovered to become an economic power and a staunch ally of the US. While the emperor retains his throne as a symbol of national unity, actual power rests in networks of powerful politicians, bureaucrats...
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...countries can create financial problems for a new business owner in the global market. Dealing with two or more monetary systems can also complicate international business operations.
Bibliography
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2. Sherwood, Sonia (2004, July) Spotlight On Japan, Entrepreneur. Retrieved September 28, 2005 from http://countrystudies.us/japan/
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This term paper will discuss information about the console maker and video gaming industry giant Nintendo Co., Ltd. Information such as a brief history from conception to present, the many products produced and size of the company will be covered as well as where the company has subsidiaries. This paper will briefly discuss the political and economic system employed in Japan and the influence the government has on the nation’s economy. This paper will discuss the influence of Japanese culture and problems a new comer would face trying to compete in a world dominated by Nintendo Co., Ltd. Since the early 1990’s, the Foreign Direct Investment has impacted many companies around the world and this paper will discuss what the impact has been for Nintendo Co., Ltd and Japan. This paper will briefly discuss the regional economic integration and the effects that have been felt by Nintendo Co., Ltd and Japan. The government’s strategy for influencing trade and trade controls that Japan has developed will be covered in this paper. This paper will discuss what Nintendo Co., Ltd has in store for the company’s international expansion strategy. This paper will briefly discuss the philosophy Nintendo Co., Ltd will need to maintain its competitive edge in the video gaming industry.
During the time period between the 1850s and 1950s, Japan underwent massive changes politically, economically, and socially. Acknowledging the failure of isolation, Japan imitated the West in an attempt to modernize, however, still retaining its own identity. A reorganized and more centralized government allowed Japan to industrialize in half the time it took the nations of Western Europe. Industrialization provided Japan with the tools needed to transform itself from a half civilized and “backwards” society during isolation, to a dominating superpower during WWII.
A small empire lies off the Chinese coast that’s approximately 378 square kilometers known as the "Land of the Rising Sun". Japan got its nickname because from China it appears that the sun rises from that direction. The current emperor of Japan is Emperor Akihito and the current Prime Minister is Shinzo Abe who was appointed by Emperor Akihito in 2012. Emperor Jimmu was the first emperor of Japan in 660 B.C. and since then Japan has been involved in thirty-six wars combined. Japans 6,852 islands hold a population of approximately 128 million and the country is divided into forty-seven prefectures which is equivalent to our states. Each prefecture has their elected governor, legislature and administrative cabinet. Japan is a tradition country and some of the original traditions and practices are still used to this day.
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When moving to a market with a consumer culture so different from the home market, a company must be careful to analyse its target audience in detail, to avoid and costly cultural faux pas. To get a good feel for the Japanese culture, a good place to start would be the experts in the cultural studies field. Hofstede’s cultural dimensions, created during his in depth GLOBE study of the cultures of the world, gives a good comparison between the priority differences between Japanese and English culture. A detailed analysis of the cultural differences will be given in the ‘Marketing Issues’ section of the report.
Pearce II, J. A., & Robinson, R. B. (2011). Strategic Management 12th Ed. New York: McGraw-Hill/Irwin.
Wheelen, Thomas L. and J. David Hunger. Strategic Management and Business Policy, 13th Ed. Upper Saddle River, NJ: Pearson Education, Inc., 2012. Print.
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Jeffrey Kingston. Japan in Transformation, 1952 – 2000. Harlow: Pearson Education Limited, 2001. 230 pp.
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