Japanese Economy

A detailed Summary of Japanese Economy


Central in the Japanese economy is the family approach. Somebody who joins a company

joins a family. And there are "families" of companies. The three sacred treasures makes this

Since you know that you are going to work in the same company until you retire you care

much more for that the company is doing well. If the company is doing well you get

bonus(can be considered profit sharing). Up to 30 % of the wage is bonus-based.

In Japan they have so called J-mode (not H-mode as in the US and European corporations

with hierarchy) meaning that there is horizontal communications between management and

workers. The fact that difference in wages are relatively small and that managers often have

been workers themselves before enables good relations between management and workers. So

when a decision is to be made everyone is involved because everyone cares.

Another element of lifetime- employment is that the company teaches you how to work in

many different ways within the company, but the workers know little about how to work in

other companies so this creates a loyalty to the compa


world-leading economy it is now much further behind.

protects it from international rivals. They wouldnīt for example let the US export rice to

speculate in property and stock markets. The government didnīt react in time to stop this

This vertical keiretsu system makes sure that suppliers are from Japan, which brings me to the



Some common words found in the essay are:
H-mode European, Honda Sony, Japan Japans, Central Japanese, vertical keiretsu, horizontal keiretsu, companies sacred treasures, companies sacred, keiretsu companies, sacred treasures, lifetime employment, management workers, employment company, horizontal keiretsu companies, keiretsu system, keiretsu horizontal keiretsu, keiretsu horizontal, vertical keiretsu horizontal,

Approximate Word count = 785
Approximate Pages = 3 (250 words per page double spaced)

Category: Miscellaneous

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