Why Japanese Businesses Are So Good at Surviving Crises?
Harvard Business School professor Hirotaka Takeuchi, explains why Japanese Companies fair better during times of crisis. They are dedicated to responding to the needs of employees and the community first, all with the moral purpose of serving the common good. Less important for these companies, he says, was pursuing layoffs and other cost-cutting measures in the face of a crippled economy.
“Many Japanese companies are not that popular with Wall Street types because they are not as focused on gaining superior profitability and maximizing shareholder value,” he says. “They talk consistently instead about creating lasting changes in society.”